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Entrepreneurship

Unit 1. Entrepreneurship. Key Terms. Business: An organization engaged in the selling of goods or services for a profit. Profit: The money left over after a business has paid all expenses and costs . Key Terms. Entrepreneur: Someone who takes a risk in starting a business for a profit.

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Entrepreneurship

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  1. Unit 1 Entrepreneurship

  2. Key Terms Business: An organization engaged in the selling of goods or services for a profit. Profit: The money left over after a business has paid all expenses and costs.

  3. Key Terms Entrepreneur: Someone who takes a risk in starting a business for a profit.

  4. Key Terms Business Plan: A document that details a businesses goals, strategies and objectives on how starting and operating.

  5. The Entrepreneurial Mindset

  6. Entrepreneurs See Problems as Business Opportunities

  7. Can you guess the problem that inspired these business ideas?

  8. Wheels on Luggage

  9. Airwalks

  10. ebay

  11. Entrepreneurs take calculated risks

  12. Calculated Risks • Calculated risks are about ensuring you have as much control as possible over the outcome • More to gain than lose • A Business Plan reduces risk

  13. Which is the Calculated Risk? Starting a business… Posing for this picture…

  14. “Risk comes from not knowing what you're doing. ” Warren Buffet

  15. The $5 Challenge

  16. Your Mission • Quickly develop an idea for a business you and your partner are capable of starting. • You only get $5 dollars start it • You can’t use your own money • It must be legal!

  17. Entrepreneurs use their talents and resources to create value

  18. Innovation Challenge Students had three days to create “value” using rubber bands • Art Work • Carnival Game • Charity Bracelet • Jump Rope

  19. The Entrepreneurial Mindset Entrepreneurs… • See problems as opportunities • Take calculated risks • Use their talents and resources to create value

  20. Lets take a look at Kernel Seasons http://www.youtube.com/watch?v=MvgYum-2h7Y&feature=related

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