Your SlideShare is downloading. ×
0
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Lu 3
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Lu 3

315

Published on

Learning Unit 3

Learning Unit 3

Published in: Education, Business, Technology
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
315
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
26
Comments
0
Likes
1
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. SBDELearning Unit 3Starting Your Own Business
  • 2. OBJECTIVES• Explain how to assess your own potential as a small business owner;• Identify opportunities for small business development;• Evaluate whether the opportunity is likely to be successful;• Understand the concept of a feasibility study;• Prepare a plan for each aspect such as marketing, production, finance and staffing of the business;• Explain the advantages and disadvantages of starting your own business;• Identify the managerial skills you will need to start your own business;• Understand how to obtain start-up cost savings.
  • 3. PERSONALITY TRAITS• The ability to recognise • Leadership skills; and exploit opportunities; • A desire to achieve;• Resourcefulness; • hard workers;• Creativity; • Nurturing quality;• Vision; • Accepting responsibility;• Independent thought; • Reward-oriented;• Energy; • Optimistic;• Optimism; • Excellence-oriented;• Innovativeness; • Good organisers;• Calculated risk taking; • Money-oriented.
  • 4. CHARACTERISTICS• Commitment • Effective time management• Energy • Ability to identify• Need to Achieve opportunities• Tolerance for stress • Make informed• Decisiveness decisions• Ability to deal with • Ability to manage risk failure
  • 5. HARD AND SOFT SKILLSA “hard” skill is a technical oradministrative skill related to the corebusiness of the operation – not onethat is interpersonal.). These skills arespecific to a given context andtypically produce an immediate visibleresult.
  • 6. HARD AND SOFT SKILLS“Soft” skills are a cluster ofpersonal attributes, whichenhance interactions with others,and are learned over time; oftenreferred to as your emotionalintelligence (EQ).
  • 7. EMOTIONAL INTELLIGENCE FOR SMALL BUSINESS OWNERS• The ability to perceive, • The ability to listen to recognise, understand and others, to have empathy react to the feelings of with them and to yourself and those of communicate effectively in others (emotional terms of emotions and awareness). thoughts.• The ability to distinguish • To use the information in between various feelings directing your thoughts and to name them and actions so that you (emotional literacy). live effectively, are• The ability to express and motivated and have a goal control your feelings in mind (relation between appropriately (emotional thoughts, feelings and control). behaviour).
  • 8. SELF AWARENESS• Emotional self awareness• Accurate self assessment• Self confident
  • 9. SELF - MANAGEMENT• Self control• Transparency• Adaptability• Achievement• Initiative• Optimism
  • 10. SOCIAL AWARENESS• Empathetic awareness• Organisational awareness• Service awareness
  • 11. ASSESS OWN POTENTIALNeed to ask yourself a series ofquestions about:-• Personal objectives• Personal resources• Clues from the past• Your specialty
  • 12. Individual ExerciseSelf assessment questionaire
  • 13. IDENTIFYING OPPORTUNITIESThree aspects:-Attractiveness of the opportunityDurability – inherent ability tocontinueTimeliness – enter the market atan appropriate or opportunistictime
  • 14. GENERATION OF IDEAS• From skills, expertise and attitude• From common needs• From existing problems• From everyday problems• From other sources
  • 15. EVALUATING OPPORTUNITIES• A good opportunity will be:-• Attractive• Durable• Timely• Anchored in a product or serviceUSE INTERNAL & EXTERNALEVALUATION OF OPPORTUNITIES
  • 16. INTERNALWill only be successful if owner hasinternal capabilities to take opportunityfrom idea to businessNeed to assess:-• Resources and capabilities• Core competencies
  • 17. EXTERNALNeed to evaluate the general andindustry environment
  • 18. GENERAL5 SUB ENVIRONMENTS• Political & legal environment• Social cultural environment• Macroeconomic environment• Global environment• Technological environmentCHALLENGE TO BUSINESS OWNERBUT ARE UNCONTROLLABLE
  • 19. INDUSTRYDirect effect to the start up businessPorter 5 competitive forces• Threat of new competitors• Threat of substitute products or services• Intensity of rivalry among existing competitors• Bargaining power of suppliers• Bargaining power of buyersP52/53 module manual
  • 20. FEASIBILITY ANALYSISFeasibility:-.. The extent to which an idea isviable and realistic and the extentto which the small business owneris aware of internal and externalforces that could affect his/herbusiness
