Entrepreneurs: Leaders In Change

What is an Entrepreneur?  An Entrepreneur is a person who organizes and manages a business undertaking, assuming the risk for the sake of profit. Any person (any age) who starts and operates a business is an entrepreneur.

Characteristics of an Entrepreneur  Ability to deal with a series of tough issues  Ability to create solutions and work to perfect them  Can handle many tasks simultaneously  Resiliency in the face of set-backs  

Characteristics Cont’d  Willingness to work hard and not expect easy solutions  Possess well-developed problem solving skills  Ability to learn and acquire the necessary skills for the tasks at hand

Three Aspects of Entrepreneurship  1. The identification/recognition of market opportunity and the generation of a business idea (product or service) to address the opportunity

Three Aspects of Entrepreneurship  2. The marshalling and commitment of resources in the face of risk to pursue the opportunity

Three Aspects of Entrepreneurship  3. The creation of an operating business organization to implement the opportunity-motivated business idea

Successful Characteristics  Drive, which is defined as the most important attribute. Entrepreneurs can expect long hours, high stress and endless problems, as they launch a new business.  Thinking Ability, or the characteristic that encompasses creativity, critical thinking, analytical abilities and originality.  Excel at Human Relations. Recognizes the importance of the ability to motivate employees, sell customers, negotiate with suppliers and convince lenders.

Successful Characteristics  Communication Skills, or the ability to make yourself understood.  Technical Ability speaks to the need of the entrepreneur to know their product and their market. They must consider the long- and short- term implications of their decisions, their strengths and weaknesses, and their competition. In short, they need strategic management skills.

1.I don't like being told what to do by people who are less capable than I am. 2.I like challenging myself. 3.I like to win. 4.I like being my own boss. 5.I always look for new and better ways to do things. 6.I like to question conventional wisdom. 7.I like to get people together in order to get things done. 8.People get excited by my ideas. 9.I am rarely satisfied or complacent. 10.I can't sit still. 11.I can usually work my way out of a difficult situation. 12.I would rather fail at my own thing than succeed at someone else's. 13.Whenever there is a problem, I am ready to jump right in. 14.I think old dogs can learn — even invent — new tricks. 15.Members of my family run their own businesses. 16.I have friends who run their own businesses. 17.I worked after school and during vacations when I was growing up. 18.I get an adrenaline rush from selling things. 19.I am exhilarated by achieving results. 20.I could have written a better test than this.

Entrepreneurship  Some advantages  You are your own boss  Enjoy the profits from you efforts  Sense of pride in your business  Flexibility in your work schedule

Entrepreneurship  Some disadvantages  Will need to put in long hours  Need money to start  Have to keep up with government rules and regulations  May have to mark hard decisions (hiring, firing, etc.)  May lose money

Competition is Healthy  Competition is good for you  -Validates and expands the market  - Generates market awareness of the need  - Makes buyers more secure  Opportunity to convert their customers  Motivates your employees to work hard and improve

Entrepreneurship U.S. View  SBA reports that small business  Represented over 99% of all employers  Provided 75% of ALL new jobs  Produced 55% of innovations (As of 2000)

Colleges and Universities  With Entrepreneurship Majors   2000 – over 1400

“E” Education In High Schools  Kauffman Foundation Gallop Poll  90% of H.S. students rate their “E” Knowledge as very poor or fair.  7 out of 10 students want to start a business  84% believe it is important for schools to teach Entrepreneurship!

Tomorrow’s Entrepreneurs are in our schools TODAY!! You can either work for an entrepreneur or be an entrepreneur. You can either work for an entrepreneur or be an entrepreneur. Which will it be? **All information provided by BusinessWeek.com

Admiral Zheng He b. around 1371, d  In seven voyages from 1405 to 1433, Zheng He spread China's goods across the world and returned with treasures for the Ming Dynasty

Benjamin Franklin b. 1706, d  A writer, publisher, inventor, politician and diplomat, he always considered himself a businessman.

Mayer Amschel Rothschild b. 1744, d  Rothschild's banking empire would stretch across Europe, essentially becoming the world's first international bank

John Jacob Astor b. 1763, d  Came to New York in poverty at age 20 and built a near-monopoly in the global fur trade.  Astor poured his fur profits into New York real estate; the income from the rents and the value of the land combined to make Astor the wealthiest American of his time

John Rockefeller b. 1839, d  Rockefeller started his first business selling grain and other goods before he was 20.  By buying out oil refineries around Cleveland and New York after the Civil War, Rockefeller soon dominated the market

Andrew Carnegie b. 1835, d  The Scottish immigrant and weaver's son built a steel empire whose mills churned out the railroads, ships, and structures of post- Civil War America— and created a fortune for himself in the process.

