unit 36 p3 m2

UNIT 36 P3

Describe the skills needed to run the business successfully and what areas require further personal development

Skills

1.Own contribution
2.Technical and operational skills
3.Management skills
4.Records and checking performance of business
5.Personal selling
6.Administration
7.Previous experience
8.Strengths and weaknesses

Do I have it?

1.Yes
2.Yes
3.Yes
4.Yes
5.Yes
6.No
7.Yes
8.No

Evidence

1.As I will be running this business alone, I will have full power over it and have control over what I want the business to offer and how it is run. If their are problems or gaps in the business, then I will consider employing staff to fill those gaps who have had previous experience in the industry or have the specific skills which are my weaknesses. I am good at balancing my work life with my personal life as I am a mum of two young children which I have to balance with my work which is challenging although I am used to it and fit both as priorities. However, I will work on my weaknesses and improve them before starting up my business. I will put my strengths into the business and use them appropriately to enable the business to be as successful as it can be.

2.Because I have had experience in the make-up industry, this will help me when setting up my own business, as I would have had experience as well as being highly knowledgeable about the products which is an extremely important aspect. This will ensure I have appropriate customer service because I will not employ anyone who doesn't have appropriate knowledge of the products I sell. I've also learnt to keep up with the up-to-date information and the competition within the make-up industry by reading books, magazines and articles that are on the internet. Also, by working on the till and behind the counter this has helped me to develop various skills such as organisation, handling money, stock checking etc. By having good IT skills it will mean I will be bale to manage and work on the financial side of the business so I can determine where the business is going, what I spend my money on and how I man maximise the profit I make.

3.Being a manager will be extremely difficult as they have a lot of different jobs to abide by however, managers have 3 mains skills in order to succeed. These include having human skills, technological skills and conceptual skills. I am able to lead effectively as a manager, because I currently manage my 2 staff and we all communicate appropriately and effectively. This has resulted in a positive outcome because my free-lance business has been successful. For example, If I am unable to make a client, I will send one of my trained and qualified staff as I have trained them strongly. If a product needs to be developed or I feel it isn't selling, I have the right technical skills to change this around and make a product be successful. Alongside this, I am able to perceive products and develop new concepts into the business where necessary. Overall I have good management skills due to having experience managing my own free-lance make-up business where I have to manage staff.

4.Running my business will require a lot of record checking and monitoring so that I am able to keep on top of my records and keep them on track. I currently keep on top of my financial records and take corrective measures to ensure problems are avoided. From running my free-lance business, I am able to monitor record and important information as I am used to doing this as I run my business alone. I constantly check my records alongside my aims and objectives for the business and the measure my performance which is done by gathering information on; production, sales, quality of products that have been returned. Additionally, I have to continually check the amount of money in the bank account to ensure the money I am owed comes in before the money I owe comes out. Lastly, I will compare the standards against my businesses performance and then make applicable improvements. My business is successful and has not collapsed which sows a sign of good monitoring. I monitor my records frequently and if I spot an issue I resolve it instantly. Some of the skills I had to do were, meeting set targets, selling insurance, checking profit after sales etc. I have also obtained knowledge and experience about monitoring the financial side of a business as I had plenty of assignments in the finance unit of my business coursework.

5.I have previously worked at MAC and Charlotte Tilbury which are two of the most successful businesses in the make-up industry. From working at both businesses, I had to greet customers politely, liase with customers on a daily basis, direct sell, have a high understanding of all the products, give advice about different products, communicate with customers over the phone, persuade customers to buy a product and had to work at the till. Also, I was able to identify customers product needs and what products sell the most and what don't. From working and selling my own  products for quite a while now, I am able to have strong knowledge about the products I sell and the benefits of them. From working at MAC and Charlotte Tilbury, I was able to gain valuable skills and experience that will help me when setting up my own business.

6.In order to be a good administrator, I will need to work on my organisation skills as I am somewhat messy and not the most organised person in order to be a successful administrator. However, I have good communication skills and I am very logical which is useful and good attributes to have. As I will be the administrator of my own business I will have to carry out all the jobs that they have to do which include; distribution, stock control, meeting and greeting customers, preparing and dispatching invoices, repeating and printing documents, doing accurate research, using the telephone etc. I haven't had experience of being an administrator before which means I haven't had to practise many of those skills before. I will have to abide by all health and safety laws and ensure all staff are aware of the risks and the hazards. I will be responsible for providing training to the staff to minis health risks that could occur. I will be responsible for controlling the business transactions along with the expenditures which will be done using appropriate software.

