1. Entrepreneurship DO NOW: Get a Book from the Closet
Page 3 Read Delia’s Dilemma
Answer questions 1 - 4
We will be taking notes and doing book work today. Make sure you have a pen and notebook!!

2. SHOULD YOU BECOME AN ENTREPRENEUR?
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Chapter 1
SHOULD YOU BECOME AN ENTREPRENEUR?
LESSONS
1.1 Entrepreneurs (1-11)
1.2 Is Entrepreneurship Right for You?
1.3 Identify Business Opportunities and Set Goals
Chapter 1

3. WHAT IS AN ENTREPRENEUR?
Chapter 1
WHAT IS AN ENTREPRENEUR?
Definitions
People who own, operate, and take the risk of a business venture are called entrepreneurs.
Entrepreneurship is the process of running a business of one’s own.
Employees vs. entrepreneurs
Why do people become entrepreneurs?
Emphasize the definition of an entrepreneur.
Explain the difference between employees and entrepreneurs.
Employees risk little
Discuss why people become entrepreneurs:
To leave the corporate environment
Work at home
Pursue a personal dream

4. ADVANTAGES OF ENTREPRENEURSHIP
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ADVANTAGES OF ENTREPRENEURSHIP
Entrepreneurs are their own bosses.
Entrepreneurs can choose a business that interests them.
Entrepreneurs can be creative.
Entrepreneurs can make lots of money.

5. DISADVANTAGES OF ENTREPRENEURSHIP
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DISADVANTAGES OF ENTREPRENEURSHIP
Entrepreneurship is risky.
Entrepreneurs face uncertain and irregular incomes.
Entrepreneurs work long hours.
Entrepreneurs must make all decisions by themselves.
Ask students:
Do you think the advantages of entrepreneurship outweigh the disadvantages?
Why or why not?

6. CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS
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CHARACTERISTICS OF SUCCESSFUL ENTREPRENEURS
Successful entrepreneurs
are independent
are self-confident
have determination and perseverance
are goal-oriented
have a need to achieve and to set high standards for themselves
are creative
are able to act quickly
Discuss each characteristic.
Ask students to think of an example to illustrate each characteristic.

7. IS ENTREPRENEURSHIP RIGHT FOR YOU?
Chapter 1
IS ENTREPRENEURSHIP RIGHT FOR YOU?
GOALS
Identify the characteristics of successful entrepreneurs.
Assess whether you have what it takes to succeed in your own business.

8. TYPES OF ENTREPRENEURIAL BUSINESSES
Chapter 1
TYPES OF ENTREPRENEURIAL BUSINESSES
Manufacturing
Wholesaling
Retailing
Service
Agricultural
Mining and extracting
Refer students to the chart in their book, and discuss examples in the community of some of the types of businesses listed.
Ask students to think of other examples and to categorize them.

9. EXAMPLES OF MANUFACTURING BUSINESSES
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EXAMPLES OF MANUFACTURING BUSINESSES
Apparel and other textile products
Chemicals and related products
Electronics and other electrical equipment
Fabricated metal products
Food products
Industrial machinery and equipment
Printing and publishing
Rubber and miscellaneous plastic products
Stone, clay, and glass products

10. EXAMPLES OF WHOLESALING BUSINESSES
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EXAMPLES OF WHOLESALING BUSINESSES
Apparel
Electrical goods
Groceries and related products
Hardware, plumbing, heating equipment
Lumber, construction materials
Machinery, equipment, supplies
Motor vehicles, automotive equipment
Paper, paper products
Petroleum, petroleum products

11. EXAMPLES OF RETAILING BUSINESSES
Chapter 1
EXAMPLES OF RETAILING BUSINESSES
Auto and home supply stores
Building materials and supply stores
Clothing stores
Florists
Furniture stores
Gift, novelty, and souvenir stores
Grocery stores
Hardware stores
Jewelry stores
Retail bakeries
Shoe stores
Sporting goods and bicycle stores

