Qualifications

Conflicts of interest

Price

Service provided

Experience and industry knowledge

Friendliness /personal rapport

Networking

Inputs (Stuff and labour)

Transformation (Combining inputs)

Outputs (The end result)

Home Based

Serviced Office

Business Incubator

Rented Premises

Purchased Site

Geographic

Public transport

Environmental aspects

Competitors

Context

Straight line, L, U, S shape

Grid Layout

Open-plan

Botique

Manufacturing

Labyrinth

Economic Order Quantity (EOQ)

Environment

Just-in-time

Phased Purchase Stategy

Hire & Lease

Buy new or second-hand

Set standards

Measure

Compare measured with standards

Make corrections

GANTT, PERT, CPM

Scheduling mechanisms

Inspection regimes

Productivity indicators

Timing of evaluation

Quality assurance (QA)

Contingency plan

Risk number

Security

Insurance

Statement of goals & objectives

Efficient use of time

Consider alternatives

Management and staff development

Financial management

Strategy or improvisation

Lack of planned strategy

Strategy constricted by financialconstraints

More unplanned / guessed work

Formal planning is rare

Owner manager sees no advantage

Lack of strategic planning butnot strategic thinking

Trial & Error learning

7.5% of all business exit each year

1/3 after 15 years

1/2 after 10 years

2/3 after 5 years

Finance

Marketing

Production

Personnel

Personal skills & attributes

External Competition

Changing External environment

For Financial performance

Debt

Equity

Own money (E & D)

Family & Friends (E & D)

Efficiency

Profitability

Licenses & Permits

Working capital

Equipment

Market led

Research led

"The function that links the consumer,customer and public to the marketer throughinformation"

Constrains

Risk of new competitors entering

Threat of substitutes

Bargaining power of buyers

Bargaining power of suppliers

Degree of rivalry from competitors

1-2 owners

Financed by the owner

Limited market share

Limited life span

Part-time basis

Low net profit

"The process, brought by individuals, ofidentifying new opportunities and convertingthem into marketable products and services."

A communication tool

A sales tool

A road map

A blueprint

An agreement

A proposition

A research paper

Comprehension

Appropriateness

Sustainability

Feasibility

Accountability

Clear statement of direction andpurpose

Encourages goal setting

Holistic perspective

Encourages better research

Used to raise finance

Integrates operations, financeand marketing aspects

Not a guarantee of success

Cannot eliminate uncerrtainty

Inaccurate or outdated info Relianceon a predetermined plan can dodamage

VC

Bankers

Investors

Large customers

Laywers

Suppliers

Brief, professional, point ofview, self-explanatory

Shape your own vision

Flexibility

Cheap to start

New lifestyle goals

Sole proprietorship

Partnership

Company

Evaluation

5 tests!

Traps to avoid

Market Research

Statuory Requirements

Find resources

Evaluate

Financial projections

Business plan

Who owns the technology?

Is it patentable?

Innovation patent?

Standard patent?

Does it work?

Better than rivals?

Applications?