What is Entrepreneurship

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What is Entrepreneurship

  1. 1. Entrepreneurship What is Entrepreneurship?
  2. 2. Did You Know? You have endless opportunities.
  3. 3. Entrepreneurship • Is about seeing opportunities and bringing about • • • change It is the search for new products, new production methods, new markets, and new forms of an organization It is based on innovation and the desire for change It is looking at the world the way you want it to be, rather than the way it is
  4. 4. Entrepreneurship • Entrepreneurship is the practice of starting new • • organizations, particularly new businesses generally in response to identified opportunities Entrepreneurship is the process of looking at things in such a way that possible solutions to problems and perceived needs may evolve in venturing The most important factor in entrepreneurship is the ability to recognize an opportunity
  5. 5. Entrepreneurship Entrepreneurship = 1. Identify an opportunity 2. Pursue that opportunity beyond your current resources 3. Believe that opportunity can be achieved
  6. 6. Why Learn About Entrepreneurship • The goal of entrepreneurial education is to teach • • • young people to see opportunities and act on them Many people choose to leave problem solving and innovation to others - Entrepreneurs do not Entrepreneurship involves learning about new ideas, approaches, methods and styles that can be tested Students should understand that entrepreneurial education and spirit applies to everyone regardless of what position, occupation or profession an individual selects.
  7. 7. Importance of Entrepreneurial Education • • • To respond to change Adjust to global, competitive economy To stimulate new business and the economy • To help reduce the number of failed business ventures
  8. 8. Why Do Businesses Fail? • The number one reason businesses fail is • • • • • because of poor planning Too much competition Poor location Improper marketing Inadequate funding Poor management
  9. 9. Rewards of Entrepreneurship • • • • • • • Be your own boss Financial freedom Set your own schedule Enjoyment of work Learn all aspects of a business Become a leader in the community Can be exciting
  10. 10. Drawbacks of Entrepreneurship • • • • • • Long hours Emotional energy Responsibility is on your shoulders Stress Time away from family and friends Risk of business failure

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