ASSIGNMENT 1 FRONT SHEET

Qualification BTEC Level 5 HND Diploma in Business

Unit number and title Unit 9: Entrepreneurial Ventures

Submission date 1/3/2024 Date Received 1st submission 1/3/2024

Re-submission Date Date Received 2nd submission

Student names & codes Final scores Signatures

1.NGUYEN ANH HONG -BH01036

Group number: 2. LE DANG CHAU GIANG-BH01059

3. NGUYEN THUY LINH-BH01017

4. NGUYEN DINH VIET-BH00987

Class Assessor name HOANG VAN DUNG

Student declaration
I certify that the assignment submission is entirely my own work and I fully understand the consequences of plagiarism. I understand that making a
false declaration is a form of malpractice.

P1 P2 P3 P4 M1 M2 D1
OBSERVATION RECORD

Student 1 NGUYEN ANH HONG

Description of activity undertaken

Give a brief theory why entrepreneurs need skills and qualities

Consolidate the entire lesson
Summarize all of everyone's theories and articles
Carry out sales and customer care business
Manage sales pages

Assessment & grading criteria

How the activity meets the requirements of the criteria

Student
Date:
signature:

Assessor
Date:
signature:
Assessor
name:

Student 2 LE DANG CHAU GIANG

Description of activity undertaken

Complete P1, P2, P3

Implement business strategy

Sales and customer care

Manage sales pages

Assessment & grading criteria

How the activity meets the requirements of the criteria

Student
Date:
signature:
Assessor
Date:
signature:

Assessor
name:

Student 3 NGUYEN THUY LINH

Description of activity undertaken

Complete P3, M1, M2

Take responsibility for synthesizing capital and finances of the group

Sales and customer care

Manage sales pages

Assessment & grading criteria

How the activity meets the requirements of the criteria

Student
Date:
signature:

Assessor
Date:
signature:

Assessor
name:

Student 4 NGUYEN DINH VIET

Description of activity undertaken

Support M1,M2

Accept responsibility for shipping goods to customers and receiving goods

Sales and customer care

Assessment & grading criteria

How the activity meets the requirements of the criteria

 Student
Date:
signature:

Assessor
Date:
signature:

Assessor
name:

 Summative Feedback:  Resubmission Feedback:

Internal Verifier’s Comments:

Signature & Date:

Contents
A.BUSINESS PLAN........................................................................................................................................................9
I INTRODUCTION.........................................................................................................................................................9
II BUSINESS MODEL...............................................................................................................................................10
2.1 Business idea..........................................................................................................................................10
2.2 Customer segments...............................................................................................................................11
2.3 Value proposition..................................................................................................................................12
2.4 Chanels...................................................................................................................................................14
2.5 Customer relationships..........................................................................................................................18
2.6 Revenue streams....................................................................................................................................20
2.7 Key resources.........................................................................................................................................22
2.8 Key activities...........................................................................................................................................26
2.9 Key partnership......................................................................................................................................31
2.10 Cost Structure.........................................................................................................................................32
B ENTREPRENEURSHIP MINDSET..............................................................................................................................33
I TRAITS OF AN ENTREPRENEURIAL VENTURE......................................................................................................33
II.THE ANALYSIS OF ENTREPRENEURIAL MINDSET:..............................................................................................34
2.1 Introduction about the Chosen Start-up Ventures and their Founders:...............................................34
2.3 The entrepreneurial traits and characteristics of the chosen entrepreneurs.......................................36
2.4 Evaluating the similarities and differences between those entrepreneurial ventures and identifying
common traits and characteristics of entrepreneurs in those ventures..........................................................37
2.5 The concept of the entrepreneurial mindset........................................................................................40
2.6 The effects of growth mindset and fixed mindset on the entrepreneurial process.............................41

A.BUSINESS PLAN

I INTRODUCTION

Coming to the competition, SV STARTUP encourages students to have start-up ideas within the
framework of the Project to support student startups until 2025 signed by the Prime Minister and
implemented by the Ministry of Education and Training. We have chosen to establish a production and
sales shop to serve the beauty needs of women during holidays, parties, etc. The indispensable thing to
honor those hands is the nailbox. Through the report below, the team will demonstrate the analytical
ability and entrepreneurial mindset necessary to successfully deploy "Meii nailbox". While business
strategy is a fundamental aspect of entrepreneurship, personal qualities such as likability, creativity,
flexibility and resilience play a key role in creating so the path to success. This essay delves into each of
these skills and qualities, highlighting their importance in the entrepreneurial journey.

Through the report below, my team hopes to shed light on the multifaceted nature of entrepreneurship
and provide valuable insights to everyone and the team will demonstrate the analytical ability and
entrepreneurial mindset needed necessary for successful implementation.

II BUSINESS MODEL

2.1 Business idea

“Meii nailbox” is a passionate business idea, where we not only provide nail services with clear,
high-quality nailbox origins but also aim to be quick, convenient and extremely economical. and
environmental protection. Our goal is to ensure that our products not only meet customers' needs for
eye-catching appearance, diverse designs and quality, but also increase the value of their hands. We
work closely with the nailbox accessory factory to ensure the quality of each nail set, and we have skilled
nail technicians who are always creative and innovative to meet all the needs of difficult customers. most
counted. Our nailbox products are highly reusable and convenient for users. At the same time, we are
committed to protecting the environment through government inspection documents ensuring
environmental friendliness.

