Generate a business idea from everyday activities to start your own micro business.

1. Explain what product/service you will be providing. What will the main activities of this business be?
2. Why do you want to pursue this idea? Do you have the support and motivation to pursue such an idea? motivate your answer.
3. Discuss your target market - who are your customers?
4. Do you have the skills and means to meet your customers' needs?
5. How will you market your idea to your customers?
6. Explain the difference between the feasibility and viability of the business idea.
7. Formulate a mission statement as well as 4 long objectives for your business.
8. prepare a cash budget for the first 2 months of your own business.
9. Identify the main activities of your business by means of a job analysis and then identify possible jobs / positions in your business.
10. Prepare a job description and job specification for one of these position.
11. Discuss five important considerations when choosing the right sources and forms of finance.
12. Discuss five reasons why an entrepreneur should have thorough knowledge and understanding of financial management and explain five typical problems entrepreneurs face in obtaining finance.
13. Briefly explain five unique problems that small business entrepreneurs face in obtaining finance.

Asked Jan 23, 2016
Edited Jan 23, 2016
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Director For Finance
Answered Feb 29, 2016
Varhandziwa, You explained very well about generating business ideas activities, It's really awesome, I appreciate it, I would like to add some points regarding generating business ideas activities such as:
- Meet New People Around Business
- Explore new ways of thinking
- Read more and more books regarding business
- Try to market research around interest
- Focus on Problems around the community.
Answered May 31, 2019

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