Young Enterprise Essay
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Richard Branson. Sir Allen Sugar. Sir John Harvey Jones. All of these men are successful entrepreneurs that began with a thought but ended with a million. How ever they had to become a successful entrepreneur they had to enterprise.
So what is enterprising? Well enterprising is a set of skills that a business man or women do that will earn him profits that he will take as his wages.
However enterprising is not that easy it requires a whole range of skills that will allow him or her to enterprise successfully.
The Skills required are E.N.T.E.R.P.R.I.S.I.N.G.:
Effort- Effort is important for enterprising. Before selling an item or making a sufficient deal you need to put some effort in. The amount of effort you put towards your deal will determine how much you get out of your deal.
Negotiable- Before selling both sides the seller and consumer have to meet at an agreeable price. You might want the price and the consumer might want it lower so therefore if you want to enterprise you need to negotiate.
Time management- A good entrepreneur always has track of time. To enterprise you need to be on time for your meetings and be proficient at moving from job to job. If you are not you will be looked down by the consumer and this may effect your status.
Enthusiasm- Enthusiasm is important for enterprising. If one of your team members are lacking in their job and have too much to do if you are enthusiastic then you can offer to help them. This will give you a challenge to do as well as being looked at for specific skills and qualities.
Risk- Risks are important in life and especially if you are going to enterprise. You need to take some risks without being nervous and manage them. You need to have courage because in most cases risks are the little things that make the money.
Performance- Performance is also key. Your performance will reflect on how successful you are. Performance is not only how much you achieve e.g. how much profit you have made. Performance is how determined you are to meet a target/ goal and how quickly you achieve it.
Responsibility- If you are going to be a successful entrepreneur then you need to be reliable and consistent. You will need to complete all of you responsibilities before you relax. If you can not handle your responsibility there is a high chance of you getting fired.
Intelligent- In business and enterprising you will need to be intelligent. You will need to be clever as you will be working with numbers. You will need to plan your project and think up the positive and negative sides to you plan. This can only be done by an intelligent worker.
Self motivated- if you are working as a team you are set a target. As a team member you need to motivate your team as well as your self to make you believe that you are able to achieve your target. If you do not then your team would not be determined and will perform poorly.
Independence- Independence is a key factor. Although you will have to work in groups you need to have independence. You will need to be able to work independently and not always with a team. Your independence will reflect you image as an entrepreneur.
Neuro Linguistic- Neuro linguistic is long complex words that mean communication skills. To become a successful entrepreneur you need to have good body language and communication skills. If you are in a meeting or putting across an idea you will need good communication skills to show that you are serious and look professionals.
Good ideas- If you are going to be enterprising you need to think of good ideas. You need to cover every aspect of detail before you put your idea forward.
QUALIFICATIONS AND ACHIEVMENTS
To become an entrepreneur you will need some achievements and academic qualifications. You will need a high standard level in maths and English in your GCSE’s. If you want a better chance then higher education will help such as:
Accountancy; this will shoe you profits and costs.
Economics; help you studies the economies around the world and stock market.
Business Studies; this will help you to manage and setup your on business successfully.
Also if you want a job it will be good to show:
Reference; to show your performance.
Experience; to show that you are capable and you have worked in a high pressured environment.
There are many successful entreoeuners in the U.K. However Richard Branson is one of many that have generally met the skills needed.
Richard Branson left school at the age of 16 and started a student Advisory Centre. At the age of the 20 he became independent and had a good idea of setting up a record retailer in Oxford Street called Virgin. On the way he started with nothing. However he was self- motivated and his effort for hunting down singers finally paid off. Eventually he signed Belinda Carlisle, Genesis, Phil Collins and Culture Club. His record company was becoming successful and there was more responsibility for Richard Branson.
After 12 years f successful enterprising Richard took his intelligence to the next level. After his great performance in virgin he took a major risk and in 1984 he opened Virgin Atlantic Airways which became the 2nd largest international airline service. This was an airline business which earned millions. Due to this he sold Virgin to EMI.
However from starting selling records Richard Branson now owns Virgin Coke, Vie make-up, Virgin Vodka, Virgin Insurance, Virgin Mobile phones (which he sold for 1 million pounds in 2006) and a Nigerian based airline called Virgin Nigeria. In 2007 Branson began flights from San Francisco airport called Virgin America. Now Virgin is worth $2.8 billion.
Richard Branson began with a though but ended with a couple of billion. He met most of the E.N.T.E.R.P.R.I.S.I.N.G criteria and now continues his multi billon dollar worth company.
WHY IS ENTERPRISING IMPORTANT
Enterprising is important to the UK’s economy. It helps the U.K socialise with other foreign countries. If there is a good deal then other countries would interact and involve the U.K with other business project which will make the U.K reflect a positive image to the world.