2 read to learn what entrepreneur means and the traits that most successful entrepreneurs share what...

2

Read to Learn

What entrepreneur means and the traits that most successful entrepreneurs share

What the advantages and disadvantages of entrepreneurship are

3

Main Idea

Gaining knowledge about entrepreneurship and its advantages and disadvantages will help you decide if this is a good career option for you.

4

Key Concept

What Is an Entrepreneur?

5

Key Term

entrepreneur

6

What Is an Entrepreneur?

Small businesses represent more than 99 percent of American businesses.

Small businesses employ more than 50 percent of the nonmilitary workforce.

7

What Is an Entrepreneur?

The risks of being an entrepreneur are high, but the rewards can be great.

entrepreneur

a person who organizes and then runs a business

8

Advantages of Entrepreneurship

Advantages of Entrepreneurship

You are in charge. You decide when and how hard to work and how the business will operate.

There is great job satisfaction.

Entrepreneurship can lead to a good income.

9

Advantages of Entrepreneurship

Disadvantages of Entrepreneurship

There is financial risk.

Entrepreneurs often work long hours.

Competition can be difficult to overcome.

There are no guarantees of success. Almost half of new businesses fail within the first four years.

10

Traits of Entrepreneurs

Motivation

Sight andForesight

DecisionMaking

Entrepreneurs stay motivated by setting long- and short-term goals.

Entrepreneurs look at problems andsee opportunities.

Entrepreneurs make decisions every day and the decisions must be good ones.

11

When the game is finished, close the Quick Quiz window andclick here for the next slide >>

12

Section 4.1 After You Read

1. Name one trait common to most entrepreneurs. Explain why you think that trait helps people begin and run successful businesses.

Traits common to entrepreneurs include motivation, sight, foresight, and the ability to make effective decisions. Explanations should reflect an understanding of the common traits.

13

Section 4.1 After You Read

2. Choose one disadvantage of entrepreneurship. Explain how you might overcome that disadvantage if you ran your own business.

Disadvantages might include competition, long hours, financial risk, and no guarantee of success.

14

Section 4.1 After You Read

3. Does entrepreneurship appeal to you? Explain why or why not.

Possible answer: Entrepreneurship appeals to me because the idea of creating a business from your own ideas, talents or goals would be really satisfying.

End of