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1、The World of the EntrepreneurEvery year U.S. entrepreneurs launch 565,000 new businesses.Entrepreneurial spirit - the most significant economic development in recent history.GEM study: 12.3% of adult population in the U.S. is actively involved in trying to start a new business. 1 - 2Entrepreneurial
2、Activity Across the Globe1 - 3Entrepreneurship-Friendly Nations1 - 4The World of the EntrepreneurGlobal Entrepreneurship Monitor (GEM) study reports:Men are twice as likely to start a business as women.Most entrepreneurs turn to family members and friends for capital.Entrepreneurs are most likely to
3、 launch businesses when they are between the ages of 35 and 44. 1 - 5What is an Entrepreneur?One who creates a new business in the face of risk and uncertainty for the purpose of achieving profit and growth by identifying opportunities and assembling the necessary resources to capitalize on them. 1
4、- 6What is an Entrepreneur? 1803: Jean-Baptiste Say: An entrepreneur is an economic agent who unites all means of production- land of one, the labour of another and the capital of yet another and thus produces a product. By selling the product in the market he pays rent of land, wages to labour, int
5、erest on capital and what remains is his profit. He shifts economic resources out of an area of lower and into an area of higher productivity and greater yield. 1934: Schumpeter: Entrepreneurs are innovators who use a process of shattering the status quo of the existing products and services, to set
6、 up new products, new services.1 - 7What is an Entrepreneur?1961: David McClleland: An entrepreneur is a person with a high need for achievement N-Ach. He is energetic and a moderate risk taker. 1964: Peter Drucker: An entrepreneur searches for change, responds to it and exploits opportunities. Inno
7、vation is a specific tool of an entrepreneur hence an effective entrepreneur converts a source into a resource. 1971: Kilby: Emphasizes the role of an imitator entrepreneur who does not innovate but imitates technologies innovated by others. Are very important in developing economies.1 - 8What is an
8、 Entrepreneur?1975: Albert Shapero: Entrepreneurs take initiative, accept risk of failure and have an internal locus of control. 1975: Howard Stevenson: Entrepreneurship is the pursuit of opportunity without regard to resources currently controlled. 1983: G. Pinchot: Intrapreneur is an entrepreneur
9、within an already established organization. 1985: W.B. Gartner: Entrepreneur is a person who started a new business where there was none before.1 - 9Characteristics of EntrepreneursDesire for responsibilityPreference for moderate levels of risk risk eliminatorsConfidence in their ability to succeedD
10、eterminationDesire for immediate feedbackHigh level of energyFuture orientation opportunity, necessity, and serial entrepreneursSkilled at organizingValue achievement over money1 - 10Characteristics of EntrepreneursEntrepreneurs tend to exhibit:A high degree of commitmentTolerance for ambiguityFlexi
11、bilityA willingness to work hardTenacity1 - 11Sources of Entrepreneurial Success1 - 12Benefits of EntrepreneurshipThe opportunity to:Create your own destinyMake a differenceReach your full potentialReap impressive profitsContribute to society and to be recognized for your effortsDo what you enjoy an
12、d to have fun at it 1 - 13Drawbacks of EntrepreneurshipUncertainty of incomeRisk of losing your entire investmentLong hours and hard workLower quality of life until the business gets establishedHigh levels of stressComplete responsibilityDiscouragement1 - 14Feeding the Entrepreneurial FireEntreprene
13、urs as heroesEntrepreneurial educationDemographic and economic factorsShift to a service economyTechnology advancementsIndependent lifestyleThe Internet and cloud computing1 - 15U.S. Retail E-Commerce Revenues1 - 16Feeding the Entrepreneurial FireEntrepreneurs as heroesEntrepreneurial educationDemog
14、raphic and economic factorsShift to a service economyTechnology advancementsIndependent lifestylesThe Internet and cloud computingInternational opportunities1 - 17(continued)The Cultural Diversity of EntrepreneurshipYoung entrepreneurs 1 - 18Entrepreneurial Activity by Age Group1 - 19The Cultural Di
15、versity of EntrepreneurshipYoung entrepreneursWomen entrepreneursMinority-owned enterprises1 - 20(continued)Growth in MinorityOwned Businesses since 20021 - 21The Cultural Diversity of EntrepreneurshipYoung entrepreneursWomen entrepreneursMinority-owned enterprisesImmigrant entrepreneursPart-time en
16、trepreneurs1 - 22(continued)The Cultural Diversity of EntrepreneurshipHome-based businessesFamily businessesCopreneursCorporate castoffsCorporate dropoutsSocial entrepreneursRetiring baby boomers1 - 23(continued)Small Businesses .Make up 99.7% of the 27.9 million businesses in the U.S.Employ 50% of
17、the nations private sector workforce.Create more jobs than big businesses.65% of net new jobs over the last decade3% of small companies create 70% of net new jobs in the economy.Gazelles (20% growth, $100K+ sales)1 - 24Small Businesses by Industry1 - 25Small Businesses .Produce 51% of the nations pr
18、ivate GDP.Account for 47% of business sales.Create 13 times more patents per employees than large companies.Zipper, light bulb, FM radio, laser, air conditioning, escalator, personal computer, automatic transmission, and many more!1 - 26(continued)The Ten Deadly Mistakes of EntrepreneurshipManagemen
19、t mistakesLack of experiencePoor financial controlWeak marketingFailure to develop a strategic planUncontrolled growthPoor locationImproper inventory controlIncorrect pricingInability to transition growth1 - 27Putting Failure Into PerspectiveEntrepreneurs are not paralyzed by the prospect of failure
20、.Failure a natural part of the creative process. Successful entrepreneurs learn to fail intelligently.1 - 28Business Starts and Closures1 - 29Avoiding the Pitfalls of Small Business FailureKnow your business in depthDevelop a solid business planManage financial resourcesUnderstand financial statementsLearn to manage people effectivelySet your business apart from the competitionMaintain a positive at
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