  • 21. FEASIBILITY STUDYInvolves meticulous investigation of 5primary areas:-• The overall business idea• The product/service• The industry and market• Financial projections (profitability)• The plan for future action
  • 22. FEASIBITY CHECKLISTMust take into consideration the following importantfactors:-• Size of market• Growth potential of market• Products and services the market needs• Why the market wants these products and services• How often these customers buy these products and services• What the geographic distribution of the market is• What price the market is willing to pay• What market share can be expected• How to communicate effectively with the market
  • 23. INDIVIDUAL ACTIVITYICE TASK 3Prepare a feasibility plan as per the templateon page 54/55/56/57 for your proposedbusiness. You will need to do some in depthresearch in order to specifically answer thefeasibility checklist questions on p57 of themodule manual. This will enable you toprepare a more accurate and detailed study.Plan must be typewritten. Hand in date: 4thSeptember 2012
  • 24. ASSESSMENT OF OPPORTUNITYGoal of feasibility study is to systematically assess theopportunity to determine if it can be brought to marketprofitablyKEY POINTS• The idea cannot be economically made into a product or service• The product and/or service works but does not appeal to a large enough market to be viable• The product and/or service works, there is a viable market, but resources are not sufficient or obtainable to make the idea into a business
  • 25. BUSINESS PLANSARE NECESSARY!!!!!!!• To raise finance as and when necessary (to start, buy or expand)• To encourage assistance, to get a lease, to open an account etc.• To improve performance (and likelihood of success) through increased knowledge and understanding – use to assess performance against plan, evaluate strengths and weaknesses etc.
  • 26. SCOPE OF BUSINESS PLAN• Contents• Exec Summary• Vision & Mission• Company Overview• Product or Service• Marketing Plan• Management Plan• Operating Plan• Financial Plan
  • 27. GROUP EXERCISEGet into groups of 2Take the section headings from previous slideand write bullet points on each section on whatshould be included in it . DO NOT REFER TOYOUR MODULE MANUAL!
  • 28. ADVANTAGES OF STARTING YOUROWN BUSINESS• Opportunity to start fresh• Start with latest technology• Be able to provide products or services not currently available in the market place• Owner can determine size of business
  • 29. DISADVANTAGES OF STARTINGYOUR OWN BUSINESS• No known name in market place• Time needed to establish a positive cashflow• May be difficult to obtain initial funding – no assets or reputation• Recruitment of experienced staff may be difficult
  • 30. MANAGERIAL SKILLSThree key areas:-• Conceptual• Technical• Interpersonal or human skills
  • 31. CONCEPTUALAbility to see small business as a whole• Recognise how functions are interdependent• Visualise relationship of the small business to the industry and community it is operating in• Understand the effects of political, economic and social forces of the nation on the small business
  • 32. TECHNICAL• Implies an understanding and proficiency in a specific kind of activity• Involves methods, processes, procedures or techniques• Specialist knowledge, analytical ability and knowledge of use of specialist tools
  • 33. INTERPERSONAL SKILLSAbility to manage peopleAbility to networkAbility to communicate at all levels etc.
  • 34. START UP COST SAVINGS5 AREAS IN THE START UP PROCESSWHERE SAVINGS ARE POSSIBLE:-• Franchise company fees• Turnkey packages• Construction costs• Equipment signs and fixtures• Lease terms
  • 35. INDIVIDUAL EXERCISERevision questions p 63 Module Manual
  • 36. Useful Clipart and Images
  • 37. AHEADof theCURVEAn AnimatedPowerPoint Template
  • 38. AHEADof theCURVEAn AnimatedPowerPoint Template
  • 39. Static Content SlideStatic Layout.
  • 40. Animated or Static?Change Between Static andAnimatedYou can change between staticand animated layouts byclicking on the Layout tab in theHOME menu on the ribbon.For example this slide usesthe static layout.
  • 41. Alternate Content PagePrintable Slide LayoutAn alternate content page with a printable backgroundcolor.
  • 42. Bulleted Content Page• This Layout Page has bullets – And Indented Levels • Level 3 Text Placeholder – Level 4 Place Holder » Level 5 Place Holder
  • 43. Agenda or Summary Layout Phase 1 Discussion Item One – Phase 1 A Placeholder for text Phase 2 Discussion Item Two – Phase 2 A Placeholder for text Phase 3 Discussion Item Three – Phase 3 A Placeholder for text Discussion Item Four – Phase 4 Phase 4 A Placeholder for text
