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Ch. 6

Ch. 6. Entrepreneurship and Small Business Management. 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.

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Ch. 6

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  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.

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