The Entrepreneur By Joel MacDonald

What Is an Entrepreneur? A risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. A risk taker in the private enterprise system, a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business. Tony Fadell Bill gates Sam Walton

Three Types of Entrepreneurs Classic Entrepreneur: A person who identifies a business opportunity and allocates available resources to tap that market. Intrapreneurs: Entrepreneurially oriented people who seek to develop new products, ideas, and commercial centures within large organizations. Change Agents: Managers who seek to revitalize established firms to keep them competitive in today’s marketplace.

Characteristics of Entrepreneurs to be their own boss to succeed finically for Job Security for improved quality of life Vision High Energy Level Need to Achieve Self-Confidence and Optimism Desire Tolerance for Failure Creativity Internal Locus of Control Tolerance for Ambiguity

Starting a New Venture Select a Business Idea Select a Business Idea Create a Business Plan Create a Business Plan Find Financing Find Financing Follow the Business Plan Follow the Business Plan

Affect on the Economy Create Major Inventions and Innovations Create Major Inventions and Innovations Create New Jobs Create New Jobs Provide Opportunities for Women and Minorities Provide Opportunities for Women and Minorities

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