Jay Healy
P3 & M2
P3 & M2
The business firstly will need my contributions; as the owner it’s my responsibility to do
everything in my ability to make this business thrive. Technically I’m not an expert I am
however able to use Microsoft Software such as Word and Excel which enables me to do
the paperwork side of things e.g. writing reports, and most importantly keep record of the
finance side of the business as I am able to create a cash flow on Excel as well as a Profit
and Loss account. Basic understanding of the internet will also go a long way in my
business as we have a website and do sell online, simple things like talking to customers
via e-mail and knowing how to use a site will help massively and will selling products much
more efficient.
Communication is also another strength on mine, which as an owner I will be using on a
day to day basis whether that being when speaking to customers, staff or even my
accountant. I will have to communicate with staff, if I have to tell someone off then I
need to be wary of how I’m coming across, I don’t want to be too aggressive to my staff as
they are still under my employment and I want them to do the best they can for me but I
must be assertive with what I’m saying. I need to recognise who I’m talking to, whether
that being male, female, child, young, old I must adapt my tone and speech for every
customer that walks through that door. If I do this, this will create a good relationship
with the customers hopefully creating loyalty meaning they will continue to shop with me.
An IT area which will need improving for my sake is knowing how to use a website to its
full capacity. Firstly, I need to know how to create one, I know there are many sites on
the internet which help you create one but those sites are simple. I need someone to
come in and help me create a top class site which shines head and shoulders above the
other boxing outlets like BoxFit and Sugar Rays. I feel this would have great impact on the
business as a good website will attract customers instantly and as a new business we want
as many customers as we can possibly get; and of course the more customers we have
visiting our site the more chance we have of selling our products increasing our cash flow
and simultaneously if customers are satisfied with the fast delivery and the products at
the end then out reputation also. (M2)
Although I said that I knew how to create profit and loss accounts, I am still not very
confident in the finance aspect. This could heavily affect my business as if I’m not
calculating my numbers properly then I could sitting thinking I’m in profit when really I’m
at a loss, not knowing this could really hinder the business as money would become a
problems. Unlike however if I had an accountant who could calculate all these numbers
and assure me where my money is at and let me know whether the business is in a healthy
financial state then the activities and day to day spending’s on the business can continue
without the doubt on whether the numbers are correct or not. (M2)
The one thing that will help the business succeed is the fact that I know my stuff. My
boxing knowledge is second to none, I know every product inside out. Knowing my
products while speaking to customers will then allow me to build a trusting relationship,
furthermore down the line I hope to turn this into loyalty. This will assist massively with
personal selling as I can use my product knowledge to persuade customers to buy my
products. If I sound legit and sound like I know what I’m talking about then customers will
me more likely to buy.
P3 & M2
P3 & M2
The business firstly will need my contributions; as the owner it’s my responsibility to do
everything in my ability to make this business thrive. Technically I’m not an expert I am
however able to use Microsoft Software such as Word and Excel which enables me to do
the paperwork side of things e.g. writing reports, and most importantly keep record of the
finance side of the business as I am able to create a cash flow on Excel as well as a Profit
and Loss account. Basic understanding of the internet will also go a long way in my
business as we have a website and do sell online, simple things like talking to customers
via e-mail and knowing how to use a site will help massively and will selling products much
more efficient.
Communication is also another strength on mine, which as an owner I will be using on a
day to day basis whether that being when speaking to customers, staff or even my
accountant. I will have to communicate with staff, if I have to tell someone off then I
need to be wary of how I’m coming across, I don’t want to be too aggressive to my staff as
they are still under my employment and I want them to do the best they can for me but I
must be assertive with what I’m saying. I need to recognise who I’m talking to, whether
that being male, female, child, young, old I must adapt my tone and speech for every
customer that walks through that door. If I do this, this will create a good relationship
with the customers hopefully creating loyalty meaning they will continue to shop with me.
An IT area which will need improving for my sake is knowing how to use a website to its
full capacity. Firstly, I need to know how to create one, I know there are many sites on
the internet which help you create one but those sites are simple. I need someone to
come in and help me create a top class site which shines head and shoulders above the
other boxing outlets like BoxFit and Sugar Rays. I feel this would have great impact on the
business as a good website will attract customers instantly and as a new business we want
as many customers as we can possibly get; and of course the more customers we have
visiting our site the more chance we have of selling our products increasing our cash flow
and simultaneously if customers are satisfied with the fast delivery and the products at
the end then out reputation also. (M2)
Although I said that I knew how to create profit and loss accounts, I am still not very
confident in the finance aspect. This could heavily affect my business as if I’m not
calculating my numbers properly then I could sitting thinking I’m in profit when really I’m
at a loss, not knowing this could really hinder the business as money would become a
problems. Unlike however if I had an accountant who could calculate all these numbers
and assure me where my money is at and let me know whether the business is in a healthy
financial state then the activities and day to day spending’s on the business can continue
without the doubt on whether the numbers are correct or not. (M2)
The one thing that will help the business succeed is the fact that I know my stuff. My
boxing knowledge is second to none, I know every product inside out. Knowing my
products while speaking to customers will then allow me to build a trusting relationship,
furthermore down the line I hope to turn this into loyalty. This will assist massively with
personal selling as I can use my product knowledge to persuade customers to buy my
products. If I sound legit and sound like I know what I’m talking about then customers will
me more likely to buy.
