EntrepreneursEntrepreneurs

Characteristics and Characteristics and Contributions 2Contributions 2

Guest SpeakerGuest Speaker

What were some of your thoughts What were some of your thoughts about the guest speaker?about the guest speaker?

What did you take away from the What did you take away from the presentation?presentation?

InnovationInnovation

Apple - 2009Apple - 2009

SuccessSuccess The more supportive the family, The more supportive the family,

society, and the political structure, society, and the political structure, the greater the likelihood that the the greater the likelihood that the venture will flourish venture will flourish

The higher the level of formal The higher the level of formal education and the stronger the moral education and the stronger the moral attitudes and values, the greater the attitudes and values, the greater the likelihood of successlikelihood of success

The less competitionThe less competition the better the the better the chances of successchances of success

Young vs. AdultYoung vs. Adult

What types of challenges do What types of challenges do young entrepreneurs face that young entrepreneurs face that are different from adult are different from adult entrepreneurs?entrepreneurs?

Work with a partner and come up Work with a partner and come up with a list of challenges that may with a list of challenges that may face young entrepreneursface young entrepreneurs

Young vs. AdultYoung vs. Adult Little or no business experienceLittle or no business experience Little life experienceLittle life experience May have less educationMay have less education Little or no capitalLittle or no capital May face discrimination due to ageMay face discrimination due to age May lack maturity to operate a May lack maturity to operate a

businessbusiness May lack business contactsMay lack business contacts Self confidenceSelf confidence Peer pressurePeer pressure

The Importance of Self-The Importance of Self-ConfidenceConfidence

Self-confidence is essential to the Self-confidence is essential to the development of self-control, or inner-development of self-control, or inner-control. Those who lack self-confidence control. Those who lack self-confidence often avoid exercising inner control, often avoid exercising inner control, which means, while they avoid failure, which means, while they avoid failure, they are also avoiding successthey are also avoiding success

It is very difficult for other people to trust It is very difficult for other people to trust and have confidence in someone when and have confidence in someone when that same person does not have that same person does not have confidence in themselves. confidence in themselves.

How Do You Gain Self-How Do You Gain Self-Confidence?Confidence?

By having successesBy having successes By being good at somethingBy being good at something By doing what you love to doBy doing what you love to do Read books about successful peopleRead books about successful people Challenge yourselfChallenge yourself Tackle your fears (on the other side of Tackle your fears (on the other side of

your fears is your greatest growth)your fears is your greatest growth) Be positive Be positive Have initiativeHave initiative Establish goalsEstablish goals

Benefits of Being YoungBenefits of Being Young

What are some of the benefits of What are some of the benefits of being a young entrepreneur?being a young entrepreneur?

More energy/Hard workingMore energy/Hard working Will not take “no” for an answerWill not take “no” for an answer ResourcefulResourceful Creative/Full of ideasCreative/Full of ideas Aware of popular culture and Aware of popular culture and

changing trendschanging trends

Local EntrepreneursLocal Entrepreneurs

Can you think of some local Can you think of some local entrepreneurs in the Burlington entrepreneurs in the Burlington area?area?

Make a list with a partnerMake a list with a partner Try to think of true Try to think of true

entrepreneurs and not franchisesentrepreneurs and not franchises

Local EntrepreneursLocal Entrepreneurs

The Sultan RestaurantThe Sultan Restaurant Expert Hose and Coupling Inc.Expert Hose and Coupling Inc. Pur NutritionPur Nutrition Smart ComputersSmart Computers The Learning TreeThe Learning Tree Trains on BrantTrains on Brant Pepperwood BistroPepperwood Bistro

Effects of Local Effects of Local EntrepreneursEntrepreneurs

What effects do local entrepreneurs What effects do local entrepreneurs have on the community?have on the community?

Job creationJob creation Community leadershipCommunity leadership Funding scholarshipsFunding scholarships Co-operative education placementsCo-operative education placements Help the local economyHelp the local economy Change the image of the communityChange the image of the community

Agents of ChangeAgents of Change

What is an agent of change?What is an agent of change?

An agent of change is someone An agent of change is someone who intentionally or who intentionally or unintentionally causes social, unintentionally causes social, cultural, or behavioural changecultural, or behavioural change

Agents of ChangeAgents of Change How are entrepreneurs agents of How are entrepreneurs agents of

change?change? Develop new products and servicesDevelop new products and services Begin new ways of productionBegin new ways of production Create new ways of doing businessCreate new ways of doing business Develop new ways of marketing Develop new ways of marketing

products and servicesproducts and services Modifying existing products or Modifying existing products or

servicesservices Create fads and develop trendsCreate fads and develop trends

HomeworkHomework

Java Log Case StudyJava Log Case Study