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Assessing Self Employment Skills for Success
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