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Start Your Own Business An Overview

Start Your Own Business An Overview. September 2013. I want to understand. Mark an X along each line to show where you fit most comfortably. What does this tell you about yourself? What will you need to change to succeed in business? How might you change?. Market Positioning. High

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Start Your Own Business An Overview

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  1. Start Your Own BusinessAn Overview September 2013

  2. I want to understand

  3. Mark an X along each line to show where you fit most comfortably. What does this tell you about yourself? What will you need to change to succeed in business? How might you change?

  4. Market Positioning High Perceived Value Waitrose Sainsbury Tesco Aldi Poundland Low Delivered Cost

  5. In Pairs…. Explain your business idea Listen to your parner’s investment reservations. Might you be able to work together. • Do you have an enterprising idea? • Can you explain what it is? • What is the product/service/trade? • Who is it for? • What investment does it need?

  6. If you don’t have an idea – Pair up with an “entrepreneur” Imagine you are an investor (Dragons Den!) – but … your money is precious – Imagine you have just bought your first house or car. Are you prepared to put it up as equity in order to invest in your partner’s idea?

  7. Enterprise WeekMonday 18th – Friday 22nd November 2013 What could we organise as a group? • Workshop? • Debate? • Conference? • Dragon’s Den? • Competition? • Some Research? • Business service ?

  8. Pitching hints and uses.

  9. Starting your own BusinessSome Quick Thoughts

  10. Business Plan Structure • Contents – • Use the Word Index tool to create automatic contents. • Executive Summary • – summarises the main points of the plan. Do last! • Introduction • About you; the setting, the background, the context. Do last! • The business idea • What will it do? Why? • What is the offer? • To whom? Who are the customers? • The Market • Market research • What has been undertaken? • What is research based on? • What needs to be done? • Describe the market • Identify competitors and product substitutes • Describe the gap in the market • Set up • Timetable • Purchases • Company formation? • Finance • Personal cashflow first year • Sales forecast first year; two years; five years? • Profit & Loss forecasts • Business cashflow – two years? • Funding requirements • Proposition

  11. Office Essentials

  12. Self Management – Urgency/ Importance Matrix

  13. Expanding Your Horizons Choices Freedom to think! Demands Must do these things. Constraints

  14. Start Your Own BusinessAn Overview

  15. Web Business Different reasons for having a web presence To sell my products and services To reassure my clients To provide a backdrop to my services To impress my suppliers To impress competitors To attract funding To inform specific types of clients about my business To provide an information service Four Functions: Yellow Pages – Listings; Google etc.. Shop window – leading to Mail Order, online payment facility? Library – Information Resource Club - Network Features Advertising Notifications, news, offers List of Products & services Specifications Completing sale, confirmation, online payments. After care – information, updates, enquiries. Link to – complementary services & products. Link from - complementary services & products. Monetisation Advertising space (advertising revenue or commission based) Membership Direct Sales Marketing tool – (cost) Essentials Home - clear Contact with email Products & services News? Links? Breadcrumb logic Copying others layout.

  16. Funding Possibilities

  17. Match funding

  18. Over to You… Starting your own Business

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