“ Business Opportunities

in Small Business

”
Definition of Entrepreneurs

Characteristics of Entrepreneurs
CONTENTS

Choosing the Best Solution

Implementing Decisions

Determinants of Successful Entrepreneurship

1

Definition of Entrepreneurs
 • One who bears uncertainty, buys labor and materials,
01
and sells productss at uncertain prices.

• Always searches for change, respongs to it and exploits

02
it as an opportunity.

ENTREPRENEURS
• An innovator, he does new things or does things in a
03
new way.

04 • Those who launch their own ventures from scratch.

2

Characteristics of Entrepreneurs
Entrepreneurs enjoy challenges, Hardworking entrepreneurs
Entrepreneurs have strong faith
but they are careful and keep improving their Entrepreneurs are creative. Entrepreneurs are positive
in their abilities. They believe
calculating. They gather performance to produce good They do things in new and thinkers. They think of success
they can be the best inn their
complete data, analyze the data products and/or provide good different ways. and bright sides.
field.
and make their decisions. services.

Reasonable risk-takers Self-confident Hardworking Innovative Positive thinkers

2015 2019 2021 2023 2025

3

Choosing the Best Solution

The problem has to be identified and defined. Organize
and analyze the data to be able to come up with
alternative solutions.

4 Criteria of Choosing the Best Solution

1. Presence of risk
2. Economy of effort
3. Time factor
4. Availability of resources
4

Implementing Decisions
Entrepreneurs implement their decisions on a trial basis
or limited scale. This is to test the feasibility or profitability
of their decisions. If they happen to be right in their
decisions, they implement their business projects in full-
scale. The idea is that if they were wrong in their
decisions, their losses have been minimized.
2

Determinants of Successful Entrepreneurship

 Conceptualize Manage others
and plan
01 He must plan for the total operation of
the business.
He must be able to
organize work. 02
properly so that his
employees can
perform their jobs
efficiently and
Manage time effectively
and learn

03 An entrepreneur should
be an expert on time
Adapt change
Entrepreneurs being innovative
04
management. or creative, quickly respond to
changes for comparative
advantage.
“ THANK YOU