Starting a Small Business 100 Hours Certificate Course
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Starting a Small Business 100 Hours Certificate Course
Starting a Small Business course online.
Starting a new business? Need help with setting-up and implementing financial controls? This is not just a course. You'll learn from people who have actually started and successfully maintained their business.
You can easily reduce the risk of your business failing through the guidance and business expertise offered by our expert business professionals. They will help you plan and initiate the development of your own business. Some of the topics you'll cover in this course include: Introduction to Small Business, The Business World, Your alternatives - different types of ventures, Marketing, Planning, Basic Bookkeeping, Sales Methods, Budgeting, Developing a 12 month business plan, Implementing a business plan, Reviewing progress in a new business, Improving profitability.
This course is different to other business courses: You not only learn about business but also have the opportunity to design and implement a business plan, adjust and improve it through our business mentors. You get to interact and receive vital feedback necessary for the success of your business from ADL's experienced and well qualified members of our staff.
Learning Goals: Starting a Small Business VBS101
- 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.
Lesson Structure: Starting a Small Business VBS101
There are 12 lessons:
1 Introduction to Small Businesses:
- Nature and success factors
- Primary, Secondary or Tertiary business
- Scope and Types of Businesses
- Options –size, products, positioning, legal structure, specialisation, type of industry
- What makes it a “small” business
- Key Success factors –entrepreneurship, market niche, information, reputation, flexibility
- Understanding Risk of Failure
- Set task
2 The Business World;
- Business structures –sole trader, partnership, companies (public and proprietary)
- Advantages and disadvantages of different types of ownership
- Small Business and the Law
- Importance of record keeping
- Regulations affecting site and operations
- Components of a legal system –lawmakers, interpreters, enforcers, administrators, advisors
- Common law rights and obligations
- Protection of Consumers
- Trade practices, trademarks, brands, business, IP.
- Business Registration
- Employment Law –employment contracts
- Business disputes –negotiation, arbitration, mediation, etc.
- Contract Types –employment, lease, sale of goods or services, insurance, etc.
- Prerequisites of a contract –what comprises a contract?
- Taxation and small business
- Insurance –private, property damage, life insurance, business insurances for risk management
- Business Case Study
- Set Tasks –researching local issues
3 Your alternatives - different types of ventures;
- Goods manufacturing, or services
- Factors to consider -market niche, location, goodwill, personal factors, etc
- Business terminology
- Establishing a new small business
- Considering options of buying into a franchise, buying an established business or starting up from nothing.
- What to look for when buying an established business
- Understanding franchising
- Guidelines for starting something new
- Nature and scope of marketing
- Purpose of Advertising
- Managing the marketing process
- The marketing concept
- Marketing goals
- Marketing plans
- Strategic marketing planning
- Marketing objectives and strategies
- Target markets
- Developing a marketing mix
- Organising the Planning Process
- Reviewing a Business Situation
- Business Mission Statement
- Establishing marketing objectives
- Broadening geographical representation
- Maximizing customer service
- Developing strategies to achieve objectives
- Increasing market share –geographical expansion, market penetration, price factors
- Analyzing market opportunities –external influences and internal influences
- General economic conditions
- Government policies and regulations
- Marketplace laws
- International influences
- Changing Customer attitudes and values
- Activity of competitors
- Alternative marketing methods
- Analyzing business resources, market share, product characteristics, advertising, price, innovation potential financial capacity.
- Selecting Target markets
- Mass marketing, niche marketing, differentiated marketing, etc
- Physical basis for market segmentation
- Behavioural basis for market segmentation
- Developing the Marketing Mix
- Branding and packaging
- Understanding the price element
- Pricing methods
- Understanding the promotion element
- Public relations, advertising, sales
- Product life cycle
- Analyzing costs and benefits
- Managing a marketing plan
- Structuring advertising or promotions
- Publicity Marketing
- Set task
- Scope and nature of planning
- Developing a business plan
- The planning process
- Checklist for a business plan
- Market research
- Business plan pro forma –a template for you to follow for creating a very detailed business plan
6 Basic Bookkeeping;
- What records are essential?
- The simplest approach to financial bookkeeping
- The value of financial records
- Source documents
- Cash book
- Credit sales and credit purchases
- Bank reconciliation
- Petty Cash
- The Balance Sheet
- Classification of the balance sheet
- Working capital
- Profit and loss statement
- Preparing a profit and loss statement
- The link between profit and the balance sheet
7 Sales Methods;
- Personal Selling
- Rules of Selling
- Types of Selling
- Types of customers
- The Salesperson -characteristics and knowledge needed
- Using the telephone
- Set task
- Scope and nature of budgets
- Types of budgets
9 Developing a 12 month business plan;
- Planning for manpower needs
- Planning where to work from initially (eg. home, leased or purchased property)
- You will create a simple plan within the following framework, submit, and recive feedback from our academic staff on what you propose.
