GLC2O: Unit 2: Exploration of Opportunities

 Entrepreneur: somebody who develops, organizes, and manages a business AND assumes the risks.  Involves selling of goods or services  Being an entrepreneur has many advantages, but also has its disadvantages as well  Some professions can be a combination of both

Advantages Potential to make more money Set your own hours (flexibility) Your own boss Possible tax benefits Disadvantages Potential to lose money More responsibility/work More liability-legal Need to be self- motivated

 Leadership Skills: ability to motivate and guide employees.  Self-confident: believes in his/her abilities to succeed.  Perceptive: anticipate problems ahead of time and being proactive  Hard-working: does whatever it takes to be successful  Resourceful: builds a network of contacts, makes the most of what they have.

 Risk Management: able to take calculated risks.  Creative: looks for new ideas.  Optimistic: positive attitude, especially when facing adversity  Independent: able to make decisions on their own.  Visionary: always looking into the future and the next step.

 Inventor - one who develops new ideas for products or ways of doing things  Innovator - one who improves existing products or ways of doing things  Manager - one who sets goals and sets out a plan to reach those goals  Administrator - one who puts a plan into action to achieve goals  Leader - one who sees the future of the business and gets that message to others

 Invention: creation of something that has not been made before.  Innovation: something that has been modified or improved using different materials or processes.  An entrepreneur must be able to identify needs or wants of the consumer and be able to satisfy those needs and wants.

 Complete the Worksheet “Employee or Entrepreneur” and we will discuss it as a class.