Starting a Small Business Online Course

Do you have a unique idea or product and are ready to start your own business?

You just need to know the basics so you have a better chance of succeeding in this highly competitive market place.  This online business course will show you how to develop and implement a business plan that will have your competitors wondering where you sprang from.  You will be set to enter the market strong and with stability that will ensure a successful future for both your business and your product/service.

This course aims to make sure your business is one of the successful ones! You not only learn how to start a business, but under the guidance of a professional business expert, you plan and initiate development of a business venture. There are two parts to the course, in the first part you learn about how to run a business.  You then either start a business (this may be very small, or larger), or review the running of an established business. Over several lessons your tutor guides you through several stages to assess, analyze and improve operations in this “real life situation”.

You will learn about the business world and where small business lies within that structure.  We will inform you of some alternatives to small business so you can make an informed choice regarding the best path for you.  We will show you the fundamentals of marketing and planning when starting a small business.  You will discover how to develop and implement a 12-month business plan and the importance of reviewing your plan and progress.  You will also uncover some techniques for improving the profitability of your small business and ultimately its likelihood of success.

Course Aims

  • Discuss the nature of small business and the skills required to run one successfully.
  • Explain the legal requirements, restrictions and the costs of running a small business.
  • Describe the different aspects and considerations associated with starting a new or buying an existing business.
  • Explain the marketing process.
  • Explain the importance of planning in the running of a successful business.
  • Explain the importance of record keeping and the principles of bookkeeping.
  • Determine sales and promotions strategies in small business.
  • Explain the importance of budgets.
  • Develop a business plan.
  • Implement a business plan.
  • Identify factors that affect profitability.

Lesson Outline

Introduction to Small Businesses
  • Nature and success factors
  • Primary, Secondary or Tertiary business
  • Scope and Types of Businesses
  • Options –size, products, positioning, legal structure, specialisation, type of industry
  • What makes it a “small” business
  • Key Success factors –entrepreneurship, market niche, information, reputation, flexibility
  • Understanding Risk of Failure
The World of Business
  • Business structures –sole trader, partnership, companies (public and proprietary)
  • Advantages and disadvantages of different types of ownership
  • Small Business and the Law
  • Importance of record keeping
  • Regulations affecting site and operations
  • Components of a legal system –lawmakers, interpreters, enforcers, administrators, advisors
  • Common law rights and obligations
  • Protection of Consumers
  • Trade practices, trademarks, brands, business, IP.
  • Business Registration
  • Employment Law –employment contracts
  • Business disputes –negotiation, arbitration, mediation, etc.
  • Contract Types –employment, lease, sale of goods or services, insurance, etc.
  • Prerequisites of a contract –what comprises a contract?
  • Taxation and small business
  • Insurance –private, property damage, life insurance, business insurances for risk management
  • Business Case Study
Considering the Alternatives
  • Goods manufacturing, or services
  • Factors to consider -market niche, location, goodwill, personal factors, etc
  • Business terminology
  • Establishing a new small business
  • Considering options of buying into a franchise, buying an established business or starting up from nothing.
  • What to look for when buying an established business
  • Understanding franchising
  • Guidelines for starting something new
Understanding Marketing
  • Nature and scope of marketing
  • Purpose of Advertising
  • Managing the marketing process
  • The marketing concept
  • Marketing goals
  • Marketing plans
  • Strategic marketing planning
  • Marketing objectives and strategies
  • Target markets
  • Developing a marketing mix
  • Organising the Planning Process
  • Reviewing a Business Situation
  • Business Mission Statement
  • Establishing marketing objectives
  • Broadening geographical representation
  • Maximizing customer service
  • Developing strategies to achieve objectives
  • Increasing market share –geographical expansion, market penetration, price factors
  • Analyzing market opportunities –external influences and internal influences
  • General economic conditions
  • Government policies and regulations
  • Marketplace laws
  • International influences
  • Demographics
  • Technology
  • Changing Customer attitudes and values
  • Activity of competitors
  • Alternative marketing methods
  • Analyzing business resources, market share, product characteristics, advertising, price, innovation potential financial capacity.
  • Selecting Target markets
  • Mass marketing, niche marketing, differentiated marketing, etc
  • Physical basis for market segmentation
  • Behavioural basis for market segmentation
  • Developing the Marketing Mix
  • Branding and packaging
  • Understanding the price element
  • Pricing methods
  • Understanding the promotion element
  • Public relations, advertising, sales
  • Distribution
  • Product life cycle
  • Analyzing costs and benefits
  • Managing a marketing plan
  • Structuring advertising or promotions
  • Publicity Marketing
Planning
  • Scope and nature of planning
  • Developing a business plan
  • The planning process
  • Checklist for a business plan
  • Market research
  • Business plan pro forma
Record Keeping and Bookkeeping
  • What records are essential?
  • The simplest approach to financial bookkeeping
  • The value of financial records
  • Source documents
  • Cash book
  • Credit sales and credit purchases
  • Bank reconciliation
  • Petty Cash
  • The Balance Sheet
  • Classification of the balance sheet
  • Working capital
  • Profit and loss statement
  • Preparing a profit and loss statement
  • The link between profit and the balance sheet
Sales Methods
  • Personal Selling
  • Rules of Selling
  • Types of Selling
  • Types of customers
  • The Salesperson -characteristics and knowledge needed
  • Using the telephone
Budgeting
  • Scope and nature of budgets
  • Types of budgets
Developing a 12 month Business Plan
  • Planning for manpower needs
  • Planning where to work from initially (eg. home, leased or purchased property)
  • You will create a simple plan within the following framework, submit, and recive feedback from our academic staff on what you propose.
  • Description of the Business
  • Motives for Entering Business
  • The Opportunity and Strategy
  • The Target Market
  • Relevant Experience and Skills
  • Financial Assistance Required
  • Financial Projections
  • Financial Summary
Implementing a Business Plan
  • This lesson considers how the plan you developed might be implemented.
  • Consider who is going to do the work: how will you manage to get things implemented
  • Motivating employees
  • Delegating work tasks
Reviewing Progress in a New Business
  • Monitoring performance
  • Evaluating Performance
  • Modifying performance
Improving Profitability
  • How can profits be increased
  • Business expansion and sources of finance
  • Overdraft facility
  • Equity Credit
  • Fully Drawn Advances / Term Loans
  • Bills of Exchange
  • Leasing
  • Inventory Financing
  • Sources of Funds
  • Information required when sourcing funds
  • Good Management Practices

