Chapter 13
Our Economic System
Lesson 13.2
Being Your Own Boss
Being Your Own Boss
Discover
The rewards and challenges of
working for yourself
How to start your own business
Chapter 13 Our Economic System
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Being Your Own Boss
Why It’s Important
In the free enterprise system,
many people own and operate
their own businesses. One day,
you may be one of them.
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Being Your Own Boss
Key Terms
entrepreneur
business plan
marketing
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Being Your Own Boss
Being Your Own Boss
You may have a future as an
entrepreneur.
An entrepreneur is someone
who organizes and runs a
business.
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Being Your Own Boss
Being Your Own Boss
More than 95 percent of the
people employed in the United
States work for small businesses.
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Being Your Own Boss
Graphic Organizer
The Rewards and Challenges of Entrepreneurship
+
-
Advantages
Disadvantages
Chapter 13 Our Economic System
+ + +
- - -
You’re in
Charge
Personal
Satisfaction
Unlimited
Income
Potential
Long Work
Hours
Risk
Competition
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Being Your Own Boss
Graphic Organizer
Qualities of Entrepreneurs
Motivation
Sight and
Foresight
Decision
Making
Human
Relations
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Being Your Own Boss
Launching Your Own
Business
Whether you launch your business
this weekend, next summer, or in
the future, you will need a plan.
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Being Your Own Boss
The Importance of
Planning
To run a successful business, you
need a business plan.
A business plan is a written
proposal that describes your new
business.
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Being Your Own Boss
Graphic Organizer
Elements of a Business Plan
Shown to
people who
can lend you
money to start
your business
Identifies the
goods or
services you
will offer
Chapter 13 Our Economic System
Identifies
where your
business will
be located
Business
Plan
Outlines your
goals and
gives a
timetable for
meeting them
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Being Your Own Boss
The Importance of
Planning
A business plan also describes who
your customers will be and your
marketing plan.
Marketing is the process of
developing, promoting, and
distributing good and services to
customers.
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Being Your Own Boss
Graphic Organizer
Functions of Marketing
Market
Research
Distribution
Selling
Finance
Service
Pricing
Promotion
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Being Your Own Boss
The Importance of
Planning
As part of your business plan, you’ll
figure out how much it will cost to
start and run your business.
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Being Your Own Boss
The Importance of
Planning
Many entrepreneurs borrow money
from a commercial lender, such as
a bank, to get their businesses
started.
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Being Your Own Boss
Try This Activity
Develop a
School-Based
Business
Work with a group of students. Brainstorm
a list of businesses that would be
successful at your school. Conduct
research on other students to find out if
they would patronize your business.
continued
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Being Your Own Boss
Try This Activity
Develop a
School-Based
Business
Prepare Your Business Plan
Now develop the business plan.
continued
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Being Your Own Boss
Try This Activity
Develop a
School-Based
Business
Conduct Research, Then Carry Out
Your Plan Make sure your plan
includes all the information listed. Then
carry out your plan by starting the
school-based business.
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Being Your Own Boss
The Importance of
Planning
Making a business plan is hard
work, but it’s also exciting.
A business plan is a dream on
paper.
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Being Your Own Boss
Investigating Career
Clusters
Manufacturing
Manufacturing The process of making
products by hand or by machine
continued
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Being Your Own Boss
Investigating Career
Clusters
Manufacturing
If you love to build things or make things, a
career in manufacturing may be for you.
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Being Your Own Boss
Critical Thinking Review
Critical Thinking
Q What should you consider in choosing a
location for a business?
continued
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Being Your Own Boss
Critical Thinking Review
Critical Thinking
A Answers include: whether the business
needs to be near customers or services;
location of competition; the cost of property;
the condition of streets and buildings; and
the types of businesses in the area.
continued
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Being Your Own Boss
Critical Thinking Review
Critical Thinking
Q What qualities of entrepreneurs are also
important to have when you work for
someone else?
continued
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Being Your Own Boss
Critical Thinking Review
Critical Thinking
A Good employees are motivated and good
at decision making. They can successfully
relate to other people. These qualities
are also required of entrepreneurs.
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End of Chapter 13
Our Economic System
Lesson 13.2
Being Your Own Boss