Starting A Small Business VBS101

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Logo Academy for Distance Learning
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Description

Develop confidence and expertise to make your business venture work. A large percentage of small businesses fail within the first two years. Make sure your business isn't one of them! This course looks at how to start a business. Twelve lessons cover marketing, planning, budgeting, reviewing progress, improving profit and more. Course Structure There are 12 lessons in this course:
1. Introduction to Small Business
  • Types of business and communication, types of language, office equipment.
2. The Business World
  • Consultancy services, law and business, the landscape industry, business letters, communication systems.
3. Your alternatives - different types of ventures
  • Buying and starting a…

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Develop confidence and expertise to make your business venture work. A large percentage of small businesses fail within the first two years. Make sure your business isn't one of them! This course looks at how to start a business. Twelve lessons cover marketing, planning, budgeting, reviewing progress, improving profit and more. Course Structure There are 12 lessons in this course:
1. Introduction to Small Business
  • Types of business and communication, types of language, office equipment.
2. The Business World
  • Consultancy services, law and business, the landscape industry, business letters, communication systems.
3. Your alternatives - different types of ventures
  • Buying and starting a business
4. Marketing
  • What is involved in marketing, advertising, selling, communication.
5. Planning
  • Organising and planning to ensure the success of the business.
6. Basic Bookkeeping
  • Financial statements, balance sheet, profit and loss statement,insurance.
7. Sales Methods
  • Selling, sales method, telephone canvassing.
8. Budgeting
  • Assets and liabilities.
9. Developing a 12 month business plan
  • Protection, planning and production.
10. Implementing a business plan
  • Communication with employees, planning the development of the business.
11. Reviewing progress in a new business
  • Research, evaluate and decide on business plan updates.
12. Improving profitability
  • Increase profit and reduce expenditure.
Each lesson culminates in an assignment which is submitted to the school, marked by the school\'s tutors and returned to you with any relevant suggestions, comments, and if necessary, extra reading.

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.

Success of Small Business

All small business owners start off optimistically, believing that their business venture will lead to financial success and security. Many may have read some multitude of books available about being successful in small business. These books usually highlight five common ‘keys’ to small business success.

1. Entrepreneurial abilities. The people in small business are crucial to the success of the enterprise. Attitudes and personalities of owners will vary enormously. Some will have drive and enthusiasm, many will have set targets and some will take big risks. Some will thrive on the challenge of a potential failure, enjoying the process of solving problems. The majority will be highly motivated and optimistic.

2. Access to information. As a bare minimum the small business operator must have information regarding profitability, the quality of products and services and the performance of employees. Accurate and up to date information will allow the small business owner to make the best decisions.

3. Flexibility. The small size of the business allows the owner to adapt quickly to changes in the external environment. Because there are fewer levels of management, decisions can be made quickly. In addition, the close contact between owners and customers allows the establishment of personal relationships, helping owners to respond quickly to their customer’s changing tastes and preferences.

4. Focus on market niche. Small businesses can concentrate their efforts on a few key customers or a specific segment of the market. This provides the opportunity for the small business to become more specialised and able to deliver a high level of service.

5. Reputation. Because the small business is servicing a narrow market niche, it can develop enviable reputations for quality and service.

These five ‘keys’ above have been identified as major success factors.

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    There are no frequently asked questions yet. Send an Email to info@springest.co.uk