2.2 Customer segments

 Meii's products serve many customer segments, most of whom are young women with beauty
interests and stable income, followed by the student segment. First and foremost, we pique the interest
of people who are passionate about beauty and love themselves, expressing their personality and style
through nail designs. Young women are a group of customers with high beauty needs, who like to
experiment with new, beautiful nail designs that suit their personal style. Besides, they have a stable
income and can afford high-quality nail services because they are not too concerned about price but
above all focus on quality and satisfaction. For the student customer segment, students do not have a
stable income but have a need to beautify and express their unique personalities. They often focus on
price, design, etc. Meii nailbox can completely satisfy all customer segments.

To get information about customer segments, Meii nailbox company conducted a survey to find
out the customer segments that use and need to beautify their hands. The results of the customer
segmentation survey are as follows: Regarding the age group from 15 to 20 years old, 80% of the number
of customers participating in the survey were accounted for. In terms of financial resources, the majority
were those who had stable jobs and The remaining 28% are students with no source of income. What
customers care about most when coming to Meii nailbox is the quality and service attitude. Meii dares to
guarantee dedicated service and give customers the best experience with the product. When coming to
Meii.nail, we commit to providing customers with exciting and beautiful experiences with high quality
products, enthusiastic consultants operating 24/7 and affordable prices.

2.3 Value proposition

Our Meii nailbox is a shop that provides beautiful, quality and convenient fake nail products for
women. With Meii nailbox, customers can always change their nail style depending on their preferences,
occasions and fashion trends without spending a lot of time and money.

Meii nailbox has a vision of becoming a leading brand in the field of nail beauty in Hanoi. We want
to bring customers great, safe and quality experiences when using our shop's products.Meii nailbox's
mission is to bring joy, confidence and satisfaction to every customer through beautifying their hands.
We also want to contribute to raising awareness and responsibility for environmental protection by using
friendly and recyclable materials.

Currently, Meii nailbox has a short-term goal of expanding the market, increasing sales and loyal
customers. Meii will continuously update new, diverse and trendy nail designs. Meii nailbox's long-term
goal wants to build a community of people who love nail beauty, sharing experiences and knowledge
about nail care. Nailbox also hopes to cooperate with designers, artists and famous brands to create
more exclusive and creative products in the future. The brand "Meii naibox" is not only a product but
also a mission. We hope that through our products, we can bring positive change to the beauty
community while protecting the environment. We invite you to join this journey, use and feel the
sophistication and enthusiasm of each nailbox.
 The above images are from left to right, the first photo is the shop's sample photo, the second
photo is the actual photo under natural light conditions, the last photo is for instructions on how to use
our nails. Meii nailbox helps customers save time, money and effort when beautifying their nails, while
creating unique nail styles that suit their own personalities. Besides, to be able to maintain Meii, we use
high-quality artificial nail products that are safe and easy to remove, which is a unique feature of Meii.
And all Meii products can be reused many times while still maintaining the beauty of the naill set.
Customers can try many different nail designs without having to repaint or wait for them to dry.
 In addition to the above features, Meii also has a big promotional policy with the first hundred
customers who buy a product receiving any additional product as a free gift but only pay the price of one
product. Meii ensures that all of our products are produced by modern production lines, and the patterns
are hand-painted by famous skilled artists in Europe. Customers can have their nails done according to
their favorite drawings, styles with stones and glitter. Regarding price, Meii is confident that it will give
customers a super favorable and reasonable price. Meii nailbox also has a variety of nail designs, from
basic to outstanding, from traditional to modern, from simple to complex. The reason why customers
come and trust nailbox shop is because nailbox shop always puts customers' interests first. Nailbox Shop
provides consulting, support, and warranty services to customers enthusiastically and professionally.
Nailbox Shop also has a flexible and reputable return policy. Nailbox Shop always listens to customers'
opinions and feedback to improve the quality of products and services

2.4.Chanels

Creating a distribution channel for Meii nailbox products requires a highly structured approach.
To begin with, online channels play an important role. Setting up an official website and leveraging e-
commerce platforms ensures a seamless online shopping experience for customers, with the
convenience of browsing product details and making secure online payments. full. Currently, we reach
customers through e-commerce sites such as facebook, instagram and tiktok because these are large
media channels, easily reaching the customer segment we target.

2.4.1. Facebook
 (Facebook: https://www.facebook.com/profile.php?id=61555295495321 )

This is Meii's official Facebook page, we often update the newest, most beautiful and trending nail
designs with stones. This page is taken over by Anh Hong, who is always online 24/7 to advise all
customers and this is also an easy-to-access place for customers such as students, university students,
lecturers, and office staff.

2.4.2. Instagram

(Instagram: https://www.instagram.com/mei_nail.box/ )
 Next is the Instagram page, where there are hot and trendy nail designs by Chau Giang. Here are
posted custom-designed nail sets with genuine feedback from customers. The most accessible are mostly
women with stable income and individual customers who want to have their own special nail set.

2.4.3. Tiktok

Finally, the Tiktok page is managed by Thuy Linh, this is also the page that receives the most
interactions. Because currently Tiktok is an entertainment trend that can reach many customer
segments, helping Meii nailbox increase the number of interactions on two main pages, Facebook and
Instagram.

