Starting Your Own Business

Introduction

Welcome to Starting Your Own Business – Business Keys to Succeed which is a guide to start a business based on preparation, identifying your purpose and creating a plan for success!

Millions of people each year are spending a lot of time and money in start-up attempts. Unfortunately, most of these entrepreneurs have little understanding of what is involves or what it takes to succeed. As a result, approximately 50 percent of small businesses survive their first year of operation. By the tenth year, between 80 and 90 percent have failed.

These statistics aren’t meant to invoke fear, but rather a sobering challenge to educated yourself. Underestimating the difficulties in starting a new business is perhaps why so many entrepreneurs are forced the throw in the towel during the early years. Most people trying to start new companies- and  they’re from all educational backgrounds- don’t know what’s involved nor do they have any formal training about the start-up process. 

This introductory course is designed to meet that need in both a practical and personal way – as though the instructor is providing you with a one-on-one consulting session in order to map out a strategy that’s best for your particular      needs. Before we start reviewing how to start your new business, you need to understand a few things about yourself.  

Before you start the course, please take our FREE profile entitled Your Unique Profile that will provide you with personal information about yourself to be used in this course.

In this course we are going to examine the basic information to prepare to start a new business. We will review the following:

1. Purpose – explains your reason for being or existing. What is your reason, intention or drive to start or increase your business?
2. Preparation – we will review your current frame of reference, personal capacity and the three solutions your business can solve within your targeted area.
3. Planning – only 15% of companies have a plan and only 5% are using that plan! You need a plan and, in this section, we will review the following:

• Key Learning’s from past and present experiences
• Components in a business – Innovation, Concepts, Execution and Solutions
• Planning Template which includes:

           Vision, Mission and Purpose

Values, Goals and Assumptions

SWOT Analysis: Strengths, Weaknesses, Opportunities and Threats

Long – term and Short – term Goals

Critical Issues and Key Decisions