Stashko Dima- Enterprise

Enterprise is - Enterprise is a term commonly used to refer to a business organization or

commercial entity involved in economic activities primarily aimed at generating revenue and
profits. These businesses come in various sizes and scopes, ranging from small, locally
owned establishments to large multinational corporations. They typically engage in the
production of goods, the provision of services, or a combination of both, all while adhering to
regulatory guidelines. Ownership structures for businesses can vary, including sole
proprietorships, partnerships, corporations, and other legal forms, often accompanied by
distinct organizational hierarchies involving employees and management teams. The concept
of enterprise encompasses a diverse array of enterprises and economic pursuits that
collectively contribute to the broader economy
There are for types of enterprise:

sole proprietorship - is a type of business structure in which a single individual owns and
operates the business. In this form, there is no legal separation between the business and its
owner, making it the most straightforward business structure. It goes by various names,
including individual entrepreneurship, sole trader, or proprietorship. The business owner,
often referred to as the proprietor or trader, conducts business using their legal name.
Alternatively, they can opt to use a different business name by registering a trade name with
the local authority. This business structure is known for its simplicity and affordability, which
is why it's a popular choice among small businesses, freelancers, and self-employed
individuals.

Partnership created when two or more people decide to launch a business collectively.
Unlike some business structures, a partnership is not considered a distinct legal entity and
typically does not require specific formal documentation to establish, although it is advisable
to have a partnership agreement in place.

A limited - company represents a type of business entity that holds a legal distinction from
its owners, typically shareholders, and the individuals appointed to manage it, known as
directors. Its primary distinguishing feature is the concept of limited liability, which will be
elaborated on below.

Public limited company -similar to a private company limited by shares, a public

limited company is owned by its shareholders, which can be a single shareholder, and it is
managed by its directors, all enjoying the benefit of limited liability. While many aspects of a
plc resemble those of a private company, this article explores what sets a public limited
company apart and the specific criteria it must fulfil. In another section, we examine the pros
and cons of a plc in comparison to a private limited company.

A distinctive feature of a public limited company in the UK is its ability, if it so chooses, to

offer its shares to the public as a means of raising capital for business purposes.
An entrepreneur - is someone who assumes the responsibility of organizing, overseeing,
and embracing the uncertainties involved in a business or the launch of a new startup.
Entrepreneurs are frequently linked with creativity and originality, as they spot fresh
prospects, conceive innovative concepts, and bring added value to the market. Their
motivation stems from a vision for their business, and they are prepared to dedicate their
time, resources, and dedication to transform that vision into a tangible enterprise.

Rule of Tum
A Rule of Tum was established by the Kirk brothers, Dorian and Edwin, in collaboration with
their friend Jon Stead. Subsequently, Jon decided to pursue his own projects, and Rupert
joined the team, forming the current board of directors. Their journey began in 2013 with a
series of highly successful supper events and Sunday lunches held at Dunkerton's Farm in
Pembridge, Herefordshire. These events gained tremendous popularity and provided the
initial momentum to launch their business with a more permanent food offering. Dorian, who
had prior experience in opening and managing restaurants in London, saw a clear need for
improved dining options in his hometown of Hereford. This realization motivated him to
return and initiate the A Rule of Tum project alongside his brother, Edwin. Edwin, with his
extensive background in the hospitality industry, brought valuable expertise in business and
restaurant management to the venture. Jon, who had closely collaborated with Edwin,
contributed his talents in design, branding, and social media to the group. In 2014, Dorian,
Edwin, and Jon established a presence at a local micro-pub called The Beer in Hand. Here,
they introduced "Burger Thursdays," featuring a London-style burger with a distinctive
Hereford twist. It quickly became a hit, drawing packed crowds' week after week. As demand
grew, they expanded their team, with Colin, who now serves as our Marketing Manager,
becoming their first employee. They hired several full-time and part-time workers, allowing
them to broaden their operations. This expansion included offering a delectable Sunday
Lunch, Tapas Night, Fish Friday's, and Pie Night. In addition to their regular operations, they
also participated in various festival pop-ups and catered weddings in and around Hereford.
This included a high town burger pop-up, events like Rock the Farm Festival, and Shackfest.
All of this was accomplished from a compact kitchen in the heart of Hereford, without proper
ventilation. Clearly, Hereford had a strong demand for exceptional dining, and using their
initial funds, A Rule of Tum successfully acquired, renovated, and launched their first Burger
Shop on Aubrey Street in Hereford. Burger Shop Hereford opened its doors in November
2014, quickly attracting long queues and building a highly satisfied customer base. Fans
could now enjoy Burger Shop's delicious offerings five days a week. As the restaurant's
popularity surged, so did the team, with more staff coming on board to meet the increasing
demand. The excitement reached a pinnacle when renowned restaurant critic Jay Rayner
visited and wrote a glowing review for The Guardian, praising Burger Shop for its
"remarkable dedication to perfecting the seemingly simple, earning it a gold star and a
resounding endorsement. "Initially, the restaurant operated five days a week, but it soon
expanded to seven days, regularly introducing special menu items like the Kimchi Burger,
Chimichurri Burger, and Cauliflower Cheese Croquettes. In 2016, as Burger Shop continued
to thrive, they seized the opportunity to convert an adjacent old bookshop into a second prep
kitchen, supporting the restaurant's growing needs. The bookshop underwent a remarkable
transformation, featuring exposed brick walls, a stylish concrete bar, and a floor-to-ceiling
bookcase as a tribute to its literary heritage. Fuelled by their passion for food, artisans,
makers, and restaurants, the inaugural Hereford Indie Food Festival emerged in August 2016.
The space behind Burger Shop and The Bookshop was ingeniously transformed from an
overgrown parking area into an extraordinary festival celebrating music, food, and culture.
The festival quickly gained popularity, attracting 4,000 visitors to Hereford the following
year. Alongside the festival, a zine was introduced to showcase Hereford's offerings,
featuring articles on suppliers, makers, and restaurants. While Hereford Indie Food took a
brief hiatus, it is poised for a return in 2022, promising an exciting revival.

