Sister School Resource Booklet

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SISTER SCHOOL RESOURCE BOOKLET
This booklet is intended for use in the Global Sisters Sister School. You will get to
use the resources in this booklet throughout your time in Sister School. But, we
also want you to be able to refer back to these resources as your business or
idea grows, changes, adapts and flourishes. This is your time to shine – make it
count!

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Session 1
Reflection: Write down any thoughts you had on this session &
anything you would like to remember for the future.
What did you learn that you did not know before?
What did this session reinforce that you already knew?
How would you like to apply the things you have now learned?
Other notes

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Product Based
Business
A product is an 'item' or 'thing' that is produced by 'effort', manufactured or
refined to satisfy customers that is offered for sale (Delivers a product in
exchange for money). A Product based business delivers a ‘product’ in
exchange for money.
Customer would say “What can you make me?”
Examples of product based businesses include: (1) A retail based business
that sells merchandise; (2) Manufacturing based businesses where raw
materials are bought, made into products and sold as finished goods.
Service Based
Business
A service based business provides work performed in an ‘expert manner’ for
the benefit of the customer. In other words, a business that delivers a
promised activity within a given timeframe.
Customer would say “What can you do for me?”
Examples of service Based businesses include: book keeping and
accountancy, cleaning, landscaping, taxi and ride sharing services, teaching,
child care operators, massage, Gardening etc.
Importer and
Supplier
Focussed
Business
An Import business is one that brings products into Australia from overseas,
to sell.
A supplier focused business brings products to retailers at a wholesale price
(sometimes on behalf of a manufacturer).
Customer would say “When will you deliver the shipment / next order?”
A Social
Enterprise
Social enterprises trade to tackle social problems, improve communities,
people’s life chances, or the environment. They make the majority of income
from selling goods and services in the open market, but they reinvest their
profits back into the business or the local community. And so when they
profit, society profits.
Customer would say “How does my purchasing your products or services help
solve this social or environmental problem?”
Self
Employment
Self Employed implies working for oneself as the owner of a business rather
than for an owner and as an employee.
A self-employed individual earns an income through conducting profi8table
operations from a trade or business that they have.
PURPOSE
VISION
AND
FOCUS

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Start Up A Start Up is an entrepreneurial venture typically describing newly emerged
business. The key attribute of a start-up is its ability to grow, often grow
quickly.
Entrepreneur A person who sets up a business or businesses, taking on financial risks in the
hope of profit
My Why The 'story' behind your business idea, that connects your passion, your skills
and experience, the need for your business, perhaps an opportunity you
could not ignore, and the reason for going after self – employment
Marketplace
Tradition,
online or e-
Marketplace
A market place is the arena or place of commerce dealings and economic
activity. An online marketplace is an e-commerce website where the
products or services are provided by multiple third parties, with the
transactions being processed by the marketplace operator

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Session 2
Activity: Create your customer persona

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Customer
Customer
Segment
Target
Customer or
Segment
Customer - A person who purchases goods and services for
personal use, not resale or commercial purposes.
Segment - A group of customers that share preferences,
behaviours or characteristics. For example, a customer segment
might be girls aged under 18 who live in Sydney and use public
transport.
Target Customer or Segment - A person or group of consumers
that your business has decided to aim its marketing and efforts
towards - who are most likely to buy your product or service.
Market
Research
Researching what our customers like, feel, need, dislike, are
annoyed by etc... Market research aims to learn as much as
possible about our potential customers so we can design
amazing products and services that delight them!
For example, we could conduct a market research study to ask
our future customers what kind of jewellery they would like to
wear for a night out and how much they would typically spend.
Assumptions A thing that we automatically think is fact or accept as true or as
certain to happen, without proof.
For example, I may assume that all girls like wearing pink (but I
will almost certainly be wrong).
Focus Group A group of people that come together to participate in a
guided discussion about a particular product, service, challenge
or issue, to talk and give ideas, share experiences and provide
feedback.
Preference Something that is liked more than another thing. For example, I
have a preference for chocolate milkshakes compared to
vanilla.
A self-employed individual earns an income through conducting
profi8table operations from a trade or business that they have.
Consolidating
Research
After you have collected as much information about existing
and potential customers, tested your 'hypothesis' and
'assumptions' and made observations about customer's
behaviour, preferences and purchasing habits – it is important to
make a profile or 'persona'.
MARKET
TEST IDEA

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Persona Splits customers into groups with similar needs and wants, then
seeks to describe and present a 'fictional' character that can
help build a shared understanding of real customer’s likes &
dislikes, goals, purchasing habits & capabilities, demographic
profile, geographic context & lifestyle challenges.
Market
Research Apps
Survey Monkey - a powerful tool for creating in-depth surveys
that will help you to understand the market an consumer
preferences
Typeform - shows viewers one field at a time, using multi choice
image options, is an easy to use mobile-optimised form builder
that’s great for product feedback
MakeMyPersona - web tool that generates buyer personas for
you once you answer a series of questions about your ideal
customer
Social Mention - A real time social media search engine that can
help you understand what prospective customers are saying in
social posts that contain keywords or hashtags
QuickTap Survey - Create beautiful surveys and forms in minutes
to capture data on tablet or mobile, makes data collation easy,
can even import surveys from Survey Monkey.

