E mpowering I magination A pplying K nowledge E xploring I nnovations T omorrow S eizing O pportunities A ccelerating B usiness I nspiring I nnovations E mpowering I magination A pplying Knowledge Explore S eizing O pportunities A ccelerating B usiness I nspiring T omorrow E mpowering I magination A pplying K nowledge E xploring Innovation T omorrow S eizing O pportunities A ccelerating Business I nspiring T Overview of Entrepreneurship

An Entrepreneur:  Acts with passionate purpose  Desires independence  Recognizes opportunity  Manages risk and uncertainty  Uses resources  Creates value

Overview of Entrepreneurship Acts with Passionate Purpose  Identifies consumer need  Assumes personal sacrifice  Seeks solutions  Acts decisively  Learns quickly  Pursues goal and results

Overview of Entrepreneurship Desires Independence  Possesses drive to achieve and grow  Realizes strengths and weaknesses  Maintains a goal perspective  Invests long, irregular hours  Seeks personal satisfaction/profitability  Supports community activities

Overview of Entrepreneurship Recognizes Opportunity  Identifies problems/strives for solutions  Possesses ability to adapt and change  Evaluates individual strengths to build teams  Adapts to changing marketplace  Analyzes and reacts to competition

Overview of Entrepreneurship Manages risk  Invests personal savings and time  Segregates needs from wants  Chooses between debt and equity  Seeks knowledgeable investors  Implements bootstrapping techniques  Utilizes financial analysis tools

Overview of Entrepreneurship Uses Resources  Recognizes people strengths  Capitalizes on communication skills  Designs facility based on needs  Finds cost-effective materials  Seeks financial backing  Implements innovative solutions

Overview of Entrepreneurship Creates value! Small Businesses:  Provide nearly 75 percent of new jobs  Represent 99.7 percent of all employers  Employ 50.1 percent of private work force  Account for 39.1 percent of high tech jobs  Represent 97 percent of all U.S. exporters

Overview of Entrepreneurship An Entrepreneur:  Acts with passionate purpose  Recognizes opportunity  Desires independence  Manages risk and uncertainty  Uses resources  Creates value

Overview of Entrepreneurship Discussion Questions:  Name two local businesses that were established by entrepreneurs.  Discuss their products/services.  How do they stay competitive?  Write about their risks.