opportunities and take initiative to that notice opportunities
mobilize resources, however they and take the initiative to work in large companies and mobilize resources to make contribute to the innovation of new goods and service. the firm. Original thinkers Often become entrepreneurs Intrapreneur Entrepreneur Risk takers People who own a major equity stake in a company with fewer than Capable and Competent 500 employees. WHO ARE Set high goals In 1997, there were 22.56 million small business in the United States. ENTREPRENEURS? Take responsibility 47% of people are employed by a Small business owners (Common traits) small business. Firstborns
Business plan – a step-by-step ENTREPRENEURSHIP Self-employed parents
Planning
outline of how an entrepreneur or
the owner of an enterprise expects Well educated to turn ideas into reality. SUCESSFUL AND Enjoy working toward 1. Lifestyle Venture them UNSUCCESSFUL Small company that provides its owner independence, autonomy Planning & motivation ENTREPRENEURS Motivation
and control. Successful Unsuccessful
2. Smaller Profit Venture Entrepreneur Entrepreneur s Small company no concentrated on Deciding what your motivations pushing the envelope; growing are will direct you toward what • Creative and Innovative • Poor Managers type of business fits you. • inordinately large. Position themselves in • Low work ethic shifting or new markets • Inefficient 3. High Growth Venture • Create new products • Failure to plan and • Goal is maximum profit and growth • Create new processes prepare • Concentrated on pushing envelope and growing as large as possible. • Create new delivery • Poor money manager • Focus on innovation