Entrepreneurship

Course CodeBBS204
Fee CodeS3
Duration (approx)100 hours
QualificationStatement of Attainment

DEVELOP ENTREPRENEURSHIP SKILLS 

Entrepreneurs from all around the world are continually starting up new businesses. Some succeed, others fail. 

This course will help you to:

  • Learn to initiate, manage and succeed with business initiatives
  • Discover how to be more innovative in business
  • Recognise how to find opportunities and develop them

How do they decide what business to operate? How can you learn about the business opportunities available to you? What kind of goals should be set for a new business?

When considering becoming an entrepreneur, it is important to distinguish between an idea and an opportunity. A colleague once said “an opportunity is something you can do that someone else is prepared to pay for’.

When you take the plunge into entrepreneurship, you may be putting all of your worth at risk. Your life may become unbalanced, with increased working hours which take away time spent with your family and leisure time. The stress levels you may find yourself under may be much higher than when you were an employee. But the rewards if successful can be very high, and worth the risk.

If you are:

  • Passionate about business and want to set up your own
  • Someone who enjoys supporting others to develop their business through investment and support
  • Seek opportunities but are unsure how to go about it
  • Wanting to branch out from being employed to going alone

Then follow this course and find out where entrepreneurship can take you!


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Lesson Structure

There are 9 lessons in this course:

  1. Scope & Nature of Entrepreneurship
    • What is a Entrepreneur
    • Types of Entrepreneurs
    • Factors Affecting Entrepreneurial Success
    • Sources for Business Ideas
    • Intrepreneurs
    • Ethics
    • Entrepreneurial Process
  2. Is Entrepreneurship Right for You
    • Reasons for Becoming an Entrepreneur
    • Skills Needed by Entrepreneurs
    • Determining How Suited You are to Being an Entrepreneur
  3. Assessing opportunities
    • Questions To Consider
    • Assessing Opportunities
    • Entrepreneurial Lifecycles (Opportunity Recognition, Opportunity Focussing, Resource Commitment, Market Entry, Full Launch and Growth, Maturity and Expansion, Liquidity Event)
  4. The Role of Market Research
    • Obtain, Analyse, and Interpret the information necessary
    • Who Will Buy Your Products and/or Services
    • What Do They Want
    • Market Research Steps
    • Types of Market Research (Market Research, Product Research, Promotions Research, Sales Research, Company Research)
    • Gathering Data (Primary Data, Secondary Data)
    • What Needs Research (Physical Attributes, Behavioural Characteristics of Customers, Identifying Best Prospects)
    • The Research Process
    • Statistics
    • Researching Competitors
    • Tracking Trends
    • Staying Ahead of Trends
    • Questionnaires
  5. Intellectual Property
    • Copyright
    • Contract Law
    • Public Domain
    • Right to Privacy
    • Law & the Internet
    • Electronic Publishing
    • Patents
    • Designs
    • Trademarks
  6. Legal & Ethical Concerns
    • Types of Business (Sole Trader, Partnership, Private Limited Companies, Public Limited Companies)
    • Terminology
    • Legal Obligations
    • Operating a Business
    • Goals and Objectives
    • Resources -Premises, Equipment, etc
    • Stock & Suppliers
    • Identifying Business Functions
    • Thinking About Expenses & Costs
    • Dealing with Fluctuations in Demand
  7. The Business and Financial Plan
    • What is a Business Plan
    • Venture Capital
    • Forecasting
    • Setting Goals
    • Policies
    • Scheduling
    • Budgeting
    • Developing Procedures
    • What to include in a Business Plan
  8. Marketing
    • Gathering Information
    • Identifying Key Issues
    • Developing Strategies and Actions
    • Market Opportunity Analysis
    • Determine a Target Market
    • Engineer a Target Market
    • Market Objectives
  9. Launching a Venture
    • Launching
    • Start Up Assistance
    • Being Prepared for Change
    • Prepare Contingency Plans in Advance
    • Using Assets Well
    • Think Laterally
    • Core Business Focus
    • Taking Calculated Risks

