Entrepreneurship & Business Skills

• What is an Entrepreneur?
• Your self image
• Positive emotions and positive thinking
• Enthusiasm and creativity
• Your experience and skills
• Basic business concepts
• Natural resources
• Raw materials
• The Economy
• Interest and loans
• What is a risk?
• What is production cost?
• Income and expenses
• Loss and profit

The market and market environment

Key success factors for marketing

Competition

The marketing plan

How to determine:

• product
• promotion
• place
• price
• personnel
• customers

Advertising

• Needs of people
• Types of businesses
• Examples of different businesses
• The business plan

• Marketing area
• Transport services
• Capital resources
• Manpower/Labour resources
• Housing
• Natural resources
• Needs of the community, interested parties
• Purchasing of stock
• Payment methods
• How much to buy
• How to operate a calculator
• Budgeting for small, micro and medium enterprises
• Costing and pricing

• Sources of finance
• How to open a bank account
• Sales and profit making
• Basic bookkeeping
• Types of budgets
• Financial documents
• Credit facilities
• Establishing your product and its market
• Establishing your price
• Costing (continued)
• Employing people
• Taxation
• Statuary duties of the businessman
• Guidelines for obtaining credit

• Processing paperwork
• Design your storage system
• Filing hints
• Planning your office
• Using time effectively
• Handling business correspondence and documents
• Business writing skills
• Telephone etiquette

• Planning
• Organising
• Leadership
• Control
• Motivation
• Problem solving
• Communication
• Negotiation skills
• Customer care
• Client relations
• Time Management

Registration and orientation

• Compile a marketing and promotional plan
• Compile a plan for purchasing stock and material
• Costing and pricing
• Compile details of the record system to be introduced
• Compile a complete income statement
• Compile a complete cash flow forecast
• Compile a complete balance sheet
• Compile a manageable plan for the control of stock and credit
• Compile a manageable plan for improving selling skills and
• Customer relations

Compile documents to submit to financial institutions in order to access credit:

• Name of business
• Owners name, address and contact details
• Date presented
• Logo / emblem
• Contents page           
• Description for venture
• Type of ownership
• Legal requirements
• Operational methods
• Machinery and equipment required
• Location / layout
• Analysis
• Own qualifications / exposure
• Business goals and objectives

Evaluate viability of proposed business venture:

• Compile details of total amount of financial requirements
• Compile details of total of own contribution in Rand
• Compile retails of total Rand amount required to borrow
• Compile details of exact amount of capital and interest to be repaid monthly

Compile details of market research undertaken:

• Specify target market
• Specify projected turnover
• Compile plan for sale/promotion strategy
• Compile plan of competitors’ sales/promotion strategy

Compile a financial plan

Compile a plan for purchasing, costing and pricing business stock and materials

Establish a manageable record keeping system:

• Keeping records of moneys received and paid
• Expenses in categories
• Stock movements
• Assets purchased
• Amounts owing to debtors
• Amounts owing to creditors
• Wages and salaries paid

Registration and orientation

• Compile a marketing and promotional plan
• Compile a plan for purchasing stock and material
• Costing and pricing
• Compile details of the record system to be introduced
• Compile a complete income statement
• Compile a complete cash flow forecast
• Compile a complete balance sheet
• Compile a manageable plan for the control of stock and credit
• Compile a manageable plan for improving selling skills and
• Customer relations

• Background to storekeeping
• Basic functions and purpose of storekeeping
• Definition of store keeping
• Storing of goods
• Issuing of goods
• Store layout
• Store safety
• Store security
• Housekeeping
• Documentation: Ordering
• Documentation: Receiving
• Documentation: Goods received
• Documentation: Stock record
• Documentation: Goods issued

• What is an entrepreneur?
• Your self-image
• Positive emotions
• Your enthusiasm
• Your experience
• Your skills
• Creativity
• Make your brain fit

• Needs of people
• Types of businesses
• Examples of businesses
• Using time effectively
• Building a business

• Marketing
• Promotions and advertising
• Customers

• Purchasing
• Documentation
• The calculator
• Costing
• Pricing
• A manufacturing business
• A service business
• Business plan

• Keeping books and records
• Why keep records
• The one-book system
• Cash flow
• Look after your money

• Obtaining an order
• Investigating the financial standing of a prospective customer
• Recording sales transactions in the financial system
• Issuing receipts
• Balancing a cash book
• Balancing a sales book
• Balancing a debtors ledger
• Balancing a general ledger
• Following up on outstanding accounts
• Selecting a supplier
• Receiving goods
• Paying creditors
• Balancing the purchases book
• Balancing the general ledger

• Gain product knowledge
• Prospect
• Determine selling price
• Mark up products
• Market products
• Process applications for credit
• Control debtors
• Collect money due
• Reconcile debtors’ statements
• Pack a store
• Implement security
• File debtors’ records
• Keep records of cash received
• Work and balance a cash register
• Record sales

• Demonstrate the use of a calculator
• Explain entrepreneurial qualities
• Describe a business and its objectives
• Describe the selection of a business opportunity
• Assess the market
• Prepare a business plan
• Describe source of finance
• Describe planning and decision making
• Describe objectives and strategies
• Describe budgeting and policies
• Describe performance standards and measurement of it
• Describe the purchasing function
• Describe retail purchasing
• Describe the pricing process
• Describe merchandise display
• Describe shop layout
• Describe stock control
• Describe stocktaking procedures
• Describe customer relations and service
• Describe advertising and promotion
• Describe advertising planning and organisation
• Describe selling procedures
• Describe sales performance and correspondence
• Describe record keeping systems
• Describe basic financial principles
• Describe profit, loss and budget planning
• Preparation of action plans
• Describe credit control
• Monitoring of accounts
• Describe entrepreneurial development
• Describe business success and/or failure
• Describe business growth
• Describe staff management
• Describe staff recruitment