Chapter 6

BECOMING AN ENTREPRENEUR

•Entrepreneur-someone who takes a risk in starting a business to earn a profit

•Entrepreneurship-process of starting, organizing, managing and assuming

Personal Characteristics of Successful Entrepreneurs

Entrepreneurs are more They have

Presistent Problem-solving skills

Inquisitive Tolerance for ambiguity

Energentic Strong integrity

Goal Oriented Personal initiative

Independent Ability to secure resources

Self-Confident Capability to learn from failure

Creative Willingness to work hard

Reliable

Competitive

•Venture capital-money provided by large investors to finance

•Innovation-invention or creation that is brand new

•Improvement-a designed change that increase the usefulness of a product, service or process.