Entrepeneurs Entrepeneurs & &

Enterprising PeopleEnterprising People

What is entrepreneurship?What is entrepreneurship?

The act of identifying opportunities and taking calculated risks to satisfy the needs and wants of others.

What is an entrepreneur?What is an entrepreneur?

Someone who has an idea

AND

makes it happen!

Local Entrepreneurs Local Entrepreneurs (Delta)(Delta)

EHR -- Robert Bragdon, manager for 25 years (open since 1931)

Shipton’s Heating and Cooling (open since 1926) Rankin’s Restaurant -- Gary Rankin, owner and

son of founder (1st bar & grill in Hamilton) Sealed Art across from Gage Park -- Les Stone

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How entrepreneurs benefit communities:How entrepreneurs benefit communities:• Provide new, improved products / services• Improving our living condition• Find new ways to make products / services available to more

people• Competition which improves quality, production and keeps

prices down.• Create jobs • Provide a spirit of energy, initiative and potential for other

entrepreneurs (one venture often creates a demand for other ventures)

• Pay taxes, sponsor teams, support fund raising, help to improve community

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Factors that help people overcome Factors that help people overcome barriers to becoming an entrepreneur:barriers to becoming an entrepreneur:

Government incentives/fundingEducationChanging attitudes-women, natives

and disabled Canadians can be entrepreneurs!

Mentoring-support from someone with experience

Enterprising PeopleEnterprising People(Also called Intrapreneurs)

Enterprising People make things happen within a company or organization or in their spare time.

Many are agents of social change. They respond to needs and wants in order to improve the lives of others.

Enterprising People & Enterprising People & AccomplishmentsAccomplishments

Terry Fox – Run for Cancer

June Callwood – Home for Abused Women

Rick Hansen – World Motion Tour for Handicapped

Arthur Fry – 3M post-it

Lee Iacocca – Chrysler mini van

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Creative and innovative Creative and innovative thinking by employees:thinking by employees:

Band-Aid (Earl Dickson working for J & J) Cell Phone (Dr. Martin Cooper for Motorola) Hybrid Car (Ferdinand Porsche) Digital Camera (Steven J. Sasson for Eastman

Kodak)

Innovation – is a change to something that already exists. Someone asked, “What if?”

Entrepreneur VS Enterprising PersonEntrepreneur VS Enterprising Person

Same:Visionary--look for opportunitiesResourceful--make things happenRisk-taker--chance of losing own $ or their reputation within a

company.

Different: Entrepreneur - setting up a business to make a profit. Enterprising Person - work within an established

organization or company to make improvements.

More and more corporations want employees to More and more corporations want employees to be enterprising people.be enterprising people.

Why are enterprising people valued?Why are enterprising people valued?

– Need leaders to help the company grow– Help the company compete– Keep pace with changing customer needs/wants

and technology

What does the enterprising What does the enterprising employee get?employee get?

Improved pay, benefits and profit sharingJob securitySense of accomplishmentRecognitionLeadership opportunities

Ways a company can encourage Ways a company can encourage employees to be enterprising people:employees to be enterprising people:

Suggestion box e.g., General Motors, Honda Profit sharing e.g., E.D. Smith, Dofasco Team concept e.g., 3M – creative groups for new ideas Stock purchase plan e.g., Canadian Tire Pay for courses that employees take to upgrade skills Innovative and fun work environment Reward and recognize efforts and results Provide freedom from constraints (flex hours) Share power

Risks for Enterprising EmployeesRisks for Enterprising Employees

Rejection of their ideasResponsibility for resultsRidicule by othersLoss of credibility Demotion

Ways to Manage RiskWays to Manage Risk

Communicate effectivelyBuild a teamUse the expertise of othersTake calculated risks…research & plan!

The Importance of Self-ConfidenceThe Importance of Self-Confidence

It is very difficult for other people to trust and have confidence in someone when that same person does not have confidence in themselves. In the enterprising world, that kind of lack of confidence can paralyse a business.

How can you gain self-confidence?How can you gain self-confidence? By having successes By being good at something By doing what you love to do Read books about successful people Challenge yourself Tackle your fears (on the other side of your fears is your

greatest growth) Be positive (you are in control) Have initiative (getting started is half the battle) Establish goals

Ways in which you can be Ways in which you can be Enterprising.Enterprising.

Get involved in your school– clubs - teams - student council - yearbook– school newspaper - spirit days - helping others– start a club - start a band - fundraising

Get involved in your community– volunteer - contribute - help a senior– listen for problems, there may be an opportunity– look for ways to do things better– create your own summer job– talk to local entrepreneurs