Have you ever dreamed of becoming the next multi-millionaire? If you’re thinking that winning the lottery is the only way to become one, well, think again. It is not chance that gives you millions, instead being a millionaire is a result of hard work and determination. Starting your own business is a good beginning towards fulfilling your dreams.
You may often hear the word entrepreneur and entrepreneurship. But what do these terms mean? You may refer to an entrepreneur as the person managing the business and entrepreneurship as the business venture. Some may say there is no difference. So, what does this module provide you towards reaching your dreams?
1. It outlines the concepts and basic principles, and processes of developing a business plan.
2. It helps you understand the environment and market in your locality as a factor in developing a business concept.
3. It allows you to experience starting and operating your own business.
Substantial knowledge of entrepreneurial principles and processes is important as this increases the chances of making your business successful. In this module, you are guided with a set of learning parts that will help you understand the underlying principles of entrepreneurship.
In this module, you will be able to practically implement your newly developed Business Plan, in which case, will help your target business most likely to succeed, because this is where you will actually operate the business; thus, selling your product/service to the potential customers. You are expected to operate your own business and keep your business records to monitor the progress of your business operation.
This module covers the following learning competencies:
- Implementing the business plan
- Operating the business
- Selling the product
- Identifying reasons for keeping business records
At the end of this module, you will be able to:
1. Identify the purposes of keeping business records.
2. Value the importance of keeping accurate business transactions.
3. Prepare an income statement of your business operation.