Aims

  • Discuss the concept of entrepreneurship and identify the effect entrepreneurs can have on the economy.
  • Identify requirements to become a successful entrepreneur.
  • Clarify personal expectations, values, skills and experience.
  • Identify methods of investigating business opportunities that are in line with personal and business interests and values.
  • Discuss the importance of market research in order to understand potential customer requirements and market needs for a product and/or service.
  • Explain the legal and ethical aspects of ownership of ideas, designs, etc.
  • Explain and have the knowledge of relevant legislation and regulations affecting entrepreneurs.
  • Identify and explain all factors and costs that need to be considered in starting up and managing a venture.
  • Explain the essential elements of a business plan and the importance of financial planning.
  • Explain the key concepts of marketing to enable the student to develop and plan marketing strategies relevant to his or her entrepreneurial venture.
  • Describe various means available that can be used to launch and publicise a new venture.

QUESTIONS FOR ANYONE THINKING ABOUT BECOMING AN ENTREPRENEUR

Before you even start looking for business opportunities, as yourself the following questions. Use a checklist.

1. Why do you want your own business?

'Because I hate my current boss' isn't enough to become an entrepreneur. Is it because you prefer to be your own boss, because you think you can make more money working for yourself, because you want more flexibility in your working hours, because you have a great idea for a service or particular goods? You need to be really clear on your motivations for running your own business.

2. Are you prepared for the demands of owning a business?

Can you handle pressure, people, hard work, etc? Could you cope with the needs of an expanding business?

3. Do you understand the nature of business?

Don't go into business because you think it’s easy. If you think “I could do much better than that business owner”, be careful. Chances are that you might not understand what is involved, or the difficulties and demands of being an entrepreneur.

4. What are your chances for success?

Do you have relevant skills and/or knowledge, or can you easily get them? How much are you willing to learn and change? What characteristics and habits do you have that might hinder or help you as a business person? What can you offer that will improve your chances of success?

5. Can you afford to start?

Have you the capital, the proposed income, etc? Do you have a fall back option if the business does not prosper (e.g. your partner or spouse has an income)? Can you cope with short term financial losses and hold out until the situation improves?

WHY STUDY WITH ACS?

There are lots of reasons why you should sign up to do this course with us, including:

  • The information is comprehensive and will give you excellent depth to your knowledge about developing and investing in business
  • Within each lesson you have the opportunity to apply your learning to activities in order to extend your knowledge and research specific areas of interest, enhancing your understanding
  • Knowledge of key business development areas will enable you to stand out from others and give you greater confidence
  • Understanding about business can take you in to many different industries and sectors, giving you flexibility now and in the future with the opportunities you seek
  • Our subject specialist tutors will be there to support you throughout your course, they are only too happy to share their industry knowledge and experience with you
  • When studying with us you set your own deadlines, meaning you study at your own pace enabling it to fit around other commitments

TAKE THE NEXT STEP AND ENROL NOW!

You can enrol on the course now, but if you have any questions about the content of the course or studying with ACS, then please get in touch with us today - use our FREE COURSE COUNSELLING SERVICE to get in touch with our expert tutors. They will be pleased to help you!


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Meet some Of our academics

John Mason

John Mason is one of Australia's most prolific writers. He saw his first work published when at secondary school, where he worked on the school magazine. In 1973 he was writing a weekly column for his local newspaper and by 1975 he was a regular contributor to Australia's national magazine "Your Garden". John was engaged by Victoria's Dept of Youth, Sport and Recreation to write a book on Fun and Fitness Trails in 1978. In 1981 he saw two more books published (one in America, another in Australia), and commenced writing regularly for the Self Sufficiency Magazine, Grass Roots. John is a long term member of the Australian Society of Authors, the Garden Media Guild (UK) and the Horticultural Media Association (Australia). He has written or contributed to over 100 books, many published by international publishers and published more than 2,000 articles across a range of genres (Gardening, Education, Business, Farming, Fitness). In addition, John has contributed to and overseen the development of more than 600 distance education courses which encompass around 20 million words. He has been an avid photographer for 40 years, building a collection of over 100,000 images, which are used to illustrate his work. His marine animal photos are even used by Legoland in England, on their Atlantis ride! Writer, Manager, Teacher and Businessman with over 40 years interenational experience covering Education, Publishing, Leisure Management, Education, and Horticulture. He has extensive experience both as a public servant, and as a small business owner. John is a well respected member of many professional associations, and author of over seventy books and of over two thousand magazine articles.


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