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Entrep Lecture

The document defines entrepreneurship as designing, launching and running a new business or venture to make a profit. It discusses who entrepreneurs are, why people become entrepreneurs including unemployment, profit and lifestyle reasons, and different types of entrepreneurships like small businesses, online businesses, home-based businesses, and serial entrepreneurship. It also lists pros like freedom, potential high earnings, flexibility, and learning, and cons like irregular work and no salary, administrative tasks, competition, and disruption to personal life.

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Rupelma Patnugot
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36 views

Entrep Lecture

The document defines entrepreneurship as designing, launching and running a new business or venture to make a profit. It discusses who entrepreneurs are, why people become entrepreneurs including unemployment, profit and lifestyle reasons, and different types of entrepreneurships like small businesses, online businesses, home-based businesses, and serial entrepreneurship. It also lists pros like freedom, potential high earnings, flexibility, and learning, and cons like irregular work and no salary, administrative tasks, competition, and disruption to personal life.

Uploaded by

Rupelma Patnugot
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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ENTREPRENEURSHIP

WHAT IS ENTREPRENEURSHIP?
• The process of designing, launching and running a new business.
• The capacity and willingness to develop, organize and manage a business venture along with any of
its risks in order to make profit.

WHO IS AN ENTREPRENEUR?
• An entrepreneur is someone who envisions, creates and evangelizes an
idea that they are absolutely crazy about.
• Someone who looks at life differently. An entrepreneur doesn’t see the
normal obstacles that life puts in our way and shy away like most of us do.
Entrepreneurs think the word “no” means “to find a better way”.
Entrepreneurs are continually learning growing and reaching higher

WHY ENTREPRENEURSHIP?
• Unemployment
• Profit making
• The need to learn more
 THE NEED FOR A LIFESTYLE NOT BOUND BY A 9-5 JOB
 LACK OF A FORMAL EDUCATION.
 BEEN THROUGH THE SCHOOL OF HARD KNOCKS
School of hard knocks is an idiomatic phrase meaning the experience gained from living,
especially from disappointment and hard work – often regarded as a means of education.
There come certain points in life where, in assessing experience, one concludes that one has been
through more than enough to not be afraid to branch out on one’s own. Everyone goes through the
school of hard knocks; its always a question of what one does with the experience.
TYPES OF ENTREPRENEURSHIPS

Small businesses - include mom and pop shops and local businesses. Small businesses can include sole
proprietorships, partnerships and limited liability companies. It’s any business that has less than 500
employees

Online business - Internet based business can be small, home-based, or even large corporations. The
key difference here is that the business is operated primarily online. This includes companies like
Amazon and Jumia and any other business that does most of its business online.

A Home-based business could fit under the category of a small business, but the primary factor in this
case is that it is run from home, as opposed to an office or other location. But just because a business is
run from home doesn’t mean it can’t compete wiwth larger businesses. In fact, many large corporations
were started from a home including Apple and Disney.

Serial entrepreneurship- Many entrepreneurs get the most joy out of starting and building a business,
but not in its continued management, so they sell it to launch a new idea. they are still considered
entrepreneurs because they operate and assume risk in the business for the time they own it. Other
times, serial entrepreneurs juggle several businesses at once, earning multiple streams of income.

PROS OF ENTREPRENEURSHIP

*THE FREEDOM TO PURSUE YOUR OWN VISION


*POTENTIAL EARNINGS OF AN ENTREPRENEUR EXCEED A SALARIED EMPLOYEE
*THE CONTROL AND FLEXIBILITY OF YOUR OWN TIME.
*THE OPPORTUNITY TO LEARN AND GAIN KNOWLEDGE
*THE SENSE OF PRIDE AND FULFILLMENT IN ACCOMPLISHING THINGS
*THE CHANCE TO SHARE YOUR LEARNING

CONS OF ENTREPRENEURSHIP

*WORK SCHEDULE
*NO REGULAR SALARY
*ADMINISTRATIVE TASKS
*COMPETITION
*DISRUPTION OF ONES PERSONAL LIFE

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