STARTING A SMALL BUSINESS VBS101

Avoid Mistakes

How Do I Start a Business?

INCREASE THE ODDS FOR SUCCESS! This course is a UNIQUE BUSINESS START-UP guide!

Be your own boss! Having your own business means that you make the decisions and you reap the benefits from your own hard work. It is the chance to forge your own career on your terms. Imagine never having to answer to a boss again. Anyone can start up a new business - all it takes is a good idea, knowledge, and a little support.

This course gives you the opportunity to learn how to start a business under the guidance of a professional business expert. You will plan and initiate development of a business venture!

This course takes you step by step through all the process of starting up a business to maximise your chances of success.

You will learn how to start your own business, or you can choose to review the running of an established business. Your tutor will guide you through several stages which assess, analyze and improve operations in this "real life situation".

Small Business Course

Study online, Study at home, Self paced 100 hours of learning
More than a course -personal one on one guidance from an expert tutor to help you set up or improve a business -not like any other business course!
Support from a team of highly qualified tutors who run or have ran successful small businesses themselves (both in the UK, and Australia)

How Do I Start My Own Business?

PLAN AND INITIATE YOUR BUSINESS -WITH OUR HELP!

Have you ever envisaged yourself as a business person?

There is no need to settle for a career working as an employee when you have the opportunity to be in charge of your own life and career as an employer. Other business courses may give you knowledge and skills; but few courses go beyond that in the way this course does. Here you not only learn about setting up and running a business; but our business consultant tutors take you through a step by step process where you consider your options, and with their specific advice determine a way forward that will optimise your chance of success. (In effect you are getting a package of free consulting from a business consultant along with the tutoring that this course delivers). This course will teach you how to run a business, then under the guidance of a professional business expert, you will plan and initiate the development of your own business or alternatively you can choose to review the running of an established business.

Duration: 100 Hours (Nominal Duration)

COURSE STRUCTURE

There are twelve lessons, each requiring 8-12 hours work for an average student. This course is designed as a program to help you first understand the business world; then make a decision as to what business you should set up, and how to get started.

Introduction to Small Business Types of business and communication, types of language, office equipment.
The Business World Consultancy services, law and business, the landscape industry, business letters, communication systems.
Your alternatives - different types of ventures Buying and starting a business.
Marketing What is involved in marketing, advertising, selling, communication.
Planning Organising and planning to ensure the success of the business.
Basic Bookkeeping Financial statements, balance sheet, profit and loss statement,insurance.
Sales Methods Selling, sales method, telephone canvassing.
Budgeting Assets and liabilities.
Developing a 12 month business plan Protection, planning and production.
Implementing a business plan Communication with employees, planning the development of the business.
Reviewing progress in a new business Research, evaluate and decide on business plan updates.
Improving profitability Increase profit and reduce expenditure

Aims

Discuss the nature of small business and the skills required to run one successfully.
Explain the legal requirements, restrictions and the costs of running a small business.
Describe the different aspects and considerations associated with starting a new or buying an existing business.
Explain the marketing process.
Explain the importance of planning in the running of a successful business.
Explain the importance of record keeping and the principles of bookkeeping.
Determine sales and promotions strategies in small business.
Explain the importance of budgets. # Develop a business plan.
Implement a business plan. # Identify factors that affect profitability.

Key Considerations before Starting a Business

If you determine that business is for you, and you are ready to consider a range of opportunities; ask yourself the following questions to help you assess the likelihood of success for each different opportunity:

1. Is there a market in my community for this kind of business? Will people buy my product or service, and are there enough buyers to sustain this business in this area?

2. How much money would it take to start this business? Will I be able to borrow that much money? How much will it cost me in the long run?

3. How many hours a week is it likely to take to run this business? Am I willing to commit that much time?

4. What are the particular risks associated with this business? What is the rate of business failure? Why have similar businesses failed, and how can I overcome these risks?

5. Does my background prepare me to run this kind of business? Do most people who own this kind of business have more or different experience or knowledge than I do? What do I need to learn, and am I willing or able to learn it quickly?

6. How much money could I make running this business? What is my lowest likely net profit? Is this sufficient to meet my needs, and when can I expect to make this?

What Do You Want to Sell?

Often people start a business because they think they have something to sell. It might be a product, or perhaps a service. The genesis of the business can very easily be prompting from friends or family who tell you that you produce something so well that you should open a business. Even if you do something well though; it doesn't mean that there is a big untapped market for what you are doing. Starting a business should be based upon an identifiable market, and an understanding of how well suited you are to supplying that market.
You also need to be prepared to evolve. Recognise that demand for products and services will change over time; and a sustainable business needs to change what it is offering for sale, accordingly.

Is your product obsolete?

When was the last time you conducted any market research to gauge how your product is seen by your customers?
Have your customer needs changed?
Have your customer’s expectations changed?
Is your product or service still valued?
What can you do to bring your product or service in line with your customer’s desires?
Is the competition offering a better, or cheaper, or better pitched product?

Make enquiries, ask your customers, contact your competitors, pose as a customer to see what others are offering.

Are your suppliers offering you the best possible service and prices, or are there better options?
Have you lost interest or confidence in yourself or your business? If so, how could you regain interest? Think about what attracted you to it in the first place.
What could you do to improve what you have to offer? Can you modify your existing product or service?

Case Study

Martin runs an accountancy business. He does a lot of work for people who are friends and acquaintances of his. He has spent a lot of time networking. They are often telephoning him and emailing him with accountancy questions. They often ask him questions when he is socialising with them. Often Martin does not charge for these queries as he views these people as his friends.

However, at the end of the year, he sends out their bills for payment. He realises that he has not charged people enough for all the time he has spent with them answering their queries. He realises that his business is struggling financially because of this. He starts to contemplate making some members of staff redundant.

Making a member of staff redundant may be one way to reduce costs, but the error here is Martin’s. He may think he is being friendly and helpful, but for every ten minutes answering a free enquiry for a friend, he loses ten minutes income. He finds it hard to think of charging his friends for advice. If one of his customers ran a clothes shop, would they give him free clothes every time he went in? It is unlikely, but they may offer him a discount. If Martin feels uncomfortable charging friends and acquaintances for all their queries, perhaps he might suggest a discounted rate to them, so at least some income is coming in.

Another option would be to handle the queries differently. For example, in a social situation, he might say something like “Let’s not talk about work now, we’re having a nice evening. Why don’t you email me in the morning and I’ll have a look at it.” Then in the morning, he can answer the query in his “work time” and the client will see that the answer is coming from the business. It is easier for Martin to charge for that work, rather than invoice for 'a chat in the pub.'

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