 Prep - Get Started |
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So you want to become an entrepreneur? Do you even know what an entrepreneur is? An entrepreneur (ahn' tra pra nur) is "a person who organizes and manages a business undertaking, assuming the risk for the sake of profit." In other words, entrepreneurs create businesses. They’re pioneers, explorers, and inventors — all rolled into one.
Generally, successful entrepreneurs have the following traits:
- They are risk takers.
- They show determination.
- They believe they will succeed.
- They have confidence in their own ability.
- They display energy.
- They keep going, no matter what.
- They can manage money.
- They will find ways around obstacles.
What are the advantages and disadvantages of becoming an entrepreneur? Below are examples given by students.
| Advantages |
Disadvantages |
- Being your own boss/Independence,
- Satisfaction,
- Monetary rewards, if successful,
- Pride/self esteem,
- Living a dream.
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- Risky (monetarily, emotionally),
- Lose your money and investors’ money,
- Financial insecurity,
- Pressure as final decision maker.
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Can you think of any others?
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10 tips on starting a successful business
Why wait to start a business? Harness the power of your youth and start a business immediately. It's not as hard as you may think.
Here are a few tips to get you started…
- Identify your passion or interests.
- Educate yourself on that idea.
- Determine if there is a market for your product or service.
- Know your target market.
- Develop a good Business Plan.
- Analyze the competition.
- Get a Business Mentor.
- Raise money for start-up funds.
- Develop an entrepreneurial mindset.
Deciding on what type of business to start? Think about your neighborhood, your daily lives, school, etc. and fill in the blanks.
I wish I could just pay someone to ____________.
I wish they made something that would ________.
I wish I had a place to go that I could __________.
I wish we had a ___________ closer to my house.
I am skilled at ________________.
I am talented at _______________.
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