- Description of the Business
- Motives for Entering Business
- The Opportunity and Strategy
- The Target Market
- Relevant Experience and Skills
- Financial Assistance Required
- Financial Projections
- Financial Summary
10 Implementing a business plan;
- This lesson considers how the plan you developed might be implemented.
- Consider who is going to do the work: how will you manage to get things implemented
- Motivating employees
- Delegating work tasks
11 Reviewing progress in a new business;
- Monitoring performance
- Evaluating Performance
- Modifying performance
12 Improving profitability;
- How can profits be increased
- Business expansion and sources of finance
- Overdraft facility
- Equity Credit
- Fully Drawn Advances / Term Loans
- Bills of Exchange
- Inventory Financing
- Sources of Funds
- Information required when sourcing funds
- Good Management Practices
- Set Task
Your learning experience with ADL will not only depend on the quality of the course, but also the quality of the person teaching it. This course is taught by Michael Booth and your course fee includes unlimited tutorial support throughout. Here are Michael's credentials:
B.Sc (Hons) Chemical Engineering, (University of Leeds), MSc with Merit Computer Science, (University of Kent), Executive Associate, Institute of Independent Business International
Michael has over 20 years experience in industry with a diverse academic background incorporating executive management, chemical engineering, and computer science. Michael has an international background and has worked as a technical director, production manager, and operations manager throughout companies across the world. He recently completed his MSc in Computer Science from the University of Kent, and is an executive associate of the Institute of the Independent Business International.
Below are listed only a few of the hundreds (if not thousands) of possible businesses a person might enter:
a/ Home Services ‑Cleaning, garden care, ironing, rubbish removal etc.
b/ Plant Nursery – Garden Design
c/ Craft ‑ sell through markets or wholesale to shops.
d/ Party Plans (e.g. Kitchen ware, Cosmetics, Home goods).
e/ Retail Shop
f/ Publishing ‑freelance writing, publishing yourself, etc.
g/ Office Services ‑typing, serviced offices, etc.
h/ Mail Order businesses
- renting or leasing equipment
- hire yards
- contract earth moving etc.
j/ Child Care
k/ Tourism and recreation:
- organizing holiday packages, tours etc.
- fitness centres/programs
- provision of recreation facilities.
STARTING A NEW BUSINESS
Things to Consider
The Market Niche
This is best when competition is weak, non‑existent, or not keeping up with the growing market or customer demands/requirements. It can be good if customer loyalty is not a factor, or if you can bring customers with you. Keep in mind that once you approach a niche market, a larger competitor may decide to move into that market. Be prepared for competition, even if it doesn't exist in the early days.
Starting a new business can be more of a challenge and more satisfying when you are successful. You can start when you are ready, or you can start part‑time initially. You have the freedom to introduce your own ideas and style from the beginning. However, there is more worry and pressure; it requires certain skills and attitudes; and takes time to research, decide, organise and become competent.
You start with a clean slate with potential customers; the cost of buying the ‘goodwill’ price premium, of an existing business, is excluded. It is hard, however, to predict volume and market patterns, and there is generally a greater risk of the business failing because of the need to build‑up a customer base.
You can choose your own site for your business in the best available area, or the area that best suits you (e.g. close to home). If you are going to have leased facilities you will be able to have the full lease period: however, good sites may be all occupied, and choosing an alternative site may involve a bit of uncertainty. You might also have to upgrade any new premises to meet regulations, your own requirements, to provide the necessary décor, or services for your customers.
When starting a new business you can start small, and hire people to fit your particular needs and style. When looking at staff, consider what weaknesses you may have and try to select some staff with strengths in those areas.
Equipment and Stock
You can select the most modern equipment or choose fresh stock, however, it takes time to select, ship, and install these. Costs are high for new equipment and stock, and a sensible balance between the risk of failure and such costs should be considered.
You can start small, BUT many costs are commonly not foreseen. Suppliers may require cash on delivery (C.O.D.), financing may be hard to come by, and initial cash flow can make servicing debts difficult.
The business world has a language all of its own. Do you know the meanings of ALL of the terms listed below?
FRANCHISE - A company grants a business operator the right to offer the services or goods of that company (sometimes exclusively) within a specified area. The business then has the right to use the company’s marketing facilities as well as their expertise and trademarks.
WHOLESALER - A business that sells its goods to a retailer usually in large quantity and at reduced pricing for re-sale
ENTREPRENEUR – A person who sets an enterprise (or several) using their own money and skills.
