Course Outline and Topics
Course Overview
So you have an idea for a small business? Starting a business is exciting but it can also be overwhelming, which is why it’s important to have the skills and knowledge to turn that idea into a successful reality.
The Certificate of Small Business (Start-Up) is an online professional development program that will provide you with the skills and knowledge to launch your new business and achieve your business goals.
In this online small business course you will learn how to analyse the feasibility of a business idea or the health of your existing business and discover the operational elements of managing a small business.
You will learn how to undertake small business planning, including profiling the market and planning small business finance and marketing. You will also discover a range of business management planning tools and strategies, including how to develop a business plan for your existing or new small business.
On completion of this course you will feel confident to get your small business off the ground for the best chance of success.
Course Structure
Unit 1 - Plan small business finances
- Analysing costs
- Financial cost analysis
- Costs and profit margin
- Expenses
- Direct and indirect costs
- Job and process costing
- Overheads
- Double entry accounting
- T accounts
- Break-even sales
- Contribution margin
- Pricing strategies
- Market conditions
- Profit statements
- Balance sheets
- Historical data
- Sales & marketing plans
- Market trends
- Competition
- Financial planning
- Working capital requirements
- Project projections
- Capital requirements
- Working capital ratio
- Buying and depreciation
- Licensing and leasing
- Cooperative arrangements
- Legal requirements
- Cash flow
- Preparing a sales forecast
- Budget types and targets
- Forecasting
- Operations budgeting
- Reporting tools
- Start-up costs
- Finance sources
- Investment
- Equity finance
- Debt Finance
- Overdraft / line of credit
- Grants subsidies
- Tax concessions
- Bootstrapping
- Financial viability
- Business loans
Unit 2 - Profile the market
- Marketing plans
- Market analysis
- Segment the market
- The value of segmentation
- Factor and cluster analysis
- Samples
- Niche markets
- Psychographic segmentation
- Lifestyle segmentation
- Data collection
- Quantitative analysis
- Time series analysis
- Profile target audience
- Profiling reports
- Positioning strategy
- Product life cycles
- Demand
- Past market performance
- Sales and profit data
- Pricing strategies
- Promotion
- World wide web positioning
- Press releases
Unit 3 - Establish networks
- Establish networks
- Networking strategies
- Pursue network opportunities
- Networking events
- Communicate new networks to colleagues
- Effective networking activities
- Professional networks and associations
- Business relationships
- Promote benefits
- Negotiation skills
- Effective listening skills
- Collaborative problem-solving skills
- Group decision making
- Network contact problems
- Specialist advice
- Promote the relationship
- Promote interests and requirements
- Goals and objectives
- SMART goals
- Target market
- Policies and practices
- Business communication paragraph
- Presenting written information
- Communicating information
- Feedback
- Improve promotional activities
Unit 4 - Undertake small business planning
- Elements of business plan
- Purpose of business plan
- Mission statement
- Business description
- Products / services
- Goals and objectives
- Developing a business plan
- Resources
- Compliance requirements
- Work health and safety
- Market needs
- Employers / employees
- Consultation
- Costs of finance
- Collateral
- Venture capitalists
- Banks
- Leasing and hire purchase
- Promoting market exposure
- Operations plan
- Staffing requirements
- Risk analysis
- Record keeping
- Risk management planning
- Risk matrix
- Contingency plans
Unit 5 - Market the small business
- Marketing strategies
- Key products and services
- Marketing activities
- Product / services features
- Organisational strategy
- Customer base
- Target market
- Demographics profiles
- Psychological profiles
- Competitor analysis
- Marketing objectives
- Ethical strategies
- Product volumes and pricing
- Distribution channels
- Cost benefits
- Marketing
- Promotional activities
- Customer service levels
- Customer journey
- Marketing strategies
- Staff briefing
- Market objectives
- Budgetary requirements
- Digital devices
- Platforms and technologies
- AdWords
- Business performance
- Performance gaps
- Improvement plans
- Setting new targets
- Customer requirements
- Trends
- Marketing development
- Forecasting
- New business opportunities
Unit 6 - Review and maintain a website
- Review website content
- Analyse customer feedback
- Feedback forms
- Collect website data
- Identify trends
- Analyse data
- Cost implications
- Updating website
- Ensure accuracy
- Authenticity
- Legal requirements
- Content Management Systems (CMS)
- Security procedures
- Passwords
- Data encryption
- Site maintenance
- Active links
Unit 7 - Investigate micro business opportunities
- Business ideas
- Gather information
- Good information sources
- List ideas and opportunities
- Competitors
- Skills of owner / operator
- Research alternative business ideas
- List products and services
- Organisation capability
- Product / service features
- Business strategy
- Research potential customer information
- Marketing segments
- Financial skills
- Digital technology skills
- Business skills
- Technical support
- Market needs
- Market size and potential
- Ethical and cultural requirements
- New and emerging markets
- Sources of inspiration
- Investigate new business opportunities
- Export markets
- E-commerce opportunities
- Market growth or decline
- Risk factors
- Force field analysis
- Factors affecting the market
- Population changes
- Economic market activity
- Labour force changes
- Price movements
- Trends and developments
- Forecasting
Unit 8 - Establish legal and risk management requirements of small business
- Business legal requirements
- Sole trader
- Partnerships
- Companies
- Trusts
- Not-for-profit organisations
- Legislative requirements
- Compliance flow chart
- Gannt charts
- Regulatory requirements
- Environmental agencies
- Formal study
- Taxation requirements
- Capital depreciation and gains
- Maintain legal documents
- Products and services
- Legal responsibilities
- Non-compliance
- Negotiate contracts
- Contractual rights
- Contract termination
- Contractual procurement rights
- Supplier contracts
- Leasing a premises
- Buying a premises
- Business risks
- Internal and external risks
- Impact of risk
- Risk matrix
- Risk treatment
- Insurance requirements
- Action plans
Assessment
Written assignments and exercises, including short-answer questions, reports/essays and projects. There are no examinations or due dates for assessment.
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