“18 Failproof Steps To Launch a Business” – JEFF MILLER

“18 Failproof Steps To Launch a Business” – JEFF MILLER

ENTERPRSE54 – Jeff Miller, an entrepreneur with many business successes and Chairman of Seed Engine, a startup accelerator which, in celebration of the Nelson Mandela day, is offering a 10 week entrepreneurial course valued at R16,000 ($1,500) to a South African with a great business idea. According to Jeff, here’s 18 steps to start a business.

ENTERPRSE54 – Jeff Miller, an entrepreneur with many business successes and Chairman of Seed Engine, a startup accelerator which, in celebration of the Nelson Mandela day, is offering a 10 week entrepreneurial course valued at R16,000 ($1,500) to a South African with a great business idea.

According to Jeff, here’s 18 steps to start a business.
1. Think of an idea that would make a difference to your community.
2. Find a like-minded partner or two with complementary skills.
3. Specify the product or service in detail.
4. Identify why your product is better and why customers will prefer yours.
5. Define your target market and customer base.
6. Do some research with potential customers to see if they welcome the idea and whether they would use the product or service.
7. Work out the cost price of the product or service.
8. Work out the selling price.
9. Do research on competitors to see if the business is competitive.
10. Identify a list of suppliers.
11. Identify a list of potential customers.
12. Work out a simple marketing plan to reach your customers.
13. Work out the type of employees that you require and put a cost to it.
14. Work out other costs that are required to run the business.
15. Put a simple business plan together using all this information.
16. Put together a three minute pitch for the business.
17. Identify friends and family who could invest in the business.
18. Send your business plan to [email protected] by 20 August 2014.

 

 

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