ENTREPRENEURSHIP

 Has traditionally been defined as the process of

designing, launching and running a new business,
which typically begins as a small business.

 It has been expanded to explain how and why some

individuals (or teams) identify opportunities, evaluate
them as viable, and then decide to exploit them.
 ENTREPRENEUR
People who own, operate and take the risk of a business venture.
They came from all types of backgrounds and create all kinds of
business. People of all ages . Some own tiny craft stores while other
huge construction companies. These are persons who try to identify
unmet needs in the marketplace, then provide a service or product to
meet those needs. When they succeed, their business flourish , and
profits are earned. But if their business idea is unsuccessful, they may
lose the money they invested.
 ENTREPRENEUR
 Someone who exercises initiative by organizing
a venture to take benefit of an opportunity and,
as the decision maker, decides what, how,
and how much of a good or service will be
produced.

 An entrepreneur supplies risk capital as a risk

taker, and monitors and controls the business
activities. The entrepreneur is usually a sole
proprietor, a partner, or the one who owns the
majority of shares in an incorporated venture.
 TYPES OF ENTREPRENEUR
1. The skeptical entrepreneur
This entrepreneur sees the success of others and
immediately starts to question it. They examine that
person's business and looks for the “lucky” breaks, or
inheritance they think the successful entrepreneur
received.
2. The copycat entrepreneur
This entrepreneur sees the success of others
and tries to copy them exactly.
 TYPES OF ENTREPRENEUR
3. The research entrepreneur
This entrepreneur loves to learn. They research every
possible scenario and outcome for strategies to start or
grow a business.

4. The determined entrepreneur

This entrepreneur hasn’t “made it” but they will, no matter
what. They see the value in entrepreneurship, they see that
success is possible without copying, and they do everything
they can to start or grow their business.
 TYPES OF ENTREPRENEUR
5. The accomplished entrepreneur
This entrepreneur has gone through all the stages of
entrepreneurship and building a business, and has
reached success. They are now focused on scaling
their business and leaving a legacy that extends
beyond their lifetime.
 PERKS OF BEING AN
ENTREPRENEUR
(not limited to)

RISK of Being an Entrepreneur
(not limited to)

Long hours of work

Uncertainty of income

High level of stress

Family risk
Explore Ideas Millions of entrepreneurs start their own
business. You may wonder how they
and decided what business to operate.
They may have acted on a new idea or
Opportunities an opportunity.

Do you have a An idea is different from

an opportunity.
hobby you are
passionate about?
Opportunities are possibilities
Do you wish you form existing conditions.
could turn that Ideas are thoughts or concepts that
hobby to career? come from creative thinking. Ideas can
come from many different sources.
 Sources of Business Ideas
Ideas Opportunities
1. Hobbies and Discovery or
Interest
invention
2. Past
Experiences
 Tools for Business Idea
Generation
1. Solve Your Own Problems
2. Solve Problems of Your Friends
3. Search for Problems
4. Structure the Problem
5. The Business Idea/ Market Matrix
6. The SCAMPER Technique
7. Make Connections
You and your friends are interested in
starting your own business, but you are not
sure what kind of business it should be. To
help you get started , think about something
do you really enjoy . Now think about ways
that you might be able to turn this activity
into a business. Make a list of business in
your area that offers related product or
service. Write a paragraph explaining your
business idea. How will your business be
different from the existing business you
listed.

BE YOUR OWN BOSS ACTIVITY…

¼ Sheet of Paper
Test I. Matching Type:
Match Column A to Column B.
CAPITAL LETTERS ONLY.
A (Type of Entrepreneur) B (Description)
1. Skeptical A. This entrepreneur loves to
learn.
2. Copycat B. This entrepreneur has gone
through all the stages of
entrepreneurship.
3. Research C. This entrepreneur sees the
success of others and
immediately starts to question it.
4. Determined D. This entrepreneur sees the
success of others and tries to
immitate them exactly.
5. Accomplished E. They see the value in
entrepreneurship, they see that
success is possible, and they do
everything they can.
Test II. Acronym:
E-
N-
T- Write any words that
R-
E- describes an
P-
R- entrepreneur.
E-
N-
U-
E-
R-
Key Answers:
1. C
2. D
3. A
4. E
5. B