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Assessing Self Employment Skills for Success

Assessing Self Employment Skills for Success. Assessing Self Employment Skills for Success. Lesson Goals: For current and potential business owners to: Identify personal and business skills Examine business ideas and interests Assess entrepreneurial and management skills

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Assessing Self Employment Skills for Success

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  1. Assessing Self Employment Skills for Success

  2. Assessing Self Employment Skills for Success Lesson Goals: • For current and potential business owners to: • Identify personal and business skills • Examine business ideas and interests • Assess entrepreneurial and management skills • Learn how to succeed in home-based or micro businesses

  3. Assessing Self Employment Skills for Success Three Types of Skills Needed to Run a Business

  4. Assessing Self Employment Skills for Success Assessing the Advantages & Disadvantages of Launching a Home-Based or Micro Business

  5. Assessing Self Employment Skills for Success Advantages of Home-Based or Micro Business

  6. Assessing Self Employment Skills for Success Advantages of Home-Based or Micro Business • Seeking and setting personal goals • Having more control over one’s life • Increasing personal fulfillment • Having control over the quality of work • Working independently of supervision • Enhancing creativity • Controlling working conditions • Remaining in a community or moving with spouse to a new community when jobs are scarce or not available • Reducing commuting problems • Meeting family obligations while generating income • Working flexible hours • Reducing overhead cost • Testing a business idea with a minimum of financial risk

  7. Assessing Self Employment Skills for Success Disadvantages of Home-Based or Micro Business

  8. Assessing Self Employment Skills for Success Disadvantages of a Home-Based or Micro Business • Need to know a lot of information • Financial risk • Conflict in ownership of time • Lack of guaranteed employee fringe benefits • Many competing roles and responsibilities • Lack of job security • May require long, hard hours • Zoning laws • Lack of a “business” address • Home is no longer a refuge from the work place • No opportunity to escape home environment • Loss of social and business contacts, feedback, ideas • Household distractions • Family members and friends • Family conflicts can arise • Work discipline • Insurance Coverage and Liability

  9. Assessing Self Employment Skills for Success Choosing a Business Type Product-Oriented Service-Oriented • Self-made • Manufactured

  10. Assessing Self Employment Skills for Success Determining or Confirming a Business Idea Points to Consider Favorite recreational activities Job(s) enjoyed the most Hobbies Community work enjoyed Environment preferred Indoors or outdoors City or rural area Personal goals • Age • Years of education or training • Favorite school subjects • Types of informal education • Current and/or previous jobs and duties • Reason for leaving each job

  11. Assessing Self Employment Skills for Success Rate Yourself – Are You Ready to Start a Business?

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