Owning a business requires a vision balanced with attention to detail. You need to be a generalist who understands the multiple aspects of running a business, as well as the ability to step back and see the big picture and to reach into the future. The business environment is a complex place to be. Whether you wish to work as a consultant or freelancer, establish a corporation, or set up an operation that meets a need for very particular type of customer, there is a tremendous amount of information that you need to know and to apply. This course provides essential learning for new business owners, whether the business is just in the idea stage or you have already begun and need to fill in the gaps.
WHAT STUDENTS LEARN
- How to apply the best methods for creating, leading, and managing their own business
- Ways to establish an organisational framework through operations, finance, and leadership
- Techniques for setting up an effective and efficient system for hiring, retaining, and succession planning
- How to start researching and designing a strategic plan
- How to describe the essential elements of marketing, sales, and their company brand
- How to apply financial and accounting terms correctly
WHAT TOPICS ARE COVERED
- Who are you and what are you about?
- Designing your organisational structure
- Introduction to operations management
- Understanding financial terms and budgeting
- Getting the right people in place
- Getting your product together
- Building a corporate brand
- Marketing and selling your product
- Planning for the future (including succession planning, goal setting, and strategic planning)
- Ethics 101 and leadership essentials
- Building a strong customer care team
- Training employees for success
Who Are You and What Are You About?
To start, a business owner should define what their business is (and is not). This session will give participants some ways to help them define their business’ purpose and structure. They will also consider their role as an owner and what that really means.
Designing Your Organisational Structure
Next, participants will look at some different types of organisational structures.
Introduction to Operations Management
In this session, participants will learn what operations management is all about and the different categories that it applies to.
Understanding Financial Terms
Having a good handle on your numbers is a key part to any business’ success. This session will introduce participants to basic accounting terminology, generally accepted accounting principles (GAAP), and key financial reports.
Getting the Right People in Place
Another crucial part of a business is knowing when and how to hire help. This session will provide a six-step framework for hiring and recruiting.
Getting Your Product Together
In this session, participants will look at different aspects of product management, including inventory management, the value chain, outsourcing, and quality control.
Building a Corporate Brand
Next, participants will learn the basics of branding. Topics will include positioning statements, brand names, slogans, and visual identities.
Marketing Your Product
This session will explore the six stages of the marketing cycle, as well as the five P’s of a solid marketing plan.
Selling Your Product
In this session, participants will learn about building their sales force and the sales cycle.
Planning for the Future
Once a business has gotten your feet on the ground, owners may want to start taking a look at the future. This session will introduce participants to strategic planning.
Goal Setting and Goal Getting
In this session, participants will learn how to set achievable goals with the SPIRIT model.
Another aspect of planning for the future is considering who will fill the shoes of the key people in a company. This session will explore what succession planning is (and is not).
Managing Your Money
The final piece of the planning puzzle is budgeting. This session will give participants techniques for building and sticking to a budget.
Another thing to consider is the ethical principles of a business. This session will explore why codes of ethics are important. We will also share some sample codes of ethics.
Building a Strong Customer Care Team
Next, participants will learn about the six critical elements of customer service, as well as how to develop and maintain customer relationships.
Training Employees for Success
In this session, participants will consider why lifelong learning is important for an organisation’s success.
The final session of this course will explore the differences between leading and managing. They will also learn about Paul Hersey and Ken Blanchard’s the Situational Leadership II® model, as well as techniques for managing performance.
At the end of the course, students will have an opportunity to ask questions and fill out an action plan.
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