2. whAT IS AN entrepreneur
fINANCIAL rISK
pROBELM-sOLVER
innovator
sMALL bUSINESS
enterprising
Kevin Plank

3. Why Become an Entrepreneur?
1.) Time
2.) Fulfillment
3.) Ownership
4.) Control Profits
5.) Work Environment
Its not always about money

4. BENEFITS COSTS INDEPENDENCE FAILING LOVING WHAT YOU DO OBSTACLES
FINANCIAL REWARD
SELF-ESTEEM
FAILING
OBSTACLES
FINANCIAL INSECURITY
TIME AND EFFORT

5. do you have what it takes?

6. Discovering opportunities
Think, Observe, Listen
1.) Exploit Changes in the World
2.) Problems create opportunities
3.) Constantly Search
- What frustrates me when I try and buy something?
- What product/service would make things better/easier?
- What isn’t effective in your life?
4.) Use your Imagination
5.) Identify Needs/Wants of the Market

7. + A Business Opportunity is: 1.) Attractive to Customers
2.) It will work in your business environment
3.) Executed in the window of opportunity that exists
4.) You have the resources and skills to create the business.

8. Ownership Opportunities
Start-up, Acquisition, franchise, licensing

9. Acquisitions pURCHASING A pROVEN eNTITY rESEARCH pREPARE
wHAT WILL YOU CHANGE? kEEP THE sAME?

10. fRANCHISES
eASY TO sTART
Proven business
customer base
support

11. lICENSING Pay for rights for use of products/BRANDS/IDEAS rOYALITIES
rEQUIREMENTS

12. US Patent and Trademark Office
ETHICS
MAKE SURE IT IS YOUR IDEA

13. What is success?
What will indicate that your venture is successful?

14. Follow the marketing concept

15. Why do Businesses Fail?