starting a company

1  Start

 

Today you will meet your fellow company owners. You have to make some important decisions: Who gets which job in the company? What is the main focus of the company?

 

There will be groups of 6 students.

After the groups are formed you will get together and start thinking about a business idea.

The best way is perhaps to have a brainstorming session.

Just follow directions and you will get al the information you need!

 

Here are some tips for you to help you get started.

 

1. What about your Hobbies as a Business?

Many people have hobbies and skills, which could be turned into worthwhile and profitable businesses.
Make a list of your hobbies and brainstorm with your friends, family or group members
on how any of these hobbies could be turned into a business e.g.

 

2. Are there any
Gaps in the Marketplace?

Have you ever said to yourself “where can I buy.....?” or “why can’t I buy…?” in my local area or school. If so, a new business idea could be staring you in the face!

School: does your school have a sandwich service, or a tuck shop?

Home: Do people in your area find it difficult to find babysitters, children’s party planners, pet minders etc.?

Local Community: Is there a scarcity of locally produced craft items, gift items or cards in your area? Could your local community benefit from a simple phrase book in, for example, Polish to enable better communications?

 

3. Use Ideas which have been used before. Maybe you can give them a New Twist.

Remember many successful companies do not try something completely new, they build upon ordinary ideas and make something special of them. Look around your local area, what kind of businesses exist? Could you offer something better? Remember you will be going into
competition with these companies.

 

4. Use up Items lying around the Home.

In every home there are items lying around and of no use. These can provide a source of inexpensive raw materials, particularly, if you do not want to invest a lot of pocket money in setting up a business.

Remember to get permission before you use anything.

Business Management : What Is International Business?

IDEA GENERATION TECHNIQUES

There is a whole array of idea generation techniques which could be used in coming up with new ideas for businesses. One of these is brainstorming.

 

1. Brainstorming

Successful brainstorming generates massive quantities of diverse and sometimes fantastic ideas.
Fantastic ideas are good during brainstorming, not bad. You want a high quantity of ideas during brainstorming, not quality. There will be plenty of time later to dissect and analyse.

Effective brainstorming can take place in groups or individually. Some of the ideas submitted to a brainstorming session may seem off the wall initially. After consideration these may turn out to be perfectly good business ideas.

 

Rules for Effective Brainstorming.

- go through the list.

- identify which ideas may be possible and which ones are not possible to take further.

- start to brainstorm the positives and negatives of each idea that you think you could take further.

- then choose one idea



 

Cool Business Ideas

2         Divide roles between the team members

 

Now that you’ve come up with a business idea it is time to think about the roles in your team.

It is necessary to give each member a different role and responsibilities.

 

The skill needed in each team is at the next page in this workbook.

Go through them together and let every member decide which one fits them best.

What skills are needed in your team?

 

Effective teams will have a blend of the following skills. You should reflect on your particular skills and abilities. Consider what skills are necessary in setting up your team.

 

Production Skills

The skills necessary to make the product. For example, woodwork skills, drawing skills etc.

Organisational Skills

Making sure that you are well organised, can get orders done on time, can arrange and run meetings etc.

Finance Skills

Have you the skills to cost and price a product or service? Can you complete a forecast and accounts?

Promotional Skills

Someone in your group should be skilled in promoting the product or service.

Sales and Marketing Skills

These are very important skills, as someone in your group needs to be able to market the product or service and sell it.

Management Skills

Someone in your group needs to take overall responsibility to ensure that the job gets done.

 

 

 

When the Necessary Skills have been identified, set Ground Rules for you and for the Team.