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The Creative
EntrepreneurA Self-Assessment Tool
© Cida Co 2011 Created for Cida Co by Anamaria Wills and Lee Corner
The Creative Entrepreneur
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1
The Creative Entrepreneur
CONTENTS
Overview 2
Values-Led 3
Conceptual Thinking 4
Strategic Thinking 5
Commercial Aptitude 6
Project Management 7
Risk Taking 8
Customer Sensitivity 9
Networking 10
Leadership 11
Innovation 12
Action Plan and Review 13
Underpinning Knowledge 16
2
The Creative Entrepreneur
OVERVIEW
What makes a successful Creative Entrepreneur?
This booklet describes ten characteristics which we at CIDA have identified in the successful entrepreneurs we work with.
We have looked closely at each characteristic and analysed what it means and how we recognise it.
In this booklet we’re presenting these characteristics in a way which enables you – independently or with your Advisor – to look at what you do and how you do it, and to think about ways in which you can further develop your skills.
How it Works
Each characteristic is first described in terms of a standard. It is then broken down into elements, and against each element there are a number of indicators of effective performance. These indicators describe what you should be able to do if you are meeting the standard described.
There is a grid at the side of each indicator which is divided into “good; satisfactory; to be developed”. When you have worked through the elements with your advisor (or independently) and decided which areas you want to develop further, you can then use the Action and Review form (at the end of the booklet) to help you plan your development.
Finally, we suggest some exercises or techniques which will help you to develop your skills. Many of these are available on the internet and your Advisor will be able to help you select and work through the relevant sources.
Good luck on your journey to becoming a SUCCESSFUL ENTREPRENEUR!
3
The Creative Entrepreneur
1. VALUES-LED
The StandardThe entrepreneur has a clear sense of the values and beliefs that underpin the creative and business decisions that they make and that influence the actions they take, particularly when in difficult or challenging circumstances
Elements Indicators of effective performance Good
Satisfactory
To be developed
Has clarity of purpose through values and beliefs
You have thought about and identified the values you hold dear
You demonstrate your values through what you do and the way you do it, not only day to day but also in difficult or challenging circumstances
You communicate your values directly and indirectly through what you do and what you say
Uses the values to underpin decision making
You think about your values and how they might impact on your decision
You review your decisions to ensure that they align with your values
When you make decisions you make sure that they are consistent with your values
Ensures that the values influence all actions
You create action plans that are consistent with your values
You review your action plans to ensure that they remain consistent with your values
Your actions are always supported by your values
4
The Creative Entrepreneur
2. CONCEPTUAL THINKING
The StandardThe entrepreneur is prepared to use fresh approaches; comes up with crazy ideas that may just work, leading to radical change or significant improvements; and takes time to listen to new ideas without pre-judgement
Elements Indicators of effective performance Good
Satisfactory
To be developed
Uses fresh approaches You keep an open mind to allow possibilities to flow in
You see challenges as opportunities rather than constraints
You look at things from as many perspectives as you can
You look for patterns and connections that are not immediately obvious
Comes up with crazy ideas that may just work and lead to radical and or significant improvement
You brainstorm and use lateral thinking to stimulate ideas
You involve others to stimulate your thinking and ideas
You use experiences from other situations to throw fresh light on current circumstances
You follow through ideas to test their feasibility
Takes time to listen to new ideas without pre-judgement
You actively listen to others without making any assumptionsYou maintain an open mind to the suggestions of othersYou demonstrate that you value other people’s ideas and give positive and constructive feedback
5
The Creative Entrepreneur
3. STRATEGIC THINKING
The StandardThe entrepreneur understands and values the planning process, thinking and planning over a significant timescale; recognises external trends and opportunities; and is able to think through any complex implications for the business
Elements Indicators of effective performance Good
Satisfactory
To be developed
Understands and values the planning process
You are able to define what success means to you so that you have clear goals to plan for
You identify routes for getting from where you are to where you want to be
You familiarise yourself with the journeys other people in your field have taken and evaluate their relevance to your journey
Recognises external trends and opportunities
You are aware of the world around you and think about how it impacts on what you do
You identify key trends in the wider environment including social, technological, environmental, educational and political and legal areas
You read, listen and talk to other people so that you are informed by a wide range of views and experiences
Able to think through complex situations and implications
You take time to think through complex issues and the implications that affect your strategic plans
You research and learn about the market you are in and about your competitors and use that knowledge in your planning
6
The Creative Entrepreneur
You collect information and use it to understand and analyse complex situations
7
The Creative Entrepreneur
4. COMMERCIAL APTITUDE
The StandardThe entrepreneur keeps up to date with developments in the sector; seeks out best practice; and identifies and seizes opportunities that are not obvious to others
Elements Indicators of effective performance Good
Satisfactory
To be developed
Keeps up to date with developments in the sector
You read specialist journals, trade magazines, and online information sources relevant to your sector
You research and analyse the competitive forces that influence your market
