The World of the Entrepreneur
               The World of the Entrepreneur
           A new business is born every 11 seconds 
              A new business is born every 11 seconds 
              in the United States
              in the United States
           Study of influential Americans – the 
              Study of influential Americans – the 
                                                            st
                                                            st
              defining issue of the 21  Century: 
              defining issue of the 21  Century: 
              Entrepreneurship!
              Entrepreneurship!
           One of 12 Americans is actively involved 
              One of 12 Americans is actively involved 
              in trying to start a new business. 
              in trying to start a new business. 
   Chapter 1: Entrepreneurship           Copyright 2002 Prentice Hall Publishing Company                    2
          Entrepreneurial Activity Across the Globe
           Entrepreneurial Activity Across the Globe
                         Percentage of Adult Population Working to Start a New Business
          United States                                                       8.5%
              Canada                                              6.8%
               Israel                                   5.4%
         y      Italy                     3.4%
         r                               3.3%
         t Great Britain
         n
         u                        2.2%
         o   Germany
         C                      2.0%
             Denmark
              France           1.8%
               J apan        1.6%
              Finland       1.4%
                 0.0%          2.0%          4.0%          6.0%          8.0%         10.0%
                                                  Percent
                 What is an Entrepreneur?
                  What is an Entrepreneur?
        One who creates a new business in the face 
        One who creates a new business in the face 
           of risk and uncertainty for the purpose of 
            of risk and uncertainty for the purpose of 
           achieving profit and growth by 
            achieving profit and growth by 
           identifying opportunities and assembling 
            identifying opportunities and assembling 
           the necessary resources to capitalize on 
            the necessary resources to capitalize on 
           them.  
            them.  
  Chapter 1: Entrepreneurship     Copyright 2002 Prentice Hall Publishing Company         4
          Characteristics of Entrepreneurs
          Characteristics of Entrepreneurs
            Desire for responsibility
              Desire for responsibility
            Preference for moderate risk
              Preference for moderate risk
            Confidence in their ability to succeed
              Confidence in their ability to succeed
            Desire for immediate feedback
              Desire for immediate feedback
            High level of energy
              High level of energy
            Future orientation
              Future orientation
            Skilled at organizing
              Skilled at organizing
            Value achievement over money
              Value achievement over money
  Chapter 1: Entrepreneurship     Copyright 2002 Prentice Hall Publishing Company         5
                    The “Type E” Personality
                    The “Type E” Personality
             Common Traits of Entrepreneurs:
             Common Traits of Entrepreneurs:
               Aggressively pursues goals; pushes self and others
                 Aggressively pursues goals; pushes self and others
               Seeks autonomy, independence and freedom from boundaries
                 Seeks autonomy, independence and freedom from boundaries
               Sends consistent messages; very focused
                 Sends consistent messages; very focused
               Acts quickly, often without deliberating
                 Acts quickly, often without deliberating
               Keeps distance and maintains objectivity
                 Keeps distance and maintains objectivity
               Pursues simple, practical solutions
                 Pursues simple, practical solutions
               Willing to take risks; comfortable with uncertainty
                 Willing to take risks; comfortable with uncertainty
               Exhibits clear opinions and values; has high expectations
                 Exhibits clear opinions and values; has high expectations
               Impatient; “just do it” mentality
                 Impatient; “just do it” mentality
               Positive, upbeat, optimistic; communicates confidence
                 Positive, upbeat, optimistic; communicates confidence
  Chapter 1: Entrepreneurship     Copyright 2002 Prentice Hall Publishing Company         6