What makes a good Entrepreneur?

Strengths: I am good at keeping calm in difficult situations. Keeping calm is important when running a business, things may go wrong and you may be in some bad predicaments, but it is always vital to be calm. I have shown my skills of being calm when working as a sales assistant in 3; as a sales assistant in a mobile phone shop there will be a lot of people coming in angry with complaints about, or even wanting to send their phones to the repairs, when these situations happen it is always essential to keep calm because the customer is always write in a business. Also if you are not calm when a customer comes in and they are angry, it could affect the business as the customer would not recommend the shop, or they would not come back and it is always good to have loyal customers. Good attendance:

I will always be where I need to be, if I said I am going to attend or if I am supposed to attend I will always be present, because I do not like to miss vital information or miss out and the catch up later. I’d rather primary information than secondary information, because I understand more when heard from the person explaining.

Good personality:

I am always positive, and happy if I am at work I never have a dull attitude I do what I have to do and I enjoy what I do, I do not do anything that I do not think I will enjoy. I do all I have to, to the best of my ability’s; never half hearted. Customers love me because I love to get to know new people, working in a phone job it is important to get to know the customer so you can provide them with a phone that will suite them best. I’m always smiling, do not hold grudges and can never be angry for long time. I think this would make me a good entrepreneur because whatever I am hit with I never dwell on it I get up and move on The ability to work as part of a team as well as on my own

Weakness: Organisation

I am not very good at organisation; I do not plan ahead before time or keep things that I think I may need in the future. I need to work on keeping all important documents together so when I need them it is not hard to find, also I need to be able to plan ahead, set myself a plan or a time table so that I can do things systematically then doing things all jumbled up and not remembering what I have to do and what I have done. Punctuality

My punctuality is not as good as my attendance, I always make sure I’m there but sometimes due to my bad organisation I will end up running late because I have not organised, what I needed for the morning, the night before. I am good and at estimating what time I need to leave to get to somewhere on time.

Management skills

I have not git much management skills, I am able to lead a group however I do not think I am advanced or organised enough to manage a whole team. As managing a whole need is a lot or balancing responsibility, with I would need more experience to do.

I.T skills

I also need more experience and more training in IT Skills, ask they are good but nor excellent, it is good to have I.T skills as the worlds technology is advancing and soon everything will be electrical, so if my skills are very good now, I can be learning as technology advances, so that I will not be extremely behind. Opportunities for development: Asking for help

Asking for help could help me quite a lot because I have a lot of people around me at all times, so asking for help with all the things I am bad at could hopefully, teach me how to do things better and get me into a routine. Writing things down

Also for development I could begin to write things down more in a diary, and then I can remember things more and know where things are. When writing things down it makes everything more efficient and you will always have evidence to go back to and show specific dates. As an entrepreneur it good to remember dates when you started a new idea, what day your new stock arrives etc.

Training

To improve my management and I.T skills I will need some training and experience, as I.T skills you have to learn because there is a lot to computing, and technology is improving, so it is ggod to be update with I.T skills. Also as I am going to be running my own business I need to learn how to manage a larger group of people, larger amount of money and documents. Mentor

A mentor will be a lot of help, someone who is older than me that can give me some tips on how to run a and manage a business, someone that can support you and teach you what to do and what not to do, as they have had experience and training to do this.

Threats-
New technology
As technology is advancing all the time, and to stay up to date with all the necessary technology, a lot of money needs to be spent, even starting up the business I would need to buy a lot of technology, such as computers for the tills, CCTV cameras, TV screens and iPads for attraction and marketing.

Competition

Another threat is my competition, big stores worldwide such as JD Sport, Footlocker and Schuh as they are much bigger stores and more known to the public, those places will be the first choice, however our store will appeal to more unique individuals.

Recession
A recession is a very big threat because if there is a recession, then the prices will have to go up and the customers will find it difficult to do some shopping, employers could even demand a higher salary due to prices of everything else going out.

Personal development plan
Skills:
The ability to do a certain task well, something that is learnt to perfection with a lot of practice. Attributes:
A quality, property or characteristics of somebody or something, it is not something you gain. Skills I need to manage my business properly
Type of skill
Why is this relevant to the business?
Are you competent in this skill? Yes/No Explain why?
How can I intend to develop this skill
Good CommunicationGood communication is very important in a business, as you will need to speak to the customers, to find out what they like and need when doing market research. When a business has good customer services customers all feel likely obligated to come back because the get treated so well, better that our competition, communication skills is not only essential with consumers but also with the staff, good communication with your staff will make the business flow very well; a staff will be more confidence in what they do because there has been an established understanding, Yes

More experience can develop these skills, more contact with customers in a work place will defiantly enhance my communication skills Presenting Skills

The ability to present an idea to a group of people is very important it can take you from a small business to a worldwide business so it is important not on to have good presenting skills but to have good persuasive skills also. Yes

Management Skills

Management skills are relevant in a business, are I am going to be the manager of the business I need to be able to run he business to success. I also need to know how to organise a business, hire people and make the right decisions and when he wrong decisions are made how to recover and get better. No, because I have never been a manager, hover I have been a team leader so I just need more training and experience. Training, Experience and Mentoring, all these things will help me to become a better manger. Book-keeping and accountancy

This is relevant to run my business, as I need to keep track of everything that is going on in the business, so that there is always evidence, also accounting skills are relevant just to make sure that everything is running well in the business and not relying on an accountant, which is a lot of cash loss, and even if an account is hired it is always good to double check.

No, as I am not used to book keeping, also I have only just started an accounting course and need more knowledge in that subject. Read more financial books, and get used to writing things down in a diary all the time.

Attributes I need to manage my business properly
Type of attribute
Why is this relevant to the business?
Are you competent in this attribute? Yes/No Explain why?
How can I intend to develop this attribute
Good personality

A good personality is one of my best attributes I have a positive attitude in everything I do, I am never negative is anything that I do, never accept failure and never give up, do everything to the best of my ability. Yes

Always keep a positive mind and always keep organised, do not let things overload, pile up and stress out

Commitment

This is important because it is never good to give up, always give 100% in running a business, and give all time and dedication to make it work. Give everything you need to make it work, if it fails try again, have a lot of persistence and put in a lot of hard work, to make your business successful. Yes

Balancing Responsibilities

Being able to do this will keep the business running smoothly and keeping everything on track, balancing responsibilities I will be able to have a personal life away from my career life and be able to care of them both and not one more attention than the other. No, because I’m not very good a balancing my priorities Lean to meet deadlines and know when it’s time to work and play.

Confidence

It is important to be confident when running a business, as drastic decisions need to be made and if there is no confidence the decisions will not be made. Confidence is needed to present well and to make changes in the business, No, I am not used to standing up in front of big crowds

Do more training in leadership, and aim for higher roles such as class president or vice president.