Business lesson 104 – How to start your own business
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Hi kids!
It is Wednesday! It is time to carry on with our lessons on the three key components or “C’s” of a business;
C – Concept
C – Clients or customer
C – Cash flow
What is the concept or the idea you have for your business? What is your business all about and what makes it unique.
Link to Lesson 101
We took a closer look at your customers or clients, in other words who is your target market, their demographics, budget group etc.
Link to Lesson 102
Homework well done!
It is clear that you guys will be able to choose those perfect names for your businesses.
Let's take a short review of those names;
| Business name | Nature of Business | Good or bad and reason |
|---|---|---|
| Exploration Kids | Teaching children to read | Not a good name. Kids will not even be able to pronounce the name |
| Acorn Crafts | Craft shop | Not a good name. A shop just for acorn craft? |
| Aims | Digital creating services | The start of a great name! You can add to it "Aims digital" |
| Beet Box Café | Take-away | Not a good name for a take-away |
| Blue Kite Web Solutions | Website designers | Great name! |
For Lesson 104 we are still staying with our "C" for clients or customers. We will be looking at the fun part of any business, how you will market your business and how you will generate sales.
We all have a clear goal for our businesses, we want to make money and it doesn’t matter if it is by selling a product or by offering a service.
How are we going to do this?
By having clear marketing and sales strategies. Without these two strategies you will not be successful in your business.
Of importance is that you know the difference between the two strategies.
Marketing – is the way in which you attract potential clients or customers to your business. In other words how you will be advertising your product or service.
Sales strategy – is the way in which you convert these clients or customers into real clients or customers so that you can make money.
For today's lesson we will be watching a short video which explains exact the differences between marketing and sales.
Go get some popcorn and enjoy!
Homework:
Your school/university is having a market day and you want to participate by having a stall selling goods or offering a service.
Based on our previous lessons and this week’s lesson I want you to tell me the following;
• What is the concept of your stall?
• What is the name of your stall?
• How will you market it?
• What is your sales strategy?
For example:
My concept: Selling popcorn 🍿
The name of my stall: Just pop in!
My marketing strategy: Putting up posters at school/varsity and creating a funky WhatsApp message
My sales strategy: Customers can draw pictures or write messages for their best friend or loved one on the paper bag before I fill them with popcorn.
How to do your homework:
You can either post your answers at the bottom of this post or you can write a separate post for it. Just remember, 300 words and use the correct tags like.
See you all next Wednesday!
@ibtisamwaqas @binwaqas @kishwarsumbal @bossj23 @madilyn02 @leyxi209 @geoscary21 @chukwu10 @dorismos @favour11 @princeifeko @yeri52 @katherine012 @fortwis09 @chimeroselam @ghani12 @wizzyboy3 @deben @tarazona14 @jlvillamizar @joymm @david-o @jueco @elyayo
10% to Steemkidss
Thank you for yet another exciting lesson. We are increasing in our knowledge day by day, courtesy of you dearest @patjewell
I should change it from business Wednesday to exciting Wednesday as I get just as exciting to share😊
Thank you for your kind words. As you know, I love this community and the kids. ❤️
The kids and the community love you so much too. We are glad to have you as or grand patron
Wonderful tutorial from you dear @patjewell! We appreciate all you do for steemkids community
My praises goes to the kids of this community. The ones who will carry the Steemit name with proud in years to come. They are doing so well and we can all be proud of them! 👏🏻👏🏻
This is really amazing ma'am. God will surely bless you for the impact you are making.
The pleasure is mine! As long as there is someone who can learn and become a successful entrepreneur I will be more than happy 😊
Exactly ma'am. God will reward you
Thank you for contributing to #LearnWithSteem theme. This post has been upvoted by @maazmoid123 using @steemcurator09 account. We encourage you to keep publishing quality and original content in the Steemit ecosystem to earn support for your content.
Regards,
Team #Sevengers
Awh thank you! It is appreciated and so rewarding to receive your support!
Congratulations on being a winner in Week 4 of the Steemit Engagement Challenge.
Thank you but I think you are in the wrong.
I was a co-winner for week 3 and I already received my upvote 😊
You won again. This is for week 4.
Oh my word! In that case I'm not giving back the vote. (•ิ‿•ิ)
Thank you!!! What a gift to get first thing in the morning!
Yes sir, she is the best in Steemit platform.
She is best of the motivator to other Steemian.
Awh thank you for your kind words! 🌼
I just do what I like to do, serving others.
Hopefully they will play it forward.
Another interesting lesson on business, i hope the kids keep learning this effectively as it contains alot of thick information which is relevant for this 21 century generation.
I truly hope so my friend.
If one of them can become a true entrepreneur I will be so happy! Let's keep on enriching the children of Steemit!
Hopefully a good number will become One of Such.
Que lecciones interesantes es usted muy buena explicando gracias por compartir su experiencia y conocimientos con nosotros saludos.
The pleasure is all mine! I hope the kids enjoy it and learn from it. (•ิ‿•ิ)
Incredible work my friend. Good luck to you and all your students. 💜🌠
The kids are so close to my heart and they are doing so well. I’m extremely proud of them. 👏🏻
Thank you for reading and engaging with my post🌼