Assessment 1: Report on Analyzing an Entrepreneurial Mindset

This report provides a detailed analysis of Mark Pearson, an entrepreneur and investor, examining his entrepreneurial mindset through his various ventures, including Fuel Venture, Markco Media, and My Voucher Codes. The report explores Pearson's motivations, personal factors, and the support systems that influenced his entrepreneurial journey. It delves into his business approaches, problem-solving strategies, and decision-making processes, including how he transformed business ideas into reality and handled challenges. The analysis includes Pearson's perspective on entrepreneurial ideation, goal setting, business approaches, and the impact of economic conditions. The report also references structured interview questions and academic literature to provide a comprehensive understanding of Pearson's entrepreneurial characteristics and how they align with established concepts in the field of entrepreneurship. The report covers various themes, including motivational and personal factors, entrepreneurial ideation, problem-solving, business approaches, and support systems. The report also includes a detailed list of references.

Assessment

Contents
Introduction of Mark Pearson:.........................................................................................................3
Introduction of businesses:..............................................................................................................3
Themes explored:.............................................................................................................................5
Motivational and personal factors of entrepreneur:.....................................................................5
Support system:...............................................................................................................................7
REFERENCES................................................................................................................................8

Introduction of Mark Pearson:
Marks Pearson is an entrepreneur and investor of United kingdom based enterprise. He
founded the Marks Media and served the organisation as CEO. Person is an active investor as
well as an effective mentor. He was born in the 1980(Fuel venture.2021). At the age of 23,
Pearson started to Roses by designs that sold the rose with written message on them them he
learnt about the marketing concepts. He founded various marketing and advertisements
companies also.
Introduction of businesses:
Fuel venture:
Marks Pearson is the co-founder of Fuel venture which is founded in the December,
2013. It is basically an early stage e-commerce investment fund and start-up studio. The
organisation invited investors every day to contribute the fund through the various crowd
funding websites (Marks Pearson.2021). The organisation is co-founded by the Paul Rous, who
is an entrepreneur and ex- corporative financier who was working at Goldman Sachs previously.
A British player of tennis also invested in the company through Seedrs.
Markco Media:
Markco Media is the global web based marketing as well advertising company founded
in the year of 2006 by the Marks Pearson. The organisation is a leading discount networking
company of Europe. After the commencement of company, it launched various discount websites
in more than dozen countries across the world. In the year of 2014, Pearson sold the Markco
media to the respective public listed mobile payment firms.
My Voucher Codes:
My Voucher code is an online voucher code company which is founded in the 2006.
Marks Pearson has launched the company that headquarter is situated in the London, UK.
Initially the organisation delivered the messages that was printed upon the roses termed as a
Rose by design. After the organisation starts promotions of other company's products and

services. Initially Pearson paid amount to other to build websites then taught their employees to
develop the same.
Methodology:
Marks Pearson was interviewed. Some structured form questions were asked to the
entrepreneur that are related to his business (Almeida, F., 2017). Respective set of questions
developed on the bases of various concepts that are necessary to run business in effective
manner. These concepts are discussed below:
 Motivational as well as personal factors of entrepreneur.
 Entrepreneurial ideation
 Problem solving construction
 Business approaches
 Business support system
On the bases of these concepts questions were developed and directly asked to the entrepreneur.
These questions are following:
Structure question asked
1. When did you realise that you wanted to be an entrepreneur?
2. From which source you get the idea to start business?
3. How you transform the business idea into the reality?
4. What are the short and long term goals and objectives of your business?
5. How the business is developed in over the 5 years?
6. What is the difficult situation that you face during with your business?
7. How you handle these difficulties to run your business smoothly?
8. What approach would you use to take effective decisions?
9. Tell me about the difficult decision that you take quickly to solve the situation?
10. Was the decision being right for your business?
11. Which approach you adopt to measure the result of your business?
12. From which sources you find the funds for business?
13. How much time the business takes to get success after start up?
14. Did you get any kind of support from government?

15. What is the major issue related to the workforce to starting up and expanding the
business?
16. Do you think that your character and attitude help you to start business?
17. Can you describe about the skills that surely worked in business?
18. Do you have any family that support you and your business?
19. Which marketing strategies you apply in your business?
20. Which type of economic conditions are able to affect the business?
21. Which thing motivates you to carry the business continue?
22. Can you describe your personal skills that help to run business?
23. How you face all disappointment and failure situations?
Themes explored:
Motivational and personal factors of entrepreneur:
To understand the what make an entrepreneur, it is very important to access motivational
as well as personal factors effectively. These factors make entrepreneur motivate to run the
enterprise. Various ideas are outsourced by the inventors every day and in order to implement
these ideas in self-sustainable manner various concepts are being required. Motivational factors
enhance the working of entrepreneurs (Almeida, 2020). Marks Pearson have variety of personal
skills that make him an entrepreneur such is he is the person with positive attitude, time
management and able to take decisions in difficult situations. Many other qualities that are
discussed below:
 He has enough willingness to take risks and change them into the opportunities.
 Entrepreneur have ability to evaluate all factors and identify their values that other
entrepreneurs are failed to see, that provides the various competitive advantage to the
enterprise.
Pearson have the courage to admit his mistakes and always offers its supportive to seek their
supports (Artz, Guo, and Orazem, 2017). He takes responsibilities of failure as well as success of
people who are involve in the start-up of business.
 He has strong family support during the start up and in difficult situations.

