Professional Capability Assessment

Professional Capability Assessment

Assessment 3:

Student Name: Linh Nguyen

Student Code: 00331871T

Subject: Entrepreneurship (ENT101)

Submitted to: Kelly Rothschild

I/ Introduction about myself

 

Understanding Entrepreneurship

People who own, operate and take risks with the business venture

Entrepreneurship is the process of running a business of one’s own.

Entrepreneurs try to identify the need of the marketplace to meet those needs by supplying services and products

Entrepreneurs assume risks.

II/ Characteristics of Successful Entrepreneurs

Recall personal characteristics and skills needed for a successful entrepreneur:

Responsibility

Determination and Perservation

Drive to achieve

Persistent problem solving

Risk-taking

Vision

Opportunity Orientation

Passion and Patience

Seeking feedback

Tolerance of ambiguity

Examples of Successful Entrepreneurs I admire

Ben Francis

 

Ben Francis: From a delivering pizza to CEO of Gymshark- a billion empire

Quote: “When you start a business you need to have a really clear vision as to where the business should be. I had to grab the business by the scruff of the neck and drag it to where I needed it to be,”

Ben Francis has shared his tips to become a successful entrepreneur.

Passionate, ambitious, determination

Always seek out critics, and solve the problems

Learn to trust people and build a great team

Learn from failures and mistakes

 

Ben Francis’s tweet about failures.

Elon Musk- CEO of Tesla and Space X.

 

What do I learn from Elon Musk’s sharing tips as a Billionaire entrepreneur?

1. “Failure is an option here. If things are not failing, you are not innovating enough.”

2. “Persistence is very important. You should not give up unless you are forced to give up.”

3. “Constantly seek criticism. A well thought out critique of what you’re doing is as valuable as gold.”

III/ Reflection on my strengths and weaknesses.

 

Strengths:

Willingness to learn and improve

Patience

Understanding what I am good at

Problem-solving

Flexible

Weaknesses:

Lack of empathy sometimes

Always try to satisfy others

Not trusting people at work

Stubborn

Have some false core beliefs

My Gallup Result

 

IV/ 4 Keys Areas I Need to Improve

Lacking of Empathy

Disadvantages:

Poor connection with others

Causing conflicts in relationships.

Lacking for helping behaviors

How to develop empathy:

Observe: Spend time noticing what other people are doing and think about the emotions or thoughts that might be driving those actions. How would you feel if you were in the same situation

More listening in conversations: In addition to actively listening to what people are saying, pay attention to other cues that can tell you what people are feeling such as tone of voice, facial expressions, and body language.

Learning identifying emotions in conversation: Feeling empathy for others involves allowing yourself to feel what other people are feeling. This means allowing yourself to be open and vulnerable.

Reminding yourself constantly to be open minded in any conversation: Allowing yourself to connect with others

Self-Confidence

Why I develop lower self-confidence sometimes?

Even though I understand my ability, and weaknesses, I always want to improve and and seek for perfection. That’s the reason why I feel sad or disapointed at myself if I am not as good as others.

Tips to build my confidence I learn throughout lessons:

Journaling daily and small goals that I want to achieve in a day.

Write down my strengths and how to enhance my qualities.

Remind myself that everyone has their strengths and weaknesses. Therefore, I should always focus on myself to evolve.

Plan out my day: I find it important to start small happiness and priorities daily.

Surround myself with positive people.

Communication

Communication skills is always a good skill to develop so that I can improve better relationships, and work more efficiently. I strongly believe that communication is the key for career success.

Tips to develop communication skills:

Listen, listen, and listen

Be brief, yet specific

Slow down my thoughts before I speak or write emails.

Maintain a positive attitude and smile in any circumstances.

Be straightforward but aware of how to present your ideas.

Attempt to solve the problems, not winning the conversation for the ego.

And Remember:

Entrepreneurs must have a variety of abilities, both personal and professional, in order to flourish. People who choose to be entrepreneurs must have a certain awareness of themselves, particularly who they are and how they operate best, because starting or running any form of business needs devotion and a lot of labour. An entrepreneur must have sufficient organisational or management abilities to transform a concept into a viable firm.