7.I have had plenty of previous experience, which includes working at MAC Makeup along with Charlotte Tilbury from which I now run a freelance Make-up business from my home salon. During achieving my BA (Hons) in Make-up, I had plenty of experience working with performing make-up on some high profile celebrities along with shadowing and assisting professional makeup artists. Ive also had experience where I did 3 actors make-up on set for a film in which I got paid. This will help me majorly when starting up my new business because I am experienced and now what I am doing.

8.When starting up a business alone I need to ensure all my strengths out way my weaknesses otherwise my business will fail. I will not ignore my weaknesses because they need to be addressed and turned into a positive in order for my business to be successful. The strengths I have are that I have good communication skills, I am a good business women, I have great leadership skills, I am independent, I have knowledge of financial literacy, I have commercial awareness, I am punctual and have good attendance, I have strong mathematics skills, I have good research skills, I am confident and approachable and I am good at making appropriate decisions. Although my weaknesses are that, I am not as organised as I should be, I cannot work under pressure, my IT skills are lacking, I need to work on my tidiness.

Rating

1.7
2.7
3.8
4.7
5.8
6.6
7.9
8.6

Skills	Do I have it?	Evidence	Rating out of 10
Own contribution	YES	As I will be running this business alone, I will have full power over it and have control over what I want the business to offer and how it is run. If their are problems or gaps in the business, then I will consider employing staff to fill those gaps who have had previous experience in the industry or have the specific skills which are my weaknesses. I am good at balancing my work life with my personal life as I am a mum of two young children which I have to balance with my work which is challenging although I am used to it and fit both as priorities. However, I will work on my weaknesses and improve them before starting up my business. I will put my strengths into the business and use them appropriately to enable the business to be as successful as it can be.	7
Technical and operational skills	YES	Because I have had experience in the make-up industry, this will help me when setting up my own business, as I would have had experience as well as being highly knowledgeable about the products, which is an extremely important aspect. This will ensure I have appropriate customer service because I will not employ anyone who doesn't have appropriate knowledge of the products I sell. I've also learnt to keep up with the up-to-date information and the competition within the make-up industry by reading books, magazines and articles that are on the internet. Also, by working on the till and behind the counter this has helped me to develop various skills such as organisation, handling money, stock checking etc. By having good IT skills it will mean I will be bale to manage and work on the financial side of the business so I can determine where the business is going, what I spend my money on and how I man maximise the profit I make.	7
Management skills	YES	Being a manager will be extremely difficult as they have a lot of different jobs to abide by however, managers have 3 mains skills in order to succeed. These include having human skills, technological skills and conceptual skills. I am able to lead effectively as a manager, because I currently manage my 2 staff and we all communicate appropriately and effectively. This has resulted in a positive outcome because my free-lance business has been successful. For example, If I am unable to make a client, I will send one of my trained and qualified staff as I have trained them strongly. If a product needs to be developed or I feel it isn't selling, I have the right technical skills to change this around and make a product be successful. Alongside this, I am able to perceive products and develop new concepts into the business where necessary. Overall I have good management skills due to having experience managing my own free-lance make-up business where I have to manage staff.	8
Records and checking performance of business	YES	Running my business will require a lot of record checking and monitoring so that I am able to keep on top of my records and keep them on track. I currently keep on top of my financial records and take corrective measures to ensure problems are avoided. From running my free-lance business, I am able to monitor record and important information as I am used to doing this as I run my business alone. I constantly check my records alongside my aims and objectives for the business and the measure my performance which is done by gathering information on; production, sales, quality of products that have been returned. Additionally, I have to continually check the amount of money in the bank account to ensure the money I am owed comes in before the money I owe comes out. Lastly, I will compare the standards against my businesses performance and then make applicable improvements. My business is successful and has not collapsed which sows a sign of good monitoring. I monitor my records frequently and if I spot an issue I resolve it instantly. Some of the skills I had to do were, meeting set targets, selling insurance, checking profit after sales etc. I have also obtained knowledge and experience about monitoring the financial side of a business as I had plenty of assignments in the finance unit of my business coursework.	7
Personal selling	YES	I have previously worked at MAC and Charlotte Tilbury, which are two of the most successful businesses in the make-up industry. From working at both businesses, I had to greet customers politely, liase with customers on a daily basis, direct sell, have a high understanding of all the products, give advice about different products, communicate with customers over the phone, persuade customers to buy a product and had to work at the till. Also, I was able to identify customer’s product needs and what products sell the most and what don't. From working and selling my own products for quite a while now, I am able to have strong knowledge about the products I sell and the benefits of them. From working at MAC and Charlotte Tilbury, I was able to gain valuable skills and experience that will help me when setting up my own business.	8
Administration	NO	In order to be a good administrator, I will need to work on my organisation skills as I am somewhat messy and not the most organised person in order to be a successful administrator. However, I have good communication skills and I am very logical which are useful and good attributes to have. As I will be the administrator of my own business I will have to carry out all the jobs that they have to do which include; distribution, stock control, meeting and greeting customers, preparing and dispatching invoices, repeating and printing documents, doing accurate research, using the telephone etc. I haven't had experience of being an administrator before which means I haven't had to practice many of those skills before. I will have to abide by all health and safety laws and ensure all staff is aware of the risks and the hazards. I will be responsible for providing training to the staff to minis health risks that could occur. I will be responsible for controlling the business transactions along with the expenditures, which will be done using appropriate software.	6
Previous experience	YES	I have had plenty of previous experience, which includes working at MAC Makeup along with Charlotte Tilbury from which I now run a freelance Make-up business from my home salon. During achieving my BA (Hons) in Make-up, I had plenty of experience working with performing make-up on some high profile celebrities along with shadowing and assisting professional makeup artists. I’ve also had experience where I did 3 actors make-up on set for a film in which I got paid. This will help me majorly when starting up my new business because I am experienced and now what I am doing.	9
Strengths and weaknesses	NO	When starting up a business alone I need to ensure all my strengths out way my weaknesses otherwise my business will fail. I will not ignore my weaknesses because they need to be addressed and turned into a positive in order for my business to be successful. The strengths I have are that I have good communication skills, I am a good business women, I have great leadership skills, I am independent, I have knowledge of financial literacy, I have commercial awareness, I am punctual and have good attendance, I have strong mathematics skills, I have good research skills, I am confident and approachable and I am good at making appropriate decisions. Although my weaknesses are that, I am not as organised as I should be, I cannot work under pressure, my IT skills are lacking, I need to work on my tidiness.	6

