ENTREPRENEURSHIP March 7 th, 2016 BB12O

Defining an Entrepreneur ■Comes from the French word ‘prendre’ – to take ■A person who starts a business and is willing to risk loss in order to make money. ■They provide new goods and services ■Goods and services that meet people’s needs and wants. ■A need is something you have to have ■A want is something you would like to have.

Characteristics of Successful Entrepreneurs ■Aptitude – the ability or capacity to do something ■Vision – visualize the end goals ■Risk-taker – comfortable in accepting taking chances. ■Passion – ideas, company, and their vision.

Characteristics of Successful Entrepreneurs ■Perseverance – keep pushing, no matter what. ■Creativity – thinking of new and better ways for satisfaction ■Integrity – being honest and having morals. ■Initiative – willingness to start a business. –Self motivated; responsible for success or failure.

Characteristics of Successful Entrepreneurs ■Flexible ■Optimistic ■Confident ■Determined ■Innovative

Entrepreneurial Skills 1.Communication – with customers, suppliers, investors, etc. ■4 Important Components: –Writing – reflects well on company –Reading – reading quickly is useful. –Listening – ability to understand the intentions or ideas of customers. –Viewing and Representing – make visual and media texts that are convincing.

Entrepreneurial Skills 2. Problem Solving – when problems arise, entrepreneurs take that as an opportunity. Sometimes, the best ideas come from solving a problem. 3. Planning – preparing for the future; step by step. 4. Decision-making – putting things off can miss opportunities, wasting money and time. 5. Leadership – having the motivation and ability to lead others and be an inspiration.

Types of Entrepreneurs 1.The skeptical entrepreneur – when they see success with others, they get doubts. 2.The copycat entrepreneur – see success from others, and copy their strategy. 3.The research entrepreneur – research for possible strategies for growth. 4. The determined entrepreneur – see everything as achievable. 5. The accomplished entrepreneur – figured out the means of achieving success; how to connect with their customers.