Entrepreneurship (1)


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Entrepreneurship (1)

  1. 1. Dreams Come True If You Allow Them ToBy: Leanna KirchEntrepreneurship
  2. 2. What Is an Entrepreneur?● An Entrepreneur is a creative and innovativeindividual who implements ideas to start abusiness.■ Create a job for themselves andpotentially for others.■ They ultimately take on a great amountof financial risk.● Not all entrepreneurs start a business toachieve a higher profit, most are trying toexpand on their ideas.
  3. 3. Who Becomes An Entrepreneur?● Entrepreneurs○ did better in highschool than they did incollege.○ come from middleclass or upper-lowerclass families○ have high self- esteemand close peerconnections● Entrepreneurial valuesusually begin to appearduring youth.
  4. 4. Leadership Skills● Entrepreneurs are natural bornleaders.● More than half of all entrepreneurswere not satisfied while workingunder someone else.● A majority of entrepreneurs werethe first in their families to launch abusiness.Leadership Skills are shaped by:○ Negative and positive familyinfluences○ Previous life experiences○ Past occupations○ Childhood
  5. 5. Creativity and Critical Thinking● Entrepreneurs are themost creative individualsin society.● Entrepreneurs have theability to invent, combineconcepts and composenovel ideas.● New discoveries areuncovered by theentrepreneurial mind.● The generation of newideas is a critical part ofentrepreneurship
  6. 6. The Risk of Entrepreneurship● Entrepreneurs are not afraid to take risks ordeal with change○ have elevated initiative○ determined to go through with their ideas○ willing to endure any consequences● There’s a chance of failure, especially if themanaging individual cannot focus on onlyone thing at a time.● Approaches toward the project are shapedby existing constraints○ Pressures cause an individual to go about things in adifferent way
  7. 7. Useful Ideas● The lifeblood ofentrepreneurship isnovel and beneficialideas○ Ideas must be rationaland well-thoughtthrough○ Original ideas havethe potential ofgenerating revenue○ Ideas must appeal toa particular market
  8. 8. The Skills Possessed● Tenacity/ stubbornness● Motivation● Courage● Determination● Self-Discipline● Creative● Confidence● Open minded● Competitive● Outgoing● Passion
  9. 9. Why Starting a Business CouldBenefit you● Entrepreneurial success isthe greatest way to achievepersonal growth, as well aspossible fortune andindependence.○ The benefits in the long runare endless; it’s just a matterof formulating ideas andacting upon them.○ Occupational independence○ Ability to improvise onthoughts and ideas
  11. 11. Now You Get to Make MarshmallowTowers...● You will be provided with:○ 20 sticks of spaghetti○ 10 toothpicks○ 2 ft. of string○ 3-4 in. of duct tape○ 4 large marshmallows○ 5 small marshmallows○ 1 green marshmallow● I will put you into groups of 3 or 4● Your group will be given 7 minutes to build the tallest towerpossible with the materials provided.○ It is recommended that your group take a few minutes tobrainstorm, but it is not required○ The green marshmallow must be at the top of your tower○ After the 7 minutes is up, the group with the tallest towerwins!ALL of you will get marshmallows to eat after the activity, soplease refrain from eating the ones Ive provided
  12. 12. Works CitedBurns, Paul. Entrepreneurship and Small Business. Palgrave Macmillan Limited, 2001. Print.Peredo, Ana Maria and Chrisman, James J., Toward a Theory of Community-Based Enterprise (August10, 2004). Academy of Management Review, Vol. 31, No. 2, pp. 309-328, 2004. Available at SSRN:http://ssrn.com/abstract=1190122Sambrook, Sally, Henley, Andrew, Jones, Karen and Norbury, Heather, A Biographical Approach toResearching Leadership and Entrepreneurship Development Processes in a Small BusinessContext (October 1, 2011). Bangor Business School Research Paper No. 11/004. Available atSSRN: http://ssrn.com/abstract=1952667 or http://dx.doi.org/10.2139/ssrn.1952667Wadhwa, Vivek, Holly, Krisztina, Aggarwal, Raj and Salkever, Alex, Anatomy of an Entrepreneur:Family Background and Motivation (July 7, 2009). Kauffman Foundation Small Research ProjectsResearch. Available at SSRN: http://ssrn.com/abstract=1431263 or http://dx.doi.org/10.2139/ssrn.1431263Ward, Thomas B. "Cognition, Creativity, and Entrepreneurship." Journal of Business Venturing (2003):1-16. Elsevier Science Inc., 2003. Web. 25 Mar. 2013.