Further development that could be undertaken

1.To improve my own contribution to the business I will ensure I go on frequent training courses learn skills and new things that will help me run my business alone. I will ensure I balance my work and social life appropriately so this does not affect my personal life as well as my business. If I feel I cannot run the business alone with just my contribution, I will seek professional advice to support me and give me the correct advice on what to do. I could practise my interpersonal skills on a daily basis in my free time as well as speaking to motivational speakers as they would boost my confidence and I will be able to learn from them how they speak and present themselves.

2.In order to improve my technical and operational skills I will ensure I seek training to allow me to work on my skills. Also, I could consider employing new staff who have technical and operational skills which will help to fill the gaps of where I do not have those skills. The new staff could help me in improving my skills which would save me money on attending skills classes as well as time away from the business. Another option is to attend lessons in order to improve my skills on softwares such as Microsoft work, Powerpoint and Excel. Furthermore, I could attend clubs such as netball or football, where you have to work in a team environment as this will help me to gain and improve a load of new skills.

3.I could seek professional help for advice on how to be the best manager I can be and the right and wrong things to do. That would be really effective because they I would find out a lot of information that would be useful in how to be a manager. I could also ensure I go to frequent training courses which will allow me to become a better manager. In order to work on my time management I could work in a systematic way ensuring I have plans and time schedules for everything which will allow me to help plan out work schedules and keep a routine which is more professional. Also, this will allow deadlines to be met and improve the productivity of my business. Additionally, I could organise more meetings in order for staff to communicate their ideas across which can be helpful to improving the business.

4.I could attend maths skills classes in order to improve my data skills to make sure I complete the financial side of the business accurately, otherwise, monitoring my records would be pointless if the records weren't accurate and this could seriously affect my business because the financial side of it is one of the most important factors if I want the business to survive. I could store all the records, information and data in my own office which will be store securely and orderly ensuring they are tidy and easily accessible.

5.I could work on my communication skills by practising my along side any of my other staff who feel they lack communication skills. I could improve my technique when greeting customers, I could set in place a routine for greeting customers along with the technique used to persuade a customer to buy a product. I would ensure all my staff follow the same routine in order to build relationships with customers and entice them into buying my products.

6.In order to be more organised, I could have my own office where I would neatly put everything away and keep safely in order to not lose important things and work in a systematic way. All the information I keep with my easily accessible however, heavily secured because it is confidential information. I could also attend more health and safety training sessions and offer more for my staff in order to assure me and my staff are fully knowledgeable on the health and safety implications that have to be put in place within the business.

7.I could have more practise by doing free-lance makeup along side running my business in my free time. Also, I could constantly practise on people to gain more experience. When I am not working, I should learn any new products that are introduced efficiently and ensure my staff are aware of them immediately.

8.I could improve my weakness of being unable to work under pressure, by setting a realistic time scale in which I will complete this skill in. It will also help me by working long hours and having a tight schedule. My IT skills could be improved by attending an IT course where I will be able to use IT more sophisticatedly which will help me improve the efficiency of my business e.g. managing my website, filling out graphs, charts etc. Also, I will be able to monitor the financial records more efficiently now because I will have completed an IT course.