Seeks out best practice You read professional journals, attend conferences and other events to keep your knowledge up to date
You record good ideas, and useful ways of doing things that other people have used to build a resource for your future use
You ask for help and advice from people who are more experienced than you
8
The Creative Entrepreneur
Identifies and seizes opportunities
You actively look for new possibilities and openings in the market
You adapt your plans or approaches to make the best of new opportunities
You use your relationship with existing customers to learn about what they want/need so that you can develop new products or services You keep up to date with how new developments in ICT can help your business
9
The Creative Entrepreneur
5. PROJECT MANAGEMENT
The StandardThe entrepreneur understands how to make things happen, turning ideas into reality with the help of teams and planning and monitoring implementation
Elements Indicators of effective performance Good
Satisfactory
To be developed
Understands what is required to make things happen
You define and plan the size and scope of the project
You identify what resources you need to implement the plan: money, people, time, equipment
You seek out and put in place the resources you have identified as being necessary to make the project happen
You hold onto the big picture while ensuring that attention is paid to the detail
Turns ideas into reality You use your understanding of team dynamics to select and manage the right team for the job
You effectively manage resources: money, people, time, equipment
You negotiate and reach agreements that facilitate successful delivery of the project
Monitors implementation You introduce systems and processes to ensure clear communication and understanding between people
You build into the process opportunities to review and adaptYou evaluate the effectiveness of project planning, identifying and sharing the learning
10
The Creative Entrepreneur
6. RISK TAKING
The StandardThe entrepreneur takes informed and calculated risks to achieve measured gains by challenging the status quo; confidently looking for opportunities to achieve goals
Elements Indicators of effective performance Good
Satisfactory
To be developed
Takes informed and calculated risks to achieve measured gains
You confidently use risk assessment procedures
You focus on being risk alert rather than risk averse
You stay focused on the goals and think clearly when under pressure
Challenges the status quo to acknowledge the need for change
You challenge your own and the thinking of others
You question assumptions in your own thinking and that of others
You operate from the hope of success rather than the fear of failure, seeing opportunities rather than threats
Seeks opportunities to achieve goals
You seek out fresh ideas from a variety of sources
You pursue your goals, seeing obstacles and setbacks as challenges to be overcome
You enlist the support of others to achieve your goals
11
The Creative Entrepreneur
7. CUSTOMER SENSITIVITY
The StandardThe entrepreneur builds trust and long term relationships with customers; generates an expectation of high level customer service; and regularly exceeds customer expectation
Elements Indicators of effective performance Good
Satisfactory
To be developed
Builds trust and long-term relationships with customers
You identify opportunities to develop relationships with your customers to understand their real and underlying needs
You use market research processes to understand and define customer needs
You develop your existing products or services and devise new products and services to meet customer needs
Generates a high level of customer service
You regularly communicate with your customers through a variety of means
You ask for feedback from customers to constantly improve service standards
You deal promptly with customer complaints and provide suitable solutions
Regularly exceeds customer expectation
You remain focused on and inspired by your customers
You look for opportunities to go the extra mile for your customers
You regularly take actions that surprise and delight your customers
12
The Creative Entrepreneur
8. NETWORKING
The StandardThe entrepreneur understands that networking is a key business activity which can provide access to information, expertise, collaboration and sales; and that careful planning and preparation helps to achieve desired results
Elements Indicators of effective performance Good
Satisfactory
To be developed
Understands that networking is a key business activity and considers what it can provide
You identify where networking opportunities exist
You review the opportunities, costs and benefits of developing new contacts and networks
You use your networks to understand the influences that shape the views and actions of clients, customers and competitors
Plans and prepares for networking so that it achieves the desired results
You actively seek out and maintain informal networks, seeking relationships that are mutually beneficial
You develop relationships with network contacts in a way that builds mutual trust and confidence
You keep a record of the contacts you have made and have systems for keeping in touch with them
You maintain systems for recording information gathered from your networking opportunities so that it can be used to develop your goals
You consider how new contacts add value to the products or services you provide to customers
13
The Creative Entrepreneur
9. LEADERSHIP
The StandardThe entrepreneur sees and values the best in others; builds the total capability of the immediate and wider team; and always considers the principles of inclusiveness in planning and dealing with others
(NB: The word “Team” as used below may refers to employees, partners, suppliers or other project colleagues as appropriate)Elements Indicators of effective performance Good
Satisfactory
To be developed
Sees and values the best in others
You understand the principles of leadership and team work so that you can apply them when required
You create and maintain a culture of mutual respect and recognition
You encourage and support others to make best use of their capabilities
You always remember to acknowledge other peoples contribution
Builds the total capability of the team
You demonstrate and communicate your vision, encouraging ownership of your goals
You encourage your team to take-up professional development, networking and training opportunities as appropriate in furtherance of your goals.
