One of the most important first steps toward establishing a new business is to understand the environment in which it will operate. Researching the market for your idea will help you to work out if your idea could succeed.
This course covers the skills and knowledge required to consider the major elements of a business idea, undertake research to determine the viability of the business opportunity and present the idea with reference to the legislative frameworks affecting the business.
It's designed for individuals who are establishing or operating a business for self-employment.
Course Content
This course is structured into three modules:
- Identify potential opportunities for business
- Investigate market needs and factors affecting market
- Finalise investigation into business opportunities
Learning Outcomes
This course is designed to help you explore new business ideas and research whether there is a demand for the business services/products together with highlighting market opportunities.
Identify potential opportunities for business
- Source and analyse market information for potential opportunities
- Analyse information and list details of business ideas and opportunities
- Identify products and services that match business ideas
- Identify and analyse available business, financial, digital technology and technical factors related to the potential opportunities
- Identify customers for the products or services
Investigate market needs and factors affecting market
- Collect, investigate and analyse business and market information, trends and developments to identify market needs related to business opportunities
- Identify ethical and cultural requirements of the market
- External factors that may impact business opportunities
- Review identified needs and factors and identify their potential impact
- Investigate marketing and promotion activities and strategies for identified products/services
Finalise investigation into business opportunities
- Review personal factors against business opportunities and identify their impact on opportunities
- Examine options to address and minimise negative impact and strengthen the positive impact of personal factors
- Document outcomes of investigation into the business opportunity
Entry Requirement
There are no formal educational entry requirements for this course.
To support a successful learning experience students will need minimum technology requirements including access to a device (desktop/mobile/tablet), reliable internet connection, and use of a personal email account.
Course Delivery and Support
This course is delivered online via MiTraining's Learning Management System (LMS) which includes:
- Course content and reading materials
- Activities
- Supplementary learning materials
Course Duration
You have a full three months access to the learning resources to complete this course.
Course FAQs
The course fee is a one-off upfront payment. If you require an invoice prior to payment please email enquiries@mitraining.edu.au or call 1300 549 190.
