Starting Your Business

Turning an idea into a reality requires strategic planning, forecasting and sound implementation strategies. Here you'll find workshops providing you with the know-how to establish your company's mission and vision, prepare a business plan, identify a target market, and conduct a market and competitive analysis. Once you have completed these processes, you'll be ready to establish a sales and marketing plan, evaluate funding options and identify the resources necessary to operate the business.

By accessing the following multimedia courses, small business owners and employees can improve their skills at their own pace.

• Developing a Business Plan
  The importance of planning should never be overlooked. For a business to be successful and profitable, the owners and the managing directors must have a clear understanding of the firm's customers, strengths and competition. Whether yours is a new business or an existing business in the process of expanding, money is often an issue. Taking time to create an extensive business plan provides you with insight into your business. This document can serve as a powerful financing proposal. This workshop takes you through the step-by-step process of developing a business plan.
  
  
• Conduct a Marketing Analysis
  Every business must know its customers inside and out before opening its doors or launching a new product. Those that conduct a thorough marketing analysis first not only gain knowledge of their potential market's wants and needs, but also learn whether or not there is "room" in the marketplace for a new concept. This comprehensive workshop will show you how to create a marketing analysis for your business.
  
  
• Analyzing Your Competition
  Almost everyone in business understands the principle of trying to offer something better than what their competitors are offering. Gaining an advantage is the key to success and even survival. This workshop helps you to see how your strengths stack up against your competitors' weaknesses and suggests ways to take advantage of marketplace opportunities. After you have performed the analysis, there are four basic competitive strategies to consider.
  
  
• Preparing a Cash Budget
  Just as you would not purchase new furniture for your home without enough cash, or at least a solid plan to cover a personal loan from your bank, your business needs the same careful handling of its expenditures. All businesses, no matter what type or size, need to properly develop a plan for their expected cash intake and spending. This plan is commonly known as a cash budget, and will provide you with a blue print of how the business will operate financially.
  
  
• Targeting Your Market
  Imagine practicing archery with your eyes closed or throwing a football with a blindfold on. In both cases, being prevented from seeing your target would make it nearly impossible to hit it. This concept can easily be applied to business, as well. Doing business without knowing what your target market is will prevent you from reaching your objectives: increased sales, market share or brand awareness.