This document discusses various aspects of starting a business, including legal protections, business structure, marketing, tools/equipment, and workplace culture. It provides feedback on student business plans, noting that most addressed marketing well but some also considered business structure. It discusses sole trader, partnership and company structures and their liabilities. It emphasizes the importance of marketing that provides value for a starting business.

1. Problem 1
Feedback

2. Legal Protection
✤ Patents
✤ Copyrights
✤ Trademarks

3. Link to problem
You are a HSC student....

4. Business model
✤ Most people addressed marketing really well
✤ Some considered business structure...

5. First thing to consider...
✤ How many people in your group?
✤ Do you trust them all?
✤ If one gets in trouble, do you all get in trouble? Is this fair?

6. Options for business structure
✤ Sole trader: one person is the boss...so if no one does the work, HE is
accountable (unlimited liability)
✤ Partnership: 2-20 owners. If one person does no work, everyone gets
into trouble (unlimited shared liability)
✤ Company: Seperate legal entity from the people that are running the
business (limited liability)

7. Business Structure
✤ Heirarchical structure will not work with a small amount of people.
Therefore, it must be flattened.
✤ Even if you have one person in charge, this is still a flattened
structure.
✤

8. Marketing
✤ There were some really good marketing points raised.
✤ Some of them were:
✤ Use of social networks
✤ Use of Viral marketing
✤ Marketing to a select market (ie, schools)
✤ If you’re a starting (or young) business, it’s important to give value
to your marketing. (ie, Utility marketing)

9. Tools, equipment, plant
✤ Some groups covered these....but did not relate to the problem
statement. Ie, we’re going to mass produce (can you do this without
money?)
✤ The headphone people spoke about producing products Just In Time
(JIT) which is a good way to reduce overheads and production costs
and needed storage space, particularly for a new product where
demand is not known.
✤ If you’re a small new business, most of your production is hand
made. You wouldn’t be mass producting.

10. Workplace Culture
✤ Some groups spoke about the workplace being a “Great place to
work”.
✤ How will you do this? How do you promote workplace culture?