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SLIDE 1
CHAPTER
Entrepreneurship and
Small Business Management
6-1
Becoming an Entrepreneur
6-2
6-3
Principles of Business, 8e
6-1
Becoming an
Entrepreneur
SLIDE 2
CHARACTERISTICS OF
ENTREPRENEURS
C H AP T E R
SLIDE 3
Principles of Business, 8e
C H AP T E R
ENTREPRENEURS
IN ACTION
SLIDE 4
Principles of Business, 8e
C H AP T E R
SLIDE 5
Principles of Business, 8e
C H AP T E R
Persistent
Inquisitive
Energetic
Goal-oriented
Independent
SLIDE 6
Self-confident
Creative
Reliable
Competitive
Principles of Business, 8e
C H AP T E R
ENTREPRENEURS HAVE
SLIDE 7
Problem-solving skills
Tolerance for ambiguity
Strong integrity
Personal initiative
Ability to secure resources
Capability to learn from failure
Willingness to work hard
2012 Cengage Learning. All Rights Reserved.
Principles of Business, 8e
ENTREPRENEURSHIP
AND THE ECONOMY
C H AP T E R
SLIDE 8
Principles of Business, 8e
Employment Growth by
Business Size, 19902005
C H AP T E R
SLIDE 9
Principles of Business, 8e
C H AP T E R
SLIDE 10
Principles of Business, 8e
C H AP T E R
SLIDE 11
Principles of Business, 8e
NEW BUSINESS
OPPORTUNITIES
C H AP T E R
SLIDE 12
Principles of Business, 8e
C H AP T E R
SLIDE 13
RECOGNIZING RISKS
Lack of adequate capital
Low sales
Higher than expected expenses
Competitive pressure
An owner unprepared to manage a
growing business
Operations requiring more time than the
owner is willing to commit
2012 Cengage Learning. All Rights Reserved.
Principles of Business, 8e
C H AP T E R
SLIDE 14
Where do entrepreneurship
opportunities begin?
Opportunities begin with innovations (ideas
about new products and services) or
improvements (ideas for changes to
existing products, services, or processes).
Principles of Business, 8e