KUDIMATA MODULE 2
(KICKSTART MY BIZ)
SUMMARY
Nothing in the world is worth having or worth doing unless it means effort, pain, difficulty
“(Theodore Roosevelt).
Wrong Reasons To Start A Business
• Everybody Is Starting Business
• I Want to Cash Out
• Control (Work Less Hours & Spend as I Like)
3 Variables that tells me who you are:
• Self Concept : The overall view you have of yourself is informed by both Nature and Nurture
• Self-Esteem : How pleased we feel about ourselves positive of negative
• Self- Awareness and Self-Efficacy : How well you understand yourself.
“your idea is Conceived from Who you are”
Before developing a business idea, please ask yourself the question:
• What Best Identifies with Who am I?
• What am I good at?
• What do I love to do?
• What skills do i have that i can capitalize on?
• What problems do people have that i can help solve?
• What unmet needs do i see and how can i help address them
MARKET RESEARCH
Carrying out market research of the business helps you to understand the target market, develop
effective plan and strategies with other activities that will bring growth to the business.
Why Market Research?
1. There is a clear vision of opportunities
2. It helps you Understand existing Businesses
3. You are able to set realistic targets for the business
4. It helps in Identifying your customers; (B2B, B2C or Both)
5. SWOT
Market Research Checklist
Industry Research Competitors Considerations
Size of the industry Direct & Indirect competitors
Historical trends & Growth potentials Potential future competitors
Economic trends Marketing methods & Distribution channels
Professional associations &Other related SWOT
industries
Market Considerations
Distribution channels
Value proposition
SWOT
Best opportunity (B2B), (B2C) or a combination
of both?
Market trends: political, social, environmental,
seasonal, etc
BUSINESS PLAN
The business plan is telling a story with the following checklist in in Mind.
Checklist 1
• Company Introduction and Description
• Mission, vision and values
• Business name
• Business logo
• Business address
• Website
Checklist 2
• Market Analysis
• Customers & Competition
Checklist 3
• Marketing Plan
• Sales Plan
• Branding
Checklist 4
• Management and Operations
• Human Resources
• Operations
• Growth and Development
Checklist 5
• Financials (Startup cost, Cashflow Projections, Sales Estimates & Exit Strategy
You may need to answer questions like:
• How do I register my business
• What kind of business registration suits my business
• How do I protect my business image and concepts
• Do I have the necessary permits and licenses?
• Do I have the appropriate insurance coverage?
QUESTION AND ANSWER
1. One of the following is the right reason to start a business (a) everybody is starting Business
(b) I want to cash out (c) I want to solve a problem in the society (d) Control work hours &
spend as I like
2. “Nothing in the world is worth having or worth doing unless it means effort, pain, difficulty”
this statement was made by _________ (Theodore Roosevelt).
3. It’s not the strongest of the species who survives, nor the most intelligent. Rather it is the one
most adaptive to change. _______(Charles Darwin)
4. _____ which of the following is not a variable that tells who we are (a) self concept (b) self –
defence (c) self-awareness (d) self-efficiency
5. Before developing a business idea, which of these questions should you ask yourself ? (a) what
best identifies who I am (b) what am I good at (c) what skill do I have I can capitalize on (d)
All of the above
6. ____ helps you understand the target market, develop effective plan and strategies with other
activities that can bring growth to the business (Market Research)
7. One of the following is not a benefit of market research (a) clear vison (b) understand existing
business (c) realistic target (d) identifying customers (c) none of the above
8. When making a market research which of these is not considered (a) industry Research (b)
Competitors (c) market trends (d) none of the above
9. Which of the following should not be included in a business plan (a) market analysis (b)
operation (c) foreign currency (d) sales plan
10. Which of the following should be seen at the top of your business plan (a) Business name (b)
Business Logo (c) Business description (d) market analysis
11. Business setup does not require legal structure? True or False