Assessing Self Employment Skills for Success. Three Types of Skills Needed to Run a Business Entrepreneurial Management Technical SLIDE 1.

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Presentation transcript:

Assessing Self Employment Skills for Success

Three Types of Skills Needed to Run a Business Entrepreneurial Management Technical SLIDE 1

Advantages of Home-Based or Micro Business Assessing Self Employment Skills for Success SLIDE 2

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 Assessing Self Employment Skills for Success SLIDE 3

Advantages of Home-Based or Micro Business 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 Assessing Self Employment Skills for Success SLIDE 4

Additional Advantages of Home-Based Business Reducing commuting problems Meeting family obligations while generating income Working flexible hours Assessing Self Employment Skills for Success SLIDE 5

Additional Advantages of Home-Based Business Reducing overhead cost Testing a business idea with a minimum of financial risk Limiting need for a special wardrobe Assessing Self Employment Skills for Success SLIDE 6

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

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 Assessing Self Employment Skills for Success SLIDE 8

Disadvantages of a Home-Based or Micro Business Many competing roles and responsibilities Lack of job security May require long, hard hours Assessing Self Employment Skills for Success SLIDE 9

Additional Disadvantages of Home-Based Business Zoning laws Lack of a “business” address Home is no longer a refuge from the work place No opportunity to escape home environment Assessing Self Employment Skills for Success SLIDE 10

Additional Disadvantages of Home-Based Business Loss of social and business contacts, feedback, ideas Household distractions May not present a business or professional image Assessing Self Employment Skills for Success SLIDE 11

Additional Disadvantages of Home-Based Business Family members and friends Family conflicts can arise Work discipline Insurance Coverage and Liability Assessing Self Employment Skills for Success SLIDE 12

Choosing a Business Type Product-Oriented –Self-made –Manufactured Service-Oriented Assessing Self Employment Skills for Success SLIDE 13

Determining or Confirming a Business Idea Points to Consider Age Years of education or training Favorite school subjects Assessing Self Employment Skills for Success SLIDE 14

Determining or Confirming a Business Idea Points to Consider Types of informal education Current and/or previous jobs and duties Reason for leaving each job Assessing Self Employment Skills for Success SLIDE 15

Determining or Confirming a Business Idea Points to Consider Job(s) enjoyed the most Favorite recreational activities Hobbies Assessing Self Employment Skills for Success SLIDE 16

Determining or Confirming a Business Idea Points to Consider Community work enjoyed Environment preferred –Indoors or outdoors –City or rural area Personal goals Assessing Self Employment Skills for Success SLIDE 17

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