ENTREPRENEUR

Entrepreneurship

​Entrepreneur

​

• An individual who undertakes the risk associated with creating, organizing, and owning a business.

Multiple Select

Select all that apply:

What are characteristics?

• a feature or quality belonging typically to a person, place, or thing and serving to identify it

• No Clue

• Attributes or traits are special qualities or that make an individual or a group different from others

Multiple Select

Which of the following statements describe an entrepreneur?

CHECK ALL THAT APPLY

• commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.

• play a key role in any economy, using the skills and initiative necessary to anticipate needs and bringing good new ideas to market.

• an individual who creates a new business, bearing most of the risks and enjoying most of the rewards

• a person who works for someone else

Multiple Choice

Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities.

• True

• False

Multiple Choice

Who can be an entrepreneur?

• Only the wealthy

• People with a college degree

• People over the age of

• Anyone

​Personal Characterisitcs of Successful Entrepreneurs

• ​Persistent Creative​

• ​Responsibile ​Goal-Oriented

• ​Independent ​Risk Taker

• ​Self-confident Organized

• ​Strong Work Ethic Flexible

  Inquisitive Passionate

​Persistent

• Entrepreneurs work until a job is done. 

• They are determined to overcome problems and to pursue their goals in order to make their business successful. 

​Creative

​Entrepreneurs are constantly looking for new ways to solve problems. 

​Responsible

​ An entrepreneur is accountable for his/her actions and does what is required. 

​Inquisitive

​Entrepreneurs are curious about things that may affect their business. They are not afraid to ask questions or to conduct research in order to solve problems.

Goal-Oriented​

​Entrepreneurs develop a plan of action and must make decisions to help achieve that plan. 

Independent​

• Entrepreneurs want to make their own decisions.   

• They set their own schedules and are able to work without supervision.

​Self-Confident

​Entrepreneurs believe in themselves and know they can do what they set their mind to doing.

Risk-Takers

• Entrepreneurs look for challenging opportunities. 

• They are not afraid to take risks.

Multiple Choice

A person who is persistent gives up easily

• True

• False

Multiple Choice

If I make a plan for my business to sell $1,000 of products each month and I place ads and sent emails to customers to market my products, I am being goal-oriented

• True

• False

Multiple Choice

Bradley decides to open his own auto repair business. He sets his own hours and makes sure he completes each job for his customers on time. This shows that he is ________.

• creative

• inquisitive

• Independent

• risk taker

Multiple Choice

Ula is thinking about adding a product in her store. She sends an email to her customers asking if they would be interested in buying the product. She is being

• responsible

• inquisitive

• creative

• goal oriented

Multiple Choice

Jayda thinks of a new way to protect phone screens from cracking. This is an example of being?

• responsible

• inquixsitive

• creative

• goal oriented

​Skills Needed by Successful Entepreneurs

• ​Communication skills

• ​Interpersonal skills

• ​Math skills

• ​Problem-solving and decision making skills

• ​Basic business skills

Multiple Select

Skills needed by successful entrepreneurs: (check all that apply)

• Communication Skills

• Basic Business Skills

• Problem Solving Skills

• Science Skills

• Interpersonal skills

Multiple Choice

True or False: A customer says they did not get the item they ordered. Steve fixes the problem. He is being responsible for his business.

• True

• False

Multiple Select

Which of the following shows self-confidence

• Bradley knows he can fix any car that comes to his shop

• Azaria know she can give a haircut to anyone that comes to her beauty salon

• Stephanie worries that she cannot stock the right items for her clothing store

Multiple Choice

Devin decides to open a new restaurant in Warrenton. He has to invest his own money to start the business. He is showing that he is ________

• A risk taker

• Inquisitive

• Responsible

• Creative

Communication Skills

• Entrepreneurs need effective communication skills in order to gather the information necessary to organize and run their business. 

• Entrepreneurs must develop writing, speaking, and listening skills. 

• Example 1: If you are a plumber, you must be able to listen to your customer to determine what is wrong so you can fix it. You must also be able to tell the customer what you did to fix the problem.

• Example 2: You need to be able to write well so you can create flyers for your business.

Multiple Choice

True or False: Good communication skills include speaking, writing, and listening.

• True

• False

Human Relations Skills

• It is essential that entrepreneurs be able to work with and get along with others. They need to enjoy meeting and talking to people.

• If you do not enjoy meeting and talking to people, it will be hard to take care of your customers.

Multiple Choice

If you enjoy meeting and talking with others and you work well with others, what type of skill do you have?

• Human Relations

• Math

• Technical

• Business

​Problem Solving skills

​Decision-making skills

​Technical skills

basic business skills

​The ability to identify problems, brainstorm and analyze answers, and implement the best solutions.

​All of the abilities, talents and previous experiences you need to make an informed, rational choice

​The specialized knowledge and expertise required to perform specific tasks and use specific tools and programs in real world situations.

​A foundation for success in the business world and include soft skills like communication, along with analytical and organizational skills that help a business succeed.

Math Skills

• Basic arithmetic and knowledge of basic record keeping are needed for the entrepreneur to make purchase decisions, calculate profit, and complete financial statements.

• Example 1: Jose has to compare the costs for supplies from two different vendors. He is using math skills to make sure he gets the best price for the products he sells in his store

• Example 2: Zoey is adding the money she made from sales this month and subtracting it from the costs she had to find out how much profit her business made.

Multiple Select

Which of the following is an example of using math skills. CHOOSE ALL that apply.

• Calculating how much you need to sell your products for in order to make a profit

• Counting change for a customer

• Talking to a customer about the features of a product you are selling

Problem-Solving and Decision-Making Skills

• Entrepreneurs must make decisions and solve problems every day.

• Example: Jenis accidentally ordered too much lip gloss. She decides to have a sale to try to sell the extra products instead of keeping the stock and slowly selling it.

• A customer complains that Devin does not have their size shirt in stock. Devin offers to order the shirt and ship to to the customer.

Multiple Choice

True or False: Problem-Solving and Decision-Making is a very important skill for entrepreneurs

• True

• False

Technical Skills

• Computer skills are essential in almost every business.

• Example 1: You will use software, like spreadsheets for tracking money and inventory and documents to send letters

• You will use technology to promote your products with a website and social media.

Multiple Choice

True or False: Taylor creates a video about her clothes boutique and posts it on Instagram. She is using her technical skills.

• True

• False

Business Skills

• Entrepreneurs must have a basic understanding of how the economy works.

• They also need a basic understanding about the functions of business: accounting/finance, marketing, and management.

• Example 1: Ayana plans a marketing campaign to increase sales around the Christmas holiday.

Multiple Choice

Understanding the economy, accounting/finance, marketing, and management is what type of skill?

• Technical skills

• Communication skills

• Business Skills

• Math skills

Multiple Choice

A reward for setting up your own business is.....

• You work for someone else and get a salary and holiday entitlement.
• Be your own boss, make your own decision and change the business as you want.

Multiple Choice

The reward for enterprise is?

• Profit
• Hard work
• Risk
• Self-discipline

Multiple Choice

What are the characteristics of an entrepreneur?

• Creative, risk taker, determined, confident, adaptable
• Not creative, risk averse, unreliable, joker
• Happy, loving, joker, hard working
• Predictable, sad, demotivated, risk averse

Multiple Choice

What must a company do to ensure any new idea is successful?

• Check it satisfies a customer need = market research
• Carry out a successful launch of the product/service

Multiple Choice

What is meant by enterprise?

• A person who spots an opportunity to provide goods or services to customers in order to make a profit
• The process/activities by which new businesses are formed in order to offer products and services in a market.