controlled assessment

Entrepreneurial skills/qualities

  • Planning: Good planning in a business allows more of a chance of success. Having other plans if the first doesn’t succeed is a good quality to have as it usually means you’re organised and have something to fall back on if it fails, allowing more success.
  • Initiative: Having initiative allows you to have common sense of what should come next, if something fails you can usually understand what should come next, learning from what has changed.
  • Taking risks: Taking risks is usually a good quality to have as it means you’re open to trying new things that could advance your business. Sometimes a risk could result in a bad outcome, leaving risk taking as debatable. Taking risks can allow you to fill gaps in the market.
  • Determination: Determination is a good skill to have as it will allow the entrepreneur to carry on and try everything possible to succeed.
  • Creativity: creativity is an important skill because it allows you to be unique with your ideas and think of things un-heard of before, maybe increasing profit.
  • problem solving: Problem solving is an important skill as it allows you to use your own mind to solve complex or easy problems and hurdles for your business.
  • Punctuality: punctuality in a business is key, it allows your customer/audience etc, to see that you are totally on board with your business and helps build a reputation. No-one wants to turn up late for a potential business deal.
  • Team work: team work is a necessary skill when running a business as if you can’t work in a team, no company is going to want to employ you.

 

Entrepreneurs and enterprises: 

Small businesses and enterprises are important to the UK as they meet local needs. Common enterprises are hair-dressers, butchers, child-minders/baby-sitters, dog-groomers, bakers, plumbers, etc… entrepreneurial

2 thirds of businesses are run and owned by one person and 90% are run by less than 6. 2.5 millions workers are self employed.

Interview questions:

1.) Full Name? Jemma Hurst

2.) Age? 29

3.)Name of business or trade your business specializes in? Mobile hairdressing

4.) How long have you owned this business/been doing this trade? Jemma has been hairdressing for 6 or so years

5.)What made you start this business/trade? She says ‘It’s a good qualification to have, people are always going to need their hair cut’

6.) How did you plan to start? ‘I planned to start just cutting family and friend’s hair, but now I’ve branched out and end up doing friend’s family or friends etc..’

7.)What did you plan to do if it failed? ‘There wasn’t really a back up plan, if it failed, it failed. I still would have gained a new skill and gone to work somewhere else.’

8.) What would you say is your strongest skill as an entrepreneur? (list skills)

9.) If you have failed, what has made you continue and get where you are today? ‘I haven’t really failed, people have always come to me for their haircut, regardless whether that be 4 people a month or a dozen a week, I’ve always had hair to cut.’

10.) Is it just you, or do you collaborate with others? and if so, how does that work out? ‘Sometimes if there’s a lot to do, I’ll split the work with my sister, also trained, and we’ll take turns babysitting etc..’

11.) What risks have you taken during your business or trade, and how have the planned out?

12.) Do you do anything creative to entice new people to try your business or trade? (publicity etc…) ‘Usually I just use word of mouth, I have a lot of  social connections, so if I’m free I may advertise that I’m free to do haircuts and work that way.’

 

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