Business Training Wasama
Business Training Wasama
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Examples of businesses
Transportation service: A business that provides transportation
for a fee
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Consulting service: A business that provides professional services,
such as personal finance or credit management
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Lawn mowing service: A business that provides a service to mow
lawns for a fee
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Chemical plant: A business that produces chemicals
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Characteristics of businesses
Profit: Businesses aim to make a profit by increasing sales or
reducing costs
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Risk: Businesses involve risk, and there is no guarantee of success
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Regulation: Businesses must comply with the law and operate
within legal boundaries
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Organization: Businesses are the result of individuals working
together in an organized way
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Need: Businesses must satisfy a societal need
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Common business structures Sole proprietorship, Partnership,
Corporation, S corporation, and Limited liability company (LLC).
Business Definition
The simple definition of business, or business meaning, is explained as
an organization that provides goods and services to the community in
exchange for money, with the goal of becoming profitable. Businesses are
focused on producing items or services to sell, making a profit, and
meeting a particular need for society. All individuals in a business work
together toward common goals, which are dependent on the type of
business.
Characteristics
There are three key characteristics that must be met to have a business.
First, businesses must be the result of individuals working together in an
organized way. Second, businesses must satisfy a societal need. Third,
businesses must seek to make a profit.
Types of Businesses
There are many ways to organize a business, and there are various legal
and tax structures that correspond with each. Businesses are commonly
classified and generally structured as:
Business Definition
So, what is a business? At its core, a business refers to any activity or
organization that engages in the exchange of goods or services for profit.
It involves the production, buying, selling, or provision of products or
services to fulfill the needs and wants of consumers. Businesses can
operate at various scales, from small enterprises to multinational
corporations.
Importance of Business
1. Economic Growth
Businesses drive economic growth by producing goods and
services, creating employment opportunities, and contributing to
the overall GDP of a country.
4. Job Creation
Businesses are major employers, providing job opportunities to
people with various skill sets and backgrounds, thereby reducing
unemployment rates.
5. Global Trade
Businesses facilitate international trade, enabling the exchange
of goods and services across borders, fostering economic
cooperation among nations.
1. Profit Maximization
One of the primary goals of many businesses is to maximize
profits, ensuring financial sustainability and growth.
2. Market Expansion
Businesses often aim to expand their reach to new markets and
customer segments, increasing their customer base and revenue.
3. Product Diversification
To mitigate risks and tap into new opportunities, businesses may
focus on diversifying their product or service offerings.
4. Customer Satisfaction
Satisfying customers’ needs and expectations is a crucial goal for
businesses to build loyalty and maintain a positive reputation.
5. Sustainable Practices
Many modern businesses have adopted goals related to
sustainability, aiming to minimize their environmental impact and
contribute to social well-being.
Business Risks
All businesses face risks that can impact their operations and profitability.
Some common business risks include:
1. Financial Risks
Businesses may encounter financial risks such as cash flow
issues, debt burdens, or fluctuations in exchange rates.
2. Market Risks
Changes in market demand, competition, or consumer
preferences can pose risks to businesses, affecting their sales
and market share.
3. Technological Risks
Businesses that fail to adapt to technological advancements risk
becoming outdated and losing their competitive edge.
5. Operational Risks
Issues with supply chain management, production processes, or
employee performance can disrupt business operations.
2. Partnership
A business owned by two or more individuals who share the
profits, losses, and responsibilities according to a partnership
agreement.
3. Corporation
A distinct legal entity from its shareholders, a corporation
provides limited liability protection to its owners. Each
shareholder’s personal assets are protected from the debts and
liabilities of the company.
Sizes of Business
Businesses can be categorized based on their size, often determined by
factors such as revenue, assets, and the number of employees:
1. Micro Business
Typically has fewer than five employees and minimal annual
revenue.
2. Small Business
Employs a limited number of people and has moderate revenue
and assets.
3. Medium Business
Larger than a small business but not yet a large corporation, with
a notable workforce and substantial revenue.
4. Large Business
A major corporation with a significant number of employees, high
revenue, and extensive operations.
1. Market Research
Conduct thorough market research to identify target customers,
understand competitors, and assess demand for your product or
service.
2. Business Plan
To establish a strong foundation for your business, craft a
comprehensive business plan that delineates your objectives,
identifies your target market, devises effective marketing
strategies, projects your financial outcomes, and maps out
operational procedures.
3. Financing
Secure adequate funding for your business through personal
savings, loans, investors, or grants.
4. Legal Requirements
Ensure you comply with all legal requirements, such as business
licenses, permits, and registrations.
5. Marketing and Promotion
Develop effective marketing strategies to promote your business
and attract customers.
6. Customer Focus
Prioritize customer satisfaction and feedback to build a loyal
customer base.
7. Continuous Learning
Stay updated with industry trends, technology, and market
changes to adapt and evolve your business
Objective: Equip new business owners with the essential knowledge and
skills needed to launch, manage, and grow a successful business. The
training will cover business fundamentals, financial management,
marketing, customer service, and operational strategies.
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Activities:
Group discussion: Define your business idea and determine the most
suitable business model.
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Building Your Brand: Creating a brand identity (logo, color scheme, voice).
