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Decipher if their idea is feasible
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Understand what is involved in starting and running a successful business
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Assess themselves for the job of starting and developing their own business
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Set realistic goals and targets for themselves and translate to business goals
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Use the toolkit provided to them on this course to start to develop and grow a successful business
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Prepare a business plan - template is provided in soft and hard copy (long and short versions made available to Trainees in soft copy)
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Have a list of useful telephone numbers and contacts
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Know supports available – local and national
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Network effectively - place and presentation. Building relationships.
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Make sales – open and close sales, useful negotiation techniques
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Use the internet and technology to promote your product or service
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Collect money - Cash management and debt collection including cashflow forecasting
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Plan and conduct basic market research
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Register the business with the appropriate places, e.g. companies office
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Choose an appropriate business structure for their business idea
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Understand difference between company and sole trader
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Cost and price a product/service
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List sources of finance and assistance available to start-up businesses
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Use simple, practical promotion and advertising techniques
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Understand up to date tax obligations, deductible expenses, allowances and reliefs.
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Be aware of safety legislation and minimum requirements
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Operational issues, e.g. supplier profiling, premises, quality, insurance, technology
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Be aware of employment legislation and implications of taking on employees
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Time management (linked to costing)
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Work Life Balance
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Intellectual property and introduction to legal protection of same
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Other ways of getting into business: Buy an existing business, franchising
