Unit 1 Lesson 1: Getting Started With Beauty Care (Nail Care Services)

Unit 1 Lesson 1:
Getting Started
with Beauty Care
(Nail Care Services)
Getting Started with Beauty Care (Nail Care)
• In the early stage of learning this course, you will

recognize the entrepreneurial competencies and
have the knowledge of the business ideas and
opportunities related to Beauty Care (Nail Care)
Services.
• Learning about the entrepreneurial competencies
and the associated concepts will lead you in assessing
your personal entrepreneurial competencies and
matching those to other successful entrepreneurs
and practitioners.
The Chaotic Nail Salon
• The world has enough good and possible
business ideas like coffee shops, malls,
groceries, and other commercial services.
These commercial products and services
are generated to answer the existing
problems and issues in society and to give
comfort to people. These would not exist
without the creative minds of an
entrepreneur.
• An entrepreneur is a competent
person who performs
entrepreneurial activities such as
managing, problem-solving, and
collaborating. Also, it has been
described as the person who
generates and handles a particular
business venture for the purpose of
achieving profit and growth.
Ten Entrepreneurial
Competencies
• Identified by David Mcclelland and McBer
Ten Entrepreneurial Competencies
• Opportunity-seeking An entrepreneur is
someone who sees problems as
opportunities and transforms
opportunities as profitable activities.
• Persistence Entrepreneurs must possess
persistence. For instance, the
entrepreneur must stand firm and take
action if the business encounters
challenges and obstacles.
• Fulfilling Commitments -An entrepreneur
who excels in performing a specific job
and aims to give what is best and being
promised to the potential customers. For
instance, if you own a salon, you must
work for all the hours that your business is
open.
• Demand for quality and efficiency This has something
to do with setting time and quality standards on a
specific task. The entrepreneurs must ensure quality
work within a given schedule.
• Risk-taking This is the most common competency
among successful entrepreneurs . Entrepreneurs must
be aware of the potential risk in the chosen business
venture. For that reason, they are expected to take
action in preventing the identified risk.
• Goal-seeking When generating business,
an entrepreneur must set meaningful
goals and measurable short-term
objectives. The set goals are the
foundation of the chosen business. In
short, this has something to do with what
you want for your business.
• Information-seeking In putting up a
business, an entrepreneur must gather
information about potential clients,
suppliers, opportunities, and competitors
in order to make the products or services
marketable. Moreover, the entrepreneur
must consult experts for technical advice
on the business.
• Systematic Planning and Monitoring -
Systematic planning and consistent
monitoring in business are essential. The
entrepreneur must provide step by step
procedures in achieving the business
goals, and consistently monitor the state
of the business in order to solve issues
immediately and take actions if necessary.
• Persuasion and Networking –
As the saying goes, ask and you shall receive ; the
success of the business sometimes depends on how
the entrepreneur persuades and expands his/her
network. The entrepreneur must develop effective
strategies in getting potential clients and investors.
• Independence and Self-confidence The entrepreneur
must take full responsibility in achieving the goals of
the chosen business. Being confident in completing a
difficult task is necessary to be successful.
Starting with a Business Idea
• Clear primary objective
• Give your full time and effort
Two ways in starting business venture:
• Problem orientation
- The business starts with identifying
problems from an existing business and
then deriving a solution which is profitable
- it has to do with knowing more about the
needs of the customer.
Two ways in starting business venture:
• Solution orientation
- An entrepreneur introduces a new concept
of business products or services from a
scientific result which solves a problem or
costs less than the ones that already exist.
- This is typically new technology, a process,
a new material or a combination of them.
SWOT Analysis
• The SWOT analysis is used in analyzing the
products, services, and markets of an
organization to determine the best way to
achieve future growth. The term SWOT stands
for Strengths, Weaknesses, Opportunities,
and Threats.
SWOT Analysis
• Oftentimes, SWOT analysis is a tool used
when deciding the most appropriate
business idea because it guides an
entrepreneur in determining the possible
challenges and benefits of each idea, and
identifying the factors that directly
influence the business.
STRENGTHS
• These are the positive features of an
organization or business idea which will help
in achieving the objectives and be an
advantage over similar business ventures.
Either you sell better quality product or
service, or accessible location to a majority of
the customers.
WEAKNESSES
• These are the hindrances in achieving
business objectives. Also, these are the
issues which will be harmful to other
businesses as well such as insufficient
staffing, limitations in advertising, poor
location, or costly supplies.
OPPORTUNITIES
• These include interesting trends, possible
investors, and good opportunities for your
business idea, such as the demand for the
product or service due to tourism or the
promotion of social enterprise or
environment-friendly products.
THREATS
• These are the obstacles that you might
encounter in running your own business. For
example, having a simple business idea will
encourage other entrepreneurs to build a similar
business venture, which will then result in lesser
profit. It could also be a changing pattern of
buying goods and services like people are more
likely to buy goods and services online.
Terms to Remember!
• analysis - the process of investigating the ideas and the
underlying factors that influence the business
• business - an establishment which aims to provide or sell
products or services
• commitment - an act of giving full time and effort in putting a
business
• competency - ability to perform a given task successfully and
efficiently
Terms to Remember!
• confidence -an attribute in which entrepreneur shows free
from doubt when starting the business
• customer - someone who buys and uses a particular product
or service
• efficiency - creating a quality output within a given schedule
• entrepreneur - someone who possess positive qualities in
performing entrepreneurial activities
Terms to Remember
• entrepreneurship - a set of activities to perform in building and
managing a business
• PECs - Personal Entrepreneurial Competencies
• risk - possible exposure to danger
THE END

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Unit 1 Lesson 1:

• In the early stage of learning this course, you will

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