Starting Your Own Business 6 Chapter Sections 6.1 – 6.5 Starting Your Own Business

What is an Entrepreneur? An entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Differ from many small-business owners in their strong desire to make their business grow. Willing to take risks. Entrepreneurs differ from managers as they are willing to assume risk (financial, social, career). Entrepreneur.com is an excellent resource (click on link).

Why Choose to be an Entrepreneur? Being Your Own Boss Make your own decisions Financial Success Create your own wealth Job Security Cannot get laid off Quality of Life Wants flexibility and control Entrepreneurs differ from managers as they are willing to assume risk (financial, social, career). Entrepreneur.com is an excellent resource (click on link).

Businesses Started by Entrepreneurs Globalization, education, and information technology create many opportunities for entrepreneurs. Growth in entrepreneurship is a worldwide phenomenon.

The Environment for Entrepreneurs Globalization The rapid globalization of business has created many opportunities for entrepreneurs compete. Education 100 U.S. colleges and universities offer entrepreneurship majors. Universities are helping students launch businesses. Many programs teach entrepreneurship to young people. Educational opportunities have grown for entrepreneurs, and information technology has provided a big boost for entrepreneurs. Social media tools like Facebook, Twitter, and YouTube have transformed the business environment for entrepreneurs.

The Environment for Entrepreneurs Information Technology Technology has given entrepreneurs tools that help them compete. Entrepreneurs have used information technology to revolutionize industries. Demographic & Economic Trends Immigrants Adults aged 55-64 College students

Characteristics of Entrepreneurs There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur.

Characteristics of Entrepreneurs entrepreneurs begin with an overall idea for how to make their business ideas successful There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur.

Characteristics of Entrepreneurs a willingness to work hard There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur.

Characteristics of Entrepreneurs entrepreneurs work hard because they want to excel There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur.

fearlessness in the face of difficult odds Characteristics of Entrepreneurs There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur. fearlessness in the face of difficult odds

Characteristics of Entrepreneurs entrepreneurs work hard because they want to excel There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur.

Characteristics of Entrepreneurs entrepreneurs devise innovative ways to overcome difficult problems and situations There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur.

Characteristics of Entrepreneurs entrepreneurs take in stride uncertainties There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur.

Characteristics of Entrepreneurs There are key characteristics that make up the entrepreneurial personality. Research shows that these traits include curiosity, passion, self-motivation, honesty, courage, and flexibility. These traits may increase a person’s chances of being a successful entrepreneur. entrepreneurs believe they can control their own fates

Career Kickstart – page 165 End of Chapter video Career Kickstart – page 165 Research E-mail Etiquette and Discuss w/ Class