This unit provides students with a practical understanding of what is required to successfully launch a new venture. It gives students an opportunity to work within a small team to fully plan the launch of a specific new venture idea. They will learn about and work through the stages of planning to launch the venture culminating in a group presentation of a launch plan. This will include an explanation of the idea, how it will attract customers and have competitive advantage. Students will develop a promotional plan to get it started, preparing a budget for launch and a cash flow forecast for the first 12–18 months of operation for the chosen venture.
Students will learn about the need for resourcefulness when starting a new venture, and will be able to identify and tap into personal networks which can offer a valuable source of knowledge, resources, advice and opportunities.
By the end of this unit a student will be able to: