Should You Become An Entrepreneur? - PowerPoint PPT Presentation

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Should You Become An Entrepreneur?

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Should You Become An Entrepreneur? Starting Your Own Business Entrepreneurs: Present and Past Entrepreneurs: People who own, operate, and take the risk of a business ... – PowerPoint PPT presentation

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Title: Should You Become An Entrepreneur?


1
Should You Become An Entrepreneur?
  • Starting Your Own Business

2
Entrepreneurs Present and Past
  • Entrepreneurs People who own, operate, and take
    the risk of a business venture.
  • Entrepreneurship The process of running a
    business of ones own.
  • Entrepreneurs try to identify the needs of the
    marketplace and to meet those needs by supplying
    a service or product.

3
Entrepreneurs vs. Employees
  • Entrepreneurs
  • Make decisions
  • Take risks
  • Are directly affected by the consequences
  • Employees
  • May also make decisions
  • Risk little
  • Not affected directly by the consequences

4
Types of Entrepreneurial Businesses
  • Manufacturing
  • Wholesaling
  • Retailing
  • Service
  • Agriculture
  • Mining extracting

5
Characteristics of Successful Entrepreneurs
  • Independent
  • Self-confident
  • Determination and Perseverance
  • Goal-Oriented
  • Have a need to achieve and set high standards for
    themselves
  • Creative
  • Act Quickly

6
Self-Assessment
  • To determine if entrepreneurship is right for
    you, you need to perform a self-assessment.
  • An evaluation of your strengths and weaknesses.

7
Assess Your Interests
  • Hobbies and Interests
  • Past Experiences

8
Assess Your Aptitude
  • Aptitude is the ability to learn a particular
    kind of job.

9
Advantages and Disadvantages
  • Advantages
  • Own Boss
  • Choose a business that interests you
  • Can be creative
  • Can make lots of money
  • Disadvantages
  • Risky
  • Uncertain and irregular income
  • Long hours
  • Make all decisions

10
Investigate Opportunities
  • Public Library
  • Small Business Administration
  • Talk to Entrepreneurs
  • Trade Shows

11
Questions to Ask
  • Is there a market for this type of business?
  • How much money would it take to start this
    business?
  • How many hours a week is it likely to take to run
    this business?
  • What risks are associated with this business?
  • Does my background prepare me to run this kind of
    business?
  • How much money could I make running this business?

12
Setting Goals
  • Financial Goals
  • How much money will you earn?
  • How quickly will you pay off debts?
  • Non-Financial Goals
  • Personal Satisfaction
  • Serve the Community
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