A lot of businesses start as small and medium, and then grow to medium and large, respectively. Small businesses face a lot of challenges that prevent them from taking advantage of environmental opportunities to scale and grow. Little wonder, virtually four out of every five new businesses die within the first five years of existence. How can you manage your business and make it one of those that not only survive, but grow sustainably? This course will introduce and espouse the issues that confront small businesses and how to overcome them. At the end of the course, participants would have learnt the techniques of effectively managing their businesses for liquidity, profitability and sustainability.
DURATION – 2/3 DAYS
WHO SHOULD ATTEND
- Owners of small and medium enterprises
- Managers and decision makers of small and medium firms/enterprises
- Persons who are just about to start a business
OBJECTIVES
- To understand drivers of business growth and sustainability
- To learn the tips and techniques of improved customer relationships, marketing strategies and sales
- To deepen participants’ knowledge of how to manage employees for retention and higher productivity
- To learn how to prepare effective business planning
- To help in finding solutions to most challenging and pressing problems in the business right now.
CONTENT
- Business psychology and formation
a. The objectives of the firm
b. Understanding business formation
c. Important rules and regulations for starting and running a business in Nigeria
d. Business opportunities and drivers of success in business
e. Why small businesses fail. - Understanding operational and business planning
a. Business cover story/the end in mind
b. Basics of budgeting and operational planning
c. A view of the medium term/business planning
d. Cash planning and management. - Managing assets and liabilities for business growth
a. What is the level of your financial literacy?
b. Understanding assets and liabilities – cash, inventories, receivables, payables,
etc.
c. Understanding financial information
d. Managing banking relationship.
e. Sources of finance for businesses in Nigeria. - Managing human and life assets/resources
a. Human resources principle and philosophy
b. Strategies for recruiting the best in the market
c. Human resource policy
d. Performance and career management techniques
e. Compensation structure. - Marketing and sales management
a. Differentiating and collaborating sales and marketing
b. What is your product? In which industry are you? Who is your customer?
c. Sales strategies
d. Marketing strategies. - Business Ethics.
- Personal effectiveness and life management techniques
a. Sources of success and happiness
b. Keys to effectiveness
c. Time management matrix
d. Self development techniques. - Business clinic and counselling sessions
a. One hour session will be allocated every day for one-on-one counselling
sessions for those who signify their interest for the session when they register for
this programme.