Start Your Own Business

Start Your Own Business
Tues 7.00 - 9.00 
8 weeks
Price: €120

Session 1: Business Evaluation.
We look at what makes a good business and what makes a good entrepreneur. We teach students various methods of appraising business ventures. We also look at the importance of specialisation. "In a commodity type business, you are only as good as your dumbest competitor!” Warren Buffet.

Session 2: Business Structure, Licences & Permits.
We look at the advantages & disadvantages of the three main business structures, Sole Trader, Partnership & Limited Company. Students are shown how to register a company and / or a Business Name with the CRO, register a Patent, register a Trade Mark and the legal basis of Copyright.

Session 3: Communication, Insurance & Business Location.
Central to the success of business is ability to communicate with all of its stakeholders. Too many businesses fail to recognise the importance of good communication. We explain the main Insurance headings that businesses need to consider. We also demonstrate a business location matrix, which is a simple scoring mechanism for evaluating where is the best place to locate your business.

Session 4: The Balance Sheet and The Profit & Loss Account.
This session is aimed at students with no accounting background. We explain the main headings in the Balance Sheet thereby enabling students to verify the financial health of their new business. We use the P&L to show students how to calculate cost per unit and also to show the drain of overheads.

Session 5: Cash Flow & Business Funding.
We demonstrate how cash is the fuel that drives your business and how without this fuel, your business will immediately shut down. We look at how to fund your business through bank loans, merchant credit, personal & outside investment, Government Grant & the BES scheme.

Session 6: Marketing
We demystify the marketing jargon and show how marketing is about finding out what people want (market needs) and give it to them at a price they are prepared to pay. People do not buy "products"; they buy problem solving or desire satisfying solutions.

Session 7: Revenue Commission, Business Purchase & Franchising.
We demonstrate how to register your business with Revenue, register as an employer and go through the criteria for registering for VAT. We further go on to discuss how sometimes it may be more profitable to buy an existing business than start a new one. We also go through the criteria one should look at before entering a franchise agreement.

Session 8: The Business Plan.
Most potential entrepreneurs think Business Plans are just for investors and banks. We show students how the Business Plan is central to the setting up of a successful business. We bring students step by step through a questionnaire which builds up into a comprehensive Business Plan.