Introduction to Entrepreneurship

(Week 2)

I. Introduction
Have you ever dreamed of becoming the next multi-millionaire? If you are thinking that
winning the lottery is the only way to become one. Well, think again. It is not chancing that
give you millions, instead being a millionaire is a result of hard work and determination. Starting
your own business is a good start towards fulfilling your dreams. Entrepreneurship is the way! You
may often hear the word entrepreneur and entrepreneurship. But what does it really mean? You
may refer to an entrepreneur as the person managing the business and entrepreneurship as the
business venture. Some may say there is no difference.
After performing the activities in this worksheet, you are expected to:
1. Identify the differences between employees and entrepreneurs.

II. Discussion
Entrepreneurship is a proactive process of developing a business venture to make a profit. It
involves seeking opportunities for a market, establishing, and operating a business out of the
opportunity, and assessing its risks and rewards through close monitoring of the operations.
Entrepreneur is a unique individual who has the innate ability and extraordinary dedication to establish
and manage a business, acknowledging all the risks and reaping its rewards.
What it takes to make the leap from employee to entrepreneur? It takes some key shifts in mindset,
habits, and comfort levels. Some people generalize employees as followers, and entrepreneurs as leaders. Yet
there are entrepreneurial employees, and there are entrepreneurs who know when it is time to follow someone
else’s lead.
Key Differences Between Employees and Entrepreneurs
1. Employees seek direction while entrepreneurs create a path.
2. Employees do while entrepreneurs listen.
3. Employees take fewer risks while entrepreneurs live for them.
4. Employees are often specialists while entrepreneurs are generalists.
5. Employees get paid for their role while entrepreneurs get paid for results.
6. Employees love holidays because they get the day off while entrepreneurs do because they can work all day
with few interruptions.
7. Employees appreciate steady employment while entrepreneurs are comfortable without job security.
8. Employees follow rules while entrepreneurs break them.
9. Employees are responsible for some decisions while entrepreneurs are responsible for them all.
10. Employees execute tasks while entrepreneurs plan.
11. Employees like structure while entrepreneurs like infrastructure.
12. Employees work to a schedule while entrepreneurs create their own.
13. Employees are always working while entrepreneurs are always selling.
14. Employees can enjoy more social interaction while entrepreneurs often work in a silo.
15. Employees dislike failure while entrepreneurs embrace it.
8 Habits for Success

1. Read every day. 5. Plan your day the night before.

2. Focus on a high-level task 6. Keep your goals in front of you.
3. Make your health a priority. 7. Act, even when it is scary.
4. Learn from people you admire. 8. Have powerful and inspiring “why”.

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 III. Engagement
Written Work
Activity 1. Identify which among the following descriptions refer to entrepreneurs and which refer
to employees. On the blank, write EN for entrepreneurs and EM for employee.

___1. Income is earned whether the business is successful or unsuccessful.

___2. He or she is usually comfortable with routines and minimal risks.
___3. He or she is fully responsible for serving customers, making the business profitable/sustainable, and
providing employee satisfaction.
___4. He or she prepares policies, procedures, and memoranda for the business.
___5. He or she is fully dependent on the employer’s performance. If the company does not perform well, he or
she is at risk of becoming jobless.
___6. He or she is comfortable in doing multiple and challenging tasks and takes accountability with the risks and
profits of the business.
___7. Income is generated on working hours only.
___8. He or she has a flexible schedule and can take an unlimited number of vacation days.
___9. He or she is taxed on the gross income. Expenses incurred related to the job such as food and
transportation expenses cannot be used to claim for deductions from taxable income.
___10. He or she has the power to disengage nonperforming employees, applying the due process policy of
disengaging personnel.

IV. Application
Performance Task
Activity 2. Reflect and answer on the given question. (10points each)
1. What do you think are the factors that drive Filipinos to become entrepreneurial?
2. What are the three businesses that you think you will be most successful at? Why do you say
so?

Written Work
Reflection
Write your personal insights about the lesson using the prompts below.

I have learned that ________________.

I realized that ____________________.

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