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The entrepreneurial journey…

The entrepreneurial journey…. The entrepreneurial journey…. How to start a business. Idea generation Make a team Make a business plan Obtain approval from government Register a company Register with the tax office Open a bank account Start the operation. Various business ideas.

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The entrepreneurial journey…

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  1. The entrepreneurial journey…

  2. The entrepreneurial journey…

  3. How to start a business • Idea generation • Make a team • Make a business plan • Obtain approval from government • Register a company • Register with the tax office • Open a bank account • Start the operation

  4. Various business ideas • Car wash business • Groceries store • Dry cleaning business • Electronic repair shop • A market research company • Processing & packaging company • A restaurant • Farming business • Consignment shop • Ecommerce business • Child care service • Photography • Dance/yoga teacher etc.

  5. Before starting a business Make a business plan • Executive summary • Business description • Market analysis • Customer analysis • Competitive analysis • Organizational structure • Sales strategies • Financial planning & budgeting

  6. Two most important components of a business plan

  7. Business model • Sub set of a business plan • A description of how a business makes money Components of business model • Projected startup costs and sources of financing • Target customer base • Marketing strategy • Competition • Projections of revenues and expenses

  8. Types of business model Business model focus on • How the company delivers value to customers • Gets them to pay for that value, and • Converts those payments to profit Major types Manufacturer Distributor Retailer Franchise

  9. Other types of business model • Direct sales • Franchising • Advertising based • Brick-and-mortar • Brick-and-clicks • Freemium model • Subscription model • Nickel-and-dime (AirAsia) • High touch • Low touch etc.

  10. 5 stages of a successful business…

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