1. Identify and briefly explain the ‘people-related issues’ that are important for setting up and running your own business (from a start-up business perspective). In particular consider the importance of your personal motivation, having the right state of mind, work-life balance and the requirement you may have as a business owner to lead and influence others. Explore in detail two of the above issues you believe will be most critical for you personally, given your specific business idea. By drawing on best practice examples from other successful start-up companies, show how you can potentially overcome or mitigate against these issues and discuss the impact this may have on your future business performance.

2. Explain briefly with evidence and examples from the module, where appropriate what you understand by the term lean start-up and how the principles of lean start-up work alongside business planning. Create a useful summary business plan for your business, stating clearly your assumptions. The main outputs and focus for the PMA should be on producing a) a practical action plan to get you to a position where you can start trading and b) a cash flow statement, taking into consideration what you will need to invest in at start up, as well as what income and expenditure you expect or will need to have in the first 12 months of operating your business.