(Tiktok: https://www.tiktok.com/@meii.nailbox?lang=vi-VN )

In fact, each team member performs an important task to maintain the brand. Team leader
Nguyen Anh Hong has the role of finding quality, reputable import sources and managing the main social
networking site Facebook. The remaining members are Thuy Linh and Chau Giang, who are in charge of
managing tiktok and instagram 24/7, always ready to advise and respond to customers' questions.
Besides, we are in charge of the creative role of the group. . Member Dinh Viet is responsible for
packaging and delivering completed nailbox products to customers, ensuring the products are not
dented or damaged, providing a good experience for customers. Thanks to that, the reach of our nailbox
products easily reaches more audiences. Setting up social networking sites will add an element of direct
interaction with customers, enhancing brand visibility and accessibility. Providing efficient delivery
services, including home delivery, ensuring timely and convenient product delivery to customers, for
customers shopping online.

Effective marketing and advertising, including online promotion and word-of-mouth marketing
through hands-on product experience, helps increase product awareness and attract potential
customers. A well-maintained inventory and warehouse management system will ensure product supply
at all times, prevent stock-outs and ensure customer satisfaction. Well-trained team members are
essential, allowing team members to provide customers with expert guidance and product usage,
enhancing the overall customer experience.

Ultimately, collecting and acting on customer feedback and reviews helps improve product quality
and meet evolving customer needs. This systematic approach to distribution channels ensures that Meii
nailbox products reach a diverse customer base through many different avenues, ultimately enhancing
the brand's presence and reputation on the market.

In fact, each team member performs an important task to maintain the brand. Team leader
Nguyen Anh Hong has the role of finding quality, reputable import sources and managing the main social
networking site Facebook. The remaining members are Thuy Linh and Chau Giang, who are in charge of
managing tiktok and instagram 24/7, always ready to advise and respond to customers' questions.
Besides, we are in charge of the creative role of the group. . Member Dinh Viet is responsible for
packaging and delivering completed nailbox products to customers, ensuring the products are not
dented or damaged, providing a good experience for customers.

Thanks to that, the reach of our nailbox products easily reaches more audiences. Setting up social
networking sites will add an element of direct interaction with customers, enhancing brand visibility and
accessibility. Providing efficient delivery services, including home delivery, ensuring timely and
convenient product delivery to customers, for customers shopping online.

Effective marketing and advertising, including online promotion and word-of-mouth marketing
throug h hands-on product experience, helps increase product awareness and attract potential
customers. A well-maintained inventory and warehouse management system will ensure product supply
at all times, prevent stock-outs and ensure customer satisfaction. Well-trained team members are
essential, allowing team members to provide customers with expert guidance and product usage,
enhancing the overall customer experience.
 Ultimately, collecting and acting on customer feedback and reviews helps improve product quality
and meet evolving customer needs. This systematic approach to distribution channels ensures that Meii
nailbox products reach a diverse customer base through many different avenues, ultimately enhancing
the brand's presence and reputation on the market.

2.5 Customer relationships

To build good relationships with customers, Meii nailbox will focus on two main strategies:
Improving service quality and improving product quality. Service quality and product quality are two
important factors to retain customers as well as attract new customers. When old customers have used
Meii's nailbox and appreciate the quality of the products and services, they will recommend to
acquaintances to use Meii's products. To improve service quality, Meii nailbox has the following
strategies: team training Professional, responsible, welcoming staff and thoroughly solving customer
problems. In addition, we also improve product quality to create products that are safe, convenient,
durable, and most suitable for consumers. Next are preferential policies for loyal customers, promotions
for customers on special days such as Meii nailbox shop's birthday, holidays and accumulating bronze,
gold and diamond points. ... These are ways to attract potential customers to help Meii nailbox grow and
be trusted and supported by many people.
 In addition to nail designs decorated with stones and decorative charms, Meii nailbox also
provides very elegant and unique nail designs with flowers, scenes, and lettering that require high skill
and aesthetics. This is one of the customers who ordered those special nail designs.

The following is one of Meii nailbox's customer consultation chats, ensuring consultation with
enthusiasm, warmth and solving all customer problems about Meii nail products.

2.6 Revenue streams

Product's name Image Price Profit

- Nails box with 50,000vnd 20,000vnd
luxurious personality,
code 135
- Nails box with
luxurious personality,
code 437
-Nails box with 50,000vnd 20,000vnd
luxurious personality,
code 234
- Nails box with
luxurious personality,
code 298
- Nails box with 50,000vnd 20,000vnd
luxurious personality,
code 257
- Nails box with
luxurious personality,
code 63
- Nails box with 50,000vnd 20,000vnd
luxurious personality,
code 29
- Nails box with
luxurious personality,
code 452
Beautiful nails Studden 50,000vnd 20,000vnd
with stones
 Solid mirror nails with 50,000vnd 20,000vnd
stones

Angelic white nails 50,000vnd 20,000vnd

with bows

Business performance report table:

Targets January February

Cost of goods sold 600.000vnd 0

Revenue from financial activities 350.000vnd 500.000vnd

Other costs 100.000vnd 100.000vnd

The initial capital that the group invested to import products totaled 600,000 VND. In the first
month, January, the group used all of its capital to import nailbox products, through the product
marketing process, posting products on channels such as Facebook, Tiktok, Instagram to bring the
products closer to the customers the group already had. Sold the first 7 nailbox sets and earned a profit
of 350,000 VND. Next, in February the group continued to promote posting on social networking sites so
it became known to more customers and the group sold 10 more nailbox sets and earned a total revenue
of 500,000vnd. In addition to packaging the products and paying for gasoline to be able to deliver them
to customers, the group will give 100,000 VND each month to serve the business.

