Work in a group of MAXIMUM 6 students. Presentation title: “A successful entrepreneur” Presentation date: 23 rd MAY / 30 th MAY / 6 th JUNE 2013 *MAX 3 GROUPS /SESSION* Points to remember: Show up early, Proper Introduction, Clear and Concise Points, Enhance your graphics, Conclude the presentation. Time: 15 – 20 minutes. REPORT DUE: 8 th JUNE 2013
Planning is a process leading to the formulation of a plan A plan is the outcome of the planning process The planning process (thinking, researching, consulting, discussing) is at least as important as the final written plan
Analyze the external environment Analyze the internal environment Define the business and mission Set corporate objectives Formulate strategies Make tactical plans Build in procedures for monitoring and controlling
Clarify direction of the business Ensure efficient use of resources Provide a way of measuring progress Support effective decision-making Co-ordinate activities Allocate responsibility Motivate & guide people
Trade of goods Trade of services MAIN objective: Making profit
RIGHT BUSINESS IDEA! Simple idea, a solution to a problem or a dream in someone’s head
What do they have? PASSION EG: Software (Bill Gates), Real Estate (Donald Trump), Entertainment (Walt Disney) What else?
Skills! Good cook open café Good mechanic open garage Good teacher open tuition school
What type of business? Nature of business? Name? Location? Resources? Cost of product / service? Price?
Two essential components: -identifying something that you love to and are good at doing -determining whether your idea can satisfy a need in the marketplace
Which type suits your business idea? Sole proprietorship? Partnership? OR others?
The name is the first thing that any potential buyer is going to notice and in this respect is more important than your sales pitch or even your end product. Ideally, names should be snappy, original and instantly informative as to what your business does. Customers should be drawn to a name that stands out from the crowd, but also find it trustworthy and professional.