becoming an entrepreneur notes. characteristics of entrepreneurs entrepreneurs are: competitive...
TRANSCRIPT
Becoming an Entrepreneur
notes
Characteristics of Entrepreneurs
Entrepreneurs Are:• Competitive
• Creative
• Energetic
• Goal Oriented
• Independent
• Persistent
• Reliable
• Confident
Entrepreneurs Have:• Ability to partner
• Ability to secure resources
• Ability to spot opportunity
• Capability to learn from failures
• Problem-solving skills
• Willingness to work hard
• Strong integrity
Entrepreneurship & The Economy
• Employment• Over 60% of all new employment comes from new businesses
• Financing• Most start on $10,000 or less
• Owner’s savings, bank loans, credit card debt, family/friends
• Venture Capital – money provided by large investors in exchange for partial ownership
• Example: Shark Tank investors are venture capitalist
• Supplied more than $100 billion to new businesses last year
• Productivity & GDP• Small businesses are responsible for more than 50% of the U.S. GDP each year
Opportunities & Risks
Opportunities• Innovations – invention or
creation that is brand new.• May be sold to other
companies for development
• Improvement – designed change to an existing product or service
Risks• Only about 1/3 or new businesses
are profitable in their first year• Lack of resources (mainly capital)
• Low Sales
• Higher than expected expenses
• Competitive pressures
• Unprepared owner
• Bigger time commitment
Assignment – Famous Entrepreneurs
Research a famous
entrepreneur from the next slide. Create
a short presentation highlighting
their background, companies, failures, and
successes
• Slide One – Title Slide• Entrepreneur’s Name• Your Name
• Slide Two• Early Life – Family, Childhood
Education, etc.• Slide Three
• Companies they created / bought• Products / Services they are famous
for creating or selling• Slide Four
• Failures• Slide Five
• Successes• Net Worth
• Slide Six• Collage of Photos
Famous Entrepreneurs
Steve Jobs Russell Simmons Bill Gates
Coco Chanel Donald Trump Henry Ford
Mark Cuban Mark Zuckerberg Oprah Winfrey
Mary Kay Ash Jeff Bezos Sam Walton
Warren Buffet Phil Knight Kevin Plank
Lori Greiner John Rockefeller Kimora Lee Simmons