Entrepreneurial skills

This skill set addresses the skills, knowledge and performance requirements to identify an unfulfilled need in a market, evaluate current alternatives, and develop systems to create innovative new alternatives as part of project planning and approval processes.

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This skill set focuses on learning current industry practices, and how to:

  • identify and evaluate marketing opportunities to determine whether they can meet organisational objectives
  • document how current business operations need to be modified, and list resources required, to take advantage of newly identified and evaluated opportunities
  • design a new system for the organisation that clearly support s innovation, is  innovative and is based on:
    • analysis of the organisation’s objectives, current systems, resources and barriers in relation to innovation
    • individual and group techniques with stakeholders to generate, test and evaluate several concepts and options for the new system
  • consult with and analyse and integrate feedback from relevant stakeholders to develop a plan for the new system that addresses:
    • the need for external assistance
    • the impact of the new system on people, resources and other organisational practices
    • budget, timelines, responsibilities
    • a communication strategy
    • a learning and development strategy
  • trial the new system including taking account of all consultative, coaching and technical issues and review it in relation to its goals for fostering innovation
  • open the improvement process to ongoing collaborative input and challenge
  • adjust system to reflect evaluation feedback
  • report on activities undertaken to establish a marketing mix in an organisation, including information on each element of the mix, such as:
    • customer service levels
    • product or service distribution
    • product or service pricing
    • additional products or services, if any
    • product or service promotion
  • report on success of marketing mix activities developed, including coverage of any necessary adjustments made

The units covered can be used to work towards qualifications including BSB50215 Diploma of Business, or BSB51915 Diploma of Leadership and Management
Units of Competency:

  • BSBMKG501 Identify and evaluate marketing opportunities
  • BSBINN501 Establish systems that support innovation
  • BSBMKG502 Establish and adjust the marketing mix

Here are some links for training and resources. More links and discussions are available in the trainerpd.com member’s areas:

Interview with Ethical Entrepreneur DanielB:

Meetup Group (Brisbane): The Push


Start-up incubators: River City Labs


Here is a model to use  to analyse competitive forces within an industry to identify marketing opportunities, and adjust your marketing mix accordingly.

Do start-up businesses need a bookkeeper as well? How can they help? Here’s Brett’s chat with Troy from Troy’s Bookkeeping to find out.