The essential elements of a profitable business

The 12 essential aspects of running a business are identified and explained to the participant to assist them in operating their own business or the environment they work in.

The 12 aspects are detailed below and explained in the workshop.

The Idea
- Creation of this "thing" - write it down
- Try to harness it by describing "it"
- Be as specific as possible
- Give it shape, magnitude and direction - drawings and diagrams

Product or service
- Tangible or intangible
- What is it? - describe in detail
- Start to define " SWOT"

Marketing
- Differentiation within the market place
- Matrix
- Volumes and pricing
- Competitive advantage, barriers of entry
- Ad-spend - below or above the line, virtual?

Finance
- Initial start-up capital
- Budgets relating to every sector
- Bridging capital
- Operating capital
- Financial ratios
- Managing capital - cash book to balance sheet
- Daily figures .... " life and heart of the company " needs to be managed and directed in the correct manner
- Nett Asset Value

Procurement
- All requirements purchased or negotiated
- EOQ, JIT, Inter-modal
- Fixed, variable, semi-variable
- Pre-qualifying vendors
- Lead times, quality vs quantity
- Policy document
- Outsourcing

Premises
- Physical or virtual
-Actual premises or interactive virtual website
- Location, location, location
- Define clients expectations
- Image - sector - adapt

Operations
- Physical or virtual
- How many "widgets do you have to cater for" - lead times
- Weeks 1 to 52 allocated - monitor daily
- Distribution chain - what is required?
- Local - international - virtual
- Inter-modal - road, rail, sea, air, broadband
- Labour intensive - be creative

Human Capital
- Most important - actualize your dreams and others
- Have fun while on the journey - enjoy the adventure
- Staff can enjoy their time at the company - building up relationships - fellow staff members, clients and suppliers
- Unknown factor that can contribute the most to be bottom line - vision and approach
- Don't live in the past. Learn from it and live in the PRESENT. Bring the future into the present - compression factor : 1.0 vs 8.6
- Google no: 1 company to work for in the world

Electronic hubs
- If virtual business - critical to lead times
- Product distribution and info updates
- Keep the client informed
- Data base
- Banking infrastructure
- Procurement
- Company sectors - sharing of info

Legal
- Sole prop, CC, Pty (Ltd), listing on stock exchange
- Buy and sell
- The Law of contract
- Inter-modal definitions

Training and re-evaluation
- Hubs within company need to be evaluated within the overall context of the overall unit.
- Not intrusive BUT complimentary to each other
- Have the best aspects highlighted in people
- Most people not suited to their assignments
- Interaction and cooperation between hubs

Nett profit
- The overall indicator
- Smooth interaction between hubs reflected on the bottom line
- Sharing resources vs me only indicator
- Profit before tax
- Expansion vs allocation to shareholders

WORKSHOP INVESTMENT - R900.00
Cost includes copy of all slides to work from, light lunch and refreshments.
Proof of payment issued once funds are deposited into the business account.

Contact Raymond to book:

Cinao Business Mentors cc
tel: 011 615 9767
cel: 076 5143558

Date: 28 October 2010
Venue: NGN House, Riley Road Office Park, 15E Riley Road, Bedfordview
Cost: R900

More info:

adequate parking within a business park complex. Access controlled.