| 1 |
Understand how to develop a proposal to start a new business | 1.1 |
Explain a new business idea |
| 1.2 |
State the reasons why it is a viable business proposal |
| 1.3 |
Describe business objectives using the Specific Measurable Achievable, Realistic and Time-bound (SMART) model |
| 1.4 |
Describe the typical start up costs for a new business |
| 1.5 |
Explain how to forecast cash flow |
| 2 |
Be able to develop a proposal to start a new business | 2.1 |
Devise a three year plan of business objectives using the Specific Measurable Achievable, Realistic and Time-bound SMART) model |
| 2.2 |
Estimate start up costs for a business idea |
| 2.3 |
Produce a 12-month cash flow forecast |
| 3 |
Understand how to develop a marketing strategy in line with a business proposal | 3.1 |
State the reasons why a Strengths, Weakness, Opportunities and Threats (SWOT) analysis is an important part of the marketing process |
| 3.2 |
Describe the type of market research to be carried out for a new business |
| 3.3 |
Describe how to use the results of market research to assess business viability and target markets |
| 3.4 |
Explain the factors that affect a product/service offering |
| 3.5 |
Explain how to schedule a promotional plan for the business |
| 4 |
Be able to develop a marketing strategy in line with a business proposal | 4.1 |
Produce a Strengths, Weakness, Opportunities and Threats (SWOT) analysis in line with a business proposal |
| 4.2 |
Outline how the strengths and opportunities can be capitalised on, and weaknesses and threats be overcome |
| 4.3 |
Carry out market research activities appropriate to the business proposal |
| 4.4 |
Analyse the results of the market research |
| 4.5 |
Develop a 12-month promotional plan |
| 4.6 |
Design promotional materials that accurately communicates the business offering to the target market(s) |
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