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NCV 4 New Venture Creation Hands-On Support Slide Show - Module 1

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Future Managers
Future Managers

This slide show complements the learner guide NCV 4 New Venture Creation Hands-On Training by Bert Kirsten, published by Future Managers Pty Ltd. Visit our website at www.futuremanagers.net

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New Venture Creation 4
Module 1: Investigate the possibilities of establishing and running a SME
Module 1: Investigate the possibilities of establishing and running a SME ,[object Object],[object Object],[object Object],[object Object]
1. IDENTIFY AND RESEARCH THE POTENTIAL FOR AN SME AS AN OWN BUSINESS ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.1 Personal strengths, weaknesses, abilities and passions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Example: Rock star
1.1.1 Knowledge ,[object Object],[object Object],[object Object],[object Object]
Knowledge about a business
Activity 1 ,[object Object],[object Object]
Knowledge about the industry you are going to enter ,[object Object],[object Object],[object Object],[object Object],[object Object]
Knowledge needed to produce the product ,[object Object],[object Object]
1.1.2 Skills ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Activity 2 ,[object Object]
1.1.3 Personal attributes
Activity 3 ,[object Object],[object Object]
1.2 Match personal traits, abilities and profile to a business opportunity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Business leaders:
Business leaders ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Business leaders ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Innovative manager ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Innovative manager ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Innovative manager ,[object Object],[object Object],[object Object],[object Object]
Craftsmen ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Craftsmen
Craftsmen ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Craftsmen ,[object Object],[object Object],[object Object],[object Object]
Licentiate ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Licentiate ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Licentiate ,[object Object],[object Object],[object Object],[object Object]
Freelancer ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Freelancer ,[object Object],[object Object],[object Object],[object Object]
Freelancer
Home business entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object]
Home business entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object]
Home business entrepreneur
Analyst ,[object Object],[object Object],[object Object],[object Object],[object Object]
Analyst ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Activity4 ,[object Object]
1.3 Identify training requirements of an SME ,[object Object],[object Object],[object Object]
Activity 5 ,[object Object],[object Object],[object Object]
Decide when and where to access training ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.5 Research the need for the identified product or service and possible competition Competition Demand
1.5.1 Researching the need ,[object Object],[object Object],[object Object],[object Object]
1.5.2 Possible competition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Activity 6 ,[object Object],[object Object]
1.6 Decide on distribution channels
1.6.1 Understanding distribution channels ,[object Object],[object Object],[object Object],[object Object],[object Object]
1.6.1 Understanding distribution channels ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.6.2 Selecting channels for small businesses ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Activity 7 ,[object Object]
1.7 Select a suitable location for a selected SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.7 Select a suitable location for a selected SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.7 Select a suitable location for a selected SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.7 Select a suitable location for a selected SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.7 Select a suitable location for a selected SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.7 Select a suitable location for a selected SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.8 Investigate municipal by-laws and other constraints ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.9 The importance of networking for a SME ,[object Object],[object Object],[object Object]
1.9.3 How to find your network ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
1.9.4 Getting the most out of networking ,[object Object],[object Object],[object Object],[object Object]
2. IDENTIFY THE RISKS ASSOCIATE WITH AN SME ,[object Object],[object Object],[object Object],[object Object]
2.1 Describe and provide examples of risk in a SME ,[object Object],[object Object],[object Object],[object Object],[object Object]
2.1.1 Financial risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.1.2 Risks associated with being an employer ,[object Object],[object Object],[object Object]
Procedural risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Health and safety risks ,[object Object],[object Object],[object Object],[object Object]
Operational risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.1.2 Growth risks for three different scenarios ,[object Object],[object Object],Starting up Maturity Decline Time
Scenario 1: Starting up stage ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Scenario 2: Maturity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Scenario 3: An existing business that is already well established and wants to take it’s growth to the next level ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.1.4 Risks associated with stock and other business assets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.1.6 Marketing risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.1.7 Advertising risks ,[object Object],[object Object]
Activity 9 ,[object Object],[object Object]
2.2 Determine the possible measures to reduce risk ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.2.1 Financial risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.2.1 Financial risks ,[object Object],[object Object],[object Object],[object Object],[object Object]
2.2.1 Financial risks ,[object Object],[object Object],[object Object],[object Object],[object Object]
2.2.2 Being an employer ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.2.3 Growth risks for three different scenarios ,[object Object],[object Object],[object Object]
2.2.3 Growth risks for three different scenarios ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.2.4 Risks associated with stock and other business assets ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.2.5 Risks associated with marketing and advertisements ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.3 Explain the needs for marketing, advertising and insurance
2.3.1 Marketing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.3.1 Marketing ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.3.2 Advertising ,[object Object]
2.3.3 Insurance ,[object Object],[object Object],[object Object]
2.3.4 When should insure
2.3.5 Business insurance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.3.6 Reducing your risks and premiums ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
2.3.7 Home business insurance ,[object Object],[object Object],[object Object],[object Object],[object Object]
2.3.8 Liability and professional indemnity cover ,[object Object],[object Object],[object Object],[object Object]
2.3.11 Getting insurance ,[object Object],[object Object]
Activity 8 ,[object Object],[object Object],[object Object],[object Object],[object Object]
3. EXPLAIN THE FINANCIAL ASPECTS INVOLVED IN RUNNING AN SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3.1 Explain the concepts of start-up and working capital
3.1.1 Start up capital ,[object Object],[object Object]
3.1.2 Working capital ,[object Object],[object Object]
Short-term liabilities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Current assets ,[object Object],[object Object],[object Object]
3.3 Financial controls required to ensure that a business is viable Established standards methods for measuring performance Measure performance Does performance match standards? Take corrective action No action needed
3.3.1 Cash flow figures as a financial control measure ,[object Object]
3.3.2 Working capital as a control measure
3.4 Types of contracts which an SME can enter into ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3.5 Contract wording ,[object Object],[object Object],[object Object],[object Object]
Contracts that need to be made in writing ,[object Object],[object Object],[object Object],[object Object],[object Object]
Legal terms ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Activity 9 ,[object Object],[object Object],[object Object],[object Object]
Activity 10 ,[object Object],[object Object],[object Object],[object Object]
Contract categories ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3.6 Explain the tax responsibilities of a SME ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3.6.2 Types of tax ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Provisional tax ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3.7 Small Retailers Vat Package ,[object Object],[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object],[object Object],[object Object],[object Object]
VAT ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object],[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object],[object Object],[object Object]
3.8 Explain when a business is liable for each form of tax ,[object Object],[object Object]
4. MAKE AND SUPPORT A DECISION ON WHETHER TO ESTABLISH AN SME ,[object Object],[object Object],[object Object],[object Object]
4.1 Explain the concept of an entrepreneur, with reference to risk ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.1 What is an entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.1 What is an entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.2 The relationship between being an entrepreneur and being willing to assume risks ,[object Object],[object Object]
4.1.3 The characteristics of a successful entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.3 The characteristics of a successful entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.3 The characteristics of a successful entrepreneur ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.4 Do you need to be a natural-born entrepreneur to succeed in a business venture? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.4 Do you need to be a natural-born entrepreneur to succeed in a business venture? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
4.1.5 Can entrepreneurship be learned? ,[object Object],[object Object],[object Object]
Activity 12 ,[object Object],[object Object],[object Object],[object Object]
Activity 13 ,[object Object],[object Object]

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