Succeeding in the World of Work

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(No Transcript)
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Read to Learn

• What entrepreneur means and the traits that most
  successful entrepreneurs share
• What the advantages and disadvantages of
  entrepreneurship are

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Main Idea
Gaining knowledge about entrepreneurship and its
advantages and disadvantages will help you decide
if this is a good career option for you.
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Key Concept

• What Is an Entrepreneur?

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Key Term

• entrepreneur

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What Is an Entrepreneur?

• Small businesses represent more than 99 percent
  of American businesses.
• Small businesses employ more than 50 percent of
  the nonmilitary workforce.

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What Is an Entrepreneur?

• The risks of being an entrepreneur are high, but
  the rewards can be great.

entrepreneur
a person who organizes and then runs a business
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Advantages of Entrepreneurship
Advantages of Entrepreneurship
You are in charge. You decide when and how hard to work and how the business will operate.
There is great job satisfaction.
Entrepreneurship can lead to a good income.
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Advantages of Entrepreneurship
Disadvantages of Entrepreneurship
There is financial risk.
Entrepreneurs often work long hours.
Competition can be difficult to overcome.
There are no guarantees of success. Almost half of new businesses fail within the first four years.
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Traits of Entrepreneurs
Entrepreneurs stay motivated by setting long- and
short-term goals.
Motivation
Sight andForesight
Entrepreneurs look at problems andsee
opportunities.
DecisionMaking
Entrepreneurs make decisions every day and the
decisions must be good ones.
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Section 4.1 After You Read

1. Name one trait common to most entrepreneurs.
   Explain why you think that trait helps people
   begin and run successful businesses.

Traits common to entrepreneurs include
motivation, sight, foresight, and the ability to
make effective decisions. Explanations should
reflect an understanding of the common traits.
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Section 4.1 After You Read

1. Choose one disadvantage of entrepreneurship.
   Explain how you might overcome that disadvantage
   if you ran your own business.

Disadvantages might include competition, long
hours, financial risk, and no guarantee of
success.
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Section 4.1 After You Read

1. Does entrepreneurship appeal to you? Explain why
   or why not.

Possible answer Entrepreneurship appeals to me
because the idea of creating a business from your
own ideas, talents or goals would be really
satisfying.
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End of