Read the extract below and answer

Meet Mindjoys Gabi Immelman

From a stick-on tattoo parlour and selling beaded jewellery, Mindjoy founder and CEO Gabi Immelmans entrepreneurial flair has been evident since she was a child. Now an adult who spent time in Palo Alto, the very centre of Silicon Valley, Gabi is responding to the lack of digital skills through her EdTech startup which teaches coding skills that will equip children for the future world of work which many would say is already with us. My mum was in sales and always encouraged me to find out what people value and what they would be willing to pay for. Starting in July of 2021, Mindjoy has been offering real-world skills in a child-friendly environment. Mindjoy aims to create learning environments that kids enjoy and are motivated to participate in by making it a delightful experience while building critical skills, says Immelman. Mindjoy recognises that learning is not a one-way, linear process. The goal is not only to play a part in closing the widening digital skills gap, but also to provide kids with learning experiences that are joyful, inspiring and collaborative. Here Gabi tells about her mothers influence, trends in the EdTech space and her advice to entrepreneurs wanting to get involved. Working in Silicon Valley gave me the opportunity to see what the future of education might look like: children learning asynchronously as digital natives in blended environments, and actively participating in learning communities. They value learning as something you do, not something done to you. It is this insight that makes Mindjoys approach to learning different. I was lucky to have FireID as support, but being a solo founder and working alone for a long time was hard. Since we hired our core team, the company has benefited from having diverse opinions and people to share and build a mission. Mindjoy aims to create learning environments that kids enjoy and are motivated to participate in by making it a delightful experience while building critical skills. We want to create an environment that is not person-dependent, where kids can learn skills in a scalable way. Since we cant scale developers, Mindjoy is building a scalable system that is focused on peer-to-peer learning. The goal is not only to play a part in closing the widening digital skills gap, but also to provide kids with learning experiences that are joyful, inspiring, and collaborative. In the next decade, programming will form part of most jobs in some shape or form. This means that millions more programming jobs will exist faster than traditional universities can train computer scientists. But you dont need to go to university to become skilled at it. There are a ton of resources and communities to connect to online and its one of the skills one learns best by doing. At the same time, too many students (especially low-income people) lack equitable access to high-quality computer science education. The economic opportunity is huge, but unless some things change, not everyone will get a fair chance to access their superpowers through coding. How did your experience with business ventures as a child shape you as an entrepreneur? My mum was in sales and always encouraged me to find out what people value and what they would be willing to pay for. I was encouraged way before every holiday to start thinking of my holiday business. I tried everything from car washing, making Christmas stockings, to baking cakes, making beaded jewellery, even selling stick-on tattoos which had excellent margins, and everyone wanted, so I stuck with that one for a few summers. Basically, I had to think about how I sell something people wanted, not just when I liked it or thought it was cool. Those businesses were where my entrepreneurial adventures began. Also, my mum made me manage my own pocket. Every year, I had to present my mum with a presentation, how much money I needed for pocket money, what I would be spending and how I was planning on managing it. I had to manage all my own expenses, which was an incredibly useful experience. It also taught me responsibility because if I misspent my money, there wasnt more. When I failed, I failed, and I had to learn. When I succeeded, she encouraged me to reflect on how you can do even better.

(Extract Mamabolo, 2022 - https://www.topbusinesswomen.co.za/meet-mindjoys-gabi-immelman/)

QUESTION 1 (600 words )

Based on the extract above, identify and discuss the four (4) contingencies in the entrepreneurial process.