Developing Entrepreneurial Capability and Mindset for Kaffiene Coffee Shop

Developing
Entrepreneurial Capability
and Mindset

Table of Contents
INTRODUCTION...........................................................................................................................3
ASSESSMENT SUB-TASK 1........................................................................................................3
Reflective Discussion.......................................................................................................................3
What is entrepreneurship:............................................................................................................3
Issues of Entrepreneurship...........................................................................................................3
Entrepreneurial opportunity creation and recognition, or the new venture creation process......5
The entrepreneurial knowledge and skills...................................................................................6
ASSESSMENT SUB-TASK 2........................................................................................................6
Business Plan...................................................................................................................................6
Business Details...........................................................................................................................6
Market and Industry analysis.......................................................................................................7
Value Proposition and customer analysis....................................................................................8
Operations and management plan..............................................................................................10
Appreciation of financial issues.................................................................................................11
Reflective Log................................................................................................................................12
CONCLUSION..............................................................................................................................14
REFERENCES..............................................................................................................................15

INTRODUCTION
Entrepreneurship is referred as the act of establishing and operating with the
help of innovative and creative ideas which are helpful for achieving productivity I the
industry. It is considered as the ability and capability of an owner to manage the
functions of their business. The current assessment will explain a reflective discussion,
business plan and reflective log.
ASSESSMENT SUB-TASK 1
Reflective Discussion
What is entrepreneurship:
An entrepreneur is a person who runs its self business, taking most of the risk
and also enjoying the rewards. The procedure of settling up a business is known as the
entrepreneurship. The entrepreneur is generally seen as an innovator (Olanrewaju and
et.al 2020). A source of brand-new thoughts and goods, facilities, and business or
process few examples are: famous entrepreneurs is Bill Gates, Mark Zuckerberg, Steve
Jobs etc.
Issues of Entrepreneurship
Capital:
An individual who wants to start its own business requires monetary value but as
a new business owner facing difficulties in funding. There are several ways that can
help in managing small business funding (Pham, 2018). It can be done by lending
money from friend or family or to have a bank loan. Much experience businessperson
consider that self -fuel growing framework is the best and is less risky.
Right Business:
The main factor reasons behind the failures of new enterpriser is the inability of
choosing the correct business and doing it in the proper way. To achieve success in the
new enterprise task is that it requires excellent product or facility that adds value to the
buyer's life. Maintaining ethics and exactly giving the product that was promised
because if facing failure in doing it then it will result in the bad mouth publicity of the
business.
Too many Competitors :

Having to deal with contender in the same marketplace is very challenging to
survive. The only way to attract the buyers is to bring in something that is according to
trend or is new in the market. Customers get attracted by huge range of products and
variety of things.
Hiring Employees:
The hiring of candidates is very tough for the new entrepreneurs doing the recruitment
call and reviewing resumes and doing interview session etc. and even after that they
end up with the incompetent individual. I also faced many problems in hiring the
potential candidate in starting of my venture but after doing a proper research and
discussion i was able to hire right person.
Finding customers :
If the product or the facility that business is giving to people are adding value to
their life then there is no requirement to spend a big amount of fund in the promotion in
the starting level. Customers automatically will reach. Approach buyers that shows
interest in the product or service. I also faced issues in finding the new customers at the
starting of my venture but slowly customers started to show interest in my product and
service.
Finding Business Partner :
Searching for a trustworthy partner is of the most essential task that a new
entrepreneur needs to execute. An incorrect business partner will give a negative and
bad reputation and brand image. It is challenging to judge the partner initially but if it
shows any of the incorrect actions or intention break partnership immediately. As a new
entrepreneur I also had faced this issue and I took immediate action in dissolving the
partnership.
Entrepreneurial Personality Traits :
The trait theory holds that entrepreneurship formulated because the respective
called entrepreneur controlled to a definite particular taints or features and ability. Which
made them confident to creating new thought and creating a new venture.
Passion is feature of entrepreneurs while a good payday at the end of the day is
good for motivation, entrepreneurs tend to be more motivated by a passion for their
offering as well as by a feeling to make a difference (Mathews, 2018). This passion or