Featuring a dynamic and thriving cafe business, this video documents the process of establishing a small business in a competitive market. In telling their story, the owner-operators highlight the many personal, practical and legal considerations involved in starting a business, and identify the factors that have been critical to their early success.
Topics covered include: - Personal features needed to start a business - Identifying and planning business opportunities - Assessing and monitoring the target market - Establishing a competitive advantage - Cost control and financial management - Legal responsibilities - Supply networks - Staffing.
Using a case study of a newly established restaurant, this programme investigates: · What a business plan is, and why it is important. · Different types of business plans. · The key elements of a business plan – vision and mission statements, operations, marketing, finance, the executive summary. · Common planning tools – SWOT analysis, break-even analysis. · The importance of regularly evaluating the business plan.
A business plan is one of the most useful management tools the small business owner can use. It maps out what a business needs to do in a systematic and logical way. In this programme we discuss the importance of a well constructed business plan, visiting the three main components; the operations plan, the marketing plan, and the financial plan. Speaking to two successful small business owners, we discuss how they constantly refer to their business plan, and the role it played in their business success. A brilliant overview of this essential business tool.