Ch. 6

1
Ch. 6

• Entrepreneurship and Small Business Management

2
Becoming an Entrepreneur

• Entrepreneur- Someone who takes a risk in
  starting a business to earn a profit.
• Entrepreneurship- The process of starting,
  organizing, managing, and assuming the
  responsibility for a business.

3
Characteristics of successful entrepreneurs

4
Characteristics of successful entrepreneurs

• Hard Worker
• Risk Taker
• Self-confident
• Persistent
• Energetic
• Goal-oriented
• Independent
• Competitive
• Reliable

5
Financing

• Small business owners MUST have some way to
  finance their business.
• Most entrepreneurs finances comes from friends
  or family (More than 50).
• Venture capital- Money provided by large
  investors to finance new products and new
  businesses.
• Bank Loans

6
To invest or not to invest?

• What are some questions that you would ask
  someone if presented with an investing
  opportunity?

7
Opportunities and Risks

• New business opportunities
• Innovation- An invention or creation that is
  brand new.
• Improvement- A designed change that increases the
  usefulness of a product, service or process.