Transcript Starting a small business

Starting a small
business
Unit 17
Lesson Objectives
• Understand entrepreneur skills
• Analyses how skills can be developed to
improve a business
What is an
Entrepreneur?
Do you recognise any?
Card Sort Activity
Match the entrepreneur skills to
their description
Entrepreneur Skills
• Self-confidence - a self-belief and passion
about your product or service - your enthusiasm
should win people over to your ideas.
• Self-determination - a belief that the outcome
of events is down to your own actions, rather
than based on external factors or other people's
actions.
• Being a self-starter - the ability to take the
initiative, work independently and to develop
your ideas.
Entrepreneur Skills
• Judgement - the ability to be open-minded
when listening to other people's advice, while
bearing in mind your objectives for the business.
• Commitment - the willingness to make personal
sacrifices through long hours and loss of leisure
time.
• Perseverance - the ability to continue despite
setbacks, financial insecurity and exposure to
risk.
• Initiative - the ability to be resourceful and
proactive, rather than adopting a passive "wait
and see" approach.
Kirsty Henshaw
www.bbc.co.uk/dragonsden
Watch Kirsty Henshaw deliver her pitch to
the dragons. Can you identify any of the
skills above?
Use your cards to identify which skills you think Kirsty
demonstrates
Your task
Pass
• You are now going to think about the skills
that you have and need to run your
business and how you can improve them
over time.
Merit (working towards)
• Its important for the merit task that you
explain practical things that you could do
maybe in your spare time to develop skills.
Fill in the table!!
• Pick four of the skills we have looked at in todays lesson
– Some that you think you already have and some that
you know you need to improve.
• You will need to complete the descriptions of each in your
own words and explain how the skills will help you run
your business.
• Finally rate yourself on each skill and then explain what
you could do to improve the skill and how this will help
you and your business
Fill in the table based on you and your business
idea.
Lesson Objectives
• Understand entrepreneur skills
• Analyses how skills can be developed to
improve a business
Skills audits and Quiz's
• You are now going to complete a series of
small quiz’s to identify what skills you have
and which you are good at and which you
need to improve.
• As you complete each quiz you will need
to complete a small write up.
Are you an Entrepreneur?
Entrepreneur's Quiz from IBIS
The results
Score 180: You and your group are too perfect! Get someone else to
analyse your strengths and weaknesses
Score 110-178: You and your group have the mix of the right qualities
to become and entrepreneur. But remember that this is only the start of
a long and difficult journey.
Score 82-110: You have many of the right qualities to become an
entrepreneur, but there are gaps which need strengthening. Think
about building a team to help you achieve the balance of attitudes and
skills that you need in an effective business.
Score 36- 80: Becoming an entrepreneur is probably not for you. Sit
back and think about the demands that it will place upon you and your
family
Your Task – Part 1
•
•
In your introduction explain that you have
completed an entrepreneur skills audit.
– Insert a copy of the test in your work
Write a summary of the skills that you have
identified and the feedback given as a result of
the test.
Entrepreneur Skills Audit
Entrepreneur Skills Audit
The results
“If your score is over 100, you are a good
candidate to consider entrepreneurship as a
career. But here's the surprise: if you scored
less than 100, you may also be a good
candidate. Remember, there is no set
formula for who can and cannot be a
successful business owner. The purpose of
this quiz is to help you explore your interests
and abilities for future entrepreneurship.”
Your task – Part 2
• Insert a copy of the quiz
• What feedback did the quiz give you?
• What does this tell you about how you
might have to improve in order to run your
business successfully?
Now do the second part of the quiz
Your task - Part 3
• If your score is 70 or over, you already have
many of the key skills needed to be a successful
entrepreneur.
• If your score is 6 or less on any skill, you can
chose to work to improve in that area. With
determination, you can develop all of the skills
necessary to be a successful business owner.
• Explain how you could improve on four of the
skills you scored less than 6 on.
Analyse the
development needed to
run the business
successfully
M2
Next Task – Merit
• Identify skills that need further
development prior to the business launch
• Understanding what can be done to
improve these skills
Personal Development Plan
• If you were to your business you would
certainly need to undertake further
personal development.
• Look at the list of skills below and analyse
which three you need to develop further.
• State how you could develop it further
– Training?
– Work Experience?
– Course?
Entrepreneur Skills
• Able to plan
effectively
• Good Verbal
Communication
• Necessary writing
skills
• Necessary reading
skills
• Positive achiever
• Good at selling a
product
• Relate well with
others
• Able to manage
resources
• Team-builder
• Strong leadership
ability
Analyse
• Analyse means to explain why… and build a chain of
argument…
Example - Able to manage resources
Being able to manage resources is important in business, it means you
can manage staff, stock and communication effectively. I would need to
do this in my business to make sure I always have enough stock and
every body knows what they are doing at all times. I have limited
experience of this skill although I am good at
managing my school life effectively. To develop
this further I could get some work experience
over the summer holidays to develop these
skills. This will mean I am ready for the launch
of my business idea in….
Advantages and
Disadvantages of Methods
Training Course
• Can be expensive and
time consuming
• Can give you the
qualifications you need
• You may learn better on a
training course
• Is there a training course
available for your needs?
• When will you fit it in? parttime, full-time, distant
learning course?
Work Experience
• You can get this prior to
the launch of the business
• This will give you fist hand
experience
• Can you find somewhere
to get the experience?
(Will they really want you
sealing ideas?)
• Inexpensive
You can use other methods to develop your skills but you must discuss the
advantages and disadvantages of each method.
Your Task – Personal
Development
Pick three areas of development. For each area answer the
following:
• Describe the skill and explain how important it is to you and your
business (What would happen to you and your business without it?)
• Explain what you can do to develop this skill further. Be specific on
what you are going to do i.e. training – Can you find a course, training
program or potential work experience placement using Google to
include in your work?
• What are the advantages and disadvantages of the method you have
chosen to develop your still?
• Describe the time frame you intend to set to develop the skill. How
long will it take and when you intend to do it? Before you launch the
business or during?
Use the example above to help you
Well Done!