What is an Entrepreneur?

Unit 1: Lesson 1

Own Your Own

• From what you’ve heard me say and personal experience, write a 1-2 sentence definition for the term:

“Entrepreneur/Entrepreneurship”

Definition:

• Entrepreneur: an individual who undertakes the creation, organization, and ownership of a business. They accept the risks and responsibilities of business ownership to gain profits and personal satisfaction.

• Who knows someone who owns their own business?

Couple Extra Terms

• Entrepreneurship: the “process” of recognizing an opportunity, testing it in the market, and gathering resources necessary to go into business.

• Entrepreneurial: “acting” like an entrepreneur or having an entrepreneurial mind-set.

Fun Facts

• 90% of all businesses are small, with fewer than 100 employees.

• 62% of these are based out a person’s home.

• There are people out there to help. SBA, BBB, etc…

Why own your own Business?

Advantages:1. Being Your Own Boss = Freedom!2. Doing Something You Enjoy = Fun!3. Opportunity to be creative = Innovate!4. Set Your own schedule = Flexible!5. Job Security = Control Your own Destiny!6. Make More Money = Unlimited potential!7. Recognized in the Community = Respect!

Why not own your own Business?

Disadvantages:1. Working Long Hours = Exhausted…2. Uncertain Income = Lack of Stability…3. Being Fully Responsible = You are it…4. Risking One’s Investment = Big Risk…

So How can You become an Entrepreneur?

• Most Entrepreneurs aren’t your average “Joe Shmoe”

• They work hard and possess a set of specific qualities/characteristics that set them apart.

• Never fear, they can be learned, developed, and practiced.

Characteristics of a great Entrepreneur!

1. Persistent2. Creative3. Responsible4. Inquisitive5. Goal-Oriented6. Independent

7. Self-Demanding 8. Self-Confident9. Risk-Taking10.Restless11.Action Oriented12.Enthusiastic

Developing those Characteristics

There are four great ways to work on and develop your Entrepreneurial skills.

1. Reading 2. Writing3. Watching4. Solving

We are going to practice each.

Do you love Cookies?

• Wally Amos Did and created a cookie empire!

• Let’s learn more about Wally, by reading, writing, solving problems, and watching.

Continual Process

• Over the Next few days we’ll be doing some activities to develop your Entrepreneurial skills and characteristics