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Session 3
Diagram: My Get Started Plan

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Income Streams Worksheet
Complete this worksheet for your business.
1. Brainstorm on all the possible types/ categories of income.
2. Rate the likelihood of these income streams, from low to high. Which
ones are the “low hanging fruit” that have a high likelihood and can
start bringing income in quickly? Rank these as highest priority
3. Estimate or set targets for the % of income from each source. Which
ones will take time to develop? Put these ones in Year 2 or 3.
4. Review and ensure that all the funding sources fit with your vision and
values.
Examples

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My WHY The 'story' behind your business idea, that connects your passion,
your skills and experience, the need for your business, perhaps an
opportunity you could not ignore, and the reason for going after
self - employment.
Business
Purpose
Your business purpose is the driving force behind you getting up
every day and is how you will make a difference in the world,
generate an income, and contribute to your sense of fulfilment.
Businesses with a strong sense of purpose are typically more
successful.
Vision & Focus The ability to see, think about or plan forward into the future with
imagination, perception, inspiration or innovation or wisdom.
Vision serves as a clear guide for choosing current and future
'next steps' or 'actions'.
Positive Impact The positive in a situation, experience, event or person improves
the quality of life of another and leaves them better off in some
way, than they were before.
URL – Uniform
Resource
Locator
A URL is used to locate someone or something on the internet -
an internet address that is used to get to a website homepage.
(A Domain Name is part of the URL - and more than one Domain
Names can be mapped to a URL)
ABN An Australian business number or ABN is a unique 11 digit number
that identifies your business or organisation to the government
and community.
What you need to know about an ABN:
Not everyone needs an ABN and not everyone is entitled to one,
but if you’re starting up or running a business you will need to
register for one.
Registration is free through the Australian Business Register (ABR).
https://register.business.gov.au/registration/type
TFN A tax file number (TFN) is a unique identifier issued by the
Australian Taxation Office (ATO) to each taxpaying entity — an
individual, company, superannuation fund, partnership, or trust.
GET SET
UP

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What you need to know about TFN:
Not all individuals have a TFN, and a business has both a TFN and
an Australian Business Number (ABN).
GST GST is short for goods and services tax. That is exactly what it is, a
tax on goods and services. It is described as a broad-based
consumption tax as it applies to all sorts of goods and services
that are consumed by the general public.
What you need to know about GST:
- only certain businesses are required to register for GST, which is
currently those with a GST turnover (i.e. revenue) of greater than
$75,000 per annum;
- you do NOT charge GST on your invoices unless you have
registered for GST;
- if you are registered for GST then you must complete a quarterly
Business Activity Statement (BAS) after the end of each quarter,
lodge it with the ATO and remit your GST collections to the ATO
(you don’t get to keep them).
Centrelink
Working
Credits
When your total income is less than $48 per fortnight, and you
are on any Centrelink payments, you automatically build up
working credits (no need to apply or fill out forms). One working
credit equals one dollar. You can collect up to 1000 credits, and
for every credit you have you can earn one extra dollar before
your Centrelink payment is reduced.
You can build up a total of 3,500 Working Credits if you’re
getting Youth Allowance as a job seeker.
For example:
If you have 450 working credits, you can earn an extra $450
before your Centrelink payment is affected.
If you are on a payment (such as Newstart) that is usually
cancelled as soon as you start full-time work or earning (self-
employment) you use up your working credits before it is
cancelled.
This means you could get some or all of your Centrelink payment,
in addition to your pay, when you first start working and earning.
Working Credit also let you keep your concession cards and
other benefits for a period of time after you start working or
earning. Even after you have used up all your working credits
and receive no payments from Centrelink, you may be able to
keep your concession card and some other benefits for up to 12
weeks. If you are a single, principal carer of dependent child/ren
you may be entitled to a Health Care Card for a further period of
up to 26 weeks.
Working Credit makes it easier to get back onto payment if your
job or other income source ends in less than 12 weeks.

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If your job ends, your wage or income from earning drops within
12 weeks, and you have continued to report your fortnightly
earnings to Centrelink, you can get straight back onto payment
without having to fill out an application or attend an interview.
New Enterprise
Incentive
Scheme (NEIS)
NEIS provides accredited training, business mentoring and
support to help individuals start their own business.
NEIS provides people with:
• accredited small business training
• mentoring and support in the first year of their new
business
• income support (NEIS Allowance) for up to 39 weeks (if
eligible) and
• NEIS Rental Assistance for up to 26 weeks (if eligible).
For more information:
https://www.business.gov.au/assistance/new-enterprise-
incentive-scheme
ASIC Australian Securities and Investments Commission provides
information on registering your business, deciding on a business
structure, and other related resources.
For more information:
http://asic.gov.au/for-business/

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Session 4
Can you answer…
Describe your brand in 10 words?
What do you want people to feel like when they use your brand?
What do you want people to feel when they see your brand?