2.7 Key resources

The group is operated by 4 co-founders including:

Nguyen Anh Hong Nguyen Thuy Linh

Le Dang Chau Giang Nguyen Dinh Viet

Each Co-founder's initial capital contribution is 150,000 VND; The total for all 4 people will be
600,000 VND to be able to import the product. This amount of money is personal to each person, so
there
is no need to borrow from anyone or anywhere because each person will have their own accumulated
amount of money for things like studying, shopping, and eating.....so this is necessary to use that money.

Once working in a group, each person will always have their own clear roles and tasks. This is an
important business project, so right from the beginning, the team leader clearly assigned each person an
individual task so that they could be responsible for their own work. First, Nguyen Anh Hong is a group
leader who will be responsible for managing the page on Facebook every day and will always post
regularly so that the page can reach more people, bringing nailbox products to people on Facebook who
are interested. Besides, you also have to answer questions from customers when they comment or text
to ask about a product of the project; and handle questions and risks in shipping and products so that
customers can feel secure and come back to buy more times.

Next is Nguyen Thuy Linh, a member of the project who is responsible for building the project's
Tiktok channel, because currently Tiktok is a sales platform that is of interest to many young people
today, every day Linh will post a video with the group's nailbox samples to make customers more
interested in the products. Besides, Linh will also pay attention to customers on Tiktok when they
comment on the products in each video or customers text to ask more about the group's products.
 Next, let's talk about Le Dang Chau Giang. You will be responsible for building the project's
Instagram channel and posting the group's products on your personal page so that Instagram customers
can more easily access the group's products. again. Just like the two members above, they will also
handle customer issues on Instagram about product models.
Finally, Nguyen Dinh Viet will have a different mission from the above members: Viet will be the one to
deliver the products to each customer. Besides, when delivered to the customer, if the customer has any
problems with the product, those problems will be explained and handled appropriately.

2.8 Key activities

Sales activities:

Sales does not just stop at bringing products to customers but is also a comprehensive process of
consulting and customer care. Our team believes that the relationship between seller and buyer is not
just about exchanging goods but also about building trust and long-term satisfaction. Whenever
customers are interested in our products, We do not simply work to sell but also put ourselves in the
customer's shoes to understand their needs and desires. Through thorough consultation and answering
all customers' questions, we hope to help them make the right choice and best suit their needs.
 After customers have decided to buy the product, we continuously care for and support them in
the process of using our products. We are always ready to answer any questions and provide detailed
usage instructions to ensure that customers can use the product properly and without encountering any
difficulties. In sales, our team focuses on providing high quality products and services, while creating a
great shopping experience for our customers. By understanding the needs and desires of the market, the
team will continuously improve the sales process to ensure flexibility and quick response to customer
requirements.
 In addition, we also regularly contact and collect feedback from customers about the quality of
our products and services. This helps us constantly improve and develop to meet the increasing needs of
customers and maintain long-term and sustainable cooperative relationships.

Marketing activities:

Product marketing is extremely important in the current digital age, reaching young customers
through prominent media platforms such as Facebook, Tiktok, Instagram is not only a trend but also a A
strategy that today any business project that wants its product to be more widely known thinks of first.
Putting the group's products on social networking sites is an extremely effective marketing strategy that
helps improve product recognition and customer interaction.
 The Facebook platform as we know is currently the top online sales platform among the channels
rated to bring the best results, specifically, up to 97% of stores use reviews to bring good results. , this
rate in the in-store channel is 86%, agents/collaborators are 85%, and websites are 83%.( Thương nguyễn
, 2022)

Facebook is one of the most popular and powerful online advertising and sales platforms today,
providing a range of tools and features to help businesses reach their target audiences effectively. fruit.
Facebook's strength is its ability to route ads based on users' personal information and online behavior.
This allows businesses to clearly outline their target audience, from age, gender, geography to interests
and previous interactions on social networks. This helps optimize your outreach strategy and increase
conversion rates. In addition, Facebook also offers many different ad formats, from regular posts to video
ads and dynamic ads, giving businesses flexibility in conveying messages and attracting customers'
attention. Not only does it stop at paid advertising, Facebook is also a platform that allows businesses to
create customer care communities, interact and respond to information quickly. This helps strengthen
customer trust and engagement with the brand.
 TikTok and Instagram platforms are both powerful tools in reaching target audiences and creating
unique engagement, especially for products like Nailbox. Nailbox, with its diversity and creativity in nail
designs, can attract attention from the young community on both platforms. On TikTok, with a unique
approach through short videos, Nailbox can create creative and engaging content, from demonstrating
diverse nail designs to instructions on how to use products in a unique and interesting way. taste. User
interaction and sharing on TikTok can help Nailbox quickly spread its message and create brand
awareness.

On Instagram, with simultaneous photo and video features, Nailbox can share beautiful images of
the latest nail designs and collections, along with special promotions and events. Using the right hashtags
and interacting with the nail art fan community on Instagram can help Nailbox increase its chances of
reaching and interacting with potential customers

Handling media crises:

Doing business does not always satisfy customers, each person will have a different feeling, so it is
impossible to only have good reviews but there will also be bad reviews. Sometimes it's just because
customers don't understand how to use it and have many of their own questions that need to be
answered by the sales staff. When receiving negative feedback from a customer, the most important
thing is to approach the issue professionally, patiently, and respectfully. But Meii.nail box has not
received any bad feeback from customers since the first products were sold. It is also very lucky for the
group because the group has chosen the most reputable and quality products and always cares about
customers, so every time they receive Meii.nail box products, customers always praise and feel satisfied
satisfied.