Enrol Now

  • Experienced Tutor support
  • Certificate sent to you
  • Online study (Printed notes available)
  • Self paced - no set timetable
  • 12 months to complete course

From: $25.00 / week for 32 weeks

Clear

Send me a free info pack

Do you have a unique idea or product and are ready to start your own business?

You just need to know the basics so you have a better chance of succeeding in this highly competitive market place.  This online business course will show you how to develop and implement a business plan that will have your competitors wondering where you sprang from.  You will be set to enter the market strong and with stability that will ensure a successful future for both your business and your product/service.

This course aims to make sure your business is one of the successful ones! You not only learn how to start a business, but under the guidance of a professional business expert, you plan and initiate development of a business venture. There are two parts to the course, in the first part you learn about how to run a business.  You then either start a business (this may be very small, or larger), or review the running of an established business. Over several lessons your tutor guides you through several stages to assess, analyze and improve operations in this “real life situation”.

You will learn about the business world and where small business lies within that structure.  We will inform you of some alternatives to small business so you can make an informed choice regarding the best path for you.  We will show you the fundamentals of marketing and planning when starting a small business.  You will discover how to develop and implement a 12-month business plan and the importance of reviewing your plan and progress.  You will also uncover some techniques for improving the profitability of your small business and ultimately its likelihood of success.

Course Aims

  • Discuss the nature of small business and the skills required to run one successfully.
  • Explain the legal requirements, restrictions and the costs of running a small business.
  • Describe the different aspects and considerations associated with starting a new or buying an existing business.
  • Explain the marketing process.
  • Explain the importance of planning in the running of a successful business.
  • Explain the importance of record keeping and the principles of bookkeeping.
  • Determine sales and promotions strategies in small business.
  • Explain the importance of budgets.
  • Develop a business plan.
  • Implement a business plan.
  • Identify factors that affect profitability.

