Section 1
Why Be an
Entrepreneur?
Chapter 2
Your Potential as an Entrepreneur
Rewards of Entrepreneurship

Being Your Own Boss

Doing Something You Enjoy

Having the Opportunity to Be Creative

Having the Freedom to Set Your Own Schedule

Having Job Security

Making More Money

Being Recognized in the Community
Being Your Own Boss
Positives
Negatives
Doing Something You Enjoy
Positives
Negatives
Having the Opportunity to Be
Creative
Positives
Negatives
Having the Freedom to Set
Your Own Schedule
Positives
Negatives
Having Job Security
Positives
Negatives
Making More Money
Positives
Negatives
Being Recognized in the
Community
Positives
Negatives
Risks of Entrepreneurship
 Working
 Having
 Being
Long Hours
an Uncertain Income
Fully Responsible
 Risking
One’s Investment
Risks of Entrepreneurship

Competition: The rivalry among businesses for
consumer dollars.

Investment: The amount of money a person puts
into his or her business as capital.

Capital: Includes the buildings, equipment, tools,
and other goods needed to produce a product or
the money used to buy these things.
Working Long Hours
Advantages
Disadvantages
Having an Uncertain Income
Advantages
Disadvantages
Being Fully Responsible
Advantages
Disadvantages
Risking One’s Investment
Advantages
Disadvantages
Section 2
What Does It Take
to Be an
Entrepreneur?
Chapter 2
Your Potential as an Entrepreneur
Who Are Entrepreneurs?
 47%
Under the age of 35
 16%
started their business before 25
years of age
 Many
Entrepreneurs were independent
from an early age
Who Are Entrepreneurs?
 40%
Had a high school diploma or less
 27%
Had some College
 33%
had completed a college degree
Who Are Entrepreneurs?

Many Entrepreneurs worked when they were young.

62% of Entrepreneurs had parents or relatives who
owned a business

Many Entrepreneurs were influenced by a role model

Role Model: A person whose attitudes and
achievements they tried to emulate.
Characteristics of Successful
Entrepreneurs
1.
Persistent: Willing to work until a job is done.
2.
Creative: Look for new ways to solve old
problems.
3.
Responsible: Do not pass the buck.
Characteristics of Successful
Entrepreneurs
4.
Inquisitive: Want to know as much as possible
about whatever affects their venture.
5.
Goal Oriented: Set and achieve goals.
6.
Independent: Want to make their own decisions.
Characteristics of Successful
Entrepreneurs
7.
Self-Demanding: Have high expectations.
8.
Self-Confident: Believe in themselves.
9.
Risk-Taking: Take risks, but they are not reckless.
Characteristics of Successful
Entrepreneurs
10.Restless:
After achieving goals, look for new
challenges.
11.Action-Oriented:
12.Enthusiastic:
Doers, not spectators.
Energetic and passionate about
their pursuits.
10 Essential Entrepreneurial Skills
1.
Communication Skills
2.
Math Skills
3.
4.
5.
Problem Solving Skills
Technology and
Computer Skills
Decision-Making Skills
6.
Organizing and
Planning Skills
7.
Teamwork Skills
8.
Social Skills
9.
Adaptability Skills
10.Basic
Business Skills
Strengthening Your Entrepreneurial
Characteristics

Profile: A set of characteristics or qualities that
identifies a type or category of person.

Achiever: A person with a record of successes.
Strengthening Your Entrepreneurial
Characteristics

Set out to be the best at whatever you do.

Try to accomplish the extraordinary

Write you goals down on paper

Pursue your goals with confidence and commitment.

View difficulties as opportunities to learn and grow.
Develop Your Entrepreneurial Skills
1.
Learn the techniques needed to use the skill.
2.
Put the skill to work in real-world situations.
3.
Ask yourself whether you get the results you want
(If not, determine how you can improve and apply
what you’ve learned)