Pertemuan I

MATA KULIAH ENTERPRENEURSHIP

Pengusaha: Kekuatan
Pendorong di Balik
Bisnis Kecil
 The World of
the
Entrepreneur
 In the U.S., entrepreneurs start more
than 6 million businesses a year!
 Global Entrepreneurship Monitor (GEM)
 Approximately 8% of the U.S. population is
actively involved in entrepreneurial activity
 Nearly 11% of people in 49 GEM countries
studied are involved in starting a new
business

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Chapter 1 Copyright ©2012 Pearson Education, Inc. publishing as Prentice Hall 1-
 What is an
Entrepreneur?
One who creates a new business in the
face of risk and uncertainty for the
purpose of achieving profit and growth
by identifying opportunities and
assembling the necessary resources to
capitalize on them

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 What is an Entrepreneur?

An entrepreneur is someone who is

willing to work 16 hours a day to
keep from working 8 hours a day for
someone else!

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 Characteristics
of Entrepreneurs
Survey: 61% of adults in the U.S. would
like to start their own business
 Willingness to take initiative
 Preference for moderate risk
 Confidence in their ability to succeed
 Independence
 Determination
 Desire for immediate feedback

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 Characteristics
of Entrepreneurs
 High level of energy
 Competitiveness
 Future orientation
 Serial entrepreneurs
 Skilled at organizing
 Value achievement
over money

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 Entrepreneurship
 One characteristic of entrepreneurs
stands out:
Diversity!
 Anyone – regardless of age, race,
gender, color, national origin, or any
other characteristic – can become an
entrepreneur (although not everyone
should)

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 How to Spot
Entrepreneurial
Opportunities
 Creativity vs. Innovation
 Creativity– the ability to develop
new ideas and to discover new
ways of looking at problems and
opportunities
 Innovation – the ability to apply
creative solutions to problems and
opportunities to enhance or to
enrich people’s lives

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 How to Spot
Entrepreneurial
Opportunities
 Monitor trends and exploit them early on
 Sonic Mule
 Takea different approach to an existing
market
 Poo Poo Paper Company
 Put a new twist on an old idea
 Green Grass at Last

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 How to Spot
Entrepreneurial
Opportunities
 Look for creative ways to use existing
resources
 Greenfields Coal
 Realizethat others have the same problem
that you do
 SkirtSports
 Notice what is missing
 Dogs on Wheels

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 Benefits of Small
Business Ownership
The opportunity to:
 Control your own destiny
 Make a difference
 Social entrepreneurs
 Reach your full potential
 Reap impressive profits
 Contribute to society and to be recognized
for your efforts
 Do what you enjoy and to have fun at it
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 Drawbacks of Small
Business Ownership
 Uncertainty of income
 Risk of losing your entire investment
 Long hours and hard work

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 Small Business Owners' Work Week
Number of Hours Worked per Week
1 to 39 hours
More than 70 hours 10%
20%

40 to 49 hours
29%

60 to 69 hours
19%

50 to 59 hours
22%

Average workweek = 54 hours

Source: MasterCard Global Small Business Survey, 2007.

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 Drawbacks of Small
Business
Ownership
 Uncertainty of income
 Riskof losing your entire investment
 Long hours and hard work
 Lower quality of life until the business gets
established

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 Owner Age at Business Formation

33.5%
35.0 3 1.1%
%
30.0
%
17.8%
25.0
%
9.8%
20.0 6.1%
%
1.7%

15.0
%
Under 25 25-34 35- 45- 55- 65
10.0 44 54 64 +
Age
%
Source: National Federation of Independent Businesses and Wells Fargo Bank,
2002.
5.0
%
0.0
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 Drawbacks of Small
Business Ownership
 Uncertainty of income
 Risk of losing your entire investment
 Long hours and hard work
 Lower quality of life until the business gets
established
 High levels of stress
 Complete responsibility
 Discouragement

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 Feeding the
Entrepreneurial Fire
 Entrepreneurs as heroes
 Entrepreneurial education
 Demographic and economic
factors
 Shift to a service economy
 Technological advancements
 Outsourcing
 Independent lifestyles
 E-Commerce and the World Wide Web
 International opportunities

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 The Cultural
Diversity of
Entrepreneurship
 Young entrepreneurs

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 Entrepreneurial Activity by Age Group

Source: Kauffman Foundation, Kauffman Index of Entrepreneurial Activity, 1996-2009.

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 The Cultural Diversity
of Entrepreneurship
 Young
entrepreneurs
 Women entrepreneurs

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 Entrepreneurial Activity by Gender

Source: 2008 Kauffman Index of Entrepreneurial Activity.

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 The Cultural Diversity
of Entrepreneurship
 Young entrepreneurs
 Women entrepreneurs
 Minority-owned enterprises

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 Minority Business Ownership in
the United States
90
80
70
60
50 East
40 Wes
30 t
Nort
20
h
10
0
1st Qt r 2nd Qt 3rd Qt 4t h Qt
r r r
Source: based on Minorities in Business: A Demographic Review of
Small Business Ownership, Small Business Administration, Office of
Advocacy, April 2007.

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 The Cultural
Diversity of
Entrepreneurship
 Young entrepreneurs
 Women entrepreneurs
 Minority-owned
enterprises
 Immigrant entrepreneurs
 Part-time entrepreneurs

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 The Cultural Diversity
of Entrepreneurship
 Home-based business
owners
 Family business owners
 Copreneurs
 Corporate castoffs
 Corporate dropouts
 Retired Baby Boomers

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 Small Business by Industry

Source: Small Business Administration,

2009.

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 Small Businesses...
 Make up 99.7% of all the 29.3 million
businesses in the U.S.
 Employ 50.2% of the nation’s private
sector workforce
 Pay 45% of total private payroll
 Create more jobs than big businesses
 SBA estimates they create 79% of all net new jobs
in the U.S.

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 Small
Businesses...
 Areleaders in offering training and
advancement opportunities to workers
 Provide 67% of workers with their first jobs
 Produce 51% of the nation’s private GDP
 Account for 47% of business sales
 Key role in innovation:
 Produce 13 times more patents per
employees than large companies

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 Small Business Survival Rate

100%
100%
90%
% of Small Firms Surviving

81%
80%
70% 65%
60% 54%
50% 46%
40%
40% 36%
32% 29%
30% 27% 25%
20%
10%
0%
New 1 2 3 4 5 6 7 8 9 10
# of Years in Busines
Source: National Federation of Independent Businesses Business Policy Guide,
2003.

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 Putting Failure
into Perspective
 About 54% of new companies fail
within 4 years
 Entrepreneurs are not paralyzed by
the prospect of failure
 Failure – a natural part of the creative
process
 Successful entrepreneurs learn to fail
intelligently

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 Avoiding the Pitfalls of
Small Business Failure
Know your business in depth
Prepare a business plan
Manage financial resources
Understand financial
statements

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 Avoiding the Pitfalls of
Small Business Failure
Learn to manage people effectively
Set your business apart from the
competition
Maintain a Positive Attitude

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