Entrepreneurship What is Entrepreneurship?

Entrepreneurship Is about seeing opportunities and bringing about change Is about seeing opportunities and bringing about change It is about new: new products, new production methods, new markets, new ways of distributing, etc. It is about new: new products, new production methods, new markets, new ways of distributing, etc. It is based on innovation and the desire for change It is based on innovation and the desire for change It is looking at the world the way you want it to be, rather than the way it is It is looking at the world the way you want it to be, rather than the way it is

Opportunity Knocks? Think – Pair - Share Think – Pair - Share Identify some opportunities for new businesses Identify some opportunities for new businesses Think of the Internet, cell phones, I-Pods, computers, school events, your local community, etc. Think of the Internet, cell phones, I-Pods, computers, school events, your local community, etc.

Entrepreneurship 1. Identify an opportunity 2. Pursue that opportunity beyond your current resources 3. Believe that opportunity can be achieved Entrepreneurship =

Entrepreneurs James Dyson wanted a vacuum that worked better  invented cyclone technology (Dyson vacuums) Problem = Opportunity

Entrepreneurs David Chilton: financial advisor who couldn’t find a good financial planning book for his clients to read  wrote the Wealthy Barber (bestseller for years) Problem = Opportunity

Why Learn About Entrepreneurship? Many people choose to leave problem solving and innovation to others - Entrepreneurs do not Entrepreneurship involves trying new ideas, approaches, methods and styles

Rewards of Entrepreneurship Be your own boss Be your own boss Set your own schedule Set your own schedule Enjoyment of work Enjoyment of work Learn all aspects of a business Learn all aspects of a business Become a leader in the community Become a leader in the community Can be exciting Can be exciting

Drawbacks of Entrepreneurship Long hours Long hours Emotional energy Emotional energy Responsibility is on your shoulders Responsibility is on your shoulders Stress Stress Time away from family and friends Time away from family and friends Risk of business failure Risk of business failure