Chapter 1 presentation 2
1. One way you can gain the sense of what a particular business is like is by taking an internship.Similar to an internship, an apprenticeship is where technical skills or a trade is taught (plumbing, electrical, carpentry)Both are usually short-term and may or may not be paying positions. 2. Make Your Own Rules Do What You Enjoy The majority of your life you work, why not do what you enjoy?Creating Greater Wealth Schedule, where you work, and how you get paidEmployees only make what employer is willing to pay. As an entrepreneur, you can work for what you want.Helping Your Community Being an entrepreneur allows you to create jobs, provide services, and personal satisfaction from helping the community. 3. Potential Business Failure Unexpected Obstacles Unstable Economy, Decreased Demand, Employees.Financial Insecurity Time and money that you invest may not ever pay off.Many new business may not make money in the beginning and you may not be able to pay yourself. Income is always variable.Long Hours & Hard Work A successful business may lead you away from your friends and family. 4. Thomas Edison Began the Weekly Herald.Owned over 1000 patents.PT Barnum Was 60 years old when his circus staged its first show. The circus generated over $400,000 in the first year.Became known as the Greatest Show On EarthInvented the Phonograph 5. William Harley & Arthur Davidson Developed Harley Davidson motorcycles.One of only two businesses to survive the great depression.Worlds largest producer of motorcycles grossing $41 million annually.Maggie Lena Walker Was a staunch advocate of human rights, selfsufficiency, and improving race relations.First woman to charter a bank in the United States.St. Luke's Penny Savings Bank (Consolidated Bank & Trust Company) began in 1903 6. Ingvar Kamprad From SwedenStephen Wozniak & Steve JobsFounder of IKEA furniture company.One of the ten wealthiest people in the world.In 1976 began a company with a goal of bringing personal computers to peoples homes.Total investment of Apple at the beginning was only $1,300. 7. Russell SimmonsTodays EntrepreneursTurned his passion for hip-hop into a venture that is now worth millions.Most companies today use the internet in some form of business.Def Jam Records launched a cultural revolution in our country in terms of music, fashion, film, television, and social attraction.Green Companies a company that adopts business practices aimed at protecting and improving the environment.