Entrepreneurs Gaining enterprise skills and knowledge Success Criteria

Entrepreneurs Gaining enterprise skills and knowledge

Success Criteria By the end of this topic you will be able to: q Define the term Entrepreneur q Describe some of the traits and skills of an Entrepreneur q Carry out research on an entrpreneur of your choice and identify their skills q Consider how the enterpreneur turns an ide into a business

Watch the Video What is an entrepreneur? A person who sees a business opportunity and takes it. A person who has a business idea A person who takes risks and invests their own money. A person who is assertive and decisive.

Skills and Qualities Watch the BBC Clip Make a list of all the skills that are mentioned in the clip Identify which of those skills you possess

Teenage Entrepreneurs Could you be an entrepreneur? Try the quiz

1. Are you self-motivated? a. If someone gets me started on something, I can keep going and get the job done. (2 points) b. I like to do things my own way and come up with my own ideas about how to accomplish things. (3 points) c. I prefer not to overdo it. I really don't like putting myself out unless it is really necessary. (1 points) 2. Are you a leader? a. I usually let people lead themselves. (1 points) b. I can get people to do things but it's pretty difficult. (2 points) c. Most people go along with my ideas without too much difficulty. (3 points) 3. How organized are you? a. I like to make plans before I start something, and I stick to my plan until it's done. (3 points) b. I just take things as they come. I don't like to stifle my possibilities with too many plans. (1 points) c. If things don't go according to my plan, I take this as a sign…"it wasn't meant to be". (2 points)

4. How do you feel about people? a. Most people drive me crazy. (1 points) b. I have enough friends. I make new ones only when necessary. (2 points) c. I really enjoy people and get along with them very well. (3 points) 5. Are you a good worker? a. I can work hard and push through until the goal is accomplished. I don't mind working hard. (3 points) b. I will work hard if I know it will pay off right away. (2 points) c. I prefer not to overdo it. I am very creative about coming up with ways to avoid hard work. (1 points) 6. Can you make decisions? a. I want time to make up my mind. I like to check things out with my friends first. (2 points) b. I like to make my own decisions good or bad, I am willing to put up with the consequences. (3 points) c. I would rather have others make the decisions. What if I make a mistake? (1 points)

7. Can people trust you? a. I try to avoid hurting people's feelings and say what I think they want to hear. (2 points) b. I tend to say things in a straightforward way, even if other people may not agree with me. (3 points) c. I really don't care if people trust me. I do and say what I want. (1 points) 8. Can you "stick" with something? a. I usually finish what I start. (2 points) b. If something goes wrong or I find it too difficult, I don't fight it. (1 points) c. If I set a goal and make up my mind to do something, nothing stops me. (3 points) 9. Do you take responsibility? a. I like to take charge and see things through. (3 points) b. I'll take over if I have to but I prefer to let someone else be responsible (2 points) c. There's always a bossy person around. Let them do it. (1 points) 10. Are records important to you? a. I understand the importance of records but they stifle my creativity. (2 points) b. Records are critical to help me measure my success. (3 points) c. I keep records in my head and I can figure it out as I go. (1 points)

So…do you have what it takes? (25 - 30) You have very strong entrepreneurial characteristics. Find out what you love to do and become the best at it. You have what it takes to become a successful entrepreneur. . . belief in yourself! (15 - 24) If you truly have a desire to be an entrepreneur and you scored in this range, determine your weaknesses and overcome them. Remember, learning to do something well builds confidence. (10 – 14) You may want to consider working in a position where you are more secure and comfortable. The risks and commitment level required of an entrepreneur may be difficult for you at this time. However never give up - if you want to become more entrepreneurial, set yourselves some goals and go after them.

Scottish Entrepreneurs Fraser Doherty aged 19 – Business called Super Jam sells to large supermarkets Michelle Mone – Ultimo Bras sells direct on Internet Sir Tom Hunter – owned and sold Sports Division has £ 250 m fortune

Scottish Entrepreneurs Sir Tom Farmer – owned and sold Kwik Fit to Ford for £ 1. 2 bn Duncan Bannatyne – Dragon’s Den – owns Health Clubs and Care Homes. The most wealthiest Dragon by far Link to BBC CEO Secrets for different clips from entrepreneurs

Dragon’s Den Watch the Dragon’s Den clip What skills does this entrepreneur demonstrate

Research and Present Task • Decide on an entrepreneur that you are interested in finding out more about Find out: Some background information (where are they from, date of birth, education etc) How they started out (first business idea, was it a success, how was it funded) How the business developed and other areas they went in to What their business is worth now Any failures or set backs they have had in the past The entrepreneurial skills and qualities they have demonstrated Present your findings in Sway, Power. Point or in a poster and email it to your teacher

Ideas Duncan Bannatyne Arnold Clark Michelle Mone Josh Littlejohn Victoria Beckham James Dyson Alan Sugar Mike Ashley Mark Zuckerberg Elon Musk

Research Ensure that information is correct and up to date Remember to use trusted sources

I have a good business idea! ……what now? I need finance, I could speak to the bank I need advice, I could speak to the Princes Trust I need support, I could speak to Business Gateway

Read all the infomration on the Bitesize page and complete the test at the end BBC Bitesize

Questions – Email answers to your teacher 1. What is an Entrepreneur? 2. List 3 important decisions that you would expect to make as an entrepreneur before you start up your business. 3. An entrepreneur needs a Business Idea and Money to start up a Business, what else would they need? 4. Where could someone go for support when setting up in business? 5. Outline 3 skills or qualities that an entrprenuer would need.