Estee Lauder b. 1907, d  In 1946, she founded the company that bears her name to sell makeup and perfume in high-end department stores around the world  Lauder became a giant in the nascent beauty industry by making sure the quality of her products exceeded the expectations of her target market, namely wealthy society women

George Washington Carver b. 1864, d  Carver changed the South from being a one-crop land of cotton, to being multi-crop farmlands, with farmers having hundreds of profitable uses for their new crops

Henry Ford b. 1863, d  Ford did not invent the automobile, but he made it affordable to the middle class that he helped create  His manufacturing process created the modern car industry, and with it, the car culture of the 20th century

Milton Hershey b. 1857, d  In 1905, Hershey built the world's largest chocolate factory in Pennsylvania  Millions enjoy what once had been reserved for the wealthy. Selling "low- cost luxury" became a viable business model

Harland “Colonel” Sanders b. 1890, d  Kentucky Fried Chicken, pioneered by Colonel Harland Sanders, became one of the largest quick service food service systems in the world  A billion "finger lickin' good" KFC dinners served annually in more than 80 countries and territories.

Madam C.J. Walker b. 1867, d  Walker's line of hair- and-beauty products geared toward blacks tapped into a market ignored by other businesses because of racism  She set an example for generations of entrepreneurs in a time when women were still struggling for voting rights

Thomas Edison b. 1847, d  Edison's relentless innovation made him the most prolific inventor of his time  Started as a telegraph operator but soon moved on to refining that technology and creating others that would turn the world on its head: a device to turn power into light, a machine to record and play back sound

Ray Kroc b. 1902, d  Ray Kroc turned a California burger shack into a brand whose golden arches span the globe  By investing in franchisees, Kroc drove the inexorable growth of McDonald's and created one of the most visible brands in history

Walt Disney b. 1901, d  The first multimedia empire was built on animation  He also founded Disneyland.  His company owns: Buena Vista Pictures Entertainment, ABC TV, ABC Family Channel, and ESPN Buena Vista Pictures Entertainment, ABC TV, ABC Family Channel, and ESPN

Earl Graves b  Founded Black Enterprise magazine in 1970, a publication that recognized the expanding financial power of the black community and helped spur its growth  Boasts a paid circulation of half a million and has been profitable since its 10th issue

Andy Grove b  He helped found Intel and navigated the company's shift from making memory chips to microprocessors  During his tenure as CEO from 1987 to 1998, Intel grew at a rate of 30% annually

W. K. Kellogg b. 1860, d  Kellogg's accidental discovery, promoted with savvy marketing, transformed the way Americans eat breakfast  Kellogg grasped the idea that kids influence buying decisions— galvanizing the brand's success

Martha Stewart b  Started a catering business out of her Westport (Conn.) home in 1976  Went on to expand into retail, publishing, television, and merchandising

Bill Gates b  By linking his Microsoft software to IBM's first PCs, he dominated the industry  He developed a two- prong strategy of expanding the market while maintaining a strong hold on competitors

Jeff Bezos b  Founded Amazon.com, in 1994  Bezos pioneered techniques that have become staples of online sales.

Michael Dell b  Created a new model for PC sales  Cutting out the retail middleman and custom-building computers to suit buyers' needs put Dell at the front of the class of PC makers

Oprah Winfrey b  Oprah Winfrey turned her name into one of the most successful and respected brands in the world  Leveraged that fame into other interests: magazines, Web sites, film and television production and Social Entrepreneurship.

Richard Branson b  Richard Branson turned, Virgin, the mail-order record shop he opened in 1970 into a label he sold 22 years later for nearly $1 billion  Brand includes mobile- phone service, bridal gowns, credit cards, and life insurance. Virgin Group encompasses 200 companies in 30 countries and boasted $7.2 billion in sales in 2002

Steve Jobs b d  The Apple co- founder combined simplicity with innovation to emerge from the Internet boom as one of the lone tech companies that can butt heads with Microsoft

Mark Zuckerburg, Dustin Moskovitz, Eduardo Saverin, Chris Hughes  Founders of Facebook  Started at Harvard, but decided to spread the program to other Ivy League schools and then beyond.

Ralph Lauren b  Like many successful entrepreneurs, Lauren was selling lifestyle more than product  Lauren imagined a market for men's fashion as large as that for women

Sam Walton b. 1918, d  The man who built the world's largest retailer on low prices: Wal-Mart  Bought direct from manufacturers and made his stores as efficient as possible, sending the savings back to consumers

Chad Hurley, 29; Steve Chen, 28 & Jawed Karim, 27  Founders of YouTube  Broadcasts 100 million short videos daily on myriad subjects  Sold to Google

Pierre Omidyar b  Founder of EBay, which made the promise of the Internet a reality by connecting far-flung customers with the goods they wanted to buy

Blake Ross and David Hyatt  Blake is an American software developer, who is probably best known for starting the Mozilla Firefox project. Firefox was released in 2004, when Ross was 19 years old. Firefox got over 100 Million downloads within its first year of being on the market!

