Rewards and Challenges

of Entrepreneurship
Entrepreneurship
 What is an entrepreneur?
 Someone who recognizes a business opportunity
and organizes, manages, and assumes the risk of
starting and operating a business.
 What is entrepreneurship?
 The process of recognizing a business
opportunity, testing it in the market, and gathering
the resources necessary to go into business.
Characteristics
 12 Main Characteristics of Entrepreneurs
 Persistent  Responsible
 Risk Taking  Self-Demanding
 Self-Confident  Creative
 Restless  Independent
 Goal-Oriented  Inquisitive
 Action-Oriented  Enthusiastic
Characteristics

Persistent - Willing to work until a job is

done, no matter how long it takes

Risk-taking - Take risks, but they are not

reckless

Self-confident - Believe in themselves

Characteristics

Restless - Once entrepreneurs achieve their

goals, they start looking for new challenges

Goal-oriented - Set and achieve goals

Action-oriented - Doers instead of spectators;

they take action.
Characteristics

Responsible - Take responsibility for their

decisions and action

Self-demanding - High expectations

Creative - Look for new ways to solve old

problems
Characteristics

Independent - Want to make their own

decisions

Inquisitive - Conduct research and ask

questions to solve problems

Enthusiastic - Energetic and passionate about

their pursuits
Rewards of Entrepreneurship
 Be your own boss
 You are in charge
 This is the main reason most people become entrepreneurs
 No consulting with others
 Do what you enjoy
 Business adventure usually start with something that the person
enjoys to do
 New business owners usually get satisfaction from developing
the new enterprise
 Opportunity to be creative
 Follow your own procedures
 Shape it the way you want to
 Creative power
 Building an enterprise
 Many entrepreneurs work in a related business before starting
their own
 Decide to buy a current business or develop a new one
Challenges of
Entrepreneurship
 Getting funds to start
 Biggest hurdle is obtaining financing
 Most have to borrow money to get started
 Financial institutions are concerned about the chances of
success
 Being fully responsible
 Responsible for everything
 All duties must go through you
 Longer hours
 Harder decisions
 Loneliness
 Responding to change
Thank you!!