Lesson Outline

Introduction to Small Businesses
  • Nature and success factors
  • Primary, Secondary or Tertiary business
  • Scope and Types of Businesses
  • Options –size, products, positioning, legal structure, specialisation, type of industry
  • What makes it a “small” business
  • Key Success factors –entrepreneurship, market niche, information, reputation, flexibility
  • Understanding Risk of Failure
The World of Business
  • Business structures –sole trader, partnership, companies (public and proprietary)
  • Advantages and disadvantages of different types of ownership
  • Small Business and the Law
  • Importance of record keeping
  • Regulations affecting site and operations
  • Components of a legal system –lawmakers, interpreters, enforcers, administrators, advisors
  • Common law rights and obligations
  • Protection of Consumers
  • Trade practices, trademarks, brands, business, IP.
  • Business Registration
  • Employment Law –employment contracts
  • Business disputes –negotiation, arbitration, mediation, etc.
  • Contract Types –employment, lease, sale of goods or services, insurance, etc.
  • Prerequisites of a contract –what comprises a contract?
  • Taxation and small business
  • Insurance –private, property damage, life insurance, business insurances for risk management
  • Business Case Study
Considering the Alternatives
  • Goods manufacturing, or services
  • Factors to consider -market niche, location, goodwill, personal factors, etc
  • Business terminology
  • Establishing a new small business
  • Considering options of buying into a franchise, buying an established business or starting up from nothing.
  • What to look for when buying an established business
  • Understanding franchising
  • Guidelines for starting something new
Understanding Marketing
  • Nature and scope of marketing
  • Purpose of Advertising
  • Managing the marketing process
  • The marketing concept
  • Marketing goals
  • Marketing plans
  • Strategic marketing planning
  • Marketing objectives and strategies
  • Target markets
  • Developing a marketing mix
  • Organising the Planning Process
  • Reviewing a Business Situation
  • Business Mission Statement
  • Establishing marketing objectives
  • Broadening geographical representation
  • Maximizing customer service
  • Developing strategies to achieve objectives
  • Increasing market share –geographical expansion, market penetration, price factors
  • Analyzing market opportunities –external influences and internal influences
  • General economic conditions
  • Government policies and regulations
  • Marketplace laws
  • International influences
  • Demographics
  • Technology
  • Changing Customer attitudes and values
  • Activity of competitors
  • Alternative marketing methods
  • Analyzing business resources, market share, product characteristics, advertising, price, innovation potential financial capacity.
  • Selecting Target markets
  • Mass marketing, niche marketing, differentiated marketing, etc
  • Physical basis for market segmentation
  • Behavioural basis for market segmentation
  • Developing the Marketing Mix
  • Branding and packaging
  • Understanding the price element
  • Pricing methods
  • Understanding the promotion element
  • Public relations, advertising, sales
  • Distribution
  • Product life cycle
  • Analyzing costs and benefits
  • Managing a marketing plan
  • Structuring advertising or promotions
  • Publicity Marketing
Planning
  • Scope and nature of planning
  • Developing a business plan
  • The planning process
  • Checklist for a business plan
  • Market research
  • Business plan pro forma
Record Keeping and Bookkeeping
  • What records are essential?
  • The simplest approach to financial bookkeeping
  • The value of financial records
  • Source documents
  • Cash book
  • Credit sales and credit purchases
  • Bank reconciliation
  • Petty Cash
  • The Balance Sheet
  • Classification of the balance sheet
  • Working capital
  • Profit and loss statement
  • Preparing a profit and loss statement
  • The link between profit and the balance sheet
Sales Methods
  • Personal Selling
  • Rules of Selling
  • Types of Selling
  • Types of customers
  • The Salesperson -characteristics and knowledge needed
  • Using the telephone
Budgeting
  • Scope and nature of budgets
  • Types of budgets
Developing a 12 month Business Plan
  • Planning for manpower needs
  • Planning where to work from initially (eg. home, leased or purchased property)
  • You will create a simple plan within the following framework, submit, and recive feedback from our academic staff on what you propose.
  • Description of the Business
  • Motives for Entering Business
  • The Opportunity and Strategy
  • The Target Market
  • Relevant Experience and Skills
  • Financial Assistance Required
  • Financial Projections
  • Financial Summary
Implementing a Business Plan
  • This lesson considers how the plan you developed might be implemented.
  • Consider who is going to do the work: how will you manage to get things implemented
  • Motivating employees
  • Delegating work tasks
Reviewing Progress in a New Business
  • Monitoring performance
  • Evaluating Performance
  • Modifying performance
Improving Profitability
  • How can profits be increased
  • Business expansion and sources of finance
  • Overdraft facility
  • Equity Credit
  • Fully Drawn Advances / Term Loans
  • Bills of Exchange
  • Leasing
  • Inventory Financing
  • Sources of Funds
  • Information required when sourcing funds
  • Good Management Practices

Send me free info pack

Enrol Now

  • Experienced Tutor support
  • Certificate sent to you
  • Online study (Printed notes available)
  • Self paced - no set timetable
  • 12 months to complete course

From: $25.00 / week for 32 weeks

Clear
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