2.9 Key partnership

 Before selling a product, we always want to find a unit to import goods with sufficient quality and
reputation. Because the importer plays an extremely important role, if you choose an unreliable unit, it
will lead to many bad problems. Maybe when the goods arrive, they will not be as good as what the
importer said, and sometimes extremely bad product. Cost is also extremely important because this is a
small business project so investment capital is also limited. The group spent a lot of time finding an
importer suitable for the group's capital. Shopee is an extremely reputable unit in importing goods
because this is where there are many sales pages for customers to easily choose products depending on
price, design....

After consulting in many places, the group chose Shopee as the place to import goods because
there are extremely diverse designs and suitable for the capital that the group has set. The group chose
"Vy Nha Shop" as the place to import nailbox products because the group was quite impressed with the
diverse product designs here, with more than 418 different nailbox products along with many nail-
related tools. Besides, the number of followers is quite high compared to the average of other nailbox
shops at 109.2k; Plus the shop has a rating of 4.9/5 stars with 99.8k people reviewing it. Just through
these things, the group saw that this is an extremely reputable shop and sells very quality products. Each
product sold in the shop has sold a lot. The quality is unquestionable, the products are also extremely
beautiful and trendy with today's young customers. Besides, when purchasing goods at the shop, you will
also receive much more preferential discount codes. When receiving the goods, the shop will also give
away necessary items such as glue, nail files, ... Through this we can see that the shop works very quickly
and delivers goods fully.

2.10 Cost Structure

Cost structure, used to describe the different types of costs a business faces, typically includes
direct and indirect costs, also known as fixed costs and variable costs.Cost Operating costs are the
deciding factor in whether a business is sustainable or not. Although this business model is not new, it is
the optimal solution for Vietnamese users.

Import money 520.000 VNĐ

Gasoline money for delivery 70.000 VNĐ
Money to buy product packaging 50.000 VNĐ
Delivery money 10.000 VND
Delivery money to customers 40.000 VNĐ

B ENTREPRENEURSHIP MINDSET

I TRAITS OF AN ENTREPRENEURIAL VENTURE

Definiton Entrepreneurial : Entrepreneurship can be understood as an individual or a group of

people starting to build their own business model. This is the process of creating and developing a new
business or creating a new product/service. Entrepreneurship is a challenging process, because it
requires confidence, creativity, and good management on the part of the entrepreneur to create a
successful company. Starting a business can include many stages, such as coming up with an idea,
implementing the idea and maintaining and developing your business. (vnsc.vn )

Characteristics and skills associated with entrepreneurship include:

Analytical skills: Starting a business requires the ability to analyze and evaluate situations,
information and data to make smart decisions. Analytical skills help entrepreneurs understand the
market, partners, competitors and potential customers. Through collecting and analyzing information,
entrepreneurs can make strategies and decisions based on a deep understanding of the business
environment.

Taking risks: Starting a business means you have to manage a series of tasks such as managing
resources, designing websites, building policy procedures, etc. Planning is important to ensure you can
come up with feasible plans and direct the entire system to work towards the goals of the plan.
Depending on each stage of development, from idea to implementation and operation, you will need
different plans. At the same time, business is also a risky activity, so make sure you try to anticipate as
many problems as possible and calmly handle them.(Vietsangtao.vn)

This skill is necessary in entrepreneurship because: The startup process is full of risks: Risk is an
indispensable part of entrepreneurship, and the spirit of risk-taking helps entrepreneurs overcome fear
and accept trials. challenge. necessary risks to achieve success. Assessing and managing risks also helps
minimize negative consequences and increase the chances of success. Strong competition: Analytical
skills help entrepreneurs understand competitive markets, customer needs, and the characteristics of the
products or services they offer. This allows them to create competitive advantages and build effective
business strategies.

The role of risk-taking and analytical skills in entrepreneurship: Making a difference: Risk-taking
and analytical skills help entrepreneurs make a difference and highlight their ideas. your business idea
ahead of your competitors. This helps increase your chances of success and building a sustainable
business. Strategic direction: Analytical skills provide the necessary information and data to guide the
strategic direction of the business. Entrepreneurs can identify potential opportunities, evaluate the
likelihood of success, and determine strategic moves to grow and expand their business.

II.THE ANALYSIS OF ENTREPRENEURIAL MINDSET:

2.1 Introduction about the Chosen Start-up Ventures and their Founders:

For the purpose of this study, the report selected to examine three representative entrepreneurs
operating in 2 separate business areas:successive entrepreneurs - Steve Jobs, and Technology & Industry
- Trade & Services - Social Enterprise - Pham Nhat Vuong , . With thecharacteristics, characteristics,
thinking, and representative skills of selected leaders will be included for analysis. This report willprovide
insight into the extent to which these factors affect business activities based on the findings presented
therein. From the abovefindings, they will be useful for the preparation of the "BIOBALANCE" startup
project to be carried out smoothly and successfully asexpected.