From the interview of Marks Pearson, it seems that entrepreneurs are self-made and born with
these qualities. There are some factors such as positive attitude, nature and risk taking abilities
are internal, on the other hand the family connection is the external factor that have impact on it.
Entrepreneurial ideas:
The conception of respective business was created by the Marks Pearson after analysing
whole environmental factors of United Kingdom. Pearson evaluate various ideas at the time of
staring up the business and analysed all its factors and conditions, adopted the one which is quite
suitable for the organisation. As he states that formerly he conducted only own promotions and
for the expand of businesses he started to do promotions and advertisements of other companies
as well.
Pearson develop clear visions and missions for the smooth running and maintaining the
business in effective and efficient manner. He creates better understanding and transparency in
business activities that facilitates the business to sustain without facing any kind of conflicts with
each other (Herman, and Stefanescu, 2017). All the visions and missions are decided with the
active support of employees.
Problem solving:
Problem solving is the basic activity of an organisation. Marks Pearson states that his
businesses face various problems that are related to the economic inclusions, technology and
social development of society. He prefers to work with people and understand the problems and
analyse them in various perspectives and use effective strategies to solve these problems in
collaborative manner. As per the interview, it is concluded that the business face various
conflicts between the co-owners and directors that affect the businesses. To resolves these
problems, various interpersonal skills are developed and maintain aligns within organisations.
Goals setting and effective management is the ongoing process. The goals of
organisations over the next 5 years are to maintain sustainability of business by providing better
quality services and develop the depth of knowledge. It is very difficult for him to deal different
aspects. Pearson describe that he analyses all problems closely and then make proper decisions to
resolve them.
Business approaches:

Business approaches are the key concepts on the behalf on them the organisation
completes overall activities of organisation. Pearson believed in slow and steady growth is much
batter then the fast run. He adopts various approaches in order to handle all companies. He stated
that when the company grow at very fast rate, there are additional requirements are being raised
that raises various complications too (Srivastava, Satsangi, and Satsangee, 2019). It is identified
that traditional marketing is not appropriate for his business as the business serves its services to
niche customers. So the business development plan is depending upon the various networking
factors. In the context of business, Pearson revealed that he adopts quite suitable approach for the
companies that enhance the customers trust on organization and that make it able to achieve all
goals and objectives. He states that his company develop differentiate products from their
competitors and improve customer’s services. He included various technological factors in
process to take technological advantages and sustain in the competitive market.
Support system:
During the interview, Pearson discussed that he has strong support system that helped
him not only in the started up the business but also provided him enough motivation to continue
the business activities (Zhang, and Cain, 2017). He mentioned that he had emotional support
from his friends and family members that helped him to be stable, confident and motivated to
take decisions in difficult situations. Support system make it easy for the organisation run the
business in defined manner.
From the point of view of financial support, he states that he had no financial support for
government and from his grants. Various private funding options were being adopted by him to
run the business. When his business was not able to pay overheads then his family members
supported his business.

REFERENCES
Books and Journals
Almeida, F., 2017. Learning entrepreneurship with serious games-a classroom approach. arXiv
preprint arXiv:1710.04118.
Almeida, F., 2020. Assessing the Development of Entrepreneurial Competencies. Technology
transfer: innovative solutions in Social Sciences and Humanities. 3. pp.65-67.
Artz, G. M., Guo, Z. and Orazem, P. F., 2017. Entrepreneurial Skills in Thick and Thin Markets.
Herman, E. and Stefanescu, D., 2017. Can higher education stimulate entrepreneurial intentions
among engineering and business students?. Educational Studies. 43(3). pp.312-327.
Srivastava, S., Satsangi, K. and Satsangee, N., 2019. Identification of entrepreneurial education
contents using nominal group technique. Education+ training.
Zhang, P. and Cain, K. W., 2017. Reassessing the link between risk aversion and entrepreneurial
intention. International Journal of Entrepreneurial Behavior & Research.
online
Fuel venture.2021. [Online] Available through <https://www.crunchbase.com/organization/fuel-
ventures-fund>
Marks Pearson.2021. [Online] Available through <https://www.entrepreneur.com/author/mark-
pearson>
(Almeida, F., 2017)
(Almeida, 2020)
(Artz, Guo, and Orazem, 2017)
(Herman, and Stefanescu, 2017)
(Srivastava, Satsangi, and Satsangee, 2019)
(Zhang, and Cain, 2017)