This Level 3 Start Your Own Business qualification has been specifically designed to help you to think about the need for careful planning in your approach to launching a new business venture. Designed for those who are new to running a company, the course will explain some of the key features of a new business and help you to organise your thoughts and ideas into a full business plan that will assist you in creating a financially successful company.
Throughout the 6 units there will be different topics covered and we will consider the key aspects required when first starting a new company. Starting a new business can be one of the best things you ever do and lead to financial independence and a very satisfying career. With this qualification you should be able to better understand and appreciate the skills and knowledge required to turn your dream business into a reality.
|Study time:||100 hours|
|Enrolment length:||12 months|
|Course format:||Paper based pack|
|Assignments:||6 written tasks|
|Entry requirements:||None specific|
To begin this start your own business qualification, we will look at the need for basic planning and structure that is required from all businesses. By looking at the necessary skills of an entrepreneur and business owner we will be able to identify the skills which need to be developed and enhanced as you build up your company.
We will also look at ways to assess the present market and any competitors which may already be operating in the sector that you wish to work. By knowing this information, you will be able to tailor your approach to provide a product or service that is very competitive in the sector.
Good communication when starting your own business is always extremely important to any business. Without the basics any company in any sector will struggle to work as a unit and fail in different areas. Unfortunately, a surprising amount of companies fail in what is possibly the most basic of needs for a company- communication.
In this unit we will explore the need for strong communication throughout an organisation as well as develop skills of making these skills stronger for the benefit of your new company. Many people view communication as something that requires no work and that it is ‘easy’. These people are usually the ones who fail miserably in this area and by not devoting any time to ensure that their company is communicating well, they can start to lose customers and revenue.
In this unit we will look at the need for basic planning and structure that is required when marketing a business and specific products. We will also look at ways to assess the present market and any competitors which may already be operating in the sector that you wish to work. By knowing this information you will be able to tailor your approach to provide a product or service that is very competitive in the sector.
In the fourth unit of this start your own business course we will be looking at one of the most important aspects of any business- finance. Some new businesses are created through the love of the industry or to help other people, whereas others are created purely for financial gain. Either way, a business needs to be financially stable to be able to compete in the industry and attract customers. Without a financially stable business you could soon find that the money going out of a company is exceeding that which is coming in- which obviously creates a massive issue.
The finances of a business are far from the most glamorous aspect of being a business owner but it is arguably the most important. Understanding the money coming in and the money going out is extremely important and you need to have a firm grasp on basic accounting and monetary skills in order to succeed.
Most new businesses will begin life with just one person- a sole trader. But it may be that your business will not be able to operate in this manner and that you need to hire people from the very beginning or very soon after setting up. There are many important things to consider when doing this and in this unit we will explore the various points of interest concerning employment and staffing in a new business.
There comes a point in any business when it will need to employ more people to help the operations of the company. It is simply impossible for a business to continue to grow if there is only one person involved. This person may work harder and be incredible at what they do but there are only so many hours in a day and it will be impossible for the company to continue to expand with limited staff.
In this final unit of the course we will be exploring the need for a business plan before you launch a new business and how to write these. There are many different things to consider when writing a business plan and you must be able to identify lots of areas and strategise how your business will progress.
A good understanding of the market in which you operate will help at all times when planning the direction you wish for your company to travel. Here we will learn to identify your competitors, potential routes to market and how to develop and grow your business through carefully planned action. Even if you have already launched your own business- it is never too late to write a well-structured business plan that will organise your thoughts and ambitions for the company.