BGA recently hosted a ‘how to start your own business’ course for learners and parents. A hands-on, free of charge training course for potential new entrepreneurs aimed at teaching the steps needed to build a profitable business of your own.
On 24th and 25th October 2022, BGA hosted a two-day business course for learners and parents in Cascais. The setting was the inspiring location of Tim’s garage where you are greeted by the museum’s range of classic, sports, and vintage cars that are on show here. The course was held and presented by Andre Patricio, founder of BizLaunch; a global enterprise that travels the world teaching young entrepreneurs the basic steps of business and how to start your own.
The presentation itself was straightforward and comprehensive so that all learners found sense and logic in his approach. Aside from Andrew fully supports and promotes the concept of following your dreams and passions, and that satisfaction and happiness are vital for success – he demonstrates how to put these dreams into functional motion.
Day one covered marketing – Marketing tools, guidelines, plans, understanding your customer, psychographics, B2B, why should people buy from you?, values and benefits, trust, the key to small business success, word of mouth, 5 things to do to begin, email marketing, free marketing, how to get noticed, info for retailers, advertising, building an online community, using social media, online advertising, websites, marketing calendars, and what to put on your to-do list. Andrew took the learners on a journey from having a business idea, working out what to do with it, then all the way through to implementation by outlining the necessary steps to take. No matter the concept, these guidelines provide a comprehensive step-by-step method to building and developing your own business.
The learners were invited to participate, ask questions and talk about any business ideas they had of their own. Once the audience warmed up and began to relax, the questions started flowing and Andrew was freely handing out his invaluable knowledge and experience. He helped guide them in the right direction taking into consideration their proposals, giving them plenty of priceless advice and tips on what not do do as well as how to get started.
Tips that learners took away with them stretched from how to identify your market, how to gain investor interest, start small and grow, to hearing of success stories from unlikely candidates.
DAY ONE – SUMMARY
- Identify your ideal customer
- Differentiate your product or service
- Develop a marketing plan
- Build a plan
- Offer great service and get testimonials
- Build a database of emails
- Use free online marketing tools
- Develop educational content and share
- Never stop marketing
WHAT TO DO
- Do your research
- Identify your ideal customer
- What problem do you solve for your customers?
- Develop a simple marketing plan
The approximately 30 attendees returned for more input on the second day, and again, there was plenty of note taking, question asking and interaction throughout the presentation. Day two talked more about the money side of things – inflow and outflow, cash flow and sales forecasts, how to manage the money and be profitable, how to create a sales forecast, product pricing, profit margins, researching existing industry and interviewing entrepreneurs, and how to manage all of the above.
Andrew continued to enforce that doing that which makes you happy is a fundamental key to being successful. He believes that following your passions and investing in things you believe in will absolutely help on the path to success. He spoke warmly many times of people who had come from nothing and found success, such as some memorable clients of his…
Two sailors that worked sailing catamarans in the Caribbean dreamt of setting up their own upmarket boat rentals navigating the waters they knew so well. They managed to find an investor to help them set up their first catamaran and they now have a fleet of 52 luxury boats (each worth around €4 million!).
Andrew’s advice stems from following your passions; follow the steps he outlines, don’t throw money at stupid things, don’t go too complicated and keep it simple to start with. He would recommend borrowing €100 from your parents the first time, show them what you can do with it then people will be far more likely to invest in your ideas the next time around. Show people you can follow the right steps, create something that works and they will believe in you. Look at the WeWork founder Israeli entrepreneur Adam Neumann. His concept grew so fast, made amazing returns so rapidly and proved so successful that investors offered him millions even before they got anything down on paper.
DAY TWO – SUMMARY
- Develop a cash flow for your business.
- Improve your cash flow by taking the appropriate steps.
- Make cash flow your problem.
- Never run out of money.
- Ask your accountant for help.
WHAT TO DO
- Interview business owners in similar businesses.
- Speak to your accountant.
- Develop a sales forecast.
- Create a cash flow forecast for the next two years.
The course then covered how to price your products and services and all that must be taken into consideration when doing so; consider fixed expenses such as rent, bills, supplies, labour, fees, salaries, transport, materials, shipping costs. To make sure your price reflects your product correctly by recognising and analysing competition, costs vs profits, gross margins, etc.
- Know your monthly operating expenses.
- Know the competitor’s prices.
- Manage your gross profit margin.
- price your products and services fairly.
WHAT TO DO
- Do research on your competitors prices.
- Calculate the true cost of your products and services.
- Determine selling prices.
- Calculate your break even sales.
The three pillar approach of BGA’s education ethos includes skills – how we develop what we learn, how we behave and engage in the world, and community – team activities to develop behavioural and social skills as well as (and as important as) academics. Development of skills is an essential make up of any individual, and so BGA offers a variety of courses held by professionals in their fields, in order to inspire and provide our learners with relevant and vital information on that which they may be interested in pursuing.
This particular course was held by Andrew Patricio from BizLaunch®.
November 11, 2022 Cascais
BGA Brave Parent