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What does it take for you to be an Entrepreneur?

What does it take for you to be an Entrepreneur?. Lesson Objectives. Examine entrepreneurial statistics Identify characteristics of successful entrepreneurs Determine your entrepreneurial outlook. Who are Entrepreneurs?. AGE 53% over 35 16% under 25. EDUCATION 27% some college

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What does it take for you to be an Entrepreneur?

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  1. What does it take for you to be an Entrepreneur?

  2. Lesson Objectives • Examine entrepreneurial statistics • Identify characteristics of successful entrepreneurs • Determine your entrepreneurial outlook

  3. Who are Entrepreneurs? AGE • 53% over 35 • 16% under 25 • EDUCATION • 27% some college • 33% college degree

  4. Characteristicsof Entrepreneurs

  5. Characteristics of Successful Entrepreneurs Entrepreneurs are willing to work until a job is done, no matter how long it takes. Persistent

  6. Characteristics of Successful Entrepreneurs Entrepreneurs continually look for new ways to solve old problems. Creative

  7. Characteristics of Successful Entrepreneurs Entrepreneurs do not “pass the buck”. They take responsibility for their decisions and actions. Responsible

  8. Characteristics of Successful Entrepreneurs Entrepreneurs want to know as much as possible about anything that might affect their ventures. They conduct research and ask questions to solve problems. Inquisitive

  9. Characteristics of Successful Entrepreneurs Entrepreneurs decide where they want to go and then set out to get there. Goal-Oriented

  10. Characteristics of Successful Entrepreneurs Entrepreneurs want to set their own agendas and schedules. They want to make their own decisions. Independent

  11. Characteristics of Successful Entrepreneurs Entrepreneurs have high expectations of themselves. Self-Demanding

  12. Characteristics of Successful Entrepreneurs Entrepreneurs believe in themselves and act accordingly. Self-Confident

  13. Characteristics of Successful Entrepreneurs Entrepreneurs like to take risks, but they are not reckless. They seek opportunities that offer both a challenge and a reasonable chance of success. Risk-Taking

  14. Characteristics of Successful Entrepreneurs Once entrepreneurs achieve their goals, they begin looking for new challenges. Restless

  15. Characteristics of Successful Entrepreneurs • Entrepreneurs are doers as opposed to spectators. They make decisions and act on them. Action-Oriented

  16. Characteristics of Successful Entrepreneurs Entrepreneurs are energetic and passionate about their pursuits. Enthusiastic

  17. What about “Foundational” Skills? • Math skills - basic arithmetic - record-keeping • Problem solving and decision-making skills • Technical skills -computer -industry skills • Basic business skills -economics -marketing -finance • Communication skills -person-to-person -telephone -written • Human relations skills -enjoy people -cooperative -persuasive

  18. Developing Entrepreneurial Traits Become “Achievement-Oriented” • Think like an achiever with high standards and goals • Use the language of an achiever • Plan for achievement – put goals in writing • Act positive and surround yourself with positive people

  19. Reasons for Business Failure • Lack of direction • Impatience • Greed • Taking action without thinking it through first • Poor product quality • Poor financial planning • Poor sales momentum • Failure to anticipate market trends • Lack of managerial ability or experience • Indecisiveness • Bad human relations Source: http://smallbusiness.yahoo.com/r--a-2322--i

  20. READ WRITE OBSERVE PRACTICE

  21. Activity after taking notes: • Create a haiku using one of the characteristics. • What is haiku? • an unrhymed verse form of Japanese origin having three lines containing five, seven, and five syllables respectively • Line #1: 5 syllables • Line #2: 7 syllables • Line #3: 5 syllables • Examples

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