CYPRUS – MESI COURSE (ENGLISH) - Vifin Course Creator

Planning is everything, plans are nothing!

Three phaces of developing your business

Three phases of developing your business

This model shows three phases of development. You can use it to plan the start of your company, or to develop a new product or service once you have started your company. The ”Co” in the model, means that you will do a better job of analyzing and starting your business if you include others in the process.

You and your business idea

In everything you do when developing your business, design and implement your business model there is a demand of resources. Most of the times it boils down to working hours and money to spend on different issues ie. financial resources.

Different stages of the development craves resources and developing a fundraising plan is neccessary not to loose speed when developing your business.

The fundraising plan follow the different steps developing your business. ( See section Access to market.) Doing the economics of each step will guide you to your need of resources both in time and money.

Different types of funds and financial institutes will be able to support you at different stages of your business development plan.

Design & implementation

Design & implementation of business model (see also Access to market)

An effective way to create a business model (that can easily be transformed into a written business plan), is to use the Business Model Canvas (BMC).

A business model helps you work with all aspects of your business, making sure that your idea is viable. The business model is also a good tool to have when you need financing and want to present your business idea to a bank or an investor.

Here you find a quick overview of the BMC:

https://vimeo.com/78350794

Here you find a webinar that explains the BMC in more detail:

https://vimeo.com/125360627

Funding your business idea

Your business model canvas is a perfect tool to start gathering insights and facts necessary to convince different types of investors and funds to invest in your business idea. All of them require more or less the same type of information but tweeked to their liking and request.

Using the information gathered in the BMC it is easy to build a business plan. The business plan will then be perfect to use when creating a NABC pitch, adding numbers will then finalize your investor pitch.

Thoughts and reflections

What are your thoughts and reflections on this section?
What do you need to do now?
When are you planning to do it?
Who can help you doing it?

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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 1 out of 5

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