The importance of taking risks into account for an entrepreneur can be demonstrated by the
example of the development and release of a new product to the market. this can help
minimize potential losses and ensure more successful business management

Example: rule of tum

Dorian Kirk and Edwin Kirk, Jon Stead, together with Jon later, opened their local restaurant
in Hereford. Rule of Tum was good in terms of menu and quality, because their main food
was fast food and therefore it was considered as a feature that it could be tasty and fast mill.
Important risks that the owners faced and how they took them into account: Technical risks:
The first menu was perhaps not ideal because it was not yet finished and there was not a large
selection of burgers as there is now. They took this into account when working to improve
their menu. Competitive risks: At the end of 2013, the market was already quite saturated
with competitors such as KFS McDonald's and so on. But they were able to take into account
the competitive aspects by developing menus that stood out with stylish design, tasty and
fast-food preparation. Marketing risks: An important part of the success of rule of tum was
successful marketing campaigns, going to festivals to advertise their products, discounts and
a well-designed restaurant in the middle. The owners actively took into account marketing
risks and paid great attention to the company’s branding (having their own menu, beautiful
interior, food preparation, quality of products) By recognizing and managing these risks, they
were able to create and develop rule of tum into one of the most successful local businesses
in Hereford. Their ability to see and assess risks and take appropriate action has played a key
role in achieving this success. The founders, Dorian and Edwin Kirk, along with their team,
have demonstrated a deep passion and unwavering commitment to their business. This fervor,
coupled with their culinary creativity, has been a significant driving force behind its
achievements.

Why Rule of Tun has been successful

A Rule of Tum has gained a reputation for its exceptional and delectable cuisine. They place
special emphasis on sourcing local, seasonal ingredients and crafting dishes with care and
innovation. The excellence of their food has cultivated a devoted clientele and drawn in fresh
patrons. They frequently update the menu at their restaurants, introducing a new variety of
burgers every week, highlighting their team's commitment to innovation. They actively
participate in festivals to promote their enterprise, give interviews, and emphasize the
importance of customer opinions and comfort in their establishments. They offer a varied
menu and a cozy interior. The use of high-quality ingredients underscores their commitment
to customer satisfaction. The staff is not only friendly, but also efficient, which contributes to
a pleasant time in the establishment.

Review from the site

Great food. Great service. Lovely, relaxed atmosphere!

We ordered a buffalo chicken burger, a buttermilk chicken burger, rosemary fries, sweet potato
fries, coleslaw which was refreshing and delicious, made with mint. Cheese curds with a spicy
salsa, which were amazing! We drank mocktails.

Founders Dorian and Edwin Kirk, along with their team, have demonstrated a remarkable
level of passion and commitment to their business. This fervour, when combined with
culinary inspiration, has been a pivotal factor in their success. They also recognize the
significance of their role in providing employment opportunities and contributing to the local
economy through taxes. This perspective underscores the importance of examining the
mindset of entrepreneurs and how it can influence their belief in their capacity to succeed.
Entrepreneurs with this mindset perceive challenges as chances for growth and view failure
as a valuable learning experience. They prioritize vision over perfectionism, enabling them to
make informed decisions and foster innovation in the face of adversity. This mindset isn't
limited to business; it can lead to success in various aspects of life. Effective soft selling
skills are closely tied to the communication necessary for achieving success. Entrepreneurs
must be adept at selling products or ideas. The journey of entrepreneurship is characterized
by both triumphs and setbacks. Successful entrepreneurs maintain focus, especially during
challenging times, and remain steadfast in pursuit of their goals. Emotional stability is a key
skill in handling the emotional rollercoaster of entrepreneurship. Furthermore, the ability to
learn is invaluable, especially in entrepreneurship. Entrepreneurs must be open to learning
from every experience, even failures, as it contributes to their growth and understanding of
the business. Failure, when embraced as a learning opportunity, can expand one's knowledge
and contribute to entrepreneurial success. And as mentioned above identify a market and
consider the risks.