how to turn your business idea into reality!
TRANSCRIPT
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Or >> How to Turn Your Business
Idea into Reality!
Shema Elmenshawy – Project Manager (Feb 2017 )
(they`re working on their ideas as groups)
Small business
definition
Types
Of entrepreneurs
Types
of
projects
S.Business
VS collapsed economy
pitch
your business
Motivation
Ability
Idea
Resources
Research the
market & plan
marketing
Explore funding & plan
finances
Gather team & plan
operations
Write Your
Business Plan
Take lots of advice & network
Negotiate Yourself
Into Business
6 M`S
Management
Man power
Material
Machines
Market
Money
Risk Evaluation – SWOT Analysis
• Outline Strengths and Weaknesses of the business and yourself.
• How can any known weaknesses be overcome?
• What opportunities exist and how can they be exploited?
• What are the threats, including the competition, and how can they be overcome or mitigated?
Feasibility study
Market Finance Technical
(know how) BMC
1st Workshop presentation
Write a Business Plan ???
WHY:
• Makes you think through the idea in some depth!
• It is a test to see if your idea will stand up to scrutiny!
• Usually essential if you want to borrow money !
• Provides an ongoing reference point for when you are in business!
Profit
Break even
point
Variable costs
Fixed costs
Budget Cash flow Financial statement Profit margin
2nd Workshop presentation
