chapter 1 presentation 3
TRANSCRIPT
Chapter 1Section 1.2 – Characteristics of Successful Entrepreneurs
Who are Entrepreneurs?
• 64% of all business owners had some college education.
• More than 60% of business owners used money of their own, or from families to start their business.
• Slightly more than 50% of the business owners who had employees worked overtime.
Who are Entrepreneurs?
• Business Statistics on Business Owners:
• 1/3 are over 55 years old • 29% were between 45-54• 24% were between 35-44• 12% were between 25-34• 2% were under 25
Who are Entrepreneurs
• Business Statistics of Business Owners:
• Minority Business Owners• Increased from 7% in 1982 to 18% in 2002
• Women Business Owners• Increased from 1.76 million in 1976 to 3.75 in 2000.
Characteristics
• Self Assessment – the art of evaluating your strengths and weaknesses. Helps you maximize your strengths and improve upon your
weaknesses.
• Aptitudes and Attitudes: Aptitude – is your natural ability to do a particular type of work or
activity well. Attitude – is a way of thinking about something that affects how you
feel about it.
• Even though you do not get the opportunity to select your aptitude, you can influence your attitude.
Personal Characteristics
• Courage willingness to take risks in spite of possible losses.
• Creativity inventing new ways of doing things; thinking outside of the box.
• Curiosity the desire to learn and ask questions.
• Determination refusing to quit in spite of obstacles.
Personal Characteristics
• Discipline the ability to stay focused and follow a schedule to meet
deadlines.
• Empathy Being sensitive to the thoughts and feelings of others.
• Enthusiasm being passionate about something; the ability to see
problems and opportunities.
Personal Characteristics
• Flexibility the ability to adapt to new situations.
• Honesty a commitment to being truthful and sincere with others.
• Patience Recognizing that most goals are not reached overnight.
• Responsibility being accountable for your decisions and actions; not passing the
buck.
Skills
• Skill• is an ability that’s learned through training and practice.
• Skills of Successful Entrepreneurs:
• Business Skills • understanding how to create and manage a business.
Skills of Successful Entrepreneurs
• Communication Skills the ability to listen well, write well, and speak well.
• Computer Skills the ability to use technology tools effectively.
• Decision Making Skills & Problem Solving Skills • Knowing how to apply logic, information, and past experiences
to new decisions and problems.
Skills of Successful Entrepreneurs
• Mathematical Skills using math to create budgets, keep accurate rate records, and
financial statements.
• Organizational Skills the knack of keeping tasks and information in order; the ability to
plan well and manage your time.
• People Skills the ability to persuade and motivate people; knowing how to be a
leader and work with a team.
Increasing Your Potential
• Business Knowledge • Make a habit of reading newspapers, searching the internet,
watch films and television programs about successful business entrepreneurs.
• Financial Skills • Strengthen your math skills by taking such courses as
accounting, personal finance and investing.
Increasing Your Potential
• Career Exploration Evaluate your strengths and weaknesses. Explore careers that interest you and match your aptitude
and attitude. Put together a career portfolio that summarizes your
achievements and lists your activities.
• Community Awareness Volunteer in your community Look for internships
Increasing Your Potential
• Education • Take advantages to learn new things. • Degrees, certifications, or diplomas all advance
opportunities.
• Relationships • Spend time with people who inspire you. • Mentors – provide free guidance, tutoring, and suggestions
for achieving your goals.
Why Study Entrepreneurship
• Owning a business is not for everyone, but the principles that you can obtain from entrepreneurship can factor positively in your life for the future.
• Think Like an Entrepreneur: • Observe• Listen• Think
Why Study Entrepreneurship
• Intrapreneurship • giving employees the opportunity to be creative and try out
new ideas, almost like being an entrepreneur within the company.
• Vision • a vision is a “picture” of what you want in the future to be.