2.2.Investigating what it takes for those Entrepreneurs, Serial Entrepreneurs, Technology

Entrepreneurs and Social Entrepreneurs:

Technology entrepreneurship is a form of business leadership that focuses on the process of

discovering high-potential, technology-intensive business capabilities, assembling resources including
human resources and capital, and managing those resources. that force. The development of science and
technology uses disciplined, timely decision-making skills to develop rapidly, bringing together the talents
of scientists and others to build successful businesses ( Carr, 2016)

Bill Gates, a notable figure in the business world, is an American businessman, inventor, and
philanthropist who has made significant contributions to the technology industry. As one of the co-
founders of Microsoft Corporation, a famous American computer corporation, Gates has played a key
role in the shaping landscape of modern computers and the Internet. (Tran Thuy, 2023 )

During this time, Gates soon became fascinated with the most primitive computer models, which
sparked Gates' interests, the following interests This has brought glory to his name. In 1973, Gates
entered Harvard University to pursue a degree in computer science. He spent all his time playing poker
and learning the BASIC programming language. Patience and "steam" found an opportunity in the
personal computer business, he dropped out of school to start a computer software company with his
friend Paul Allen in Albuquerque. (Tien Phong, 2006)

Clearly, Bill Gates showed an interest and aptitude for programming from a young age. This
greatly influenced his success. They earned $16,000 in revenue in 1975. When the partnership between
Microsoft and IBM was established in 1980, DOS, the primary operating system for IBM computers, was
provided by Microsoft. This is a major breakthrough for Microsoft. Microsoft is currently the only PC
software standards holder with 60 million copies of Windows sold (Cowling, 2016). As he said, doing
something you love may not make you rich immediately, but it will inspire and ambition you to pursue
until success. Broadly speaking, it is possible to take out a loan, accept major financial risks to pursue the
dream of starting your own company, studying to improve your qualifications.... In fact, many people
have succeeded thanks to his main passion. ( Vnexpress, 2013 )
Steve Job :

Steve Jobs is known as an American inventor, designer and businessman. He is the co-founder,
chairman and former chief executive officer (CEO) of the famous technology company Apple Inc. He is
known as one of the most influential people in the current computer and smartphone technology
industry. Steve Jobs has the power to contribute in no small way to the success and growth of Apple and
technology products.

Steve passed the entrance exam to Reed College in Portland, Oregon, one of the famous schools.
However, after only one semester of studying, he decided to drop out. After studying, he enrolled in
several creative classes at the school, including a calligraphy course, and was very passionate about
research. It was thanks to that course that he chose a platform to create Apple's current typefaces.
Before founding Apple Inc, in 1973 Steve had his first job as a technician at Atari Inc. His first success at
that time was developing an extremely compact circuit board by eliminating about 50 chips. In 1976, he
and Wozniak co-founded Apple Inc in their home. Apple's first products were mainly circuit boards. In the
last months of the year, the first Apple I and Apple II computers were born and launched on the market.
From 1981 to 1983, Apple made a splash with the Macintosh personal computer product designed by
Steve Jobs and reached the top. However, soon after, Apple fell into a difficult situation when Steve Jobs
and John Sculley had two Different directions in running a company (Hoang Vui, 2023)

Jobs's success is a lesson for those who always know how to accept big risks, do not lose spirit despite
failure, and always move constantly to find the values they pursue and deal with the consequences.
errors that cause errors. It's easy to see that Steve Jobs had huge setbacks in his career, but he always
knew how to take advantage of the lessons from them to become stronger and more steadfast in the
face of possible failure in the future. The difficulties also made Jobs' ultimate victory all the sweeter. (Lam
Vy, 2021)

2.3 The entrepreneurial traits and characteristics of the chosen entrepreneurs

Technology Entrepreneurs :Bill Gates is perhaps the most famous billionaire in Silicon Valley, not
only as the co-founder and former CEO of Microsoft but also for his major contributions to charitable
causes. At present, billionaire Gates owns a fortune worth 111 billion USD (Dan Tri, 2022). He is also a
person who changed the world through his platform and revolutionized the technology sector through
his business.

Despite being anaccomplished CEO, Steve made some significant errors at Microsoft after his first
venture collapsed. According to Bill Gates, the$400 billion mistake he made at Microsoft was allowing
Google to create the Android operating system. Everyone is aware of the ongoing rivalry between the
two large corporations Microsoft and Apple, which dates back to the 1980s. Bill Gates and Steve Jobs
engaged in a bitter struggle for dominance of the nascent personal computer market. The fact that
Microsoft invested 150million in Apple in 1997 causes everyone's eyes to widen in shock. Protect Apple
from going bankrupt. Microsoft released Office2001 on Apple in 2000. Microsoft and Apple have since
worked together well for both parties' benefit. A new phase in their partnership began. He is also the
world's largest philanthropist. In 2000, the couple founded the Bill & Melinda Gates Foundation in
Seattle. He decided not to simply raise money for the hospital but to devote his time and enthusiasm to
investing in things that could "help people, Millions of people" escaped poverty and disease. (Chau An,
2015). I hope that by giving more, we can reduce the suffering that many people face and help realize the
foundation's vision - which is to give everyone the opportunity to live a healthy and productive life.”,
( Trang Linh, 2022)

Serial Entrepreneurs : Steve Jobs has a charismatic personality and the ability to inspire people. He
inspires people by setting an example. He is passionate about his work and takes the time to make sure
everything is done to the best of his ability. And he also had a way of making people feel like they were
part of something bigger than themselves. That's how Steve Jobs inspired people. Jobs had many
inspirational quotes for people, he once said: "Being the richest person in the cemetery is not important
to me." … Going to bed at night and saying we did something great – that's what matters to me

