1.1 Motivation and context

What is your motivation? Is this a lifestyle business, e.g. a way to earn a living that fits with your lifestyle, using mainly your own skills, talents and/or time? Does it have to fit with a family situation? If so, you may see yourself as being self-employed, staying local and staying small to ensure that you can maintain a sensible work–life balance.

Perhaps your business is dependent upon your immediate environment for several reasons, such as:

  • natural features, like wonderful views, and amenities that you want to exploit
  • ready access to customers (enabling footfall or easy logistics) or the infrastructure your business needs, which could be anything from a central location to superfast broadband.

Reflection

Reflect on your own motivation for starting your enterprise taking into consideration all of the aspects that have so far been discussed.

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Next, you will look at different types of businesses and how funding can be distributed between them.

OpenLearn - Entrepreneurship – from ideas to reality
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