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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.

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. 

By being passionate it was much more likely that he would gain the support he needed.

Lenders and other investors are going to be more supportive if they feel that the entrepreneur has a real commitment to their business idea.

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.