Who are they? Jeff Bezos- AMAZON Mark Zuckerberg-Facebook Lawrence Edward- GOOGLE Bill Gates- MICROSOFT Steve Jobs- APPLE

Entrepreneur????

Meaning It originates from the french word entreprendre, which means “to undertake.” In business terms it means to start a business. In today’s world anyone who has an idea to develop and market a product or service is an entrepreneur. Entrepreneurship is accepting the challenge of starting and running a business

Goods A business producing good is actually producing something a consumer can feel touch,see or use to satisfy his or her wants. Example: If Sally is hungry for pizza, she may decide to go eat at Paula’s Pizza. Paula is the entrepreneur.She produces a good, pizza.

Service A business that produces a service is providing an action to satisfy a consumer’s wants. • Example: If Mrs. Smith wants her lawn mowed, she might contact Larry’s Lawn Service. Larry is the entrepreneur who owns the business. He produces a service by mowing, raking and cleaning Mrs. Smith’s lawn

Good or a Service???? You are about to see the name of several pet businesses. Each of these business owners is an entrepreneur. Owner produced a service by feeding, walking and caring for pets. Those are all actions. You decide whether the business produces a good or a service

Entrepreneur Vs. Intrapreneur Independence Wholly Independent Relatively independent Time Constraints Considerable pressure to demonstrate success quickly Comparative less pressure Risk Assumes all business risk Assumes some risk Resources Must find all necessary resources Access to core business resources Decision Making Strategic decision making Shared decision making

Innovation vs. Invention

Micropreneurs and home based manufacturers The smallest of small businesses are called micro- enterprises Have fewer than five employees Owners of micro-enterprises are called Micropreneurs Examples- writers, Consultants, video producers, architects and bookkeepers

Difference between Entrepreneurship and small business? Think-Pair-Share

Difference Entrepreneurship Small Business Idea New existing Innovation Always there May be Risk High low Amount of Wealth Creation high Average Speed of Wealth Creation Rapid(within five years) Over a Lifetime

Why people take the Entrepreneurial Challenge ? New idea, process or product. Independence Challenge Family Pattern Profit Immigrants

Skills needed to become an entrepreneur Self Directed Self Nurturing Action Oriented Highly Energetic Tolerant of uncertainty Able to learn quickly

Web based businesses Cleaning service Gift basket business Web design Medical claims assistance Micro Farming Tutoring Resume service Personal coaching

Activity Search some well known Canadian Entrepreneurs and share their story with the class.