After deciding to start your business, you as the entrepreneur must have a plan to produce products or supply services, and attract the optimal marketing, operations, management team and financing, to get the business off to a great start. This plan needs to address all of these key areas in order that it becomes a credible discussion document between the entrepreneur and whoever the intended audience happens to be.
Starting Your Business
This usually encompasses the start-up phase of a business and the first 12 months of trading. During this stage the entrepreneur is likely to make most of their mistakes. So it's important that they take advantage of any professional business support which is available.
Many businesses fail simply because they do not have a good enough understanding of where the money in the business comes and goes to, and as a result they run out of money.
This video will explore a range of financial issues that effect the small business, and will look at how you can apply this insight to develop a viable financial model for your own business idea.
It is important to remember that Legislation differs from Country to Country, and also changes over time. Whilst we cover the basics in our video, the responsibility lies with you to research your chosen business sector in order to ensure that the information you have regarding your legal obligations as the business owner is accurate and up to date.
Sales & Marketing
Marketing is the process of planning and executing the conception, pricing, promotion and distribution of ideas, goods or services, to create exchanges that satisfy individual or organisational goals. Selling can be seen as the act of completing the final exchange of goods or services for financial return. In basic terms, marketing is about communicating the product message to potential customers, whereas sales is concerned with the final output of the marketing process, which is the actual transaction itself.