BENEFITS OF ENTREPRENEURSHIP EDUCATION
List of Benefits: <ul><li>Community Understanding </li></ul><ul><li>Business Management Skills </li></ul><ul><li>Orientati...
ENTREPRENEURS ARE: <ul><li>ACHIEVEMENT ORIENTED </li></ul><ul><li>HARD WORKING </li></ul><ul><li>NON-CONFORMIST </li></ul>...
Ask Yourself: <ul><li>How Can You Become More Entrepreneurial? </li></ul>
TYPES OF ENTREPRENEURS <ul><li>Self-Employed </li></ul><ul><li>Team Builders </li></ul><ul><li>Inventors </li></ul><ul><li...
CREATIVITY <ul><li>A way of thinking about everything </li></ul><ul><li>Openness to change </li></ul><ul><li>Willing to tr...
PACE (Entrepreneurship Curriculum) <ul><li>1. Your Potential As An Entrepreneur </li></ul><ul><li>2. Nature of Small Busin...
Owning A Business:   RISK or OPPORTUNITY? <ul><li>Only 1 in 7 of those businesses that  &quot;disappear&quot;  actually  &...
WHAT ARE SOME OF THE REASONS BUSINESSES DISAPPEAR? <ul><li>Sold the idea to another person or company  </li></ul><ul><li>R...
<ul><li>Remember......NOT ALL CHANGE MEANS  FAILURE IF YOU MISS AN OPPORTUNITY... . . . IT MIGHT EVEN BE A BIGGER FAILURE ...
ENTREPRENEURS BEHAVE DIFFERENTLY BECAUSE THEY ... <ul><li>Risk their own money </li></ul><ul><li>Must find customers to su...
KEY INGREDIENTS FOR ENTREPRENEURSHIP <ul><li>* PERSONAL CHARACTERISTICS </li></ul><ul><li>* TECHNICAL KNOW-HOW </li></ul><...
APTITUDES ARE OPPORTUNITIES <ul><li>What Are Your Strengths? </li></ul><ul><ul><li>Verbal or non-verbal communications </l...
HOPE. . . Helping Other People thru Enterprise <ul><li>Services to other businesses </li></ul><ul><li>Entertainment </li><...
The Business Plan <ul><li>Part I . . . Description of the Business </li></ul><ul><li>Products/Services  </li></ul><ul><li>...
The Business Plan <ul><li>Part III . . . Production/Operations Plan </li></ul><ul><li>Suppliers  </li></ul><ul><li>Regulat...
The Business Plan <ul><li>Part V . . . Financial Plan </li></ul><ul><li>Estimated Income  </li></ul><ul><li>Estimated Cost...
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Benefits Of Entrepreneurship Education

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general business entrepreneurship presentation shown on the first full day of class.

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Benefits Of Entrepreneurship Education

