Picture me Out

Picture Me Out
Picture Me Out
 Based from the picture,
what is entrepreneurship
means to you?

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 Entrepreneurship
Learning Objectives:

1. Define Entrepreneurship.
2. Identify the rewards of going
into business for yourself.
3. Recognize the risks of going
into business for yourself.
 What is entrepreneurship?

- the act of creating a business or businesses while

building and scaling it to generate a profit.

- defined as the act of starting and running your

own business or a tendency to be creative and
wish to work for yourself in your own ventures

- the process of creating a new enterprise and

bearing any risks, with the view of making the profit.
 What is entrepreneur?

- Is an individual who creates a new business,

bearing most of the risks and enjoying most
of the rewards.
- Seen as an innovator, source of new ideas,
goods, services, and business or procedures.
Rewards of Entrepreneurship

being your own boss

doing something you enjoy
being creative
setting your own schedule
having job security
making more money
being recognized in the community
Risks of Entrepreneurship
working long hours

having an uncertain income

being fully responsible

risking one’s investment

 Why be an entrepreneur?
Risking One’s Investment

Because of intense competition, business ownership can be a

difficult undertaking.

competition
- the rivalry among businesses for consumer dollars
 Why be an entrepreneur?
Risking One’s Investment

The biggest risk of being in business is the possibility of losing

one’s investment.

investment
- the amount of money a person puts into his or her business as capital
 Why be an entrepreneur?
Risking One’s Investment

One important factor of production for entrepreneurs is acquiring

capital.

capital
- the buildings, equipment, tools, and other goods needed to produce
a product, or the money used to buy these items
 What does it take to be an entrepreneur
Section Objectives

• Identify the background, characteristics, and skills of

successful entrepreneurs.
• Explain techniques that will improve your potential for
becoming an entrepreneur.
 What does it take to be an entrepreneur
Who Are Entrepreneurs?
Entrepreneurs are important to the nation’s economy.

Researchers have done studies to determine if entrepreneurs

have any traits, experiences, and skills in common.
 What does it take to be an entrepreneur
Background

Many entrepreneurs were influenced early in life by a role model.

role model
- a person with attitudes and achievements that others wish to emulate
 What does it take to be an entrepreneur
Twelve Characteristics of
Successful Entrepreneurs
 What does it take to be an entrepreneur
Ten Foundation Skills

Researchers have identified ten foundation skills needed to be a

successful entrepreneur.

foundation skills
- the skills used in all jobs and when setting up and running a business
 What does it take to be an entrepreneur
Ten Foundation Skills
Characteristics of an entrepreneur wherein he/she
continue positive maintenance of entrepreneurial
motivation and constantly renewed active
engagement in a new business venture despite
counter forces.

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He/ she keeps on introducing new
ideas, products and services

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 Three Levels of Competencies
Personal Competencies

• These are your abilities or potentials to ground yourself so

that you are secure and self- assured in whatever situation
you may find yourself.
Example:
Creativity
Determination
Integrity
Tenacity
Emotional balance
Self- criticism
 Three Levels of Competencies
Interpersonal Competencies

• These are your ability to lead, influence, communicate,

supervise, negotiate and control at all levels. It is the ability
ability to get along with people and motivate people to
perform jobs. Entrepreneurs must effectively manage
people.
Example:
Communication
Engagement
Delegation
Charisma
Social skills
 Three Levels of Competencies
Business Competencies

• These are set of particular abilities and knowledge that sets

a company apart from its competitors It also refers to the
key characteristics that successful entrepreneurs should
have in order to be successful.
Example:
Business vision
Financial Management
Networking
 Share your Idea

Be the change you wish to see in the world.

-Mahatma Gandhi