Entrepreneurship -- Section 1.2 Is Entrepreneurship Right For You?

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By: shivakumar2236 (106 month(s) ago)

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Lesson 1.2IS ENTREPRENEURSHIP RIGHT FOR YOU? : 

Chapter 1 Slide 1 Lesson 1.2IS ENTREPRENEURSHIP RIGHT FOR YOU? Identify the characteristics of successful entrepreneurs. Assess whether you have what it takes to succeed in your own business. GOALS

Characteristics of Successful Entrepreneurs : 

Researchers have identified several characteristics that distinguish successful entrepreneurs from those that fail Chapter 1 Slide 2 Characteristics of Successful Entrepreneurs

CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS : 

Successful entrepreneurs are independent They want to make their own decisions and do something they enjoy are self-confident They have to make all the decisions and need to have the confidence to make choices alone have determination and perseverance They must persist through hard times Chapter 1 Slide 3 CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS

Characteristics of Successful Entrepreneurs : 

are goal-oriented They know what they want! have a need to achieve and to set high standards for themselves They are constantly setting new goals are creative They can think of new ways to market their business and think of solutions for problems are able to act quickly They are not afraid to make quick decisions when necessary Chapter 1 Slide 4 Characteristics of Successful Entrepreneurs

SMALL BUSINESSES DOMINATE THE U.S. ECONOMY : 

SMALL BUSINESSES DOMINATE THE U.S. ECONOMY Chapter 1 Slide 5

Assessing Your Suitability for Entrepreneurship : 

To determine if entrepreneurship is right for you, you first need to perform a self-assessment Self-Assessment: an evaluation of your strengths and weaknesses Chapter 1 Slide 6 Assessing Your Suitability for Entrepreneurship

Assessing Your Interests : 

Assess your interests To be able to commit yourself fully to a business, you should choose a field that interest you and that will provide you with an experience you will enjoy Hobbies and interests Many entrepreneurs center a business on an interest or hobby Chapter 1 Slide 7 Assessing Your Interests

Assessing your Interests : 

Past experiences Analyzing past experiences and jobs can help you decide on a business you would enjoy owning Chapter 1 Slide 8 Assessing your Interests

Assessing Your Aptitude : 

Aptitude: the ability to learn a particular kind of job Example(s) Auto mechanics must possess an aptitude for solving mechanical problems Insurance Agents need to have interpersonal skills Chapter 1 Slide 9 Assessing Your Aptitude

Assessing the Advantages of Entrepreneurship : 

Many people see significant advantages of owning their own business Be your own boss Choose a business that interests you Can be creative Can make lots of $$ Chapter 1 Slide 10 Assessing the Advantages of Entrepreneurship

Assess the disadvantages of entrepreneurship : 

Entrepreneurship is risky Face uncertain and irregular incomes Work long hours Make all decisions on your own Chapter 1 Slide 11 Assess the disadvantages of entrepreneurship

ADVANTAGES OF ENTREPRENEURSHIP : 

Entrepreneurs are their own bosses. Entrepreneurs can choose a business that interests them. Entrepreneurs can be creative. Entrepreneurs can make lots of money. Chapter 1 Slide 12 ADVANTAGES OF ENTREPRENEURSHIP

DISADVANTAGES OF ENTREPRENEURSHIP : 

Entrepreneurship is risky. Entrepreneurs face uncertain and irregular incomes. Entrepreneurs work long hours. Entrepreneurs must make all decisions by themselves. Chapter 1 Slide 13 DISADVANTAGES OF ENTREPRENEURSHIP

Think about and review : 

Entrepreneurs can fail even if they are committed and have the characteristics needed to be successful. Why do you think this can happen? Do you think the advantages of entrepreneurship outweigh the disadvantages? Why or why not? Chapter 1 Slide 14 Think about and review

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