He used it to keep his spirits up in many situations; he was fired from Apple when he was just 30
years old due to his lack of empathy and other leadership abilities. Then, over the next 12 years, he
changed his abilities and style to fit the needs of the organization. “Sometimes life throws a brick at your
head. Don't lose faith. Steve Jobs is also a compassionate person. In light of his rarely publicized
philanthropic efforts, many have attested to Jobs' philanthropic nature. He has donated more than $50
million to Stanford hospitals through Apple and contributed to various projects to fight AIDS. As a
philanthropist, Jobs' goal was not to gain recognition but to help those who needed it.
2.4 Evaluating the similarities and differences between those entrepreneurial ventures and identifying
common traits and characteristics of entrepreneurs in those ventures
2.4.1 Evaluating the similarities and differences between those entrepreneurial ventures and identifying
common traits and characteristics of entrepreneurs in those ventures

The similarities and differences between entrepreneurial ventures

Similarities :Innovation and Visionary Leadership - Despite their differences in mission and
business models, share common ground when the threeorganizations come to innovation and visionary
leadership. Microsoft has a storied history of innovation, spanning from its early days with theWindows
operating system to recent developments like Azure cloud services and the HoloLens mixed reality
headset (Foley, 2019). Under theguidance of leaders like Bill Gates and, more recently, Satya Nadella, the
company has consistently pursued new technologies and markets (Craft, 2023). Similarly, Apple is
renowned for its trailblazing products, including the iPhone, iPad, and Mac computers (Newman,
2022).The late Steve Jobs was celebrated for his visionary leadership and ability to anticipate consumer
needs. Apple's current CEO, Tim Cook,continues to drive innovation while emphasizing sustainability in
its products and operations (Investopedia Team, 2015).

Global Impact - Another shared characteristic among these organizations is their global impact.
Microsoft has a pervasive global presence,providing software and services to businesses and individuals
in nearly every country. Its products, such as Windows and Office, are staples on aworldwide scale
( Ward, 2017). Apple's global influence is primarily tied to its iconic products, especially the iPhone, which
has had a profoundimpact on consumer technology worldwide (Molla, 2017). Apple's iOS ecosystem has
millions of users across the globe, and its extensive supplychain and retail presence further amplify its
global reach (Molla, 2017).

Philanthropic Initiatives - Furthermore, Microsoft, Apple, and Khan Academy all demonstrate a
commitment to philanthropic endeavors.Microsoft, through its Microsoft Philanthropies division, has
exhibited a strong dedication to charitable giving. The company announced acommitment to donate $1
billion in cloud computing resources to serve the public good (Center, 2016). Apple, too, has launched
multiplephilanthropic initiatives. These include the "Product(RED)" campaign to combat AIDS and efforts
to promote renewable energy within itssupply chain (Lim, 2022). Apple's establishment of a $100 million
Racial Equity and Justice Initiative underscores its commitment to addressingsocietal issues (Apple,
2021).
 Difference : The two businesses—Microsoft, Apple, —operate in different markets, and these
differences have a significant impact on their corporate cultures, innovation priorities, revenue models,
and target audiences, promote differentiated approaches. Through software licensing, subscriptions, and
enterprise solutions, Microsoft maintains broad revenue streams in the technology and software sectors.
Innovation, strategic alliances and serving both consumer and commercial markets are essential to the
company's business strategy. Apple, a technology and consumer electronics company, relies heavily on
its ecosystem strategy and hardware sales. This resulted in the company's plan focusing heavily on
marketing and design, with the main focus being on product sales and brand loyalty.

Founded year – Microsoft, established in 1975, was born amidst the burgeoning personal
computer revolution (Zachary and Hall, 2023). Co-founders Bill Gates and Paul Allen seized the
opportunity to develop software for the Altair 8800, one of the first microcomputers, before securing a
pivotal contract with IBM for an operating system, which eventually became MS-DOS (Zachary and Hall,
2023). This set the stage for Microsoft's dominance in the PC operating system market and the
subsequent development of Windows, cementing its position as a technology giant. In 1976, Apple Inc.
emerging with a different vision. Founded by Steve Jobs, Steve Wozniak, and Ronald Wayne, Apple aims
to create user-friendly, aesthetically pleasing computers (Levy, 2023). Their early products, such as the
Apple I and Apple II, emphasized design and innovation, setting Apple apart and ultimately leading to
iconic products like the Macintosh, iPhone, and iPad, shaping Apple as a leader in consumer electronics
and design (Levy, 2023).

Purpose is the defining aspect that differentiates these three businesses. Microsoft, a technology
giant, mainly focuses on developing software and hardware solutions for businesses and individuals,
aiming to enhance productivity and innovation across various fields (Zacharyand Hall, 2023) . On the
other hand, Apple is known for its commitment to designing and manufacturing consumer electronics,
emphasizing beautiful design and user-friendly interfaces that enhance people's daily lives and
experiences ( Levy, 2023).

