Challenges, Experience, and Goals Keys to Entrepreneurship.

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johanne-fluke
  • Slide 1
  • Challenges, Experience, and Goals Keys to Entrepreneurship
  • Slide 2
  • Challenges Young entrepreneurs encounter many challenges when starting a new venture. The greatest challenge facing young entrepreneurs is the lack of experience and knowledge they bring to a venture.
  • Slide 3
  • Challenges Young entrepreneurs are viewed with caution by more experienced businesspeople. Young entrepreneurs typically have no credit history, no collateral, and no track record of paying off debt.
  • Slide 4
  • Challenges Obtaining suitable financing often requires people to complete a great deal of administrative work, commonly called red tape. There are many business start-up programs available to help young entrepreneurs manoeuvre through the red tape. These programs are called Business Incubators.
  • Slide 5
  • Value of Experience Part time and summer work, volunteer opportunities, and school leadership positions offer young people opportunities to develop enterprising and entrepreneurial skills.
  • Slide 6
  • Value of Experience Working part time or full time in a related industry to your venture will give you the opportunity to:  Learn about the infrastructure  Develop a positive reputation in the industry  Build a network of contacts  Earn money you can save for the future  Learn firsthand about the industry
  • Slide 7
  • Setting Goals A goal is the purpose of your work. You might think of these small steps as steppingstones and milestones. Steppingstones can be achieved in a relatively short time. Milestones are significant events. Usually, a series of steppingstones.
  • Slide 8
  • Setting Goals Goals should always follow the SMART principle: ▫SIMPLE ▫MEASURABLE ▫ACHIEVABLE ▫REALISTIC ▫TIMELY
  • Slide 9
  • Setting Goals Simple ▫Goals should be stated simply and written down. ▫Your written list of goals serves as a reminder of where you are headed. Measurable ▫If your goal is measurable, then it is easy to tell if you have achieved it. Achievable and Realistic ▫Make sure you have the resources to achieve your stated objective. Goals should be challenging enough to require effort, but not too challenging that they are impossible.
  • Slide 10
  • Setting Goals Timely ▫Setting target dates for achieving your goals will help you get started and progress steadily.
  • Slide 11
  • Setting Goals In addition to being SMART, your goals must also be worthwhile. You need to ask yourself: “Is this achievement important to me?”. If the answer is yes, pursue it wholeheartedly. If the answer is no, take some time to reflect on why you’re pursuing it.
  • Slide 12
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    • Slide 1
  • Challenges, Experience, and Goals Keys to Entrepreneurship
  • Slide 2
  • Challenges Young entrepreneurs encounter many challenges when starting a new venture. The greatest challenge facing young entrepreneurs is the lack of experience and knowledge they bring to a venture.
  • Slide 3
  • Challenges Young entrepreneurs are viewed with caution by more experienced businesspeople. Young entrepreneurs typically have no credit history, no collateral, and no track record of paying off debt.
  • Slide 4
  • Challenges Obtaining suitable financing often requires people to complete a great deal of administrative work, commonly called red tape. There are many business start-up programs available to help young entrepreneurs manoeuvre through the red tape. These programs are called Business Incubators.
  • Slide 5
  • Value of Experience Part time and summer work, volunteer opportunities, and school leadership positions offer young people opportunities to develop enterprising and entrepreneurial skills.
  • Slide 6
  • Value of Experience Working part time or full time in a related industry to your venture will give you the opportunity to:  Learn about the infrastructure  Develop a positive reputation in the industry  Build a network of contacts  Earn money you can save for the future  Learn firsthand about the industry
  • Slide 7
  • Setting Goals A goal is the purpose of your work. You might think of these small steps as steppingstones and milestones. Steppingstones can be achieved in a relatively short time. Milestones are significant events. Usually, a series of steppingstones.
  • Slide 8
  • Setting Goals Goals should always follow the SMART principle: ▫SIMPLE ▫MEASURABLE ▫ACHIEVABLE ▫REALISTIC ▫TIMELY
  • Slide 9
  • Setting Goals Simple ▫Goals should be stated simply and written down. ▫Your written list of goals serves as a reminder of where you are headed. Measurable ▫If your goal is measurable, then it is easy to tell if you have achieved it. Achievable and Realistic ▫Make sure you have the resources to achieve your stated objective. Goals should be challenging enough to require effort, but not too challenging that they are impossible.
  • Slide 10
  • Setting Goals Timely ▫Setting target dates for achieving your goals will help you get started and progress steadily.
  • Slide 11
  • Setting Goals In addition to being SMART, your goals must also be worthwhile. You need to ask yourself: “Is this achievement important to me?”. If the answer is yes, pursue it wholeheartedly. If the answer is no, take some time to reflect on why you’re pursuing it.
  • Slide 12
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