  1. 1. BENEFITS OF ENTREPRENEURSHIP EDUCATION
  2. 2. List of Benefits: <ul><li>Community Understanding </li></ul><ul><li>Business Management Skills </li></ul><ul><li>Orientation to Change </li></ul><ul><li>Understanding of Market Economy </li></ul><ul><li>Individual's Personal Growth </li></ul><ul><li>Expand Creative Thinking </li></ul><ul><li>Decision-Making Skills </li></ul><ul><li>Sense of Career Choices </li></ul><ul><li>Application of Technical Skills and Experiences </li></ul>
  3. 3. ENTREPRENEURS ARE: <ul><li>ACHIEVEMENT ORIENTED </li></ul><ul><li>HARD WORKING </li></ul><ul><li>NON-CONFORMIST </li></ul><ul><li>STRONG LEADER </li></ul><ul><li>TOUGH MINDED </li></ul><ul><li>SELF-CONFIDENT </li></ul><ul><li>RISK-TAKER </li></ul><ul><li>FLEXIBLE </li></ul><ul><li>GOAL-SETTER </li></ul><ul><li>ENTHUSIASTIC </li></ul><ul><li>OPTIMISTIC </li></ul><ul><li>RESOURCEFUL </li></ul><ul><li>INDEPENDENT </li></ul>
  4. 4. Ask Yourself: <ul><li>How Can You Become More Entrepreneurial? </li></ul>
  5. 5. TYPES OF ENTREPRENEURS <ul><li>Self-Employed </li></ul><ul><li>Team Builders </li></ul><ul><li>Inventors </li></ul><ul><li>Pattern Multipliers </li></ul><ul><li>Economy of Scale Operators </li></ul><ul><li>Acquirers </li></ul><ul><li>Speculators </li></ul><ul><li>Internal Entrepreneurs </li></ul>
  6. 6. CREATIVITY <ul><li>A way of thinking about everything </li></ul><ul><li>Openness to change </li></ul><ul><li>Willing to try new things </li></ul><ul><li>Persistence in seeking possibilities </li></ul><ul><li>Open to brainstorming ideas </li></ul><ul><li>Dedication to doing it better </li></ul><ul><li>Thinking about what you see and hear </li></ul><ul><li>DO YOU BEHAVE IN A CREATIVE WAY? </li></ul>
  7. 7. PACE (Entrepreneurship Curriculum) <ul><li>1. Your Potential As An Entrepreneur </li></ul><ul><li>2. Nature of Small Business </li></ul><ul><li>3. Business Opportunities* </li></ul><ul><li>4. Global Markets* </li></ul><ul><li>5. The Business Plan </li></ul><ul><li>6. Help for the Entrepreneur </li></ul><ul><li>7. Types of Ownership </li></ul><ul><li>8. Marketing Analysis </li></ul><ul><li>9. Location </li></ul><ul><li>10. Pricing Strategy* </li></ul><ul><li>11. Financing the Business </li></ul><ul><li>12. Legal Issues </li></ul><ul><li>13. Business Management </li></ul><ul><li>14. Human Resources </li></ul><ul><li>15. Promotion </li></ul><ul><li>16. Selling </li></ul><ul><li>17. Record Keeping </li></ul><ul><li>18. Financial Analysis </li></ul><ul><li>19. Customer Credit </li></ul><ul><li>20. Risk Management </li></ul><ul><li>21. Operations* </li></ul>
  8. 8. Owning A Business: RISK or OPPORTUNITY? <ul><li>Only 1 in 7 of those businesses that &quot;disappear&quot; actually &quot;fail&quot; </li></ul><ul><li>Of those who actually failed, </li></ul><ul><li>53% became owners of another business </li></ul><ul><li>73.2% said they plan to start a business in the future </li></ul>
  9. 9. WHAT ARE SOME OF THE REASONS BUSINESSES DISAPPEAR? <ul><li>Sold the idea to another person or company </li></ul><ul><li>Retired and closed the doors </li></ul><ul><li>Found a better idea for a business </li></ul><ul><li>Invented a different type of product </li></ul><ul><li>Moved the business to another state or country </li></ul><ul><li>Preferred to work for someone else instead </li></ul><ul><li>Actually failed/went bankrupt </li></ul><ul><li>The market for this type of business disappeared or became too competitive </li></ul><ul><li>Owner died or became disabled </li></ul>
  10. 10. <ul><li>Remember......NOT ALL CHANGE MEANS FAILURE IF YOU MISS AN OPPORTUNITY... . . . IT MIGHT EVEN BE A BIGGER FAILURE </li></ul>
  11. 11. ENTREPRENEURS BEHAVE DIFFERENTLY BECAUSE THEY ... <ul><li>Risk their own money </li></ul><ul><li>Must find customers to survive </li></ul><ul><li>Organize their own work </li></ul><ul><li>Are vulnerable to economic change </li></ul><ul><li>Have income that varies with market success </li></ul><ul><li>Make all the final decisions </li></ul><ul><li>Need a wide range of management skills </li></ul><ul><li>Handle diverse activities at the same time </li></ul><ul><li>Depend on their own ability to market and sell </li></ul><ul><li>Work longer hours...at least at first </li></ul><ul><li>Are open to change as a necessity of existence </li></ul>
  12. 12. KEY INGREDIENTS FOR ENTREPRENEURSHIP <ul><li>* PERSONAL CHARACTERISTICS </li></ul><ul><li>* TECHNICAL KNOW-HOW </li></ul><ul><li>* MARKETABLE IDEA </li></ul><ul><li>* CONTACTS FOR ASSISTANCE </li></ul><ul><li>* FINANCIAL RESOURCES </li></ul><ul><li>* POTENTIAL CUSTOMERS </li></ul><ul><li>* SUPPORTIVE LIFESTYLE </li></ul><ul><li>* LEADERSHIP EXPERIENCE </li></ul><ul><li>* PERSONAL MOTIVATION </li></ul>
  13. 13. APTITUDES ARE OPPORTUNITIES <ul><li>What Are Your Strengths? </li></ul><ul><ul><li>Verbal or non-verbal communications </li></ul></ul><ul><ul><li>Verbal comprehension </li></ul></ul><ul><ul><li>Logical thinking </li></ul></ul><ul><ul><li>Artistic activities </li></ul></ul><ul><ul><li>Mechanical thinking </li></ul></ul><ul><ul><li>Numerical activities </li></ul></ul><ul><ul><li>Clerical </li></ul></ul><ul><ul><li>Spatial </li></ul></ul><ul><ul><li>Physical </li></ul></ul><ul><ul><li>Organizational </li></ul></ul><ul><ul><li>Intellectual </li></ul></ul><ul><li>How will your strengths help you find a business idea? </li></ul>
  14. 14. HOPE. . . Helping Other People thru Enterprise <ul><li>Services to other businesses </li></ul><ul><li>Entertainment </li></ul><ul><li>Marketing the products of others </li></ul><ul><li>Repair services </li></ul><ul><li>New inventions </li></ul><ul><li>Products representing the culture </li></ul><ul><li>Value added to raw materials </li></ul><ul><li>New technologies </li></ul><ul><li>Buying out a business </li></ul>
  15. 15. The Business Plan <ul><li>Part I . . . Description of the Business </li></ul><ul><li>Products/Services </li></ul><ul><li>Unique Competitive Advantages </li></ul><ul><li>Growth Opportunities </li></ul><ul><li>Goals and Objectives </li></ul><ul><li>Part II . . . Marketing Plan </li></ul><ul><li>Target Market/Current size and potentials </li></ul><ul><li>Industry characteristics and trends </li></ul><ul><li>Competitors </li></ul><ul><li>Marketing strategies </li></ul>
  16. 16. The Business Plan <ul><li>Part III . . . Production/Operations Plan </li></ul><ul><li>Suppliers </li></ul><ul><li>Regulations/licenses </li></ul><ul><li>Layout </li></ul><ul><li>Inventory controls </li></ul><ul><li>Equipment </li></ul><ul><li>Part IV . . . Management Plan </li></ul><ul><li>Legal Issues </li></ul><ul><li>Support Systems </li></ul><ul><li>Organizational Systems </li></ul><ul><li>Employee Management </li></ul>
  17. 17. The Business Plan <ul><li>Part V . . . Financial Plan </li></ul><ul><li>Estimated Income </li></ul><ul><li>Estimated Costs </li></ul><ul><li>Cash Flow Planning </li></ul><ul><li>Personal Financial Needs </li></ul><ul><li>Financing Options </li></ul>
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