Entrepreneur’s
Master Class (Module 1) Overview
Entrepreneur’s start with a business idea or opportunity
they perceive as having potential. Depending on their experience and knowledge
they approach the opportunity in different ways. This master class is designed
to provide entrepreneurs with an overall approach that will minimise risks and optimise
their ability to succeed. It will outline what are the important deliverables
and things to do to move from idea/opportunity to the next stage of starting to
create a proposition in a way that is sustainable. It will provide approaches,
tools and advice so that they can follow some proven processes, and they will
learn to avoid early stage pitfalls.
What are some of the
pitfalls?
·
An interesting idea but too difficult or
expensive to create.
·
“This is a new market” there is no competition
·
A solution to a known problem but not practical
for the customer.
·
“One we have the product it will run off the
shelves”
·
An innovative opportunity but only a small niche
market for it
·
The entrepreneurs enthusiasm exceeds the
competence required to deliver
·
The available expertise and resources are not
sufficient to support investment required.
·
Where do I start?
·
Who can help me?
Objective of Module
Participants on completion of the Module will have a clear
understanding of what is important at each stage of creating a new business.
They will have the knowledge to decide what is important for them to focus on
at the start of a business in the context of their own business. They will have
a set of tools to enable them confirm the viability and practicality of their
business idea/opportunity and they will have created some foundations for the
business.
Some topics that will be covered
·
The proposition/solution creates the opportunity
but what problem does it solve, or what is the true opportunity.
·
Is there a market and how big is that market?
(How to find out?)
·
What will be required to bring the
product/service to market?
·
Competitive analysis (How will we compete?)
·
What resources & competencies are required
(Where can they be sources?)
·
Research versus Development
·
How can I get help? (Advice and support
available)
·
Sources & Types of finance
·
Some things to do now, that do not have
immediate payback but have long term benefit
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