The Successful Entrepreneur

The participants will be able to . . .

–Define entrepreneurship
–Identify and analyze characteristics of a successful entrepreneur
–Identify the reasons for planning in entrepreneurial businesses
–Generate ideas for business
 What is an Entrepreneur?
• People who own, operate, and take the
risk of a business venture.
• Entrepreneurship is the process of running
a business of one’s own.
• Entrepreneurs try to identify the needs of
the marketplace and to meet those needs
by supplying a service or product.
• Entrepreneurs assume risk.
 Characteristics of
Successful Entrepreneurs

Persistent

Entrepreneurs are willing to work until a job

is done, no matter how long it takes.
 Characteristics of
Successful Entrepreneurs

Creative

Entrepreneurs continually look for new ways

to solve old problems.
 Characteristics of
Successful Entrepreneurs

Responsible

Entrepreneurs do not “pass the buck”. They

take responsibility for their decisions and
actions.
 Characteristics of
Successful Entrepreneurs

Inquisitive

Entrepreneurs want to know as much as

possible about anything that might affect
their ventures. They conduct research and
ask questions to solve problems.
 Characteristics of
Successful Entrepreneurs

Goal-Oriented

Entrepreneurs decide where they want to go

and then set out to get there.
 Characteristics of
Successful Entrepreneurs

Independent

Entrepreneurs want to set their own

agendas and schedules. They want to
make their own decisions.
 Characteristics of
Successful Entrepreneurs

Self-Demanding

Entrepreneurs have high expectations of

themselves.
 Characteristics of
Successful Entrepreneurs

Self-Confident

Entrepreneurs believe in themselves and act

accordingly.
 Characteristics of
Successful Entrepreneurs

Risk-Taking

Entrepreneurs like to take risks, but they are

not reckless. They seek opportunities that
offer both a challenge and a reasonable
chance of success.
 Characteristics of
Successful Entrepreneurs

Restless

Once entrepreneurs achieve their goals,

they begin looking for new challenges.
 Characteristics of
Successful Entrepreneurs

Action-Oriented

• Entrepreneurs are doers as opposed to

spectators. They make decisions and act
on them.
 Characteristics of
Successful Entrepreneurs

Enthusiastic

Entrepreneurs are energetic and passionate

about their pursuits.
Contributions of
Successful
Entrepreneurs
Why is
entrepreneurship
important?
 Contributions of
Successful Entrepreneurs

Innovation
Creation of new
product, services and
processes
 Contributions of
Successful Entrepreneurs

Jobs

Creation of
employment
 Contributions of
Successful Entrepreneurs

Prosperity
Creation of wealth
 Contributions of
Successful Entrepreneurs

Economic
& Societal
Growth in
Contribution
nation
 Contributions of
Successful Entrepreneurs
 Characteristics of
Successful Entrepreneurs

Enthusiastic

Entrepreneurs are energetic and passionate

about their pursuits.
 Great Resources
• SBA.gov
• Your Chamber of Commerce
• Google Web Search = “Entrepreneur”