1. SAE Entrepreneurship Mrs. Castorena Mr. MacKay

2. SAE What is an Entrepreneur? An entrepreneur is a person who organizes and manages a business undertaking by assuming the risk for the sake of profit. Any person who starts and operates a business is an entrepreneur.

3. SAE Entrepreneurship Entrepreneurship: Plan, implement, operate and assume financial risks in a business. The entrepreneur owns the materials and other required inputs and keeps financial records to determine return on investments.

4. SAE Three Aspects of Entrepreneurship 1.Identify business opportunities 2.Commit resources 1.Time and Money 3.Create a business

5. SAE Successful Entrepreneurs According to the Small Business Administration, successful entrepreneurs have five characteristics: –Drive –Thinking Ability –Aptitude for Human Relations –Communication Skills –Technical Ability

6. SAE Successful Entrepreneurs What do you think? –In groups of three, write the advantages, disadvantages and business opportunities you foresee on a large white sheet of paper –Gallery walk

7. SAE Entrepreneurship Advantages Some advantages –You are your own boss –Enjoy the profits from your efforts –Sense of pride in your business –Flexibility in your work schedule

8. SAE Entrepreneurship Disadvantages Some disadvantages –Will need to put in long hours –Need money to start –Have to keep up with government rules and regulations –Make difficult decisions (hiring, firing, etc.) –May lose money