Fri Oct 5: Skills needed to become an Entrepreneur

 Do you have what it takes to Become an Entrepreneur

• Entrepreneurship can be quite rewarding, but also comes with several unique risks.
• To mitigate the risk of financial loss or failure, it serves a business owner to have a certain set of skills.
• A great entrepreneur must be able to effectively communicate, sell, focus, learn, and strategize.
• An ability to continuously learn is not just a key entrepreneurial skill but also a very valuable life skill.
• Growing a business requires a sound strategy based on inherent business sense and skills.

Intro to Entrepreneurship

A definition: 

• Entrepreneurship is the process of designing, launching and running a  business.
• "Capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit."
  
  
• Entrepreneurship is the process of developing, organizing, and running a new business to generate profit while taking on financial risk. In a broader sense, entrepreneurship is the process of transforming the status quo by solving the most pressing problems and pain points in our society, often by introducing an innovative product or service or creating new markets.

Common traits of entrepreneurs

• Enjoy freedom and flexibility
• Are inventive
• Are goal orientated and ambitious
• Think creatively
• Are fearless
• Problem solvers
• High self initiative
• Understand basic finance principles

Bobby Hundreds

Introduction

Bobby Hundreds is one of the two founders of The Hundreds founded in 2003. Also known as Bobby Kim, he met his co-founder Ben Shenassafar  while at law school. Kim graduated from UC San Diego before going onto Loyola Law School, finishing at the top of his class.

Link to the Hundreds website: The Hundreds

PART 1: Watch the video in class and then answer the following:

List and explain 5 qualities that Bobby Hundreds has that makes him a great entrepreneur.

Example: He did what he was passionate about. For example he decided to give up being a lawyer to pursue his dream of developing a streetwear company.