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Advising Zia on How to Start a Business

The document provides guidance for Zia on starting her coffee shop business, highlighting the importance of entrepreneurship, key success factors, and qualities needed for success. It outlines project planning steps, the significance of timelines and Gantt charts, and the necessity of funding for new businesses. Additionally, it offers advice on preparing presentations and handling feedback professionally.

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Hannahjoy Vanneel
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6 views

Advising Zia on How to Start a Business

The document provides guidance for Zia on starting her coffee shop business, highlighting the importance of entrepreneurship, key success factors, and qualities needed for success. It outlines project planning steps, the significance of timelines and Gantt charts, and the necessity of funding for new businesses. Additionally, it offers advice on preparing presentations and handling feedback professionally.

Uploaded by

Hannahjoy Vanneel
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 9

Hannah

[Year]
…PHASE ONE…
Advising Zia on how to start a business.
An entrepreneur is defined as anyone who founds or organizes a business, then continues to be
an active participant in the operation of that business. In other words, an entrepreneur is anyone
who launches and continues to run their own company. An entrepreneur also refers to a person
who demonstrate the attitudes, behavior, knowledge and skills needed to start and make a
success of a business venture.
In order for Zia to have some sort of an idea of what a successful entrepreneur is I have
researched and found information about one of my favorite entrepreneur for Zia to look at.
I have researched Jeff Bezos who is an American business magnate, media proprietor, and
investor. Jeff is the founder and executive chairman of Amazon, having previously served as
chairman, president and CEO of the company. Jeff Bezos is 57 years old and has a net worth of
193,3billion USD (United States dollars) which is around 2 828 844 984 000, 00 Rand
Amazon.com Inc. is an American multinational technology company which focuses on e-
commerce, cloud computing, digital streaming, and artificial intelligence. It is one of the Big Five
companies in the U.S information technology industry, along with Google, Apple, Microsoft, and
Facebook.

I will be conducting a research on how Zia can start up her coffee shop business.

Here are a few ways how Zia can pitch a business plan to potential investors:
Tell a story: A common topic among experts was the need to be personable and create a narrative
Define the problem: you might be head over heels about your business concept, but unfortunately
if your product doesn’t solve a problem or fill a need for customer’s investors aren’t going to share
your excitement

Practice as much as you can: don’t be shy present you pitch to family members or friends or
anyone willing to listen. Practicing your presentation will make you less nervous, but will also allow
you to see where you need to improve

Be realistic: having realistic expectations will help you be more prepared

ELABORATE ON THE FIVE KEY SUCCESS FACTORS FOR AN SUCCESFUL BUSINESS


In order for Zia business to be a success or to be successful there are many key factors that Zia
should take into consideration.
Good leadership
Any business has to have good leaders, who are team players and who are able to work together
with others as a team, they listen to their fellow employees and staff members and respect each
and every one of them. Good leaders are enthusiastic and bring a good, positive energy along
with them. This spreads throughout the work place which motivates and encourages staff to
perform even more than expected.

Stable work force


Having a stable workforce means that employees are motivated, happy, and well trained. They are
loyal to the business and stay with the business for a longer period of time. They take pride in their
work they do and are extremely productive.

Sustainability
Sustainability means that a business involves steak holders in joint decision making, and learning
from customers, employees, and the surrounding community. It can also mean that the business
analyses the environmental and social impacts of the products and services the business uses
and produces. Sustainability means to not damage the environment and the community in which it
operates

Ethic/control and good governance


An unethical corrupt business is not sustainable. Staff and customers get to know the business
reputation and will not continue to support a business with poor governance

Uniqueness of the business/product/service


Uniqueness of the business/product/service means that a business offers different products and
services from their competitors. Product or service makes customers notice it and talk about it.

OUTLINE THE QUALITIES THAT ZIA SHOULD HAVE AS AN ENTREPRENUR


Creativity and innovation
Zia needs to be creative so that she can stand out from other businesses. She can start out by
generating an app for her store. During Covid times it is important for people to social distance, so
what Zia can do is design an app where people can order from her coffee shop and have an
option for their order to be delivered or for them to pick it up at her coffee shop. Zia can also have
giveaways every month where people can win maybe muffins, cakes, coffee etc.

Perseverance
Despite all the obstacles Zia’s business faces or might face in the future she will have to keep
striving and doing her best no matter how difficult things become. Zia must always remember that
Rome wasn’t built in a day and that it’s okay to make mistakes and we will just have to learn from
our mistakes.

Responsibility
Zia must be able and willing to take full responsibility for her company. She must also listen to all
feedback be it positive or negative.

Good management
Zia must practice good management skills. She is the boss and she needs to fit the role of that
and remember whatever she says is final.

Honesty and ethics


In order for any business to be successful honest is key. Remember honesty is the best policy. Zia
needs to have an open and honest relationship with her employees

DISCUSS THE PROJECT PLANNING STEPS


Step1: identify and meet with stakeholders: Identify all stakeholders and keep their interest in mind
when creating the project plan
Step2: set and prioritize goals: once you’ve listed all the stakeholders needs prioritize them and
set specific goals
Step 3: define deliverables: identify deliverables and project planning steps required to meet the
project planning goals. Determine due dates for each deliverable in your project planning
Step 4: create the project schedule: define series of tasks that must be completed to accomplish
each deliverable. For each task determine how long it will take, resources that will be needed, and
who will be responsible.
Step 5: identify issues and complete a risk assessment: conduct a risk assessment and develop a
risk management strategy to make sure you are prepared
Step 6: present the project plan to stakeholders: explain how you plan addresses stakeholders
expectations and present your solutions to any conflicts.

