1. Take out a pen and paper to take notes!!!
Entrepreneurs
Take out a pen and paper to take notes!!!

2. Definitions
Entrepreneurs- people who own, operate, and take the risk of a business venture
Entrepreneurship- The process of running a business of one’s own
Employee- people who work for someone else

3. 6 Types of Entrepreneurial Business
Manufacturing- actually produce the products they sell
Wholesaling- sell the products to people other than the final customer
Retailing- selling products to people
Service- sell services

4. 6 Types of Entrepreneurial Businesses con’t
Agricultural- generate fresh produce & other farm products
Mining & extracting- take resources like coal out of the ground so they can be consumed

5. Small Business Employ fewer than 20 people!

6. Characteristics of successful Entrepreneurs
Independence
Self-confident
Determination & perseverance
Goal-orientated
The need to achieve & set high standards for themselves
Are able to act quickly

7. Advantages of Entrepreneurship
They are their own boss
They can choose a business that interest them
They can be creative
They can make lots of money

8. Disadvantages of Entrepreneurship
Entrepreneurship is risky
Entrepreneurs face uncertain an irregular incomes
Entrepreneurs work long hours
Entrepreneurs must make all decisions by themselves

9. THINK CRITICALLY!!
Entrepreneurs can fail even if they are committed and have the characteristics needed to be successful. Why do you think this can happen?
Why is it important for entrepreneurs to choose a field that they will enjoy?
Do you think the advantages of entrepreneurship outweigh the disadvantages? Why or why not?

10. Business Opportunities and Setting Goals
The library has resources that can help you examine different opportunities. For example:
Books on entrepreneurship
Magazines for entrepreneurs
Trade magazines
Government publications
Small Business Administration (SBA) is an organization that exists to help small businesses and their owners.

11. THINK CRITICALLY!!
Choose a business idea that appeals to you. For this business, answer the six assessment questions listed in this lesson on a sheet of paper. Is this a realistic choice for you? Why or why not?
In terms of annual income, what financial goals have you set for yourself for five years after you graduate? What non-financials goals have you set that becoming an entrepreneur can help you achieve? Are financial or non-financial goals more important to you? Why?

12. MATH CONNECTIONS!!!
You live near the beach and have a passion for snorkeling. Your dream is to give snorkeling lessons. You estimate that after expenses, you earn $10 per lesson. Your income goal is $15,000 per year. How many lessons do you need to give to achieve this goal? Is this goal realistic?

13. COMMUNICATION!!!
Make a list of personal non-financial goals you would like to achieve through entrepreneurship.