1. Entrepreneurship
Being an Entrepreneur

2. Objectives Define entrepreneur
Learn about three different paths to entrepreneurship
Discover where to get business help
Learn about home- and internet-based businesses

3. What is an Entrepreneur?
A person who is willing to take a risk, usually a financial one, in the hunt for new business opportunities. The entrepreneur is commonly seen as a business leader and innovator.
Ask students if they can name any famous entrepreneurs. Some examples include Oprah Winfrey, Carlos Slim Helú, Donald Trump, Henry Ford, Bill Gates, Tyra Banks, Mark Zuckerberg, Sean “Diddy” Combs, J.K. Rowling, Walt Disney, and Steve Jobs.

4. Characteristics of an Entrepreneur

5. Characteristics of an Entrepreneur
Risk Taker
Passion
Motivation
Discipline & Dedication
Hard Working
Honest
Responsible
Adaptability & Flexibility
Networking capabilities
Self Confident
Innovative
Creative
Organized
Opportunistic

6. Paths to Entrepreneurship
Buy an existing business
Begin your own business
Buy a franchise
Ask students to discuss if anyone they know has become an entrepreneur using one of these methods.

7. of the Three Paths to Entrepreneurship
&
of the Three Paths to Entrepreneurship

8. Buying an Existing Business
Established business
Clients
Fully trained staff
Immediate profits
Existing advertising
Pre-existing paperwork
Flexible schedule
Room for growth
Cost of purchase
Transfer fees
Potential lawsuit
Long hours
Can ruin you financially
Buying an Existing Business

9. Starting a New Business
Freedom to try something new
Flexible hours
Create your own business image
High startup costs
Time-consuming
Long hours
Possibility of failure
Stress
Can ruin you financially
Starting a New Business

10. Buying a Franchise Name & brand recognized
Company will help you from purchasing the property through your 1st anniversary
Long history of established successful franchises
Training for you & employees
Opportunity to be part of national marketing campaigns
Lower risk of unforeseen costs or problems
Pre-established supply lines & major purchasing power
Pride of owning a business
Share part of the profits with the company
Long-term contract that is hard to get out of
Expensive
Lots of hours in the beginning
Not a guarantee of success
Can ruin you financially
Buying a Franchise

11. Tips for Entrepreneurs
Demonstrate a clear understanding of the customer’s wants and needs
Start with a cool idea that is unique enough to stand out from the competition
Do research to gauge the willingness of potential customers to buy

12. Places to Go for Help Internet Experienced entrepreneurs
Chamber of Commerce
Small Business Administration (SBA)
College/University
Community

13. Home-Based Business Operates out of an entrepreneur’s home
Sometimes has office space in the home so the owner can meet with clients

14. Internet-Based Business
Does not necessarily have a physical location
Some can be home-based

15. Summary Defined entrepreneur
Learned about three different paths to entrepreneurship
Discovered where to get business help
Learned about home- and internet-based businesses