2.4.2 Common traits and characteristics of entrepreneurs in those ventures

Entrepreneurs, regardless of their specific businesses, often have common characteristics and
qualities that contribute to their success in their respective fields. First and foremost, visionary thinking is
a common characteristic of these entrepreneurs. Steve Jobs revolutionized industries, possessing an
unparalleled ability to predict technology trends and consumer needs. Jobs famously said: “Innovation
distinguishes between leaders and followers.” He envisioned products like the iPhone and iPad long
before they became mainstream, and his relentless pursuit of innovation led to the creation of iconic
Apple products (Newman, 2022). Similarly, Bill Gates showed foresight when he realized the potential of
personal computers when they were still in their infancy (Zachary and Hall, 2023). He foresaw a future
where every home and office would have a computer, and he worked tirelessly to make that vision a
reality, becoming one of the richest individuals globally. Jobs focused on creating new products such as
the iMac, iPod, iPhone, and iPad (Levy, 2023). He transformed marketing and product design to create
anticipation and create a wave of innovation. Steve Jobs also embraced technological change, especially
with the development of the iPhone, an important turning point in the mobile industry (Bariso, 2018).
Adaptability, innovative spirit and willingness to embrace change have turned Apple from a difficult
situation into a leading technology corporation in the world. world. Bill Gates, through the Bill & Melinda
Gates Foundation, has made it his mission to solve the problems of global health, poverty and education,
demonstrating his commitment to making the world a place where better (Edwards, 2021). In short,
visionary thinking, adaptability, willingness to challenge norms and commitment to social responsibility
are the common characteristics that unite these outstanding entrepreneurs, Steve Jobs, Bill Gates, in an
effort to reshape the world through innovation. risk. These qualities not only determine their success but
also inspire the next generation of entrepreneurs to follow in their footsteps.

2.5 The concept of the entrepreneurial mindset

A growth mindset is the belief that one's abilities and intelligence can be developed through effort,
persistence, and learning from setbacks. Thismindset sees challenges as opportunities for growth and
views failure as a temporary setback from which one can learn and improve (Dweck,2006)

Growth mindset is the mental and emotional activities that awaken awareness about
entrepreneurship. From there, determine the right solution, have solutions to develop your strengths
and improve your weaknesses. ( Lam Bao Anh )

The fixed mindset, also described by Dweck (2006), believes that a person's abilities and intelligence
are fixed and cannot be changed. Individuals with a fixed mindset tend to think that their qualities, such
as intelligence or talent, are predetermined.

People with a fixed mindset have characteristics :People with a fixed mindset believe personal
characteristics cannot be changed no matter how hard they try. In their minds, there are also many other
possibilities such as: Always believe that intelligence and talent cannot be changed,Always try to avoid
challenges for fear of failure,Always pay attention to other people's comments because they themselves
see it as criticism,Always try to hide personal shortcomings for fear of being judged by others,Always feel
"threatened" by the success of others,Efforts for them are just useless,Easy to let go, easy to give up.
( icantech, 2023 )

2.5.1 People with a growth mindset have characteristics

People with a fixed mindset believe personal characteristics cannot be changed no matter how hard
they try. In their minds, there are also many other possibilities such as: Always believe that intelligence
and talent cannot be changed;Always try to avoid challenges for fear of failure;Always pay attention to
other people's comments because they themselves see it as criticism;Always try to hide personal
shortcomings for fear of being judged by others;Always feel "threatened" by the success of others;Efforts
for them are just useles;Easy to let go, easy to give up;( icantech, 2023 )

2.6 The effects of growth mindset and fixed mindset on the entrepreneurial process

Consulting on fixed mindset and growth mindset plays an important role in the startup process. This
trying mindset can determine that intelligence and talent are fixed and cannot be changed. Trying
thinkers constantly focus on proving their current abilities and avoid new formulations. They are afraid of
failure and do not face big risks and challenges. This prevents them from stepping out of their comfort
zone and from learning and developing during the startup process. In addition, a fixed mindset also limits
performance and adaptability. People with permanent consultants are often stuck in traditional ways of
working and unable to take advantage of new facilities. They are not flexible and find it difficult to adapt
to changes and difficulties in the business environment. At the same time, a fixed mindset also limits
creativity. Fixed mindset consultants constantly look for proven ways of doing things and do not try new
and groundbreaking ideas. In contrast to a fixed mindset, a growth mindset shows confidence in
intelligence and talent. can develop and improve through continuous learning, challenge and
development. People with a growth mindset are often confident and decisive. They believe they can
overcome difficulties and learn from every failure. This helps them overcome formulas and start their
businesses with fight and passion. A growth mindset also encourages looking for opportunities. The
growth mindset finds new opportunities and is not afraid to test groundbreaking ideas. They are willing
to search and explore new technologies and trends, thereby creating breakthroughs and development in
business. Furthermore, a growth mindset encourages creativity and flexibility. People with a growth
mindset can often find creative solutions to complex problems and adapt quickly to changes in the
business environment. People with a fixed mindset often focus on proving their current abilities and
avoiding new challenges. They are afraid of failure and do not dare to face big risks and challenges. This
makes them not dare to step out of their comfort zone and unable to learn and develop during the start-
up process. Fixed mindset and growth mindset play an important role in the startup process. People with
a fixed mindset are often afraid of failure, avoid new challenges, and do not dare to try breakthrough
ideas. Meanwhile, people with a growth mindset believe that intelligence and talent can grow through
continuous learning and development, and are willing to face challenges and explore new opportunities.
In his 2005 Stanford commencement speech, Steve Jobs once said: “It takes courage to follow your heart
and intuition. Only the heart and intuition can know what you really want to become” (Pham The Quang
Huy, 2011) A growth mindset brings flexibility, adaptability and creativity, important factors important in
the successful start-up process.

III CONCLUSION

The business idea will be to sell NAIL BOX items. To help people with business ideas, a canvas
model has been added to provide a detailed description in this article. In addition, the article also
provides an overview of entrepreneurship to provide insight for all those who are planning to start a
business and become leaders and managers in the future. The purpose of this article is to explain the
concept of entrepreneurship and how having an entrepreneurial mindset can help any company,
whether it is a startup or a public organization. or established company. Furthermore, the article will also
consider the talents, qualities and characteristics of entrepreneurs.
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