Starting a Business Setting up Humanity

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РЕГИСТРАЦИЯ

Starting a Business

Setting up

Humanity always develops

How to begin Advice Reasons for setting up Business idea Consider success of business Planning Setting up the business Running the business Finance

Reasons for setting up: • Satisfy personal creative needs • Way to find employment • Ability to extend hobby to business • Or others …. .

Independence • Make own decisions • Responsibility

Commitment to a product • New invention • Special rights

Result of redundancy • Redundancy payments • Skills • Free time

Getting a business idea • Every business starting from idea And this ideas can coming from:

Existing skills • Driver • Gardener • Guide • Babysitter • Cook • Accountant

Ideas from college • Most useful • Most simple • Most cheap • Most welcome

Adaptation Of cause you can do it better: You know what customer need You know all weaknesses of original product

Gap in the market • Innovation • Individual approach • New market • New target group

Market research • Customer needs • Observations • Predict • Brand portfolio

QUESTION: What products or services do you know which Russian companies made from foreign analogs?

Answer • Cars • Social network Fiat lada Facebook vkontakte

Chances to success By information of Department Trade and Industry success 65% 35% 25% 10% clossed in first 18 months clossed in first 5 years

Finding information about the market What are straights and weaknesses of competition? To find out it use: • Secondary research • Primary research

Marketing and promotion That helps to: • Undercut competitor’s prices • Increase sells

Cheaper methods of promotion • Advertising in local magazines and newspapers; • Sending leaflets by direct mail • Offering discounts • Make Internet website

Expensive methods of promotion • Advertising abroad • Advertising on television • Advertising in national magazines or publications with glossy advertisements • Use large national advertising agencies

People • Take care of safety and heath of employees • Work with professionals • Retrain workers

Finance • 50% businesses borrowing money • A lot of people sell their houses to raise finance • Overdraft

Special rights • Develop • COPTRIGHT • Patent • copy

Risks • Risk • Timeline • Cost • Part-time job

Planning • Understand aims and priorities • Predict achievements

What’s inside business plan • Our idea • Our strategy • Information about competitors • Why bank should give us loan • Our chances to be successful

Business plan used to • Give clear idea of its direction and operation • Show bank our position and ability to pay back a loan • Identify problems that may occur to allow the business • Highlight our straights and weaknesses

QUESTION • What does business plan allow to start up?

Getting advice • Individuals • Banks • Government

Finance • Personal savings • Funds from partners and investors • Credit purchases • Leasing • Banks and finance institutes • Venture capitalists • Organizations & business angels • Government funds • Industry

QUESTION • What kinds of finance are minor costly?

How to set up • Licensing • Buying a business • Buying a franchise • Setting up a new business alone • Setting up with others

Running a business Keep all transactions records: • • Sells Purchases Equipment Payments Use of documents

Documents • Invoices • Cash receipts • Credit notes • Proofs of delivery

Thank you for your attention!

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