Business Plan

6

If you could please name your document according to the instructions, Last Name first. It helps me keep my files organized in the same way as the marking spreadsheets and the grade book.

Assignment 1a: Entrepreneurial Self-Assessment

Yu (Jones), Li

IHMN 440

Jason Ripley

March 21, 2021

Royal Roads University

Introduction and Overview

My scores for motivations, aptitude, and attitudes are all below the average for entrepreneurs. However, the numbers are above the minimum score for entrepreneurs, which indicates a positive achievement. My score for the need for achievement is halfway the maximum score for entrepreneurs indicating that I am not very good at setting clear objectives and seeking feedback on my performance. The level of competitiveness with self is low. My score for power or control appeal is also half the maximum for entrepreneurs. My desire to lead, influence, organize, and coordinate with others is not very strong. The scores for ambition and self-sufficiency are also half the maximum for entrepreneurs but less than the average. The scores indicate that I have little desire to take on difficult projects or achieve my dreams. Besides, I have a lower tendency to feel in control or be my own boss. I rarely make decisions independently but consults and considers the opinions of other people.

The scores for perseverance, enthusiasm, creativity, and resistance to stress are also below the average for entrepreneurs. However, they are closer to the maximum scores than to the minimum. The results indicate some level of tenacity, self-esteem, tolerance, and creativity. The attitude scores are also below the average but are closer to the maximum scores than the minimum scores for entrepreneurs.

	Motivations	Aptitudes	Attitudes
	Need for achievement	Power appeal	Ambition	Freedom	Determination	Enthusiasm	Tolerance	Creativity	Perception	Action-oriented
Score	10	11	11	8	10	11	17	8	19	14

I like that you have included a table outlining your scores, it would be helpful if you also included the minimum, average and maximum scores so there was some context, and this is a little difficult to read in this format. Perhaps creating the table in excel and then converting it to pdf or jpg and inserting it, or maybe work with the column widths a bit to make sure the text is readable?

Analysis

Motivations

My overall score for motivation is way below the average of successful entrepreneurs, closer to the minimum score than the maximum. The things that induce behavior and action in me have a smaller influence. While these things are there in me, they are not strong enough to significantly influence my motivation. My need for achievement or success scored 10, half of the maximum score for the successful entrepreneur. The score indicates some level of competitiveness and a desire to perform, excel or perform. However, the desire is on a lower scale than that needed to achieve maximum success. The score for control appeal is also 10, exactly half of the maximum for successful entrepreneurs. A control appeal makes one interested in coordinating and organizing resources, hence exercise leadership (Khan and Marzuki, 2020). However, the quality can also arouse a desire for admiration and public acclamation, which may negatively affect their leadership. Ambition has a score of 11, slightly more than half the maximum score for successful entrepreneurs but still below the average score.

Ambition is a positive quality that challenges one to achieve and raises the need to learn. The score for freedom is 8, half of the maximum for the successful entrepreneur. The freedom to make decisions and personal choices while setting their own constraints is important for entrepreneurs (Haikal et al., 2019). However, there is a need for control in freedom since successful entrepreneurs must be willing to learn from others. I would want to improve on the need to achieve through an increased desire to make progress and proper planning. Therefore, I will make it a habit to develop objectives and keep evaluating my progress in light of the objectives. The plan will help me identify shortcomings and gaps so that I may improve on them. Ok, this sounds like a valuable goal to have, but it’s perhaps not specific enough. What exactly is your goal? It’s difficult to measure “making a habit to develop objectives”. Instead you could say I will create a timeline to completion for all of my projects this semester. This way, you will be able to tell if you are achieving your goals.

Aptitudes

An aptitude score of 56 against the maximum score of 80 for successful entrepreneurs is a weak score, though way above the entrepreneur minimum. The score suggests significant inclinations, abilities, and competencies predisposing me to be an entrepreneur. I am good at self-confidence, which creates a sense of value for myself and optimism about my intrinsic ability to achieve. I am also good at creativity which is important in creating solutions to problems. I need to improve on perseverance and tolerance to stress. Perseverance will help me endure hardship, go through failure positively and bounce back from failures successfully. Tolerance, like perseverance, will help me get through failures and difficulties strongly. I will improve my tolerance by beginning to take ambiguous situations positively and treating them as opportunities to learn and change. Besides, entrepreneurship is usually full of uncertainties that may cause anxiety and stress (Haikal et al., 2019). The entrepreneur requires the ability to manage those uncertainties while shielding from anxiety. Again, the goal sounds good, but difficult to measure, especially in a timely fashion.

Attitudes

Attitudes include our feelings and perceptions over something, which largely influence our judgments and decisions. Entrepreneurs are decisive and care a lot about how they judge things. My score of 33 in this area is quite encouraging, though below the average score for successful entrepreneurs. My strength here lies mainly upon my perception to act upon my future and destiny with a score of 19, one point below the average for entrepreneurs.

Conclusion

My scores are generally below the average scores of successful entrepreneurs. Although they are not badly off and are almost balanced, there is still room, opportunity, and need for improvement. The issues should be improved in order to ensure a successful entrepreneurial spirit. The improvements require the passionate involvement of an individual and cooperation between the individual and the successful entrepreneurs. Different entrepreneurs have different strengths, some excelling in aptitude, others in attitude, while others excel in motivations. However, it is prudent to work on weaker areas to ensure non is left far behind. Remember that the average scores are what already successful entrepreneurs typically get. So being slightly below the average for someone who has never been a business owner is significant. With education and experience I have no doubt you will find these scores higher were you to do this again in several years. For now focus on your short term goals. Make sure they are Specific, Measurable, Achievable, Relevant and Timely.

Overall Presentation: 1.4

Self Assessment: 1.7/1.7/1.7

Mechanics: .7

Total: 7.2/10

References

Haikal, F., Putri, E., & Usman, O. (2019). Influence Motivation of Entrepreneurs, Self-Efficacy, Skills Heritage, Attitude and Personality against Interest of Business. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.3314792.

Khan, Y., & Marzuki, S. (2020). Youth Entrepreneurs Characteristic and Motivation. International Journal of Psychosocial Rehabilitation, 24(03), 944-961. https://doi.org/10.37200/ijpr/v24i3/pr200845.

Kerzner business use