An entrepreneur is someone who starts and operates a business by taking on financial risks. A business plan is a blueprint for a business that includes information about the business, industry, products/services, customers, competitors, and finances. Business plans allow entrepreneurs to break down the overwhelming process of starting a business and set goals and objectives while also attracting investors, financing, employees, and customers. Characteristics of a good business plan include being neat, organized, professional, well-written, and highlighting important business aspects. Factors to consider before selecting a business include personal interests, abilities, available resources, profit potential, and pleasure.

1. Introduction to Entrepreneurship MRS. LOGAN

2. WHAT IS AN ENTREPRENEUR? An entrepreneur is an amazing person who organizes, operates, and assumes the risk for a business venture. To start a new business entrepreneurs need a business plan, which we will discuss next.

3. What is a Business Plan and Why Have One? A business plan is a series of documents that serves as a blueprint for starting a business. A business plan includes information about the business the industry in which it competes its products and/or services its customers its competitor, and its finances

4. What is a Business Plan and Why Have One?, cont’d. Business plans allow owner to break down the process because it can be an overwhelming task. Business plans indicate current status of the business vision; future goals, and objectives a plan to achieve the vision

5. What is a Business Plan and Why Have One?, cont’d. The primary functions of a business plan are set goals and objectives attract potential investors acquire financing attract quality emloyees attract potential new customers

7. Characteristics of a Good Business Plan Neat Organized Professional Well-written and well-designed Highlight important aspects of the business

8. Major Factors to Consider Before Selecting Your Business What are your interests? What are your abilities? Do you have the start up money and necessary resources? Profit potential Pleasure Availability

9. Possible Teen Businesses

10. Teen Entrepreneurs

11. Class Assignment Read pp. 25-27 Complete “ Choosing Your Teen – Based Business”