Being an Entrepreneur
Learning Resources
Topic Review
1. About Entrepreneurs
a. Characteristics of successful entrepreneurs:
c. Entrepreneurs can be born or made
d. You should rate yourself on these factors to determine if entrepreneurship is for you
e. You are not your own boss; you should consider each customer, creditors, competitors and federal/state/local regulations your boss
2. Advantages to Being an Entrepreneur
a. Potential for financial independence
b. Can be your own boss
c. Can build a legacy that can be passed on to future generations
3. Disadvantages to Being an Entrepreneur
a. Long work days, especially at the beginning of the business
b. takes time away from family
c. personal expenses tend to increase (health insurance, payroll taxes)
d. increased financial risk
e. can be stressful
4. What Is Your Motivation And How Do Your Values Support Your Mission?
a. Make more money
b. Flexibility and Independence
c. Ability to do something you enjoy
d. Ability to take credit for accomplishments
Successful business owners are not motivated by doing the least amount of work
5. How Can You Take An Entrepreneurial Attitude Toward All Parts Of Your Life?
a. Characteristics of successful entrepreneurs:
- Self-confident and optimistic
- energetic and diligent
- able to take calculated risks
- creative and need to achieve
- respond positively to challenges
- dynamic leader
- flexible and able to adapt
- responsive to suggestions
- knowledgeable of markets
- take initiatives
- able to get along well with others
- resourceful and persevering
- independent minded
- perceptive with foresight
- versatile minded
- responsive to criticism
c. Entrepreneurs can be born or made
d. You should rate yourself on these factors to determine if entrepreneurship is for you
e. You are not your own boss; you should consider each customer, creditors, competitors and federal/state/local regulations your boss
2. Advantages to Being an Entrepreneur
a. Potential for financial independence
b. Can be your own boss
c. Can build a legacy that can be passed on to future generations
3. Disadvantages to Being an Entrepreneur
a. Long work days, especially at the beginning of the business
b. takes time away from family
c. personal expenses tend to increase (health insurance, payroll taxes)
d. increased financial risk
e. can be stressful
4. What Is Your Motivation And How Do Your Values Support Your Mission?
a. Make more money
b. Flexibility and Independence
c. Ability to do something you enjoy
d. Ability to take credit for accomplishments
Successful business owners are not motivated by doing the least amount of work
5. How Can You Take An Entrepreneurial Attitude Toward All Parts Of Your Life?