  • 44. Two Picture Page Layout • A placeholder for text for the first picture • More information can be added here by changing this text. • A placeholder for the second picture • More information can be added here by changing this text. • Make changes to this text.
  • 45. Three Picture Page Layout• A description of • A description of • A description of the first picture. the second the third picture. You may change picture. You may You may change this text. change this text. this text.• A description of • A description of • A description of the first picture. the second the third picture. You may change picture. You may You may change this text. change this text. this text.
  • 46. Table Page Geographic Q1 Q2 Q3 Q4Layout RegionHere is the description of thetable. You may change or United States 1254 1873 1015 2284delete this text as you wish. Europe and 324 310 300 419This chart is compatible with AsiaPowerPoint 97 to 2007. Australia 15 18 13 20Here is a placeholder for more Canada 6 3 4 7text and description of thechart. Changing this text will Mexico 1 .5 .5 2not interfere with the formattingof this template. TOTALS 1600 2205 1333 2732
  • 47. Comparison Table Layout Quarter North Asia Europe Austr Quarter North Asia Europe Austra America alia America lia Q1 2009 123 34 45 10 Q1 2009 123 34 45 10 Q2 2009 134 35 44 12 Q2 2009 134 35 44 12 Q3 2009 150 45 50 14 Q3 2009 150 45 50 14 Q4 2009 201 55 60 18 Q4 2009 201 55 60 18 Q1 2010 175 44 47 13 Q1 2010 175 44 47 13 Q2 2010 180 48 52 14 Q2 2010 180 48 52 Q3 2010 204 55 60 16 Q3 2010 204 55 60 Q4 2010 250 62 70 20 Q4 2010 250 62 70Here is the description of the table. You may change or delete this text asyou wish. This table is compatible with PowerPoint 97 to 2007.
  • 48. Chart TitleBar Graph Page Series 1 Series 2 Series 3LayoutHere is the description of the 5chart. You may change or 4.5delete this text as you wish. 4.3 4.4This chart is compatible with 3.5PowerPoint 97 to 2007. 3 2.8 2.4 2.5Here is a placeholder for moretext and description of the 2 2 1.8chart. Changing this text willnot interfere with the formattingof this template.
  • 49. Chart TitlePie Graph PageLayout 4th QtrHere is the description of the 9%chart. You may change ordelete this text as you wish. 3rd Qtr 10%This chart is compatible withPowerPoint 97 to 2007.Here is a placeholder for more 1st Qtrtext and description of the 58%chart. Changing this text will 2nd Qtrnot interfere with the formattingof this template. 23%
  • 50. Chart TitleBar Graph Page Series 1 Series 2 Series 3LayoutHere is the description of thechart. You may change or 5delete this text as you wish. 4.5 4This chart utilizes features only 3.5available with 2007. 3 2.5Here is a placeholder for moretext and description of the 2chart. Changing this text will 1.5not interfere with the formatting 1of this template. 0.5 0
  • 51. Pie Graph Page Chart TitleLayoutHere is the description of thechart. You may change or 58%delete this text as you wish.This chart utilizes features onlyavailable with 2007. 23% 9% 10%Here is a placeholder for moretext and description of thechart. Changing this text willnot interfere with the formattingof this template. 1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
  • 52. Smart Art PageLayoutThis chart utilizes Smart Artwhich is feature in PowerPoint2007. If you wish to makecharts like this and don’t havePPT 2007, we have providedthe graphical elements to help Stage 1you build this yourself.Here is the description of thechart. You may change ordelete this text as you wish.Here is a placeholder for moretext and description of thechart. Changing this text willnot interfere with the formattingof this template.
  • 53. Smart Art PageLayoutThis chart utilizes Smart Art Area 1 Area 2which is feature in PowerPoint2007. If you wish to makecharts like this and don’t havePPT 2007, we have providedthe graphical elements to helpyou build this yourself.Here is the description of thechart. You may change ordelete this text as you wish.Here is a placeholder for moretext and description of thechart. Changing this text willnot interfere with the formattingof this template.
  • 54. Process 2Smart Art Page A placeholderLayout for text for moreThis chart utilizes Smart Art informationwhich is feature in PowerPoint Process 12007. If you wish to make A placeholdercharts like this and don’t havePPT 2007, we have provided for text forthe graphical elements to help moreyou build this yourself. information Process 3 A placeholderHere is the description of the for text forchart. You may change or moredelete this text as you wish. information Process 4 A placeholder for text for more information
  • 55. Picture Page LayoutHere is a place holder for the picture caption. You may delete thistext.
  • 56. Questions?MoreInformation?PresenterMedia.comsupport@presentermedia.com4416 S. Technology DrSioux Falls, SD 57106

×