2-Day Course Outline and Scheme of Work: Starting a Business: Fundamentals
Course Title:
Starting a Business: Fundamentals
Course Duration:
2 Days (6 hours per day)
Total: 12 hours
Target Audience:
This course is designed for aspiring entrepreneurs and individuals looking to start their own business with little to no prior experience in business management or entrepreneurship.
Course Objectives:
By the end of this course, participants will be able to:
- Understand the essential steps involved in starting a business.
- Conduct market research and identify business opportunities.
- Develop a business plan that outlines their business goals and strategies.
- Understand legal structures and requirements for starting a business in the UK.
- Implement basic financial planning and budgeting for their new venture.
Day 1: Understanding Business Fundamentals (6 hours)
Session 1: Introduction to Entrepreneurship (1 hour)
- Topics Covered:
- What is entrepreneurship? The role of entrepreneurs in the economy.
- Characteristics and traits of successful entrepreneurs.
- Types of businesses: sole proprietorships, partnerships, and corporations.
- Common myths about starting a business.
- Activities:
- Group discussion: Participants share their motivations for wanting to start a business.
- Quiz on entrepreneurship basics.
Session 2: Market Research and Opportunity Identification (1 hour 30 minutes)
- Topics Covered:
- Importance of market research in business planning.
- Techniques for conducting market research: surveys, interviews, and focus groups.
- Identifying target markets and customer personas.
- Assessing competition and market demand.
- Activities:
- Hands-on exercise: Participants conduct a mini market research survey.
- Group activity: Identify potential business opportunities based on research findings.
Break (30 minutes)
Session 3: Business Planning Essentials (2 hours)
- Topics Covered:
- What is a business plan? Importance and key components.
- Developing a mission and vision statement.
- Setting SMART goals and objectives.
- Outline of a business plan: Executive summary, marketing plan, operational plan, and financial plan.
- Activities:
- Workshop: Participants begin drafting their own business plan, focusing on the executive summary and mission statement.
- Peer review: Share business plan ideas and provide constructive feedback.
Session 4: Legal Structures and Requirements (1 hour 30 minutes)
- Topics Covered:
- Overview of business structures in the UK: sole trader, partnership, limited company, and LLP.
- Understanding registration processes and legal requirements.
- Importance of contracts, licenses, and permits.
- Introduction to taxes: VAT, corporation tax, and self-assessment.
- Activities:
- Group discussion: Explore the pros and cons of different business structures.
- Quiz on legal requirements for starting a business in the UK.
Day 2: Financial Planning and Marketing Strategies (6 hours)
Session 1: Financial Planning Basics (1 hour 30 minutes)
- Topics Covered:
- Importance of financial planning for new businesses.
- Understanding startup costs: fixed and variable expenses.
- Creating a simple budget and cash flow forecast.
- Introduction to funding options: personal savings, loans, grants, and investors.
- Activities:
- Workshop: Participants create a basic budget for their business idea.
- Group discussion: Share insights on potential funding sources.
Session 2: Marketing Fundamentals (1 hour 30 minutes)
- Topics Covered:
- The importance of marketing for new businesses.
- Overview of the marketing mix (4Ps): Product, Price, Place, Promotion.
- Developing a marketing strategy and tactics for reaching target customers.
- Introduction to digital marketing channels (social media, email marketing, SEO).
- Activities:
- Hands-on exercise: Create a marketing plan outline for their business.
- Group brainstorming: Discuss innovative marketing ideas for small businesses.
Break (30 minutes)
Session 3: Operations and Management (1 hour 30 minutes)
- Topics Covered:
- Understanding operational planning: setting up processes and systems.
- Importance of customer service and relationship management.
- Hiring and managing a team: recruitment and training basics.
- Tools and technology to streamline business operations.
- Activities:
- Workshop: Develop an operational plan for their business, including customer service strategies.
- Group discussion: Share management challenges and potential solutions.
Session 4: Pitching Your Business Idea (1 hour 30 minutes)
- Topics Covered:
- Importance of pitching your business idea effectively.
- Key elements of a successful pitch: clarity, confidence, and engagement.
- How to create a compelling presentation and use visual aids.
- Practice and feedback on pitching skills.
- Activities:
- Participants prepare a short pitch for their business idea.
- Group presentations: Participants pitch their business ideas and receive constructive feedback from peers.
Assessment:
- Ongoing assessment through practical activities (market research, business planning, budgeting, and pitching).
- Final assessment through a presentation of their business plan and pitch to the group, demonstrating their understanding of course content.
Resources:
- Templates for business plans, budgets, and marketing plans.
- Handouts on legal requirements, financial planning, and operational management.
- Additional reading materials on entrepreneurship and business management.
This 2-day course provides a comprehensive introduction to the fundamentals of starting a business, equipping participants with the essential skills and knowledge to successfully launch and manage their own ventures. Through interactive workshops and practical exercises, learners will develop actionable plans and gain confidence in their entrepreneurial abilities.
4o mini
