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Entrepreneurship

Entrepreneurship. Bryson Doole , Greyson Butler, Chance Cates, Chris Condon. What is an entrepreneur?. People who takes risks for business ventures. Entrepreneurship - act of starting your own business. Traits of Entrepreneurs. Must have a vision.

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Entrepreneurship

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  1. Entrepreneurship Bryson Doole, Greyson Butler, Chance Cates, Chris Condon

  2. What is an entrepreneur? • People who takes risks for business ventures. • Entrepreneurship- act of starting your own business

  3. Traits of Entrepreneurs • Must have a vision. Need a goal for company to follow. 2. Must have a true passion. Passion of leader inspires employees. 3. Must make good decisions. Support the well being of company.

  4. Continued 4. Must be a solid team builder. Recognizes strengths/weaknesses of employees. 5. Must have personality. Necessary for selling your idea/product.

  5. Small Business Advantages • Independence from boards of directors. • Close relations with customers/clients. • Opportunities to expand/grow.

  6. Small Business Disadvantages • Extremely high failure rate. • Smaller contact base. • Less expertise.

  7. Sole Proprietorship Advantages • Make ALL business decisions. • Get ALL the pay. • Hire ALL the employees.

  8. Sole Proprietorship Disadvantages • All legal/tax consequences fall on your shoulders. • Cannot take tax deductions for health or life insurance. • Investors almost never help sole proprietorships. • Taxed for personal, income, and business taxes since they represent their company

  9. How to Start a Sole Proprietorship • Get an idea that you are willing to work hard for • Pick a name that represents your product and goals • Acquire proper licensing and permits for your business • Get a loan from a bank • Begin to advertise your product

  10. Examples of Sole Proprietorships • Kinko's Paul Orfelea launched his business and maintained a sole proprietorship through expansion. • Annie's Homegrown • Ann Whitey began this business to sell organic foods.

  11. Examples of Sole Proprietorships • Ebay Pierre Omidyar created this to help his girlfriend sell her collectables.

  12. Entrepreneurial Statistics • Approximately 34 million of fresh employment opportunities were created by entrepreneurs since 1980 • http://goarticles.com/article/Importance-of-entrepreneurship/1036875

  13. Entrepreneurial Statistics • Almost 2/3 of all innovations are due to entrepreneurs. • http://goarticles.com/article/Importance-of-entrepreneurship/1036875/

  14. Entrepreneurial Statistics • America is a nation where a strong entrepreneurial culture establishes favorable conditions that create approximately 600,000 new firms per year. http://www.mendeley.com/research/clusters-economic-development-outcomes-analysis-link-bteween-clusterings-industry-growth/

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