The document provides an overview of entrepreneurship and small businesses. It defines an entrepreneur as someone who creates a new business by taking on risk and uncertainty. Successful entrepreneurs have characteristics like energy, flexibility, and risk tolerance. The benefits of entrepreneurship include being your own boss, financial success, and quality of life. Small businesses make major contributions to the economy by employing over half of the private workforce and creating most new jobs. The document discusses skills, goals, and characteristics important for entrepreneurs, as well as common mistakes and how to avoid failures.

1. 1st Chapter
Entrepreneurship Development
By
Venkatesh.N
Koshys Institute of Management Studies

2. What is an Entrepreneur?
An Entrepreneur…
… takes on the risk of
starting their own
enterprise or investing in
other start-ups.

3. Successful entrepreneurs are
known for…
… Finding innovation and
market gaps for new products
and services.
What is an Entrepreneur?

4. The World of the Entrepreneur
• A study by the Global Entrepreneurship Monitor (GEM) found
11.3 percent of the adult population in the United States is
working to start a business. North America, South America
and Latin America lead the world in entrepreneurial activity.
What is an Entrepreneur
An entrepreneur is one who creates a new business in the face
of risk and uncertainty for achieving profit and growth
opportunities and assembles the necessary resources to
capitalize on those opportunities

5. Entrepreneurial Profile
• High level of energy
• Flexibility
• Desire for responsibility
• Future orientation
• Tolerance for uncertainty
• Preference for moderate risk
• Skill at organizing
• Confidence in their ability to succeed
• Value of achievement over money
• Desire for immediate feedback
• High degree of commitment

6. Women Entrepreneur

7. Women Entrepreneur

8. Introduction
The educated women do not want to limit their lives in the four walls of
the house. They demand equal respect from their partners. However,
Indian women have to go a long way to achieve equal rights and
position because traditions are deep rooted in Indian society where the
sociological set up has been a male dominated one.
• Women are considered as weaker sex and always made to depend on
men folk in their family and outside, throughout their life. The Indian
culture made them only subordinates and executors of the decisions
made by other male members, in the basic family structure.

9. Concept of women entrepreneur
While at least half the brainpower on earth belongs to women,
women remain perhaps the world„s most underutilized
resource. Despite all the social hurdles, India is brimming with
the success stories of women.
• Women Entrepreneurs may be defined as the women or a
group of women who initiate, organize and operate a business
enterprise.
• Women entrepreneurs engaged in business due to push and
pull factors which encourage women to have an independent
occupation and stands on their on legs.
• The Government of India has defined women entrepreneurs as
―an enterprise owned and controlled by women having a
minimum financial interest of 51 per cent of the capital and
giving at least 51 per cent of the employment generated in the
enterprise to women‖.

13. Intrapreneurship
• Intrapreneurship is the act of behaving like
an entrepreneur while working within a large organization.
• An inside entrepreneur, or an entrepreneur within a large firm,
who uses entrepreneurial skills without incurring the risks
associated with those activities.
• Intrapreneurs are usually employees within a company who
are assigned a special idea or project, and are instructed to
develop the project like an entrepreneur would.

14. • Being your Own Boss
– Self-management is the motivation that drives many
entrepreneurs.
• Financial Success
– Entrepreneurs are wealth (capital) creators.
• Job Security
– Over the past ten years, large companies have eliminated
more jobs than they have created.
• Quality of Life
– Starting a business gives the founder some choice over
when, where, and how to work.
Why Entrepreneurship?

15. Entrepreneurs as possessing these (characters)
• Desire for responsibility
• Preference for moderate risk (risk eliminators)
• Confidence in their ability to succeed
• Desire for immediate feedback
• High level of energy
• Future orientation (serial entrepreneurs)
• Skill in organization
• Value of achievement over money
• Other characteristics of entrepreneurs include:
High degree of commitment
Willingness to accept risk, work hard and take action
Flexibility

16. Characteristics of Entrepreneurs

17. Entrepreneurial Characteristics
• Vision - entrepreneurs begin with an overall idea for how to make
their business idea a success
• High Energy Level - a willingness to work hard
• Need to Achieve - entrepreneurs work hard because they want to
shine
• Self-Confidence - fearlessness in the face of difficult chances
• Tolerance for Failure - entrepreneurs are not easily discouraged
• Creativity - entrepreneurs devise innovative ways to overcome
difficult problems and situations
• Internal Locus of Control - entrepreneurs believe they can control
their own luck

18. The Benefits of Entrepreneurship
The primary benefits entrepreneurs enjoy include the opportunity
to:
• Create their own destiny
• Make a difference
• Reach their full potential
• Generate impressive profits
• Contribute to society and be recognized for their efforts
• Do what they enjoy and have fun at it!

