Transcript Document
th
8
Warm-Up:
gr.
Symbaloo
COULD I BE AN ENTREPRENEUR?
3.01 Characteristics of
Successful
Entrepreneurs
I can understand the personal
characteristics and skills needed to be a
successful entrepreneur.
h/o 3.01 PPT notes
and the
characteristics/skills
definitions
What is an entrepreneur?
An individual who
undertakes the risk
associated with
creating, organizing,
and owning a
business.
Personal characteristics of
successful entrepreneurs
•Persistent
•Creative
•Responsible
•Inquisitive
Personal characteristics Continued
•Goal-oriented
•Independent
•Self-confident
•Risk taker
Can you think of a few
entrepreneurs?
Dave Thomas – Wendy’s
Steve Jobs: Apple
Bill Gates: Microsoft
Ray Kroc: McDonalds
Skills needed by successful
entrepreneurs
•Communication skills
•Human relations skills
•Math skills
Skills needed
Continued
•Problem-solving &
Decision-making skills
•Technical skills
•Basic business skills
1. What characteristics do the farmer and
bookstore owner have?
2. What was his innovation (creative idea)?
3. Why did he keep improvinng his products
and processes?
4. Why do entrepreneur’s need freedom?
SAVE AS PTP
5 Steps in the
Entrepreneurial Process
O Discovery
O Concept Development
O Resourcing
O Actualization
O Harvesting
Let’s review the 5 Steps in
the Entrepreneurial Process
Step 1. Discovery: The stage
in which the entrepreneur
generates ideas, recognizes
opportunities, and studies the
market
Consider your hobbies or skills
Conduct Surveys and
questionnaires
Consider consumer
needs and wants
Study demographics
Step 2 : Concept Development:
O
Develop a business plan: a
detailed proposal describing the
business idea
O What is the business location
O Will a patent, copyright or
trademark be required?
Take 3 flash cards & define the
following words by looking it up
online:
Patent
the sole right to exclude others from making, using,
or selling an invention
Copyright
the exclusive legal right, given to an originator, to publish,
perform, film, or record literary, artistic, or musical material,
Trademark
a symbol, word, or words legally registered or established by use as
representing a company or product. Brand or Logo
Bart would like to legally prevent all other businesses from using his business
name, “Headquarters Barbershop.” Bart must apply to the government to receive
a:
Copyright.
License.
Patent.
Trademark.
Susan invented a car engine that runs on fruit skins. She has received numerous
investors for her business idea, located an empty garage to house her business, and
is ready to begin operations of her new business. Before opening her business,
Susan should apply for a:
Copyright.
License.
Patent.
Trademark.
Sherandie is a graphic artist who operates a small t-shirt business, “Simply T’s.”
Sherandie discovered that larger t-shirt companies were using some of her designs.
How can Sherandie protect her t-shirt designs?
Apply for a copyright
Apply for a patent
Apply for a trademark
Sue the other companies
Step 3 : Resourcing
The stage in which the entrepreneur identifies
and acquires the financial, human, and capital
resources needed for the venture startup, etc.
Identify potential
investors
Apply for
loans, grants
and assistance
Hire
employees
Step 4 : Actualization:
O The stage in which the
entrepreneur operates the
business and utilizes resources
to achieve its goals/objectives.
Day to Day Operations
Step 5 : Harvesting:
O The stage in which the entrepreneur decides
on venture’s future growth, development, or
demise
O What is your 5 or 10 year plan?
O Consider Expansion: Possibly add multiple
locations
• Will you provide different products/services
3.02 THE ENTREPRENEURIAL
PROCESS
• Located on Aemerson
website; Daily Activities
• Make sure your name is on
the paper
• Print & turn in
What product or service are
you interested in selling?
O Use the links on Symbaloo to
research the possibilities
O Think of what you like/love to do
O It must be something you can do or
create
O What are your hobbies or what do
you do well
Need some ideas?
O For help go to Symbaloo
O Top 10 Business Ideas
O The 37 Greatest Business Ideas
O 14 Teen Business Ideas
O Finding Business Ideas
Research & Create
Research & make sure you
understand your
product/service well
Create a company name, if
applicable a product name
Create your one-of-a-kind logo
Business Project
Rubric
O Go to Aemerson website;
daily activities
O Open Business Project file
Let’s take a
look at an
example first
Open PowerPoint
•
•
Find a design you like
Use transitions/animations
st
1
Slide
Put your Name on the 1st slide
What is your Companies Name?
Does your product have a name too ?
Create a logo
Visit the following sites on Symbaloo:
• What Makes a Good Logo
• Free Logo Designs
2nd Slide
O Tell us in detail what your product or
service is. Examples..
O Hourly charge (for service)
O Does it have unique features?
O What makes you qualified to sell this
product/service?
O Is it something that is useful, trendy,
meets the needs or wants of your
clientele?
3rd Slide
O Who is your target audience?
Why?
O Babies, Teens, Adults, Senior
Citizens
O what is the placement?
O On-line, Store, Fairs,
O Hours of operation.
4th Slide/ promotion
Your TV/radio advertisement & flyer
should include the following:
O Name of company
O What are you selling
O Where can I buy it
O Is there a deal: examples
O free to the first 20
O 20% discount if you mention the ad.
5th Slide / competition
Who is your competition
OList 3 competitor’s and
include the pricing of their
product
Now do your
flyer.
Practice your
presentation with a
partner.
Be sure to spellcheck
your PowerPoint
Shark Tank Inventor’s Pitch