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Section 2.2Section 2.2 Pages 23-31Pages 23-31

What you’ll learnWhat you’ll learn The background of The background of entrepreneursentrepreneurs

What characteristics are What characteristics are found in most entrepreneursfound in most entrepreneurs

2.2 What Does It Take To Be An Entrepreneur?

What you’ll learnWhat you’ll learn What skills are needed by What skills are needed by entrepreneursentrepreneurs

How to strengthen your How to strengthen your entrepreneurial entrepreneurial characteristicscharacteristics

How to develop your How to develop your entrepreneurial skillsentrepreneurial skills

2.2 What Does It Take To Be An Entrepreneur?

Why it’s importantWhy it’s important You need to develop the You need to develop the characteristics and skills that characteristics and skills that are helpful to entrepreneurs.are helpful to entrepreneurs.

2.2 What Does It Take To Be An Entrepreneur?

Key TermsKey Termsrole modelrole model

foundational skillsfoundational skills

InternetInternet

profileprofile

2.2 What Does It Take To Be An Entrepreneur?

I. BACKGROUNDI. BACKGROUND

A.A. Entrepreneurs include a Entrepreneurs include a wide span of ages, wide span of ages, educational backgrounds, educational backgrounds, and personal histories.and personal histories.

2.2 What Does It Take To Be An Entrepreneur?

B.B. Many entrepreneurs were Many entrepreneurs were influenced in life by a influenced in life by a role role modelmodel, , a person whose a person whose attitude and achievements attitude and achievements they tried to emulate.they tried to emulate.

2.2 What Does It Take To Be An Entrepreneur?

II. CHARACTERISTICSII. CHARACTERISTICS

It takes certain trait and It takes certain trait and qualities to set up and run a qualities to set up and run a business.business.

A.A. Persistence Persistence

B.B. Creativity Creativity

2.2 What Does It Take To Be An Entrepreneur?

C. C. ResponsibilityResponsibility

D.D. Inquisitiveness Inquisitiveness

E.E. Goal-oriented Goal-oriented

F. F. IndependenceIndependence

G.G. Self-demanding Self-demanding

2.2 What Does It Take To Be An Entrepreneur?

H.H. Self-confidence Self-confidence

I.I. Risk-taking Risk-taking

J. J. RestlessnessRestlessness

K. K. Action-orientedAction-oriented

L.L. Enthusiasm Enthusiasm

2.2 What Does It Take To Be An Entrepreneur?

2.2 What Does It Take To Be An Entrepreneur?

III. SKILLSIII. SKILLS

A.A. Foundational skillsFoundational skills are math, are math, communication, and decision-communication, and decision-making skills that making skills that entrepreneurs use regularly entrepreneurs use regularly in setting up and running a in setting up and running a business.business.

2.2 What Does It Take To Be An Entrepreneur?

B.B. Research has identified Research has identified certain skills needed by certain skills needed by entrepreneurs.entrepreneurs.

1.1. Communication skills Communication skills

2.2. Human relation skills Human relation skills

2.2 What Does It Take To Be An Entrepreneur?

3.3. Math skills Math skills

4.4. Problem-solving and Problem-solving and

decision-making skillsdecision-making skills

5.5. Technical skills Technical skills

6.6. Basic business skills Basic business skills

2.2 What Does It Take To Be An Entrepreneur?

C.C. One valuable research tool One valuable research tool for entrepreneurs is the for entrepreneurs is the InternetInternet, , a large computer a large computer network linking smaller network linking smaller computer networks computer networks worldwide.worldwide.

2.2 What Does It Take To Be An Entrepreneur?

IV. BUILDING YOUR IV. BUILDING YOUR ENTREPRENEURIAL ENTREPRENEURIAL BACKGROUNDBACKGROUND

Entrepreneurial Entrepreneurial characteristics can be characteristics can be cultivated.cultivated.

2.2 What Does It Take To Be An Entrepreneur?

Discussion Starter

Discuss: Successful people see failures as stepping stones; unsuccessful people see failures as road blocks.

2.2 What Does It Take To Be An Entrepreneur?

V. DON’T WORRY ABOUT V. DON’T WORRY ABOUT YOUR BACKGROUNDYOUR BACKGROUND

A.A. Sharing background Sharing background profileprofile experiences with typical experiences with typical entrepreneurs increases the entrepreneurs increases the likelihood of one’s having a likelihood of one’s having a business.business.

2.2 What Does It Take To Be An Entrepreneur?

B. B. A A profileprofile is a set of is a set of characteristics or qualities characteristics or qualities that identifies a type, or a that identifies a type, or a category of person.category of person.

2.2 What Does It Take To Be An Entrepreneur?

C. C. A can-do attitude and a A can-do attitude and a genuine desire to go into genuine desire to go into business for one's self is far business for one's self is far more important than having more important than having a certain profile.a certain profile.

2.2 What Does It Take To Be An Entrepreneur?

VI. STRENGTHENING VI. STRENGTHENING ENTREPRENEURIAL ENTREPRENEURIAL CHARACTERISTICSCHARACTERISTICS

2.2 What Does It Take To Be An Entrepreneur?

A. A. With commitment and work, With commitment and work, characteristics can be characteristics can be strengthened and developed.strengthened and developed.

2.2 What Does It Take To Be An Entrepreneur?

B. B. Entrepreneurial Entrepreneurial characteristics can be characteristics can be strengthened through certain strengthened through certain activities.activities.

2.2 What Does It Take To Be An Entrepreneur?

1.1. Reading Reading

2.2. Writing Writing

3.3. Watching Watching

4.4. Practicing Practicing

2.2 What Does It Take To Be An Entrepreneur?

VII. THREE STEPS TO VII. THREE STEPS TO FOLLOWFOLLOW

A.A. Determine the strength of Determine the strength of your entrepreneurial your entrepreneurial characteristics.characteristics.

2.2 What Does It Take To Be An Entrepreneur?

Gauging your strengths can help you plan for success.Gauging your strengths can help you plan for success.

2.2 What Does It Take To Be An Entrepreneur?

B. Make a conscious effort to think of entrepreneurial characteristics as habits to be changed.

2.2 What Does It Take To Be An Entrepreneur?

C. Develop the characteristics in which you feel weak.

2.2 What Does It Take To Be An Entrepreneur?

D. One's need for One's need for achievement can be achievement can be increased through certain increased through certain activities.activities.

2.2 What Does It Take To Be An Entrepreneur?

1.1. Think like an achiever. Think like an achiever.

2.2. Use the language of Use the language of achievement.achievement.

3.3. Plan for achievement. Plan for achievement.

4.4. Act positive. Act positive.

2.2 What Does It Take To Be An Entrepreneur?

Math Problem

If 8,400 businesses start each week, how many will start in a year? If 1 in 4 fail, how may remain open?

2.2 What Does It Take To Be An Entrepreneur?

VIII. DEVELOPING YOUR VIII. DEVELOPING YOUR ENTREPRENEURIAL ENTREPRENEURIAL SKILLSSKILLS

Entrepreneurs must develop Entrepreneurs must develop as much competence as as much competence as necessary to set up and run a necessary to set up and run a successful operation.successful operation.

2.2 What Does It Take To Be An Entrepreneur?

End of Section 2.2End of Section 2.2