starting your own business the entrepreneurship alternative
Download
Skip this Video
Download Presentation
Starting Your Own Business: The Entrepreneurship Alternative

Loading in 2 Seconds...

play fullscreen
1 / 20

Starting Your Own Business: The Entrepreneurship Alternative - PowerPoint PPT Presentation


  • 130 Views
  • Uploaded on

6. Chapter. Starting Your Own Business: The Entrepreneurship Alternative. 1. 2. 3. 4. 5. 6. 7. Learning Objectives. Define what is an entrepreneur. Identify the different categories of entrepreneurs. Explain why people choose entrepreneurship as a career path.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about ' Starting Your Own Business: The Entrepreneurship Alternative' - latifah-pugh


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide2

1

2

3

4

5

6

7

Learning Objectives

Define what is an entrepreneur.

Identify the different categories of entrepreneurs.

Explain why people choose entrepreneurship as a career path.

Discuss the environment for entrepreneurs.

Identify the characteristics of entrepreneurs.

Summarize the process of starting a new venture.

Explain intrapreneurship.

slide3
An entrepreneur is a person who seeks a profitable opportunity and takes the necessary risks to set up and operate a business.

Differ from many small-business owners in their strong desire to make their business grow.

Differ from managers through their overriding responsibility to use the resources of the organization to accomplish their goals.

Willing to take risks.

What is Entrepreneurship?

slide4

Categories of Entrepreneurs

  • Classic Entrepreneurs
  • Serial Entrepreneurs
  • Social Entrepreneurs
slide5
In a recent year, 560, 000 new businesses created in the United States, with highest rate in construction and service industries

The past two decades have shown a heightened interest in entrepreneurial careers.

People choose entrepreneurship for many reasons:

Heightened publicity surrounding celebrity entrepreneurs

Dissatisfaction with traditional work

Their ideas fulfill customer needs

Entrepreneurship as a Career

slide7
Being Your Own Boss

Self-management is the motivation that drives many entrepreneurs.

Financial Success

Entrepreneurs are wealth creators.

Job Security

Over the past ten years, large companies have eliminated more jobs than they have created.

Quality of Life

Starting a business gives the founder some choice over when, where, and how to work.

Why Entrepreneurship?

slide9
The rapid globalization of business has created many opportunities for entrepreneurs.

Globalization

slide10
Education

100 U.S. colleges and universities offer entrepreneurship majors.

Universities are helping students launch businesses.

Many programs teach entrepreneurship to young people.

Information Technology

Technology has given entrepreneurs tools that help them compete.

Entrepreneurs have used information technology to revolutionize industries.

Demographic and Economic Trends

Aging of U.S. population.

Emergence of Hispanics as nation’s largest ethnic group.

Growth of two-income families.

Education / IT / Demographic and Economic Trends

slide12
Vision - entrepreneurs begin with an overall idea for how to make their business ideas successful

High Energy Level - a willingness to work hard

Need to Achieve - entrepreneurs work hard because they want to excel

Self-Confidence - fearlessness in the face of difficult odds

Tolerance for Failure - entrepreneurs are not easily discouraged

Creativity - entrepreneurs devise innovative ways to overcome difficult problems and situations

Tolerance for Ambiguity - entrepreneurs take in stride uncertainties

Internal Locus of Control - entrepreneurs believe they can control their own fates

Entrepreneurial Characteristics

slide14
Selecting a Business Idea

Find something you love to do and are good at doing

Can your idea satisfy a need in the marketplace?

Entrepreneurs must be sure that the idea they choose has interest in the marketplace.

Business Plan

Starting a New Venture

slide15
Advantages:

Established customers

Deal with familiar suppliers

Good/service known in marketplace

Necessary permits and licenses are already secured

Financing may be easier

Seller financing

Buying an Existing Business

slide16
Advantages:

Less risky than establishing entirely new firm

Firms in franchises showing growth include those targeting children and parents (i.e. photography, tutoring, security)

Creating a Franchise

slide17
58% of the most recent Inc. CEOs did not create a formal written plan.

But business plans do help entrepreneurs prepare enough resources and stay focused on key objectives.

Creating a Business Plan

slide18
Seed capital

Debt Financing

Credit Cards

Family and Friends

Bank Loans (SBA backed)

Equity Financing

Venture Capitalists

Angel Investors

Finding Financing

slide19
Business Incubators are a key way government supports new ventures

Clean Energy Incubator (CEI)

Enterprise Zones

Encourage entrepreneurship in specific geographic areas

Government Legislation

Immigration Act of 1990

Government Support for New Ventures

slide20
Promoting innovation within organizational structures

An idea to promote creativity

Companies promote in a variety of ways

Skunkworks

Access to resources

Intrapreneurship

ad