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Intro To Entp

The document provides an introduction to entrepreneurship, discussing what entrepreneurship entails such as having an idea and acting on it to disrupt the market. It then discusses the entrepreneurial profile, listing 10 key qualities of successful entrepreneurs which include a preference for moderate risk, self-reliance, confidence, determination, a future orientation and skill at organizing. The document concludes by discussing the benefits and risks of being an entrepreneur.

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36 views

Intro To Entp

The document provides an introduction to entrepreneurship, discussing what entrepreneurship entails such as having an idea and acting on it to disrupt the market. It then discusses the entrepreneurial profile, listing 10 key qualities of successful entrepreneurs which include a preference for moderate risk, self-reliance, confidence, determination, a future orientation and skill at organizing. The document concludes by discussing the benefits and risks of being an entrepreneur.

Uploaded by

AYESH NAVEED
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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INTRODUCTION TO

ENTREPRENEURSHIP

Sarah Zafar
E NT R E P R E N E U R S H I P
E NT R E P R E N E U R S H I P

• Entrepreneurship is when an individual who has an idea, acts on that idea,


usually to disrupt the current market with a new product or service.

• •The activity of setting up a business and taking on financial risks in the hope
of profit.
• Entrepreneurship means self - employment, which comes with the ability to set
your own schedule and work where you want. You are your own boss.
ENTREPRENEURIAL PROFILE

• Entrepreneurial Profile includes all the qualities of an individual that qualifies


him to become a good entrepreneur. These are also known as Characteristics of
an entrepreneur.
1. DESIRE FOR RESPONSIBILITY

1. They feel personally responsible for the outcome as they feel in control of the
resources.
2. Entrepreneurs strive to achieve self- determined goals.
2. PREFERENCE FOR MODERATE RISK

• Entrepreneurs are not wild risk takers.


• They are not gamblers.
• Entrepreneurs always take calculated risk by weighing the pros and cons of any
situation, and anticipating potential outcomes as well as their consequences.
• A common beilef that entrepreneurs are big risk takers is a myth.
3. SELF - RELIANCE

• At the infancy stages, entrepreneurs usually have access to limited resources.


These scarce resources includes: Manpower, Technical expertise, skillsets and
the right guidance.
• Due to lack of resources, mostly entreprenuers end up performing a lot of tasks
themselves.
4. CONFIDENCE IN THEIR ABILITY TO
SUCCEED

• Entrepreneurs are usually confident personalities.


• The main confidence is in achieving the goal they have set for themselves.
They are also confident about their career paths.
• Most entrepreneurs fail before they actually succeed – this is only possible
through sheer amount of confidence in one’s self and their idea.
5. DETERMINATION

• Successful entrepreneurs have GRIT – the ability to focus intently on achieving


singular, long – term goal.
• Entrepreneurs exhibit high levels of determination and strong will, especially
in the face of challenging circumstances.
6. DESIRE FOR IMMEDIATE FEEDBACK

• Entrepreneurs are always on the lookout for feedback.


• Feedback always comes once the customer has used the product or service.
• Timely feedback helps the entrepreneurs to keep improving their mistakes.
• Constructive crticism = Positive feedback.
• Constructive criticism helps the entrepreneur to set higher standards of
performance for their companies and themselves.
7. HIGH LEVELS OF ENERGY

• Entrepreneurs are usually more energetic than the average person.


• Good entrepreneurs are willing to work long hours.
• Hard work and long hours are a rule defined by the entrepreneurs for themslves
rather than an exception.
8. FUTURE ORIENTATION

• Entrepreneurs are usually working towards the betterment of the product as


well as the company.
• Entrepreneurs see the potential where most people only see a problem or
nothing at all.
• Great entrepreneurs are not usally satifsied, always working towards achieving
more.
HOME TASK

• Find at least 5 examples of local and international entrepreneurs. Briefly


explain their stories.
9. SKILL AT ORGANIZING

• Entrepreneurs are good at managing themselves, as well as the people


involved.
• They know how to put the right people together to accomplish the tasks.
• They pick the right person for the right task.
• “Great entrepreneurship is in the execution.”
10. VALUE OF ACHIEVEMENT OVER
MONEY

• Entrepreneurs prefer the ‘joy of creating’ and adding value to people’s lives
more than monetary rewards.
WHY BE AN ENTREPRENEUR?

• Making your own rules


When you own a business, you get to be your own boss.

2. Doing work you enjoy


Since the majority of most peoples’ lives is spent working, why not
spend that time doing something you enjoy?
WHY BE AN ENTREPRENEUR?

• 3. Creating greater wealth


There is no limit to what an entrepreneur can make.

4. Helping your community


Being an entrepreneur lets you make your community and world a better place.
RISKS OF BEING AN ENTREPRENEUR

• Potential business failure


• Unexpected Obstacles
• Financial Insecurity
• Long hours and hard work
BUSINESSMAN VS. ENTREPRENEUR

BUSIENSSMAN ENTREPRENEUR
• A person who starts a business on an old • A person who brings his unique idea to
concept or idea. run a startup company is known as an
entrepreneur.
• A person who makes his place in the
market with his efforts and dedication. • A person who creates the market for his
own business.
• Entrepreneur is a market leader because
• A businessman is a maket player.
he is the first to start such a kind of
enterprise.
BUSINESSMAN VS. ENTREPRENEUR

BUSIENSSMAN ENTREPRENEUR

A businessman is primarily concerned with • An entrepreneur is a people – focused in


the profits. essence, he gives more importance to his
employees and customers. Profits c omes
in later stages.
The risk factor is low but faces a huge
• He takes risks and may have competitors
competition from the rivals due to similairty
later but will remain untouched – because
of products or services.
of his uniquness.

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