Download - Business start up presentation
HAVE YOU EVER THOUGHT ABOUT STARTING YOUR OWN BUSINESS?
Basic guide to the fundamentals of starting a businessBy Chloe Welsby, Ali Hart, Sara Mcknight and Stefany Emsley
• What are you going to sell? – • Where ? - Online? - Benefits - Store? - Benefits• Is there a gap in the market for it?
CREATING YOUR BRAND OR PRODUCT
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Shopping Online
Buy online ONCE a month!
SIZING UP THE RELEVANT MARKET
1. Measurability2. Accessibility3. Target Market4. Size
RESEARCH THAT MARKET
• Research tools your going to use?• Who are your potential customers?• The competition• What price can you charge your product? (Comparing to what is already out there)
WHAT’S IN A NAME
STARTING UP COST ON A BUDGETS
Before you work out how to fund your business, you need to work out how much is needed.• Stock • Premises• Equipment and stationary• Website building• Logo and Brand design
FUNDING• DO NOT – Go too big too soon!• Where to get funding from? - Savings - Family and Friends - The Bank - Credit Cards - Grants - Investors
BASIC BOOKKEEPING USING EXCEL Picture 1 -
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MARKETING VS ADVERTISING
• Marketing – The action or business of promoting and selling products or services, including market research and advertising.• Advertising- The activity or profession of producing advertisements for commercial products or services.
VS
MARKETING PIE (MIX)
ADVERTISING
Media
Pla
nning
PRProduct
Pricing
Distribution
Customer
Support
Sales Strategy
Community
Involvement
Market Research
SOCIAL MEDIA
Social media is another platform to allow you to spread your business influences far wider than other marketing strategies at little or no
cost.
It provides another way of meeting business objectives and gaining new customers
SOCIAL MEDIACONTINUED
To make social media marketing work, you need to:• Make time to work it• Train staff on how to use it• Set aside a budget for advertising
SOCIAL MEDIACONTINUED
Benefits of Social Media Marketing:
• Increased Brand Recognition• Improved Brand Loyalty• More Opportunities to Convert• Higher Conversion Rates• Higher Brand Authority• Increased Inbound Traffic• Decreased Marketing Costs• Better Search Engine Rankings• Richer Customer Experience• Improved Customer Insights
LEGAL AND TAX FOR BUSINESS IN THE UK
• Legalities– and why they are important?• Business Structures • Employer and Employee Liabilities• Tax and VAT
LEGAL AND TAX FOR BUSINESS IN THE UK CONTINUED
• Copyright• Trademark • Patents
• Money Laundering• Data Protection
LEGAL AND TAX FOR BUSINESS IN THE UK CONTINUED
SALES OF GOOD ACT 1979
1. Lawful authority to transfer ownership2. Goods will match description3. Satisfactory quality4. Suitable for any purpose specified by the
buyer5. Match any sample shown to the buyer
prior to the contract
We hope now that you have listened to our presentation, you all have a better understanding of why most businesses fail and the key fundamentals of starting a business in the UK.
Thanks for your time
CONCLUSION