Business Start-up

Unit purpose and aim(s)

Element 1 - Analyse entrepreneurial and market potential

Assess the marketing environment and how it impacts and influences your business idea
Assess your own capability against the needs of the proposed business venture

Element 2 - Build the business idea

Scoping and refining a business idea – what it might look like, feel like, act like and be like and researching the market to make sure the business idea is of interest to your customers

Element 3 - Plan the marketing approach

Build the unique selling proposition, knowing who the customer and market is and how, creating the scope of the product and/or service, pricing it, promoting it, selling it, servicing it and building brand recognition

Element 4 - Plan the operations

Able to identify the need for the right legal set-up for the new business venture, while identifying the right people, operational processes and resources for the new business start-up

Element 5 -  Plan the budget

Develop a funding and operational budget for the new business start-up, including a daily cash flow along with setting key business performance indicators to monitor performance

Element  6 - Create the business plan and pitch

Developing a business plan that incorporates all of the above
The ability to pitch and present effectively for business funding from a range of sources

Qualifications for this unit:

ABE Level 3 Certificate in Business Start-up