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Business Skills Training & Fish Marketing

Business Skills Training & Fish Marketing. Kwamena Quagrainie Regina Edziyie Purdue University, USA KNUST, Kumasi. Business Planning. Business Description Market Analysis Competitor Analysis Marketing Plan Operating Plan Financial Plan. Business Description. Business Information

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Business Skills Training & Fish Marketing

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  1. Business Skills Training & Fish Marketing Kwamena QuagrainieRegina Edziyie Purdue University, USAKNUST, Kumasi

  2. Business Planning Business Description Market Analysis Competitor Analysis Marketing Plan Operating Plan Financial Plan

  3. Business Description • Business Information • Business Name, Address, Phone / Email • Write down 1 – 3 things to accomplish (business objectives) • What you plan to do – produce and sell? • What is your target production? • Where do you want to see this business in 5 to 10 yrs time?

  4. Business Description List equipment needed Any required skills? How will you obtain the necessary facilities / equipment - lease / purchase? What kind of market will you be selling in? Brief description of potential customers? How will you measure success of the business?

  5. Market Analysis • Who is your customer! • How much fish can they buy / how big is the market? • What are the price ranges / quality issues? • What are the trends in the fish market?

  6. Record Keeping • Objective:Understand importance of good record keeping practices • Facilitate discussions • Which records do you keep & why? (list on flip chart) • Purchases, sales, inventory, debts/liabilities, assets/savings • The Why • Planning, assess changes/trends, growth, seasonality, profitability, • Identify problems

  7. Business Assessment • Objective:Understand need to assess business performance • 2 volunteers • Elicit costs of business (list on flip chart) • Quantities bought & sold • Prices – own & competitors • Debts & savings • Facilitate discussions

  8. Profit & Loss Analysis • Objective:Understand profitability – track income, expenditures, debts & liabilities • Basic addition & subtraction (Use flip chart) • Itemize revenues & costs • Revenues – sales • Costs - fingerlings, feed, transportation, nets, utencils, time, construction, labour, etc • Profit = Revenues – Costs (income less expenditures) • Role play or group assignments

  9. Financial Details • Enterprise budgeting • Pro forma financial statements • Income statement • Cash flow statement • Balance sheet • Scenario analysis: Optimistic, Most likely, and Pessimistic • Break-even analysis

  10. Funding for this workshop was provided by theINNOVATION LAB

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