Coaching sessions 2 & 3: Research viability and business planning

Every year, nearly one million people in the UK start their own business. Could you be next? These four coaching sessions will guide you through the fundamentals of starting a business. Working with a small group and supported by a SFEDI accredited business coach, you'll have the opportunity to develop your ideas and explore your business ambitions in a collaborative and supportive environment. By the end of these four coaching sessions, you will have the tools to research and design your business plan and explore its financial viability. Come ready to contribute, share experiences and engage with others in a welcoming space designed to support your entrepreneurial journey! We recommend attending these sessions in order. These are sessions 2 and 3 of 4, click here to see the full collection. (Session 2 & 3 are run together) Session 2 - Research viability: Before starting a business, you need to research whether your idea is viable. Doing thorough research beforehand will save you time and money down the line and help you build a business plan based on accurate data. This interactive coaching session will cover how to analyse the viability of your business using desk and field research techniques, including some established business frameworks and explain how the Business & IP Centre can help you with your research . Topics covered: • Choosing the right legal structure • Calculating start-up costs • Identifying and understanding your target customers • Identifying and comparing your competitors • SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) • Developing and testing your minimum viable proposition By the end of the coaching session, you will have: • Actionable next steps to help move your business idea forward with confidence • Practical tools to carry out your business research, including how to make the most of the Business & IP Centre. Session 3 - Business planning: Turning an idea into a successful business requires careful planning. A clear business plan can help you make informed decisions, define your goals, understand your market, identify potential challenges and focus on the actions needed to get your business off the ground. In this interactive coaching session, you'll learn the essentials of business planning and gain tools to help shape your idea into a viable business. Whether you're exploring a new opportunity or preparing to launch, this session will help you move forward with greater confidence and clarity. Topics covered: • Two popular approaches to business planning: Business Model Canvas and a standard business plan template By the end of the coaching session, you will know how to: • Build a strong business plan • Assess your opportunity and market • Take the next steps towards starting and growing your business