Activities:
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Point-of-Sale (POS) Systems: How to use POS systems for sales, inventory,
and reporting.
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Group activity: Identify potential risks for your business and develop a risk
management plan.
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Action Plan: Develop a simple, actionable 30-day plan for launching your
business.
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Training Materials
This training will provide new business owners with the tools and
strategies necessary to start, manage, and grow their businesses while
avoiding common pitfalls. The focus on practical applications, like
budgeting, customer service, and marketing, ensures that participants are
well-equipped to take actionable steps toward success.
Providing training for new business owners is crucial for their success.
Below are some key training areas they should receive:
4. Operations Management
6. Entrepreneurial Mindset
Risk management and decision-making skills.
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1. Executive Summary
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2. Business Description
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3. Market Analysis
Industry Overview: Insights into the industry size, growth, and trends.
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5. Products or Services
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7. Operational Plan
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8. Financial Plan
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9. Risk Analysis
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10. Appendix
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A well-prepared business plan is not only a roadmap for your business but
also a key document when seeking funding from investors or banks.
Below is a simplified sample business plan for a small coffee shop. You can
adapt it based on the type of business you're planning to start.
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1. Executive Summary
Aroma Bliss Coffee Shop will provide high-quality coffee, snacks, and a
relaxing environment in downtown Addis Ababa. Our goal is to become a
preferred local coffee shop for professionals, students, and tourists by
offering exceptional service and fostering community engagement. We
seek an initial investment of $50,000 to launch operations and expect to
achieve profitability within the first year.
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2. Business Description
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3. Market Analysis
Target Market:
Professionals aged 25–45 working in the city center.
Competitors: While there are several coffee shops, Aroma Bliss will
differentiate itself by offering locally sourced coffee, personalized service,
and a unique ambiance.
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Extras: Free Wi-Fi, quiet reading corners, and live music nights on
weekends.
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Grand Opening Event: Special discounts and live music to attract initial
customers.
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7. Operational Plan
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8. Financial Plan
Startup Costs:
Equipment: $20,000
Marketing: $2,000
Miscellaneous: $3,000
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9. Risk Analysis
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10. Appendix
Owner's resume.
This is a basic framework. For a real-world plan, you may need more
detailed financial projections and specific data about your business niche.
Let me know if you'd like help refining it!
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Cross-contamination prevention.
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This training plan can be tailored to suit specific roles (e.g., chefs, servers,
managers) or the unique requirements of the restaurant. Regular
evaluations and feedback will ensure continuous improvement.
Objective: Equip restaurant staff with the knowledge and skills to ensure
safe food handling, maintain hygiene, and comply with food safety
regulations.
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Using separate cutting boards and utensils for raw and cooked foods.
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Practice taking orders accurately through role-play.
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Session 4: Assessment and Continuous Improvement
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Objective: Equip kitchen staff with the skills and knowledge required to
efficiently manage kitchen tasks, ensure food quality, and maintain safety
and hygiene standards.
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Session 3: Understanding the Menu and Specials
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By the end of this training, participants will be equipped with the skills and
confidence to manage the front-of-house efficiently, ensuring customer
satisfaction and a seamless dining experience.
6. Restaurant Marketing and Branding (1 Day)
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Design a loyalty card or promotional flyer.
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Objective: Ensure staff understand and comply with health and safety
regulations to protect themselves and customers.
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Fire drill and practice using a fire extinguisher.
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Morning Session: Building Teamwork
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Role-play: Communicating during a high-pressure situation.
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Wrap-Up:
Summarize key takeaways from each session.
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Morning Session: Reducing Food Waste
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Quiz: Identifying energy-saving opportunities in a restaurant setting.
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Implementation Strategies
Cross-Training: Allow staff to learn skills beyond their primary roles (e.g.,
FOH staff learning basic kitchen skills).
Mentorship Programs: Pair experienced staff with new hires for hands-on
guidance.
External Courses and Certifications: Support staff in pursuing relevant
certifications (e.g., food safety, customer service).
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Tracking Development
Objective: Equip staff with the necessary knowledge and skills to provide
high-quality tea and coffee, understand customer preferences, and
enhance the overall customer experience in a tea and coffee business.
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Types of tea: Black, green, white, oolong, herbal, and specialty teas.
Activities:
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Tea leaves: How quality is affected by the origin, processing methods, and
storage.
Coffee beans: Understanding the roast levels, grinding, and brewing
techniques.
Activities:
Showcasing different types of tea leaves and coffee beans, explaining how
they influence taste.
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Tools and equipment for brewing tea: Teapots, infusers, and kettles.
Activities:
Hands-on practice brewing different types of tea with precise temperature
and timing.
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Serving etiquette: Best practices for serving tea and coffee, presentation,
and temperature control.
Pairing food with tea and coffee: Understanding which snacks or meals
complement different beverages.
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Introducing new drinks: How to test and promote new drinks to customers.
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Group activity: Designing a sample tea and coffee menu for a new
business.
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Demonstration of cleaning and maintaining coffee and tea equipment.
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Social media and digital marketing: Using Instagram, Facebook, and other
platforms to showcase products and attract customers.
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Discussing customer loyalty programs and how they can benefit the
business.
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Training Materials