12. EXAMPLES OF SERVICE BUSINESSES
Chapter 1
EXAMPLES OF SERVICE BUSINESSES
Appliance repair
Automotive repair
Babysitting
Bookkeeping
Consulting
Dance instruction
Electrical services
Exterminators
Flower decorating
House cleaning
Lawn care
Painting
Plumbing
Translating
Travel agency
Tutoring

13. SMALL BUSINESSES DOMINATE THE U.S. ECONOMY
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SMALL BUSINESSES DOMINATE THE U.S. ECONOMY
Emphasize the graph demonstrates that most businesses in the United States are entrepreneurships.
Chapter 1

14. ENTREPRENEURS IN UNITED STATES HISTORY
Chapter 1
ENTREPRENEURS IN UNITED STATES HISTORY
Entrepreneurs who changed America
Nineteenth century entrepreneurs
Early 20th century entrepreneurs
Entrepreneurs today
More than 5.8 small businesses contribute to the economy.
Small businesses employ more workers than all of the country’s large corporations combined.
Explain that entrepreneurship benefits a country by
strengthening the economy,
changing how things are done,
filling unmet needs, and
increasing productivity.
In many cases, the entrepreneurs described started businesses that are large corporations today.

15. ASSESS YOUR SUITABILITY FOR ENTREPRENEURSHIP
Chapter 1
ASSESS YOUR SUITABILITY FOR ENTREPRENEURSHIP
Assess your interests
Hobbies and interests
Past experiences
Assess your aptitude
Point out that not everyone is suitable for entrepreneurship.
Explain how hobbies, interests, and past experiences may suggest the type of business to enter.
Discuss aptitude:
the ability to learn a particular kind of job.

16. JOB ATTRIBUTES CHECKLIST
Chapter 1
JOB ATTRIBUTES CHECKLIST
I enjoy working with numbers.
I enjoy working outdoors.
I enjoy working with my hands.
I enjoy selling.
I like working with people.
I prefer to work alone.
I like supervising other people.
I like knowing exactly what it is I am supposed to do.

17. Lesson 1.3 IDENTIFY BUSINESS OPPORTUNITIES AND SET GOALS
Chapter 1
Lesson 1.3 IDENTIFY BUSINESS OPPORTUNITIES AND SET GOALS
GOALS
Recognize different businesses you could start.
Identify your own personal goals.
How can you find out about different business opportunities?

18. INVESTIGATE OPPORTUNITIES
Recognize different businesses you could start.
Chapter 1
INVESTIGATE OPPORTUNITIES
Library
Books on entrepreneurship (examples)
Magazines: for entrepreneurs and trade magazines for certain businesses (examples)
Government publications: County Business Patterns (example of government grant publications)
Internet: entrepreneur.com
Small Business Administration (sba.gov)
Trade shows and trade associations (example list of trade shows)

19. COMPARE DIFFERENT OPPORTUNITIES
Recognize different businesses you could start.
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Chapter 1
COMPARE DIFFERENT OPPORTUNITIES
Is there a market? Will people buy?
How much money would it take? Will I be able to borrow that much?
How many hours a week are required? Am I willing to commit that much time?
What are the risks? What is the rate of business failure?
Do I have the right background? Do others who own this kind of business have more experience?
How much money could I make?
Chapter 1

20. SETTING GOALS Financial goals Nonfinancial goals
Identify your own personal goals.
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Chapter 1
SETTING GOALS
Financial goals
How much money you will earn
How quickly you can pay off debts
Nonfinancial goals
Personal satisfaction
Serve a community need
Do something you like
Enjoy personal independence
Chapter 1

21. Chapter 1 Think Critically:
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Chapter 1
Chapter 1 Think Critically:
Choose a business idea that appeals to you. For this business, answer the six assessment questions listed in this lesson. Is this a realistic choice for you? Why or why not?
Chapter 1