Compass: Business Fundamentals
The Business Fundamentals Compass imparts, in one day, a 360 degree awareness of the disciplines the entrepreneur must master. Delegates are challenged to apply the learning to their intended venture as the workshop unfolds.
Start by understanding and quantifying the realistic commercial opportunity arising from the technology, the importance of market led product definition and estimate the resources and timescales from today to first sales.
What you need to do to manage cash-flow. Understand your relationship with the bank and the 3 key financial documents you will need in business planning and operations. Estimate your actual funding requirements and work through a typical finding timeline. How to leverage the founding team’s personal finances and their potential personal impact.
Understand the importance of the founder’s personal qualities; their motivation, leadership, values and behaviour. How to deal with founding team dynamics and personality issues, board appointments and the choice of chairman and non-exec directors.
Finally, how to identify, appoint and work with essential professional advisers. What does it mean to become an employer – recruitment & responsibilities, staff motivation and the pros and cons of using contractors.
Start your own journey by finding out more about The Business Fundamental Compass.