This presentation is essential to those who wish to follow the entrepreneurial path

1. Entrepreneurship for
beginners
By
Angela Ihunweze(Mrs)
For
Angela Itambo
Invite her to speak at your events
(08033280453)

2. Topic
• What is entrepreneurship
• Difference between
entrepreneurship and small business
• What do you need to succeed in
entrepreneurship
• Stories of some successful
entrepreneurs
• Final word of wisdom

3. What is
entrepreneurship
• Entrepreneurship is the act which is a
French word meaning "one who undertakes
an endeavor".
• Entrepreneurs assemble resources
including innovations, finance and business
acumen in an effort to transform
innovations into economic goods. ..

4. Difference between entrepreneurship
and small business
Those who engage in entrepreneurship are called
entrepreneurs. An entrepreneur is an individual with the
following characteristics:-
• Who spots an opportunity in the marketplace
• Assembles the required resources to take advantage of
this opportunity, most times his or her own funds is used
as start up capital
• This opportunities may not be new to the market place,
however what makes it different is that these individuals
turns these ordinary opportunities into something
extraordinary!

5. Difference between entrepreneurship
and small business
part 2
• They are visionary and very observant and
current about what goes on in the society to
see where they can get their next big hit
• They are very patient and self motivated and
are driven by the passion to give life to their
business and see it succeed.
• They take careful calculated risks and this
means they don’t just throw money on any idea
that comes their way it must have a
substantial market need.

6. Difference between entrepreneurship
and small business
part 3
Most small businesses are set up as lifestyle businesses to provide
immediate income for their families and a job for the owner
manager, therefore the following are found:-
• There isn’t ingenuity in the choice of business idea, that is why
there are a lot of copy cats, because Mr. x is making money then it
means I can to
• This results to over saturation of a particular business and
invariably some fail, because of the law of demand and supply
• There is no desire to expand, although most entrepreneurial
ventures start small with limited funds and grow from that seed
• Owners don’t see any need to embark on any form of training or
empowerment to improve on their business skills, and this leads to
bad and unethical business practices.
• As a result of the fact that most of these businesses are created
out of trends and momentary business opportunities any slight
shaking in the market place can affect them adversely

7. Difference between entrepreneurship
and small business
part 4
• There is no desire to expand, although most
entrepreneurial ventures start small with limited
funds and grow from that seed
• Owners don’t see any need to embark on any form
of training or empowerment to improve on their
business skills, and this leads to bad and unethical
business practices.
• As a result of the fact that most of these
businesses are created out of trends and
momentary business opportunities any slight
shaking in the market place can affect them
adversely

8. What do you need to succeed
in entrepreneurship
Have the right attitude
• See it as a career
• Be positive
• Be ready for anything that may come
your way
• Don’t despise small beginning
• Be ready for smart and hard work

9. What do you need to succeed
in entrepreneurship Part 2
Have a plan on the present and the
future
• Your business should not be left
to chance
• Have a plan on everything, from
how much you will earn as salary,
how much you safe, your business
principle. In a nutshell plan your
business

10. What do you need to succeed
in entrepreneurship Part 3
Learn all you can about the technical aspect
and business aspect of your business.
• Your competing with the world
• The customer is king
• To excel you need to continuously improve
your technical and business skills
• It has nothing to do with educational
background

11. What do you need to succeed
in entrepreneurship Part 4
Comply with the government rules and
regulations.
• Know what is expected from you from the
local government and state government
especially payment of business permits and
tax
• To be recognised as transacting a business
will require you registering with the
Federal Government, the body responsible
for that is Corporate Affairs Commission.
You don’t need a lawyer, you can do it on
your own

12. Stories of some successful
entrepreneurs
• Ibukun Awosika. A chemistry graduate
with no prior training in carpentry,
however after serving in a furniture
showroom, decided to venture in that
business. she is the founder of The Chair
Centre, a market leader in the office
furniture and banking security systems
industry .

13. Final word of wisdom
1. Be ready for the unexpected
2. Be girdled with information, which means keep your nose to the
ground
3. Financial indiscipline is the easiest ways to ruin your career,
that is why we suggest creating a nest egg and inculcating strict
accounting practices, to check mate excesses
4. Be ready to seek help at all times
5. Time management is paramount in avoiding failure, that why it is
ideal to either have a mentor or a business advisory professional
on retainer ship
6. There is no substitute in the following;
• Professionalism
• Planning
• Diligence
• Networking
• Reverence for your maker Almighty God

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15. We write business plans