SOLVENCY – A business is solvent when it can pay all its debts
LIQUIDITY – Having fluid assets that can be readily converted into cash
RECEIVERSHIP – A business under receivership has been appointed a receiver through the courts to manage the property and receive/distribute the monies of the business to the creditors
PROFIT – The gain or money made by a business after all running costs are deducted
PRODUCTIVITY – The amount of work (or goods) efficiently produced
OVERDRAFT – To draw on your bank account over and above the amount of available funds: usually under a formally arranged agreement between you and the bank.
MORTGAGE – An amount of money that is advanced by a financial institution to you and secured by an asset such as a residential or commercial property
EQUITY – The difference between the value of property and (deducting) all monies owed on it
LIQUIDATION – A company is wound up or goes bankrupt
ASSETS – Property including machinery owned within a business or personally
BILL OF LADING – Is a final receipt showing the type, quantity and weight of items carried by a shipper or carrier for a consignee. It is a contract that defines the terms and conditions of carriage
LIABILITIES – Debts that a business, person or company is responsible for
ACCOUNT – A statement of specific money dealings
PUBLIC COMPANY – A floated company i.e. shares of a public company can be bought on the stock exchange
PRIVATE COMPANY – A company that is owned privately by one or more persons and is not publicly floated: i.e. you can’t buy shares in the company on the stock exchange
EBook to compliment this Course
This concise guide is your invaluable handbook on improving your existing business. Learn about managing people, legal issues, finance, risk management and much more.
by John Mason
Business Operations eBook course online. In the daily operation of a business, some days will challenge you and some will inspire you. Most of them however will be just part of the daily routine of normal business operations. Unfortunately your business will not run itself - goals need to be set and decisions need to be made in order to achieve these goals. This book talks you through all of the different aspects involved in running a business from finance and forecasting to staffing changes and legal issues.
CHAPTER 1 THE DAILY CHALLENGES OF RUNNING A BUSINESS
- Day to day operations
- The changing face of business
- Some golden rules of busines
CHAPTER 2 - PEOPLE
- Business interaction
- A physical presence
- Employing the right people
- Golden rules
CHAPTER 3 - THE LAW
- Legal systems
- Trading across borders
- Employment law
- Consumer law
- Intellectual property rights
- Taxation law
CHAPTER 4 - FINANCE
- Managing costs
- Debt collection
|How Do Our Tuition Fees Compare?||Full time classroom based Further Education Courses - Approx. £5,000 per year - Part-time classroom based Adult Education Courses - Approx. £7.00 per hour - N.B. classroom tuition means you learn at the pace of the class. One-to-one private tuition - from £15.00 per hour - ADL one-to-one tution fees - From £340 per 100 Hour Course = Average of £3.40 per hour - N.B. one-to-one tuition is tailored to your own individual learning availability and pace.|
|Course Start||Begin your learning at any time.|
|Course Prerequisite||None - Our course levels are an indication of the depth of learning you should receive. They do not describe the level of difficulty.|
|Course Qualification (Study Option A)||Endorsed Qualification from TQUK - Training Qualifications UK, an Ofqual Approved Awarding Organisation - Completed written assignments and final evaluation per course/module to be taken.|
|Course Qualification (Study Option B)||Certificate of Attainment from ADL - Completed written assignments only - no final evaluation.|
|Comparative Credits Information||UK Course Credits: 10 - U.S. Credit Hours: 3 - when compared to regulated courses.|
|Course Duration and Deadlines||Course hours given are a guide only. You will be encouraged to work at your own pace to learn as much as you can, with no assignment deadlines or end date by which you must complete your course by. You are in control!|
|Study Support||Personal tutor/mentor support from industry relevant professionals throughout your whole course. Mentors are contactable by e-mail, telephone and through the Moodle online classroom. They provide assistance with your course material, plus discuss, explain and give advice when needed. They will also mark and grade your assignments, plus provide constructive and helpful feedback vital to your success.|
|Suitability for Self Employment and Small Businesses||Our courses are ideal for sole traders and small business owners and their staff. Customer confidence in what you can do will determine how successful you are in getting clients. Doing the job right using the correct knowledge and skills, leads to repeat business and referrals to friends, family and work colleagues. Completing one or more of our courses for the service you have to offer, will give you the tools to achieve this and grow your business.|
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|Designing Your Own Qualification||Bundle up your choice of related courses to form your own qualification. Our Advanced Certificates (4 courses), Diplomas (6 courses), Advanced Diplomas (8 courses) and Higher Advanced Diplomas (12 courses), are used to differentiate between the in-depth knowledge and skills you will acquire in your chosen area of study. e.g. Advanced Certificate in Turf Care Management, which includes individual courses: Turf Care, Sports Turf Care, Turf Repair and Renovation and Turf Grasses.|
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