Entrepreneurs in AmericaEntrepreneurs in America

Running You Own Business, Making Your Own Products

UEQ and LEQUEQ and LEQUEQ: How has a market economy

evolved in the U.S.?

LEQ: What is an entrepreneur and why are they important in the business world today?

VocabularyVocabularyEntrepreneurRiskFactors of ProductionCharacteristicsStart Up

Then…

Now

Steve Jobs: Owner of Apple, Next, I-Pod, and Pixar Animation

Oprah Winfrey: Owner of the Oprah Winfrey Show, all girls school in Africa

Bill Gates: Owner of Microsoft

Walt Disney: Creator, Owner, and Founder of Mickey Mouse, MGM studios, all Disney Characters, and Walt Disney World

Michael Dell: Owner of Dell Computer

Hugh Hefner: Editor, Founder, and Owner of Playboy and Playboy Magazine

Read Aloud Warm UpRead Aloud Warm UpWho owns most businesses? What

makes them so special to own a business?

Read over one of the articles on Michael Dell, Steve Jobs, or Bill Gates.

Fill in the Biographies Outline on the life of the person.

What did you find out?What do they have in common? Anything in common with you?

What’s in Common?What’s in Common?

Characteristics of an Characteristics of an EntrepreneurEntrepreneurWhat defines an entrepreneur and makes

him or her stand out from all others?

Characteristics Group Characteristics Group workworkIn assigned groups, you will determine

what makes a person an entrepreneur.Each group member is to read one of the

entrepreneur profiles to themselves. After everyone is done reading talk about each person and determine what characteristics made that person so unique.

Using the poster paper, markers, and group discussion think of as many characteristics as possible that make a person an entrepreneur.

Write down the characteristics and draw a picture within the personal outline to represent each characteristic.

Entrepreneur Group Entrepreneur Group PosterPosterTitle Poster: Entrepreneur

CharacteristicsOutside Body: Names of entrepreneurs

group read about, characteristics that made them successful.◦Also: other characteristics important for a

person to become an entrepreneur. Inside: Drawn pictures that represent

the different characteristics of an entrepreneur. Each picture represents a characteristic.

Entrepreneurial Entrepreneurial CharacteristicsCharacteristics Joyful Serious Planner Manager Questioner Good Memory Positive Attitude Risk Taker Controlled/Confident Expert Competitor Investor Great Reputation Involved Attentive Organized Hard Working

The Perfect EntrepreneurThe Perfect EntrepreneurUsing what you learned from the group

work and the online lesson, fill out the Perfect Entrepreneur handout.

Outside of the human outline, write down the most important characteristics that you think a person should have. (Put down as many as you can think of that are important)

On the back, write down 4 positives and 4 negatives of being a business owner.

EconEdLink Entrepreneur EconEdLink Entrepreneur LessonLessonGrab a Laptop, Log on to the Internet and

type in www.econedlink.comClick on search and in the keyword box type

in “what makes a entrepreneur” and change the subject box to economics.

Click on search and click on the appropriate activity.

In the blue teacher version box click on the link to go the student version page.

Read over the lesson, complete Activity 1, do the beginning of Activity 2 by getting the definition of an entrepreneur.

Answer questions 1 and 6 of activity 2.

What is An EntrepreneurWhat is An EntrepreneurEntrepreneur: person who starts a business.

◦Beginning: has idea for a new product, new way of making something, or a new service.

◦End: Raises money to purchase land, labor, and capital to start business and make product.

Your ideas are different from everyone else's, an entrepreneur always stands out from the rest of the crowd.

Land, Labor, CapitalLand, Labor, CapitalTo start a business, an

entrepreneur needs to get a pay for land, labor, and capital.

Land: RentLabor: WagesCapital: Interest

ProblemProblemAll entrepreneurs take risks.Risk: uncertainty of outcome

(anything can happen)◦Usually the only worker in the beginning.◦Pay for everything in the beginning.◦If business fails, lose everything.

RewardRewardBy taking risk an entrepreneur gains

great reward.◦Gain profit (number one reason why

people start a business)◦Make own decisions◦Control Company◦Own boss

Are You One?Are You One?Will you become another American

entrepreneur and start a business?Find Out

◦Grab a Laptop, log on to the Internet. ◦Follow the directions and complete the

“Becoming an Entrepreneur” worksheet.◦Are you one??? Do you have the

characteristics???

Do You Take Risks?Do You Take Risks?When it is necessary, will you take a risk

or play it safe? Especially with money?Log on to the InternetGo to Google and type in “Risk Quiz”

◦Read over the brief introduction and click on “Quiz” on the left side to start.

◦Read the 20 questions and see if you take risks.