Explore Micro Business Opportunities (in development)

  • Pre-accredited
  • Understand your own risk profile
  • Explore businesses you’re passionate about
  • Understand your financial situation and current resources
  • Discover and shortlist business opportunities
  • Establish resources you need
  • Review and Reduce
  • Forecasting
  • Making an offer
  • Offer and acceptance

Description

Training Course Delivery

You’ll explore different business opportunities and evaluate them according to your own criteria in this pre-accredited short online training course. You’ll explore real website for real businesses which are available for sale and evaluate if they suit your investment risk and time horizon.

Your Circumstances

  • Investigate new business opportunities
  • Search for good information sources
  • Sources of inspiration
  • Gather information about Business ideas
  • List ideas and opportunities
  • Research alternative business ideas

Opportunities and Risks

  • List products and services
  • Product / service features
  • E-commerce opportunities
  • Market needs, size and potential
  • Market growth or decline
  • Research potential customer information
  • Competitors
  • Marketing segments
  • Skills of owner / operator
  • Export markets & population changes
  • Ethical and cultural requirements
  • Risk factors
  • Trends and developments
  • Factors affecting the market
  • Technical support
  • Labour force changes

Current Capacity & Resources

  • Organisation capability
  • Business strategy
  • Financial skills
  • Digital technology skills
  • Business skills
  • Forecasting

The Career Academy pathway to Nationally accredited training

After completing the pre-accredited online short course students can either go into business for themselves or explore options to complete a nationally accredited qualification and receive a Nationally recognised certificate.

Elements and Performance Criteria

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Describe business ideas

1.1 Gather information for business ideas from appropriate sources

1.2 List details of business ideas and opportunities

1.3 Research alternative business ideas in light of available resources

1.4 Specify and list products and services to match business ideas

1.5 Identify and research potential customer information for business ideas

1.6 Identify and take into account available financial, digital technology, business and technical skills when researching business opportunities

2. Identify market needs

2.1 Collect information regarding market size and potential from appropriate sources

2.2 Investigate market trends and developments to identify market needs relative to business ideas

2.3 Gather market information from primary and secondary sources to identify possible market needs in relation to business ideas

2.4 Identify ethical and cultural requirements of the market, and their relevance for business ideas

2.5 Identify new and emerging markets and document their features

2.6 Identify and organise information on expected market growth or decline and associated risk factors

3. Investigate factors affecting the market

3.1 Identify projected changes in population, economic activity and labour force that may impact business ideas

3.2 Identify movements in prices, and projected changes in availability of resources

3.3 Review trends and developments and identify their potential impact on business ideas

These are the requirements of the BSBSMB301 – Investigate micro business opportunities accredited training package

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Published by 123 Group Pty Ltd

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