You empower, motivate and support others in their work and recognise and celebrate their successes
Adopts the principles of inclusiveness in planning and dealing with others
You are consistent, open and fair in your dealings with others inspiring respect and credibilityYou create an environment where people of diverse backgrounds can thrive
14
The Creative Entrepreneur
10. INNOVATION
The StandardThe entrepreneur uses their imagination to develop new and different thinking; ideas and insights that can be turned into practical delivery of products and services; business processes and new relationships that have the potential to add value
Elements Indicators of effective performance Good
Satisfactory
To be developed
Uses imagination to develop new and different thinking, ideas and insights
You explore different business solutions to challenges rather than using the most obvious methods
You are radical and unrestricted in your creative thinking
You use systematised innovation processes to develop yours and others’ creative thinking
You are open, receptive and positively encourage the ideas of others (team, clients, advisors etc)
Turns innovative ideas into practical products, services, business processes and new relationships
You assess the benefits and risks of new ideas which will benefit your customers
You take calculated risks to turn desirable innovations into practicalities
Ensures that innovative products have potential to add value
You distinguish between ideas that are interesting and those that are important
You evaluate the success or failure of new ideas to develop your learning for future projectsYou ensure that your innovations are consistent with your values and beliefs
15
The Creative Entrepreneur
ACTION PLAN AND REVIEW
Use this action plan with your advisor to identify the areas that you need to focus on in order to meet the standards
StandardElements:
Why I need to develop this(what will the benefit be to my business?)
Action(what do I need to do to improve in this area?)
By when?(if I give myself a timescale it will help me focus)
With whom?(is there anyone who could help me with this?)
Resources needed:
The Creative Entrepreneur
Review date for action plan:
Action plan approved by: Date action agreed:
Use this action plan with your advisor to identify the areas that you need to focus on in order to meet the standards
The Creative Entrepreneur
StandardElements:
Why I need to develop this(what will the benefit be to my business?)
Action(what do I need to do to improve in this area?)
By when?(if I give myself a timescale it will help me focus)
With whom?(is there anyone who could help me with this?)
Resources needed:
Review date for action plan:
Action plan approved by: Date action agreed:
The Creative Entrepreneur
Use this action plan with your advisor to identify the areas that you need to focus on in order to meet the standards
StandardElements:
Why I need to develop this(what will the benefit be to my business?)
Action(what do I need to do to improve in this area?)
By when?(if I give myself a timescale it will help me focus)
With whom?(is there anyone who could help me with this?)
Resources needed:
Review date for action plan:
The Creative Entrepreneur
Action plan approved by: Date action agreed:
The Creative Entrepreneur
Underpinning Knowledge
The following exercises and techniques will help with in the development of skills and aptitudes for the standards described above:
Defining values
Brainstorming techniques
Strategic planning processes including PESTLE, SWOT and SMART Goal Setting
Competitor analysis
Project management systems
Evaluation techniques
Options appraisals
Risk assessment techniques
Customer relationship marketing
Leadership styles
Team building
Equal opportunities practice
Mind mapping
Lateral thinking
Learn more about mission, vision and values for your creative business! http://www.slideshare.net/CIDADawn/mission-vision-values-32765996