CYPRUS – MESI COURSE (ENGLISH) - Vifin Course Creator

Ideas for starting an enterprise

Start an enterprise around your craft
Start an enterprise that provides services
Start an enterprise around selling products and providing value
Start an enterprise that contributes to social responsibility
Start an enterprise around information and empowerment

What is a business?

A business is an organization or entity that provides products or services for a profit. Not all businesses generate enough profit to be successful. Building a business means bringing all factors for production together, organize and assign tasks, work with other people, interact with potentials collaborators and customers, and remunerate employees or providers when the job is done.

Main business industries

There are three main types of industries:

Primary production: This involves acquiring raw materials. For example, fruits and vegetables that need to be farmed, metal that needs to be mined and other.
Secondary production: This focuses around the manufacturing and assembly process. It converts raw material to other components. For example, building houses and other.
Tertiary production: This refers to services that support the production and distribution process. For example, advertising, healthcare and other.

Shaping business idea

What resources could help you with starting a new business?

Education
Training
Workshops
Friends and family
Social media, blogs,
websites
Publications, books

Mobile applications
Governmental organisations
Other organisations
Memberships
Chamber of commerce
Physical space and location

Starting a new business

Starting a new business (cont’d)

Starting a new business (cont'd)

When thinking about the skills you have, try to draw them out from different experiences and break them down into smaller categories.

For example, if you want to own your own shop, what skills do you have that could help you create and run this business? Are you good with planning? Do you have good communication skills? Are you good with budgeting?

Developing your own business idea

Now try to respond to the question below by outlining as many ideas as you can think of:

How could my business produce income?
What functions would this business have that could produce income?
What alternatives ideas could I explore in order to support my business financially?
How would my skills contribute to the sustainability of the business?

E-mail:

Sending e-mail...

E-mail sent!

Developing your own business idea (Cont’d)

Developing your own business idea (cont’d)

Looking at the market of your product/business idea/service:

Are there any inefficiencies or problems that you are looking to address in the existing services?
If so, what are these problems?
How are you planning to enter the market with your idea?
Would your idea provide something unique that is not usually offered by other services?
If so, in what way?

E-mail:

Sending e-mail...

E-mail sent!

Developing your own business idea (Cont’d)

Developing your own business idea (cont’d)

In what new ways could you enter the market and make your idea more memorable?
What other ideas do you have?
How can you integrate new technologies to your business ideas?

E-mail:

Sending e-mail...

E-mail sent!

Developing your own business idea (Cont’d)

Developing your own business idea (cont’d)

Developing your own business idea (cont'd)

Is there something that you consider particularly challenging?
How are you planning to support your business in the long-term?
Are there any new markets that you could enter with your idea?
Try to respond to all the questions and put your answers down.

Before we move on to the next phase, we would like to ask to take some time and reflect on your responses and take some time to collect data and talk with experts or other business owners to help you prepare for the assessment phase of your idea.

E-mail:

Sending e-mail...

E-mail sent!

Section completed

Test result

Your score:

You got out of correct.

Exercise	Result	Your answer	Correct answer

Try again

Start next lesson

Kursus oversigt

Introduction to MESI platform

Introduction to modules and platform implemented

Glossary implemented

Module 1: Introduction to entrepreneurship - entrepreneurial attitudes and skills

Introduction to module implemented

Entrepreneurship implemented

Traits and attitudes of an entrepreneur implemented

Developing your own business idea implemented

Assessing your business idea implemented

Developing a Business Plan implemented

Module 1: Quiz 13 out of 14

Module 2: Legal and regulatory framework

Introduction to module implemented

1 Introduction and requirements under the residency law implemented

2 Legal structures and regulatory framework implemented

3 Formalities and public authorities implemented

4 Taxes implemented

5 Insurances implemented

6 Legal regulations & Contracts implemented

Module 2: Quiz 8 out of 9

Module 3: Strategic planning and project management

Introduction to module implemented

1 Introduction implemented

2 Strategic planning – creating vision and goals implemented

3 Strategic planning – analyzing possibilities implemented

4 Project management implemented

5 Time management implemented

Module 3: Quiz 13 out of 14

Module 4: Access to markets

Introduction to module implemented

Introduction – from idea to market implemented

Understanding your market implemented

Understanding your customers implemented

Developing your products or services implemented

Marketing and sales implemented

Module 4: Quiz 16 out of 17

Module 5: Understanding the local business culture

Introduction to module implemented

Introduction implemented

Communicating across cultures implemented

Verbal communication etiquette in business 6 out of 7

Non-verbal communication etiquette in business implemented

Active listening and empathy not started

Module 5: Quiz not started

Module 6: Funding and fundraising

Introduction to module implemented

Introduction implemented

Funding your business idea implemented

Different types of funds implemented

NABC implemented

Investor Pitch not started

Module 6: Quiz not started

For trainers / teachers

Inspirational material implemented