How to Start a Business: Processes and Practices

Many people express a strong desire to set up and manage their own business, to be independent and have control over their own destiny. Equally, many people have very good business ideas, which regrettably, are never pursued because of the lack of knowledge, skills and understanding of the processes and practices involved in how to start a new business.

Here we take a look at how to assess business ideas and identify what is required to turn these ideas into reality, how to develop your creativity and enterprise skills to assess the feasibility and market potential of your idea. This will include researching the idea, analyzing the market, marketing the business, determining start up costs, cash flow, and evaluating the resource requirements for the start-up.

You will also learn how to produce a business plan, which could be used in the future to launch your new business venture.

• Introduction: Enterprising aptitude/ Entrepreneurial DNA
• Finding your business idea: Creativity & business ideas – Spotting opportunities/ tools for generating winning ideas.
• Developing a strong Value proposition and Business Canvas Model
• Creating a Business Plan
• Understanding your Industry, Market Customers and Competitors.
• Elevator Pitches
• Small Business Marketing – Marketing Mix
• Digital Marketing Communications for Small Businesses
• Financial costing and forecasts for your business: Costing/ Sales forecast/ Cashflow/ Profit & Loss
• Financing your business/sources of funds

Recommended Books:

• Paul Burns: New Venture Creation 2nd Ed (2018) Palgrave
• Book Cover Image Paul Burns Entrepreneurship and Small Business (2016) Palgrave
• David Rae: Entrepreneurship, From opportunity to Action (2007)

studymumbai

StudyMumbai.com is an educational resource for students, parents, and teachers, with special focus on Mumbai. Our staff includes educators with several years of experience. Our mission is to simplify learning and to provide free education. Read more about us.