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1. Preliminaries
Before you begin this Start Your Own Business Programme, we suggest that you take time to read through each of the following items so that you can familiarise yourself with the programme and how it operates. Some of these preliminaries may require your consent before progressing to the next item.
- Let’s get started
- PortfolioTest
- Terms and Conditions
- How this programme can help you
- How the programme works
- What resources do I need to participate in this training programme?
- How we will support your learning
- A contract of learning
- Self learning tips
- Non Disclosure arrangements
- What happens if I change my business idea mid programme?
- Could you be an entrepreneur?
- How do I get help if I’m stuck?
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2. Getting Started
- Ideas generation and assessment
- Risk/benefit assessment
- Personal motivation
- Motivation, self discipline, conditioning
- Self Sufficiency
- Coping with business cultures, vocabulary, ethics, business models
- Resilience and self belief
- Professional competencies and business skills audit
- Rotating your head 180 degrees
- Playing to your strengths – Getting your own attitude right
- The importance of the Business Planning process
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3. Researching Your Market
However good your product or service is, the simple truth is that no-one will buy it if they don't want it or believe they don't need it. And you won't persuade anyone that they want or need to buy what you're offering unless you clearly understand what it is your customers really want. Knowing and understanding customer needs is at the centre of every successful business, whether it sells directly to individuals or other businesses. Once you have this knowledge, you can use it to persuade potential and existing customers that buying from you is in their best interests.
- What is Market Research ? An Introduction
- Why conduct Market Research?
- What to research e.g. competitors, customers, market size etc
- Research Types – Primary, Secondary, Qualitative & Quantitative
- Practical approach to Market Research
- Most common Research Methods
- Where to find Market Research information?
- Carrying out a PEST analysis and SWOT analysis
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4. Cash flow forecasting
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5. Sales Forecasting
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6. Practical Marketing for the business start-up
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7. Selling
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8. What do I need to operate the business?
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9. Building the Business Plan
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10. Legal Entities
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11. Locating the Business
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12. Sources of Support
How the programme works
This “Start Your Own Business” programme is made up of a series of modules spread across the following five subject matter areas:
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Finance
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Marketing
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The Product or Service on offer
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How the Business will operate
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and the People/Roles involved in the start up business.
Each of the above subject matter areas or pillars of business are then broken down into smaller specialist areas – for example Finance breaks down into Financial Planning, Financial Management and so on while Marketing breaks down into Market Research, Selling and Marketing operations.
Each of these five pillars of business are interconnected and are key elements in the business planning process – hence their importance in the whole process of starting a business.
In the course of the programme, each participant will navigate their way through each of the key subject matter areas and from time to time, their understanding of the subject matter involved will be tested by means of a short quiz, multiple choice questions or a short assignment.
Some of these may even be against the clock!
Progression to the next lesson may depend on the participant’s score.
Participants can make their way through this programme at their own pace and complete it within their own timescale. Each person has their own individual learning curve – however, it is recommended that participants go on-line each day and cover as many modules or specialist subject matter areas as time permits.
On completion of the programme, participants should be able to:
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understand the business planning process
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prepare a business plan
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clearly understand the need for market research
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appreciate the interlocked nature of the business pillars
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be in a position where they can test the viability of the business proposition
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assess the potential risk and the potential benefit of the proposition.
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start trading as soon as possible