…PHASE TWO …

OUTLINE THE IMPORTANCE OF TIMELINES AND GANTT CHARTS/WORK BREAKDOWN


STRUCTURE (WBS)
Timelines and Gantt charts are useful for planning and scheduling projects. A Gantt chart uses
timelines to represent the completion of each task in a project. These timelines show how the
tasks relate to one another. They are important because they provide an overview of a projects
activities and progress.
Gantt charts are valuable for arranging and booking projects. They assist you with surveying what
amount of time a venture should require, decide the assets required. Gantt charts can likewise be
utilized to screen progress once it is in progress, as well.
Here is an example of a Gantt chart:

EXPLAIN THE FACTORS THAT MUST BE CONSIDERD BEFORE STARTING UP THE


BUSSINESS
Culture of the organization
It is fundamental to build up a hierarchical culture from the start staff should get comfortable with
what is right and what is not.
Environmental changes
External factors: Contemplate political, global, technological, social and ecological issues, for
example environmental change and water limitations.
Internal factors: decide the strengths and weakness of your business.
Customer service
For a business to be effective clients should be given wat they need. Many mean changing the
market plan. Organizations needs to frame a relationship with its customers.
Business growth
Decide whether the business is anticipated to develop or decrease also decide the effect on
business development.
Cost saving
There are a couple of approaches to reduce cost when starting a business like purchase utilized
equipment at second hand shops or auctions, start up your business from home and use
technology to associate with your representatives , employees, and clients, utilize free or more
affordable software.
Discuss why the business needs funding
When a business first starts profits are going to be low so business funding is needed to allow for
the cash slow to meet expenses until profits pick up.
Any business is only as good as its people, and overworked people cannot perform at the peak of
their powers. Therefore the business needs funding to pay employees a wage. Other reasons
include entering new business sectors, moving to new premises and creating and marketing new
product.

…PHASE THREE …

RECOMMEND FACTORS THAT ZIA MUST CONSIDER WHEN PREPARING A


PRESENTATION
Zia must consider the follow factors:
She should think about clear goals and central matters of the presentation she is going to be
presenting. All primary points must be caught in the initial articulation of the presentation. The
information that is being introduced should be applicable and precise. The information that is being
presented should be completely acquainted with the content of the presentation. She should also
practice to guarantee a sure presentation and powerful utilization of using time effectively.

ADVISE ZIA HOW TO HANDLE FEEDBACK AFTER A PRESENTATION IN A NON-


AGGRESSIVE AND PROFFESIONAL MANNER
Zia should be positive and passionate when she answers questions that are asked from the
audience. She should keep all her answers concise and concentrated, she should also answer
clearly. She must also acknowledge and apologize for mistakes she could have made during her
presentation if one of the audience points out the mistakes correctly. She mustn’t get angry or
irritated at the audience for pointing out her mistakes instead she should learn from them. Zia must
look at the entire audience while answering questions. When Zia’s time is up she should allow
audience to continue discussing via email or over the telephone.
CONCLUSSION
There are many different approaches to starting up a business. I have found many ways that can
be useful to Zia when turning her business plan into an action plan. Different ways she can show
her business plan to potential investors. This assessment also speaks about how Zia can prepare
for future presentation and how she can respond to question asked to her in a non-aggressive
way.

BIBLIOGRAPHY

1) https://www.investopedia.com/terms/e/entrepreneur.asp

2) https://en.wikipedia.org/wiki/Jeff_Bezos

3) https://www.startuploans.co.uk/business-advice/how-to-pitch-your-business-idea/

4) Notes gotten from miss Manaydu about entrepreneurs and success factors for a successful
business, as well as qualities of an entrepreneur

5) Zwaanswyk. 2021. Business studies grade 11 core notes. Cape Town Tokai. Page 23.
Business ventures.

6) https://www.mindtools.com/pages/article/newPPM_03.htm#:~:text=Gantt%20charts%20are
%20useful%20for,managing%20the%20dependencies%20between%20tasks.

7) Zwaanswyk. 2021. Business studies grade 11 core notes. Cape Town Tokai. Page 25.
Business ventures.

8) https://floatapp.com/blog/5-reasons-to-seek-business-funding/

9) Bean. P. 2011. Viva Afrika business studies grade 11. Cape town. Page 134-144\

CONTENTS PAGE

Phase 1:
Introduction………………..1
Elaborate on the five key success factors for a successful business………………2

Outline the qualities that Zia should have as an entrepreneur……………….3

Discuss the project planning steps………………..4

Phase 2:
Outline the importance of timelines and Gantt charts/work breakdown structure (WBD)
……………….5

Explain the factors that must be considered before starting up the business………………..5

Discuss reasons why the business needs funding………………..6

Phase 3:
Recommend factors that Zia must consider when preparing a presentation………………..7

Advise Zia how to handle feedback after a presentation I a non-aggressive and professional
manner………………..7

Conclusion………………..7

Bibliography ………………..8

Name: Hannah-joy
Van Neel
Grade:11A

SUBJECT: BUSINESS
STUDIES

TERM3 ASSESMENT
TASK

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