1. Entrepreneurship
Understand activities and careers in small business management and entrepreneurship.

2. Small Business Independently owned and operated
Must have 100 or fewer employees

3. Entrepreneurship
The process of starting and running one’s own business.
Takes initiative
Involves risk

4. Market Economy The US government has a Free Enterprise System
Opportunity to start and own a business
Business ventures are risky, but is usually worth the investment

5. Basic Forms of Business Ownership
Sole Proprietorship – A business owned and operated by one person.

6. Basic Forms of Business Ownership
Partnership - Form of business where two or more individuals share assets, liabilities, and profit.

7. Basic Forms of Business Ownership
Corporation – A business owned by stockholders and run by a CEO.

8. Basic Forms of Business Ownership
Franchise – A legal agreement that gives an individual the right to market a company’s product or service in a particular area.

9. Business Functions of an Entrepreneur
1. Financial management: Understands the financial concepts and tools used in making business decisions.
2. Human Resource Management: Understands the concepts and strategies needed to acquire, motivate, develop, and terminate staff.
3. Information Management: Understands the concepts, systems, and tools needed to access, process, maintain, and evaluate, information for business decision-making.

10. Business Functions of an Entrepreneur
4. Marketing management: Understands the concepts, systems, and tools needed to access, process, maintain, and evaluate, information for business decision-making.
5. Operations Management: Understands the process and systems implemented to facilitate daily business operations.

11. Business Functions of an Entrepreneur
6. Risk Management: Understands the concepts, strategies, and systems that businesses implement and enforce to minimize loss.
7. Strategic Management: Understands the processes, strategies and systems needed to guide the overall business organization.

12. Entrepreneurial Career Opportunities
Party Planner
Aerobics Instructor
Catering Business
Cleaning Service
Lawn Care Service
Recycling Service
Car Wash Service
Window Washing
Website Developer
Architect
Designer
Musician
Chef
Bed and Breakfast
Home Decorating
Bike Repair

13. Entrepreneurial Career Opportunities continued …
Limousine Service
Webmaster
Barber Shop
Beauty Consultant
Landscaper
Pet Care Service
Tutoring Service
Computer Repair
Videotaping Service
House-sitting Service
Crafts
Carpet Cleaner
Automotive Repair
Florist
What are some others?

14. Successful Entrepreneurs
P. T. Barnum
Fred Deluca
Henry Ford
William Rosenburg
William Gates
Oprah Winfrey
Liz Claiborne
Walt Disney
Thomas Edison
Debbie Fields
Bud Hadfield
Andrew Carnegie
What did they do?

15. Successful Entrepreneurs continued
Ted Turner
Larry Ellison
Mary Kay Ash
Donald Trump
Dave Thomas
Ray Kroc
Sam Walton
Phil Knight
Charles Lazarus
Steven Spielberg
Richard Branson
Edward Lowe
Colonel Sanders
Sean Combs
What did they do?