This is the full Unit 36 Task 4 which includes P5. I received all distinctions for my work. Do not copy word for word as this is a copyrighted piece of work and copying will be an act of Plagiarism.
Produce a proposal containing the essential information for the start-up of a
business.
My business idea is to start up a car rental business within the automotive industry. I aim to
offer a wide variety of cars available to rent to potential customers and become the most
popular car rental service in the North East. The name of my business would be ‘QuickRent’.
The business would be a sole-trader business and I would be self-employed as I wish to be
able to feel a sense of achievement in successfully launching this business. I would also like
to experience the ups and downs of being a business owner first hand. Launching a sole-
trader business would also help me gain independence therefore boost my self-confidence.
Being independent would also mean that I am not restricted to working hours and can
flexibly work whenever I please.
I possess numerous different skills; one of these skills is in time management. I am able to
manage time effectively and will delegate responsibility to someone else in the business.
Delegating certain tasks allows me to concentrate on important tasks that will generate a lot
of revenue. Another skill I possess is speaking to an audience. I am able to confidently
prepare a speech and address customers about my business as well as potential investors
without major hiccups if any. Another skill in which I possess is creativity. I have a creative
flair and can introduce unique factors into my business that aren’t present in my competitor’s
businesses. I also possess the skill of planning ahead. I am able to think about myself and my
businesses future and plan business expansions in order to increase business awareness thus
increasing profits in turn. I am also able to plan what new services/products my business
could potentially offer in the future. I also have the skill of organisation. I am able to
prioritize certain tasks that are of great importance over those that aren’t as much. I also have
the skill of determination. I am committed to reach set goals and have the willpower to do so.
I also possess the skill of marketing. I am good at marketing the services my business
provides and I do so through building relationships with my customers and promoting my
businesses services through TV and radio adverts. I also possess IT skills. I am able to
confidently use sophisticated software and applications usefully. I also possess good
communication skills. I am able to communicate well with suppliers and keep a good
relationship in order secure deals and delivery of goods. I am also able to communicate and
keep a good relationship with customers therefore encouraging repeat purchases and offering
quality customer service to encourage word of mouth recommendations. Another skill I
possess is goal setting. I am able to set goals that are specific and achievable which will help
my business advance smoothly and assists in letting everyone know where the business aims
to be after a certain time. I also have people management skills. I am able to manage my staff
and motivate them to work hard. I am also able manage people skills by offering adequate
training to staff whenever required so that they are committed to work harder and thus help
increase the rate of profits. I also have networking skills. I am able to build connections and
relationships with my suppliers and customers easily which ensures that supplies are provided
at decent prices and customers are repeatedly revisiting the business. I also have
imaginative/inventive skills. I am able to think up new ideas for my business that are unique
from my competitors thus attracting new customers. I also possess leadership skills. I am able
to gain the trust of individuals and lead them to success in terms of reaching goals. I also
have selling skills. I am able to retail the services my business provides and therefore raise
awareness, setting prices that are competitive and affordable for my target market.
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