EntrepreneurshipEntrepreneurshipWhat is Entrepreneurship?What is Entrepreneurship?

EntrepreneurshipEntrepreneurship• Is about seeing opportunities and bringing Is about seeing opportunities and bringing

about changeabout change• It is about new: new products, new It is about new: new products, new

production methods, new markets, new production methods, new markets, new ways of distributing, etc. ways of distributing, etc.

• It is based on innovation and the desire for It is based on innovation and the desire for change change

• It is looking at the world the way you want It is looking at the world the way you want it to be, rather than the way it isit to be, rather than the way it is

Opportunity Knocks?Opportunity Knocks?• Think – Pair - ShareThink – Pair - Share• Identify some opportunities for new Identify some opportunities for new

businessesbusinesses• Think of the Internet, cell phones, I-Think of the Internet, cell phones, I-

Pods, computers, school events, your Pods, computers, school events, your local community, etc.local community, etc.

EntrepreneurshipEntrepreneurship

1.1. Identify an opportunityIdentify an opportunity2.2. Pursue that opportunity beyond your Pursue that opportunity beyond your

current resourcescurrent resources3.3. Believe that opportunity can be Believe that opportunity can be

achievedachieved

Entrepreneurship =

EntrepreneursEntrepreneurs

James Dyson wanted a vacuum that James Dyson wanted a vacuum that worked better worked better invented cyclone invented cyclone technology (Dyson vacuums)technology (Dyson vacuums)

Problem = OpportunityProblem = Opportunity

EntrepreneursEntrepreneursDavid Chilton: financial advisor who couldn’t find a David Chilton: financial advisor who couldn’t find a

good financial planning book for his clients to good financial planning book for his clients to read read

wrote the Wealthy Barber (bestseller for years)wrote the Wealthy Barber (bestseller for years)

Problem = OpportunityProblem = Opportunity

Why Learn About Why Learn About Entrepreneurship?Entrepreneurship?

• Many people choose to leave problem solving and innovation to others - Entrepreneurs do not

• Entrepreneurship involves trying new ideas, approaches, methods and styles

Rewards of Rewards of EntrepreneurshipEntrepreneurship

• Be your own bossBe your own boss• Set your own scheduleSet your own schedule• Enjoyment of workEnjoyment of work• Learn all aspects of a businessLearn all aspects of a business• Become a leader in the communityBecome a leader in the community• Can be excitingCan be exciting

Drawbacks of Drawbacks of EntrepreneurshipEntrepreneurship

• Long hoursLong hours• Emotional energyEmotional energy• Responsibility is on your shouldersResponsibility is on your shoulders• StressStress• Time away from family and friendsTime away from family and friends• Risk of business failureRisk of business failure