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Sunday, 8 September 2019

A/S Business Studies Homework 1 Feedback

‘Assess whether it was Levi Roots passion and enthusiasm which convinced the Dragons' that he would be a successful entrepreneur’.



Always start with a definition.

'An entrepreneur is someone who is willing to take risks in starting a new business, usually with the aim of making a profit.'

Your answer needs to be two sided and always in the context of the case study - in this case Levi Roots.

So.....

An entrepreneur should be passionate about their business idea.
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Levi was clearly passionate as he had written a song about the brand and he had made his sauce, together with his family, for a number of years. He also talked in a way that showed his real enthusiasm for the product. This is important because he needed financial and other support in developing his business. 
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By being passionate it was much more likely that he would gain the support he needed.
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Lenders and other investors are going to be more supportive if they feel that the entrepreneur has a real commitment to their business idea.
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By being passionate and communicating a real enthusiasm for his product Levi will be in a much stronger position than someone who has difficulty explaining a potential business idea.

'On the other hand' other entrepreneurial skills are useful:

An entrepreneur such as Levi needs to be creative.
Can you add four arrows?
Final paragraph: Which is the most important point?

Why?

Here you are demonstrating evaluation.