Entrepreneurship & Small Business Management

This unit goes over the role that small businesses play in the U. S This unit goes over the role that small businesses play in the U.S. economy and how to start and manage a small business. What is an Entrepreneur and how do you become one? What are the advantages and disadvantages of small business ownership? What resources are available to small business owners? What are the elements of a business plan and the sources of financing for a new business?

What is an Entrepreneur? An Entrepreneur Is someone who takes a risk in starting a business to earn a profit. Entrepreneur's can come from all types of backgrounds and create all kinds of businesses. All ages of people Some own tiny craft shops, while others own huge construction shops.

What is Entrepreneurship? Entrepreneurship Is the process of starting, organizing, managing, and assuming the responsibility for a business.

What does it take? Not all people who own or manage a business are entrepreneurs. It takes unique skills and personal characteristics to develop a new idea for a product or service. A person must have the confidence and capability to turn an idea into a business. It is important to have an understanding business operations and management. Take Business Management classes Get a degree in Business Management Work in a business Ask for help or advice from an experienced business owner. Read and study on your own.

Personal Characteristics of Entrepreneurs Persistent- working until a job is done Risk-taking Self-confident Goal-oriented Enthusiastic Responsible Creative Independent Inquisitive- entrepreneurs conduct research and ask questions to solve problems

Do you have what it takes to be an Entrepreneur? http://www.bizmove.com/other/quiz.htm Were you shocked by your quiz score? Did it seem accurate or Incorrect? Why?