introduction to starting your own business

Introduction To Starting Your Own BusinessTo Do List

• What’s my

business idea?

• Do I have what

it takes?

• Plan It

• Find additional

support

Ingol and Tanterton Community Trust (INTACT), Preston11th March 2015

About Phil ParramoreStarted own business Summer 2013New Enterprise Allowance ParticipantWakefield Business Support ProgrammeStart Up LancashireMember of the Institute of Leadership and Management Serial Networker – lots of contacts that can help youLeader of a local networking groupRecently survived my first year and now in 2nd year growthMentor of NEA participants and growth businessesLove being my own boss!

Introduction To

Starting Your Own Business

Idea, hobby or interest

that could be come a

business? What customer

problem or opportunity

are you trying to address?

What do I include in my

business plan?

Next Steps and

additional resources

What marketing tools can I

use?

Do you recognise

your strengths

and weaknesses

?

What skills and attitudes do business

owners need?

What We Will Cover

What We Won’t CoverTypes of business and legal structures – sole trader, partnerships,

limited companies, Social Enterprise, Charities, etc. Income tax, National Insurance and VAT Branding, naming and ‘intellectual property’ Ways of working and organising yourself Complying with the lawFinance – but just remember

Cash Is King!Without It You Have Nothing

What skills, capabilities and attitudes does a business owner need? How To Do List

• Two minutes

to consider

individually

• Full group

discussion

What goes in your business plan?Business Idea

Business Aims & Objectives Personal Aims & Objectives Key Personnel Personal S.W.O.T. Products & Services Pricing

Market Research. MarketingCompetitors S.W.O.T.Premises Equipment Survival Income Profit & Loss Projection Cash Flow Projection Personal Profile

What goes in your business plan?

What is Your Business Idea/ Value Proposition? 1) What customer problem or opportunity will your business seek to address?

2) How will your business stand out from the crowd? (Price, Quality, Different)

How To Do List

• Consider

individually (10

mins)

• Work in pairs (10

mins)

• Coffee &

networking break

• Pitch & get

feedback (2 mins)

What are your personal strengths and weaknesses?

How To Do List

• Consider

individually (15

mins)

• Group discussion

(15 mins)

Market Research and Marketing

1) Get opinions about whether people will buy your product or service?

2) Discuss what marketing tools you will use to get your business known

How To Do List

• Consider

individually (10

mins)

• Work in pairs (10

mins)

• Group discussion

(10 mins)

Phillip Parramore MBA MInstLM

Business Growth Advisor

T:  0345 241 5323

E:  info@guidedotyou.co.uk

W: www.guidedotyou.co.uk

Facebook: www.facebook.com/guidedotyou

Twitter: @PhilParramore

Thank youFrom GuideDotYou

Change Solutions