august 23, 2010 objective: students will learn about the entrepreneurial startup process
TRANSCRIPT
![Page 1: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/1.jpg)
AUGUST 23, 2010Objective: Students will learn about the entrepreneurial startup process.
![Page 2: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/2.jpg)
For Seniors:Pair up with a Senior and discuss:
The difference between a Good and a Service
What are the four Factors of Production?
What is Scarcity?What are the two parts to Demand?Elastic Goods versus Inelastic Goods
Everyone’s Back
![Page 3: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/3.jpg)
My website is working!!!
http://www.ops.org/high/burke/STAFF/FacultyNZ/NieburNichole/tabid/647/Default.aspx
![Page 4: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/4.jpg)
Surplus – Too much supply for demand Shortage – Too much demand for supply Equilibrium – The point where consumers
buy all of a product, leaving neither a surplus or a shortage.
Suppy
![Page 5: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/5.jpg)
The Entrepreneurial Process
1. The entrepreneur2. The environment3. The opportunity4. Start-up resources5. The new venture organization
![Page 6: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/6.jpg)
The Entrepreneur
Sees the opportunity Gathers the resources to take advantage
of the opportunity Creates a company to execute that
opportunity
![Page 7: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/7.jpg)
The Environment
All those variables NOT controlled by the entrepreneur
1. The nature of the environment (uncertain, fast, changing, stable, conservative…)
2. Availability of resources (skilled labor, start-up capital…)
3. Realized value (favorable taxes, good market, supportive government policies)
4. Incentives (enterprise zones)
![Page 8: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/8.jpg)
The Opportunity
An idea of commercial value
http://www.thesocialnetwork-movie.com/
![Page 9: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/9.jpg)
Start-up Resources
May include: Skilled labor Management Expertise Legal and financial advise Location Equipment Customers
![Page 10: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/10.jpg)
Organization
The last step in the entrepreneurial process is to formally organize the business and open for operations.
![Page 11: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/11.jpg)
How many new businesses fail? Talk to your neighbor… what percentage
of new businesses do you think fail within 10 years?
According to Dun & Bradstreet 69.7% of new businesses are still in business 10 years later.
![Page 12: AUGUST 23, 2010 Objective: Students will learn about the entrepreneurial startup process](https://reader030.vdocument.in/reader030/viewer/2022020106/56649f155503460f94c2ab99/html5/thumbnails/12.jpg)
Ways a Business May Look Like a Failure Discontinuance – a business operating under
a new name or a business that has been purposely discontinued to start a new one.
Organization change – example: switching from sole proprietorship to a corporation.