The Business Idea

1. KK1 - sources of business opportunity

1.1. inventing new products

1.2. adding value to existing products

1.3. brainstorming and ideas

2. KK2 - personal motivation to starting a business

2.1. escaping the grind

2.2. taking advantage of special skills

2.3. supplementing income

2.4. strong drive to achieve personal/ financial success $$$$

3. KK3 - the importance of goal setting in business

3.1. priorities

3.2. success

3.3. relevance

3.4. focus

4. KK4 - the characteristics of successful business managers and business entrepreneurs

4.1. team building

4.2. responsibility

4.3. financial knowledge

4.4. lead by example

4.5. commitment

4.6. confidence

5. KK5 - the importance of business concept development

5.1. clear understanding

5.2. written reference

5.3. basic information

5.4. gives an advatange

5.5. building blocks

6. KK6 - the relationship between business opportunities and business concept development

6.1. viability

6.2. is there a need

6.3. research

6.4. ideas

6.5. safety

6.6. risk

7. KK7 - market research and initial feasibility studies

7.1. demand and supply

7.2. feasibility analysis

7.3. understand the market

7.4. economics

7.5. competition

8. KK8 - the contribution that businesses make to the economic and social wellbeing of a nation

8.1. jobs

8.2. services to consumers

8.3. provides income for the country

8.4. creates competition

8.5. supports community groups

9. KK9 - the methods by which a culture of business innovation and entrepreneurship may be fostered in a nation

9.1. research

9.2. development

9.3. government support

9.4. tax offsets

9.5. support

9.6. grants and tax incentives