business project

Business Studies

Bilqees Miller
Gardens Commercial High School
Grade: 11CM

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Table of Contents
INTRODUCTION....................................................................................................... 2
QUALITIES AND SKILLS ENTREPRENEURS OR MANAGERS MUST POSSESS FOR A
BUSINESS’ SUCCESS................................................................................................ 2
5 KEY SUCCESS FACTORS FOR A SUCCESSFUL BUSINESS...........................................2
COURAGE..................................................................................................................................... 2
FOCUS......................................................................................................................................... 2
AGILITY........................................................................................................................................ 2
WILLINGNESS TO LISTEN.................................................................................................................. 3
SELF-DISCIPLINE............................................................................................................................ 3
IMPORTANCE OF PRESENTING BUSINESS INFORMATION............................................4
TYPES OF FUNDING AND WHY BUSINESSES NEED FUNDING.......................................4
ASPECTS TO CONSIDER WHEN PRESENTING..............................................................4

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Qualities and skills
Introduction
In my research report, I am going to explain the importance of possessing entrepreneurial
skills when starting a business. I am going to prove how unemployment factors affect the
success rates of businesses, and how entrepreneurs can help with unemployment issues.

Qualities and skills entrepreneurs or managers must

possess for a business’ success
When starting a business, it's very important to convert and have the necessary qualities
and skills required in order for your start-up to flourish.
An important quality to posses is self-discipline. You would require significant time and
money, (example: money can be available through loans) to get off the ground,
therefore making time management important.
Many start-ups deal with failure and setback with resilience, but failure is an important
factor in success. It teaches you to try again but from a different perspective, ultimately
improving your businesses success.
Along with many other qualities and skills, as a start-up business, you must be able to
network with others, to connect. This allows the users to expand their reach and find
potential clients and partners.

5 Key success factors for a successful business

Wanting your business to succeed is a big goal to set, but to get your foot in through the
doors of success, you need to know the 5 keys factors that contribute to success.

Courage
Some of the world’s most successful businesses were founded on shoestring budgets in
people’s garages, example: YouTube and Google. To be successful, don’t wait for
opportunities to come knocking on the door, instead open the door for yourself. Having
confidence is the greatest success.

Focus
One of the largest setbacks for start-ups would be the lack of focus. Losing focus the vison
and mission of your business could cause the business to decrease, failing both you, and
everyone.

Agility
Discover what makes your business unique, by outsourcing management and focussing on
what can enhance the competitiveness of the business. In a highly competitive
environment, today, it’s important to remain agile to market trends and new innovation, to
stay one step ahead. Encourage innovation thinking and problem-solving ideas from staff

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and clients, don’t be afraid to adapt your strategy in response to learning and development.
Be stubborn about achieving your goals and flexible to setbacks.

Willingness to listen
“Great people make a great business”. In order to achieve a certain level of success, smart
entrepreneurs surround themselves with great talent. They are more than appreciative and
willing to listen to what others have to say and be guided by their expertise. The willingness
to listen not only gives you a good first impression to others, but shows them what your
business is all about. When people see a leader or person of importance take pride in their
work and value the opinions of others and actually listen, they are more likely to support
that business and help it grow. “Successful leaders learn from the success and failures of
others”.

Self-discipline
Entrepreneurship is incredibly rewarding, though it does however demand a run for your
money. Working long hours, giving it your all, all the time, and still being able to build your
client base and ensuring your operations go smoothly is incredibly exhausting, but the
success of your business depends on how much effort you are willing to put in, so don’t be
discouraged. As long as you know what you want for your business and what you need,
such as having self-discipline that can help avoid procrastination sessions when doing
difficult task, you can glide through it all by stabilizing your health and calling you down in
stressful situations.

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Presentation
Importance of presenting business information
Presenting business information is a critical element for a variety of reasons. Its
effectives in areas such as clarity, decision making, and etc. Below I have listed
and explained the value in each of these elements:

 Clarity & Understanding

The clarity of the message is extremely important to the success of the
presentation. Most entrepreneurs have an overwhelming amount of
information about their topic, making it a bit difficult to comprehend. To
prevent customers from being confused and not understanding the user-
manual level of detail for their product, make sure the presentation helps
in conveying complex information clearly, aiding understanding among
stakeholders.
 Informed decision-making
Having a well- presented data analysis allows stakeholders to make
strategic decisions based on facts, leading to better outcomes.
 Cut to the jargon/Persuasions
The audiences need to be aware of the benefits of the product and what
problems the product will solve for them. Engaging presentations capture
the audience's attention, increasing the likelihood of information retention.
This means that the audience is more likely to be persuaded if they are
fully engaged in what you are saying. Remember: They don’t want or
need the highly technical details, rather just enough to take the next step.

When presenting information to an audience, make sure that you are confident,
well-dressed and know what you’re talking about. This tells the audiences that
you are stating facts and not guessing, making them more likely to invest into
what you are presenting.

Types of funding and why businesses need funding

Importance of funding
There are many reasons why funding is important for businesses. When it comes
to capital, its very crucial to understand how much capital you need and what
you need it for.

Below is a list of reasons for funding with explanations:

 Purchasing Assets
As business, you require assets to help it grow. One of the main reasons
for business funding Just about any business requires assets to help it

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 grow. One of the main reasons for business funding is to invest in assets
that are necessary for the business. This could include things like vehicles,
machinery, IT equipment, or any other kind of asset that is required for
the business to operate.
 Working capital
 Start-up Costs
 Growth Funding
 Research and Development
 Investing in Property

Aspects to consider when presenting

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