The document discusses entrepreneurship and becoming a nurse entrepreneur. It defines entrepreneurship as identifying opportunities to create new products or services that satisfy needs and command a profit. A nurse entrepreneur combines healthcare knowledge with business skills to start ventures in areas like technology, services, or devices. Key requirements for becoming a nurse entrepreneur include obtaining nursing education and experience, certification, and developing business skills like leadership, innovation, marketing and finances.

1. ENTREPRENEURSHIP
Under supervision:
Dr/ hend abdallah
Presented by:
Asmaa mohmed Soliman

2. General objective
At the end of this lecture each student will be able to
understand entrepreneurship.

3. Specific objectives
At the end of this lecture each student will be able to:
1. Define entrepreneurship.
2. Discuss nurse entrepreneur.
3. Mention Characteristics of entrepreneurship.
4. List benefits of being entrepreneur.
5. Discuss the role of a nurse entrepreneur.
6. Explain how to become a nurse entrepreneur.
7. List business skills of a nurse entrepreneur.

4. Introduction
The entrepreneur is considered someone who has the ability and desire
to establish, administer and succeed in a startup venture along with risk
entitled to it, to make profits. The best example of entrepreneurship is
the starting of a new business venture. The entrepreneurs are often
known as a source of new ideas or innovators, and bring new ideas in
the market by replacing old with a new invention.

5. Entrepreneurship
Entrepreneurship is the process of innovation and/or opportunity
identification to create new and unique values in the form of products
(goods and/or services) that can satisfy human needs and, thus, can
command profit in exchange.
” This process of converting an innovation and/or an identified opportunity
into a new and unique product for exchange transaction requires
personal time, effort, and economic resources (in addition to an idea
of unique benefit) assuming the accompanying economic, social, and
psychological risks.

6. Nurse entrepreneur
Nurse entrepreneurs combine healthcare knowledge and business
sensibilities to develop successful business ventures that center around
optimal care delivery. Nurse entrepreneurs can focus their business on
any of numerous health-related categories, such as information
technology and patient data storage, healthcare services, or medical
devices.

7. Characteristics of entrepreneurship
1. Ability to take a risk.
2. Innovation.
3. Visionary and Leadership quality.
4. Open-Minded.
5. Flexible.
6. Know your Product/service.

8. Ability to take a risk
Starting any new venture involves a considerable amount of
failure risk. Therefore, an entrepreneur needs to be courageous
and able to evaluate and take risks, which is an essential part of
being an entrepreneur.

9. Innovation
It should be highly innovative to generate new ideas, start a company
and earn profits out of it. Change can be the launching of a new product
that is new to the market or a process that does the same thing but in a
more efficient and economical way.

10. Visionary and Leadership quality
To be successful, the entrepreneur should have a clear vision of his new
venture. However, to turn the idea into reality, a lot of resources and
employees are required. Here, leadership quality is paramount because
leaders impart and guide their employees towards the right path of
success.

11. Open-Minded
In a business, every circumstance can be an opportunity and used for the
benefit of a company. For example, Paytm recognized the gravity of
demonetization and acknowledged the need for online transactions
would be more, so it utilized the situation and expanded massively
during this time.

12. Flexible
An entrepreneur should be flexible and open to change according to the
situation. To be on the top, a businessperson should be equipped to
embrace change in a product and service, as and when needed.

13. Know your Product/service
A company owner should know the product offerings and also be aware
of the latest trend in the market. It is essential to know if the available
product or service meets the demands of the current market, or
whether it is time to tweak it a little. Being able to be accountable and
then alter as needed is a vital part of entrepreneurship.

15. Benefits of being entrepreneur
1. Time Freedom.
2. Complete creative freedom.
3. Freedom of Thought.
4. Personal development that is immeasurable.
5. Existential satisfaction.
6. More Flexibility.
7. Hard-working and problem solving skill.

16. The role of a nurse entrepreneur
1. Use nursing education and experience to establish their own business
venture within the healthcare field.
2. Promote the business including advertising and sales efforts to attract
and retain customer.
3. Hire and manage employees to assist in running the business as needed.
4. Tend to the financial side of running a business, including accounting,
payroll, and tax issues.
5. Provide healthcare products or nursing services which may include
direct patient care, education, or consulting services depending on the
nature of the business.

17. How to become a nurse entrepreneur?
Becoming a nurse entrepreneur can give a nursing professional a significant measure of
freedom to build their healthcare career on their own terms. However, this freedom is
carefully shaped and earned by a specific step-by-step process.
Education
Like other professions in the nursing field, the first step to becoming a nurse entrepreneur is
to earn a degree. Typically, an advanced degree is not a requirement; however, earning an
advanced degree such as a Doctor of Nursing Practice can help build an individual’s career.
Certification
Once an individual earns a degree, they would then need to gain certification. The
certification commonly associated with nurse entrepreneurship is obtained through the
National Council Licensure Exam for registered nurses (NCLEX-RN), which is a test
administered by the National Council of State Boards of Nursing that is designed to confirm
proficiency in metrics like safety, psychosocial integrity, and health maintenance.

18. Cont.…..
Experience
After obtaining licensure, nurse entrepreneurs need to gain experience in
the nursing field. This not only allows nurses to build a record of
demonstrable knowledge and skills in a real-world environment but also
enables them to identify their strengths and weaknesses. This can allow
a nurse to improve and optimize their approach to healthcare delivery
before they strike out on their own health-related venture.

19. Business skills of a nurse entrepreneur
1. Leadership.
2. Innovation.
3. Business development.
4. Organization/ management.
5. Marketing.
6. Business vision and strategy.
7. Collaboration and project management.
8. Financial/ Accounting.

20. Reference
 https://www.researchgate.net/publication/348634092_Definition_Meaning_and_
Necessary_Characteristics_of_Entrepreneurship
 https://online.maryville.edu/blog/importance-of-entrepreneurship
 https://byjus.com/commerce/what-is-entrepreneurship/