19. Behind the Boom: What’s Feeding the
Entrepreneurial Fire?
• The rapid increase in entrepreneurs has been a result of:-
• Considering entrepreneurs as heroes
• Entrepreneurial education
• Demographic and economic factors
• move to a service economy
• Technological advancements
• Independent lifestyles
• business and the Internet
• Additional international opportunities

20. The Ten Deadly Mistakes of Entrepreneurship
• Studies have indicated that there are common reasons for new business
ventures to fail. These causes of small business failure may include.
• Management mistakes
• Lack of experience
• Poor financial control
• Weak marketing efforts
• Failure to develop a strategic plan
• Uncontrolled growth
• Poor location
• Improper supply control
• Incorrect pricing
• Inability to make the “entrepreneurial transition”

21. Putting Failure into Perspective
• Entrepreneurs don‟t fail—the venture fails.
• There are no such things as failures, only results.
• Always look to turn a negative situation into a positive
opportunity.
• Have no fear of failure and be sure to have a emergency plan.
• The only people who never fail are those who never do anything
or never attempt anything new.
• The successful entrepreneur understands the meaning of these
problems and knows how to deal with danger in a proactive and
positive

22. How to Avoid the Pitfalls
These same studies have indicated that entrepreneurs can
increase their changes for success if they.
1. Know their business in depth.
2. Develop a solid business plan in writing.
3. Manage financial resources.
4. Understand financial statements.
5. Learn to manage people effectively.
6. Keep in tune with who they are.

23. . What are the major benefits of business
ownership
Major benefits of business ownership include the:
• Opportunity to gain control over your own destiny
• Opportunity to make a difference
• Opportunity to reach your full potential
• Opportunity to pick unlimited profits
• Opportunity to contribute to society and be recognized for
your efforts
• Opportunity to do what you enjoy

24. What is a small business? What contributions do
they make to our economy?
A small business is “One which is independently owned and
operated and not dominant in its field of operation.”
Small business economic contributions include:
• Employing of more than 50% of the nation‟s private sector
workforce —
• almost 90% of all businesses employ less than 20 workers.
• Creating 66% of all new jobs since the early 1970s.
• Producing 48% of the nation‟s GDP and account for 53% of all
sales.
• Growing by 800,000 to 900,000 new ventures each year.

25. Entrepreneurial Characteristics
The following are typical character and behavior entrepreneurs
need to run and operate a successful business:
• constant
• Creative
• Responsible
• questioning
• Goal-Oriented
• Independent
• Self-Demanding
• Self-Confident
• Risk-Taking
• Restless
• Action-Oriented
• Enthusiastic

26. Entrepreneurial Skills
The following are foundational skills entrepreneurs need to run
and operate a successful business:
• Communication Skills
– Writing, Speaking & Listening
• Human Relations Skills
• Managing skills
• Problem Solving & Decision Making Skills
• Technical Skills
• Basic Business Skills

27. Personal Goals and Capabilities
In order to be a successful entrepreneur you must have an
interest in being an entrepreneur and have a strong
commitment to a business and a lot of energy.
 Make your goals practical and easily achievable.
 Financial goals should specify how much money you will
earn and how quickly you will pay off debts.
 Non-financial goals could be to own your own business or
personal satisfaction.

28. Do You Have the Potential to be a Successful
Entrepreneur?
Everyone has the potential to become an entrepreneur. But, if you
do not feel you have the potential, and you have the desire, you
can strengthen your characteristics and skills if you:
• Read articles and books about entrepreneurs
• Write about individuals who overcame obstacles to achieve
success
• Watch films about business people, athletes, or others who are
achievement-oriented
• Practice case studies that involve goal-oriented behavior,
creativity, and moderate risk-taking

29. Assess ROI objectives
Return on Investment (ROI)
Investment: What it costs to make and market a product
Identify the percentage return you want from the investment
The profitable objective involves pricing products to obtain a
certain % return on investment
Your goal might be 20% ROI

30. Capital
Capital:
The buildings, equipment, tools, and other goods needed to
produce a product, or the money used to purchase these
items.
 Businesses can have cash flow problems if they start off
with too little capital
 If your cash flow is insufficient, you may want to obtain
more capital for your business

31. Thank you
All