DEVELOP SELF- ASSESSMENT PROFILE

Taking on the challenge and responsibility of starting and running your own business venture involves:

· input of your personal financial resources

· time

· energy

You do not want to start something for which you do not have the requisite:

· skills

· knowledge

· resources

· support with which to follow through

Before launching into an entrepreneurial venture, all prospective entrepreneurs should first take stock or personal inventory of their interests, values, strengths and weaknesses in four (4) broad areas, namely, their:

· real interests

· personal qualities/traits, aptitudes and abilities

· business skills

· personal finance, family and lifestyle

The general purpose of this self-assessment is to determine whether there is an appropriate match between the:

· skills

· talents

· resources that the entrepreneurs possess and what the proposed business requires for success.

Feedback is any comment made by the recipient of a message to the sender of the message.

Obtaining feedback is vital to assessments and readjustments, whether one is looking at personal strengths and weaknesses, or the strengths and weaknesses of decisions that have been made.

For the decision-making process, feedback is that part of the monitoring process that allows entrepreneurs to evaluate the soundness of decisions and take corrective actions, where necessary.

 Self-assessment also needs feedback. Outlined below are some of the benefits that you may expect to derive from feedback.

Self-assessment also needs feedback. Outlined below are some of the benefits that you may expect to derive from feedback.

Benefits of feedback: It helps you to:

· reinforce your strengths

· change any existing negative perception of yourself

· increase your chances of becoming a successful entrepreneur 

·The Open quadrant refers to information that we know about ourselves and which others know about us.

· The Blind quadrant refers to information known to others, but unrecognized by ourselves.

·The Hidden quadrant contains information that we know, but do not wish to share with others (our secrets), and

· The Unknown quadrant contains the material unknown to ourselves and unknown to others.