UNIT 36 M2

Analyse the personal development needed to run the business successfully

Within this assignment I will be analysing the personal development I feel needs to be implicated in order to run my business successfully.

Skills

1.Balancing my personal life and work life
2.Interpersonal skills
3.Technical and operational skills
4.IT Software skills
5.Time management skills
6.Organisation skills
7.Make-up experience skills
8.Working under pressure skills


Action

1.Speak to motivational speakers to see the way they speak, perform and ask them if they have any tips, set an assigned day for personal life away from work to have time to do what you want to do so you don't have an unhealthy unbalance.

2.Seek training in certain areas you feel are lacking, employ new staff who have the skills I do not have so they can fill the gaps in the business, join a team building club such as Netball or Hockey, practise speaking in front of a mirror in order to gain confidence.

3.Attend training courses to boost your skills, organise frequent meetings with staff in order to generate new ideas and communicate properly.

4.Go to a math class to gain more experience for working on the till and calculating prices, attend an IT course to improve working on software's such as Microsoft Word, Microsoft PowerPoint, Microsoft Publisher etc.

5.Set specific plans and time schedules for jobs that need to get done in order to work in systematic way, set deadlines so have more productivity in the business and to get things done quicker.

6.Have my own office which have folders and appropriate securely fitted places where I can keep important documents safe.

7.Do more free-lance makeup in spare time to get more experience, practise on family members or friends, learn any new products and teach staff, go to makeup classes to learn new tips and techniques, speak to make-up artists to gain more knowledge.

8.Set a realistic time schedule to meet a deadline, go to yoga or relaxation class to relieve stress from the workplace.

Deadline

1.2 weeks
2.4 weeks
3.3 weeks
4.2 weeks
5.5 weeks
6.1 week
7.3 weeks
8.2 weeks

Costs

1.
2.
3.
4.
5.
6.
7.
8.

Skill	Action	Deadline	Cost
Balancing my personal and work life	Speak to motivational speakers to see the way they speak, perform and ask them if they have any tips, set an assigned day for personal life away from work to have time to do what you want to do so you don't have an unhealthy unbalance.	2 weeks	This doesn’t have to cost to speak to motivational speakers, ask around, and see who is available. However, if no one is helping, then it may be worth while to pay to speak to someone
Interpersonal skills	Seek training in certain areas you feel are lacking, employ new staff who have the skills I do not have so they can fill the gaps in the business, join a team building club such as Netball or Hockey, practise speaking in front of a mirror in order to gain confidence.	4 weeks	Training may have a minimal fee which wont be costly although, it would depend on the amount of times you go to the sessions. Joining a club may cost depending where you join to play.
Technical and operational skills	Attend training courses to boost your skills, organise frequent meetings with staff in order to generate new ideas and communicate properly.	3 weeks	Training courses may have a minimal charge although depends how many times you attend the sessions. Staff meetings don’t cost which is good.
IT software skills	Go to a math class to gain more experience for working on the till and calculating prices, attend an IT course to improve working on software's such as Microsoft Word, Microsoft PowerPoint, Microsoft Publisher etc.	2 weeks	Attending a math’s class may have a small fee although one session will help majorly because math’s skills can be taught quicker than other skills.
Time management skills	Set specific plans and time schedules for jobs that need to get done in order to work in systematic way, set deadlines so have more productivity in the business and to get things done quicker.	5 weeks	This doesn’t have to cost as I will have all the equipment such as; paper, pens rules etc. already.
Organisation skills	Have my own office, which has folders, and appropriate securely fitted places where I can keep important documents safe.	1 week	Building space or an office can be extremely expensive, which I may not be able to afford. Although, having an office is essential therefore, when looking for my work space, I will ensure they have a side room which I can use as my office. Equipment such as; folders. Pens, trays aren’t expensive and are available locally.
Make-up experience skills	Do more free-lance makeup in spare time to get more experience, practise on family members or friends, learn any new products and teach staff, go to makeup classes to learn new tips and techniques, speak to make-up artists to gain more knowledge.	3 weeks	This wont cost me because the clients will be paying me as well as gaining more experience. However, teaching staff may cost as I will be using my own make-up supply. Speaking to make-up experts do not cost as you could end them an email or go into a store and see them
Working under pressure skills	Set a realistic time schedule to meet a deadline, go to yoga or relaxation class to relieve stress from the workplace. Have an area in the work place where you can go and have fresh air if you are too stressed or need a break.	2 weeks	Setting deadlines and a time schedule doesn’t cost anything although attending a yoga or relaxation class may have a minimal price, depending on what leisure centre you go to.