Assessing Self Employment Skills for Success
Assessing Self Employment Skills for Success
Lesson Goals:
• For current and potential business owners to:
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Identify personal and business skills
Examine business ideas and interests
Assess entrepreneurial and management skills
Learn how to succeed in home-based or micro
businesses
Assessing Self Employment Skills for Success
Three Types of Skills Needed to Run a Business
Entrepreneurial
Management
Technical
Assessing Self Employment Skills for Success
Assessing the Advantages & Disadvantages of
Launching a Home-Based or Micro Business
Assessing Self Employment Skills for Success
Advantages of Home-Based or
Micro Business
Assessing Self Employment Skills for Success
Advantages of Home-Based or Micro Business
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Seeking and setting personal
goals
Having more control over one’s
life
Increasing personal fulfillment
Having control over the quality of
work
Working independently of
supervision
Enhancing creativity
Controlling working conditions
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Remaining in a community or
moving with spouse to a new
community when jobs are scarce
or not available
Reducing commuting problems
Meeting family obligations while
generating income
Working flexible hours
Reducing overhead cost
Testing a business idea with a
minimum of financial risk
Assessing Self Employment Skills for Success
Disadvantages of Home-Based or
Micro Business
Assessing Self Employment Skills for Success
Disadvantages of a Home-Based or Micro Business
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Need to know a lot of information
Financial risk
Conflict in ownership of time
Lack of guaranteed employee
fringe benefits
Many competing roles and
responsibilities
Lack of job security
May require long, hard hours
Zoning laws
Lack of a “business” address
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Home is no longer a refuge from
the work place
No opportunity to escape home
environment
Loss of social and business
contacts, feedback, ideas
Household distractions
Family members and friends
Family conflicts can arise
Work discipline
Insurance Coverage and Liability
Assessing Self Employment Skills for Success
Choosing a Business Type
Product-Oriented
– Self-made
– Manufactured
Service-Oriented
Assessing Self Employment Skills for Success
Determining or Confirming a Business Idea
Points to Consider
• Age
• Years of education or
training
• Favorite school subjects
• Types of informal education
• Current and/or previous jobs
and duties
• Reason for leaving each job
• Favorite recreational
activities
• Job(s) enjoyed the most
• Hobbies
• Community work enjoyed
• Environment preferred
– Indoors or outdoors
– City or rural area
– Personal goals
Assessing Self Employment Skills for Success
Rate Yourself – Are You Ready
to Start a Business?