The information contained in this course will be useful
whether you are going to start a business or are employed
in business and want to acquire management skills.
Here’s How You Can Run Your Own Business In this Lessons.
The course will give you an understanding of business organization,
why matters are structured in a certain way, and the financial and
legal implications of taking on the role of company director.
We will also guide you through the maze of starting a business of your own.
Market Research
We will look at how to carry out or commission market research that will
inform your planning of how to start a business; the issues you need to consider,
the key questions you need to ask.
Developing a Business Plan
Then we will consider the development and preparation of a business plan.
Not only is this a good discipline in itself, it is a key document for
presentation to potential investors and financiers who will want to see
evidence that you are clear on “why start a business” and “how do I start a business”.
When financial institutions are considering applications, they look for a sound
business plan, good cash flow management, a strong balance sheet, and
a well-balanced management team. A business plan is a key first step.
How to Raise Finance for your Business
Our lesson on raising finance reviews the traditional funding routes and looks
at Angel Investors and the popular Crowd Funding approach. Potential investors
need to ensure that their money will be well invested, and will expect you to be
able to demonstrate that you have thoroughly researched the proposed business and
are able to “pitch” your product or service to them. They will want to establish
the potential risks and returns involved in doing business with you.
Managing your Cash Flow
And then a few words on cash flow, which is a crucial process. The most common
reason for business failure is still the lack of funds to pay salaries, rent and other bills.
Running out of cash is the reason for the majority of companies being forced into liquidation.
Although profitability is important in the long run for a company, in the short run, br> cash flow has to be very carefully managed.
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