Jeremy Stoppelman  YELP

Mario Lavandeira  Perez Hilton

Matt Mullenweg (25 Years Old)  Matthew Mullenweg is the founder of WordPress, the software that runs this blog and millions of others out there. genius, easy to use blogging software. He has been offered over $250,000,000 for his company which he turned down.

David Karp (22 Years Old)  Tumblr is a blogging platform that anyone can use. The service was built with customization and ease of use in mind.

Noah Everett (24 Years Old)  Noah is the founder of the popular image upload website, TwitPic. His website has grown with the growth of the social media website Twitter and is now one of the top 200 websites in the world image

Sam Tarantino & Josh Greenberg (Both 23 Years Old)  GrooveShark was launched in private beta in early 2007, and is now a huge online music search engine and streaming service. GrooveShark employs 40 people (as of december 2007) and is part of the Escape Media Group which was formed in march 2006.

Conrad Hilton  Founded the first coast to coast hotel chain and then the first international hotel brand.

William Harley, Arthur Davidson  Put an engine on a bike and created Harley- Davidson

Phil Knight  Founded Nike  an American business magnate. He is the co- founder and Chairman of Nike, Inc. He resigned as the company's chief executive officer in 2004, while retaining the position of chairman of the board. As of 2011, Knight's stake in Nike gives him an estimated net worth of US$13.1 billion,

Donald Trump  Real Estate  (born June 14, 1946) is an American business magnate, television personality and author. He is the chairman and president of The Trump Organization and the founder of Trump Entertainment Resorts. Trump's extravagant lifestyle, outspoken manner and the reality show The Apprentice

Dave Thomas  Thomas was the founder of Wendy's, a fast-food restaurant chain specializing in hamburgers. He is also known for appearing in more than 800 commercial advertisements for the chain from 1989 to 2002, more than any other person in television history.

Fred Smith  is the founder, chairman, president, and CEO of FedEx, originally known as Federal Express, the first overnight express delivery company in the world, and the largest in the United States. The company is headquartered in Memphis, Tennessee.

Russell Simmons  Def Jam Records  pioneering hip-hop label Def Jam, and creator of the clothing fashion lines Phat Farm, Argyleculture, and American Classics. Phat Farm Phat Farm  Russell Simmons is the third richest figure in hip- hop, having a net-worth estimate of $340 million as of April 2011.

Howard Schultz  Starbucks

Ralph Roberts  Ralph Joel Roberts (born March 13, 1920) is the co-founder of Comcast Communications and was its chief executive officer for 46 years. As of 2011 he serves as founder and chairman emeritus of Comcast's board of directors. His son, Brian L. Roberts, is the current CEO.

Herb Kelleher  During his tenure as CEO of Southwest, Southwest is consistently named among the top five Most Admired Corporations in America in Fortune magazine's annual poll. Fortune has also called him perhaps the best CEO in America.

Fernando Hernandez  AT&T

Joyce Hall  Hallmark  he and his brothers were operating a store selling not only postcards but also greeting cards. The store burned in 1915, and a year later, Hall bought an engraving business and began printing his own cards, which he marketed under the Hallmark brand name. It turned into a bigger business than he had had before.

A.P. Giannini  Bank of America

Donald and Doris Fisher  The Gap

Mary Kay Ash  Mary Kay  She considered the Golden Rule the founding principle of Mary Kay Cosmetics and the company's marketing plan was designed to allow women to advance by helping others to succeed. She advocated "praising people to success" and her slogan "God first, family second, career third" expressed her insistence that the women in her company keep their lives in balance

Steven Spielberg - Dreamworks  Steven Allan Spielberg is an American film director, screenwriter, producer, video game designer, and studio entrepreneur.

Vera Wang – Vera Wang Fashions  is a Chinese American fashion designer based in New York City and former figure skater. She is known for her wide clientele of couture bridesmaid gowns and wedding gown collections.

Sean Combs – Sean John Clothing / Bad Boy Entertainment  Sean John Combs (born November 4, 1969 ) is an American rapper, singer, record producer, actor, and entrepreneur.

Tyler Perry – Tyler Perry Productions  Tyler Perry (born Emmitt Perry, Jr.; September 13, 1969) is an American actor, director, playwright, entrepreneur, screenwriter, producer, author, and songwriter

Paul Orfaleo – Kinko’s  nicknamed "Kinko" because of his curly red hair, founded the copy- chain Kinko's Kinko's

Mark Burnett – Television Show Producer  Current series for Burnett are Survivor, Celebrity Apprentice, The Voice, Are You Smarter Than a Fifth Grader? and the People's Choice Awards.

Larry Page and Sergey Brin - Google  Still, the company famously founded by the Russian-born Brin and Michigan-born Page in a Stanford dorm room is now a giant with a market value of $174 billion, fast expanding into new categories like mobile devices and software applications.