Start Your Own Business Level 3

This course assesses the following units:

Unit 1: First steps

• Identify the necessary personal skills needed to start and run a business successfully
• Understand the need for market research and identifying your competitors
• Understand basic financial planning, sales and profits
• Understand the need for data protection which every business must abide by

Unit 2: Communication and Customers

• Understand internal communication within an organisation
• Identify the methods of communicating with people externally from the business
• Identify various tools of communication that can be used within a business
• Understand various feedback methods including asking for reviews through face-to-face and online methods
• Work closely with employees and be able to give feedback and praise to improve performance

Unit 3: Marketing your business

• Identify the balance between competitive pricing and quality when marketing products
• Understand the need for great customer service and how this can be encouraged throughout your organisation
• Fully understand various types of advertising and marketing possibilities for various industries

Unit 4: Finance

• Understand ways of generating finance to launch a new business
• Be able to understand the requirements of setting up a new company and operating within the requirements needed for financial security
• Understand cash flow
• Be able to produce basic financial accounts

Unit 5: Employing staff

• Understand what job roles employing may be employed to carry out
• Be able to carry out interviews and work through the entire interview process with candidates
• Explain delegation and various techniques used to motivate staff
• Identify different training needs and methods that help to make your workforce a strong unit

Unit 6: Developing a business plan

• Understand the need for a business plan
• Identify all of the requirements of a business plan and what is to be included
• Outline financial information that is to be projected when planning a new business
• Appreciate the need for margins of error to be incorporated

This course can be taken over a 12 month period but you can complete it as fast or as slowly as you wish.

To pass this course learners must pass 6 assignments. These are completed after navigating through the corresponding lessons and writing your answers to assignment questions. Once these have been read and marked by your personal tutor, feedback and marks are provided to students which contain helpful tips to improve work in future assignments.