What could he do that would
allow him to
combined the two?
1 + 1 = 11
He came up with the idea of
an online art gallery
A digital gallery that would allow
people to view art sourced from all
over the world.
From anywhere you have internet
Which could be purchased
and delivered to your door.
It was a great idea.
Tim would have to travel
to find the best artist to exhibit
he would spend most of his time looking at art
Five years later, Tim lives in
New York selling art on the
most innovative online
art gallery in the world.
What business idea can you think of that will
allow you do something you love?
E.g. Starting a record shop
• There are lots of DJs in Melbourne
• I love listening to new music
• Lost of DJs download music
• Don’t know any record labels
• No website
• Finding a location
• Could sell music and musical equipment
• Can set up shop in my own style
• Increase in downloading of music
• Poor location
Who will use your product or service?
spent on this kind of
each year ?
Now you need to
think about where
you want to
set up your
• Brand Image – Is the location consistent with the
image you want to maintain?
• Competition – Are the businesses around you
complementary or competing?
• Local Labour Market – Does the area have
• What will your travel time to work be?
• Proximity to Suppliers – They need to be able to
find you easily as well.
• Safety – Consider the crime rate.
• These are expenses that happen before you
start trading. For example, registering a
business name, logo design, brochures, rent,
• Create a list of expenses. What is the total
amount of money you will need to get your
business off the ground?
Create a PowerPoint
Tell potential investors:
• Your idea
• Target market
• Running cost
• How much money you need to get started
• The profit you think you will make per month
• What you are prepared to give an investor
(shares, repayment of loan with interest, etc)
Create a new page on your wiki
• Call it Starting My Own Business
• Post your completed PowerPoint on the new
page once it is completed
Present your idea
• Deliver a speech for a minimum of two
minutes to the class and guests
• Explain your idea and why it is worth