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Brand A brand is the set of expectations, memories, stories and
relationships that, taken together, account for a consumer’s
decision to choose one product or service over another.
Brand Identity The elements of a brand that you can see (visible) such as
colours, design, logotype, name, symbols. The brand identity
distinguishes the brand in the consumers mind.
Brand Values These are the guiding principles that dictate the behaviour and
actions of a business or persons within the business.
Brand Loyalty The tendency of some consumers to continue buying the same
brand of goods rather than competing brands.
Brand Promise A strong brand promise is one that connects your purpose, your
positioning, your strategy, your people and your customer
experience.
It enables you to deliver your brand in a way that connects
emotionally with your customers and differentiates your brand.
Business Name You will need to register a business name if you carry on business
within Australia and are not trading under your own name.
Exceptions to this include:
• if you are operating as an individual and your operating
name is the same as your first name and surname
• if you are in a partnership and your operating name is the
same as all the partners' names
• if you are an already registered Australian company and
your operating name is the same as your company's
name.
Brand
Recognition
The Extent to which a consumer can correctly identify a
particular product or service just by viewing the product or
service's logo, tag line, packaging or advertising campaign.
Consistency Establishing brand consistency throughout your company is
about more than just setting the standards.
Keeping your brand consistent, means you must uniformly brand
yourself to your current prospects and existing customers. Brand
inconsistency can have a significant impact your brand
recognition.
CREATE
MY
BRAND

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Customer
Experience
The customer experience is the total impression a customer has
and experiences with a business or company.
The Customer Experience is the interaction between an
organization and a customer over the duration of their
relationship.
Logo a graphic representation or symbol of a company name,
trademark, abbreviation, etc., often uniquely designed for ready
recognition.
Slogan and
Hash Tags
a short and striking or memorable phrase used in advertising.
Storytelling Storytelling is one of the most powerful ways to breathe life into
your brand and often called one of the main components of a
content marketing approach. ...
A brand is a matter of perception. When you tell a story that
embodies human challenges, you create an experience that
resonates with your customers.
Unique Selling
Point (USP)
Is the thing that differentiates a business from its competitors –
makes it stand out!

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Session 5
How do you feel about managing money in your business after
this session?

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Step 1 – FIXED COSTS
How much will it cost to run my business whether or not I have any sales? You
can answer this question by determining your fixed costs.
Step 2 – VARIABLE COSTS
How much will it cost me to produce my product or service? You can answer
this question by determining your variable costs.
Step 3 – MARK-UP
What should be my mark-up? How much above the cost can I price my product
or service? What prices are my competitors offering? Can I offer advantages that
would allow me to charge higher? Can I offer a lower price to attract more business
but still make a profit?
Some considerations:
Advantage: More products or services than competition.
Price: ________________
Advantage: Finer or better quality than the competition.
Price: ________________
FIXED COSTS $ (PER MONTH)
RENT
UTILITIES
PHONE
LOAN PAYMENT
INSURANCE
ADVERTISING
LEGAL ACCOUNTING
SALARIES
TOTAL
VARIABLE COSTS $
MATERIAL COST
LABOUR COST
COMMISSION
PACKAGING/SHIPPING/DELIVERY
TOTAL

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Advantage: Exclusive – I’m the only one that sells this product.
Price: ________________
Advantage: Better terms and conditions offered to retailers or customers than
is offered by competition to their retailers or customers.
Price: ________________
Step 4 – BREAK EVEN ANALYSIS
A. Determining break-even in terms of dollars
Price of
product/service
- Variable cost = Gross profit
- =
Gross Profit ÷ Price of
product/service
= Gross profit Margin
÷ =
Total fixed costs ÷ Gross profit margin = Dollar sales needed
each month to
break even
÷ =
Dollar sales needed each month to break even:______________
B. Determining break-even in terms of number of items
Price of
product/service
- Variable cost = Gross profit
- =
Fixed costs ÷ Gross profit = Numbers of
products/services
needed to break even
÷ =
Numbers of products/services needed to break even:______________

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Cash Flow
- Inflow/
intake
- Outflow/
expenses/
spend
- Timing
Cash Flow involves
Money inflow (from customers, investors, wholesalers - in the form
of receipts) an money outflow (to suppliers, lenders, taxes,
expenses, to pay staff or contractors - in the form of payments)
Managing Cash Flow involves mapping and planning the way
money flows into and out of the business, in order to have the
right amount of cash available at the right time.
Debt
Management
Money coming in from people who owe you money - we call
them debtors
Credit
Management
How you sequence the payments you need to make to others,
such as suppliers, sub-contractors - we call these people your
'creditors'.
Operational
Costs
All expenses related to the operation of your business, which
could include things like:
Raw Materials
Travel Expenses
Loan Repayments
Your Wage
Other salary or sub -contractor invoices
Other expenses
Fixed Costs The running costs that the do not fluctuate from month to month
Examples include: rent or lease payments, phone, loan
repayments, salaries
Income
Statement
A financial statement that shows sales, cost of sales, gross
margin, operating expenses, and profit or losses.
Gross margin = sales - cost of sales
Profit (or loss = gross margin – operating expenses and taxes
The result is profit if it’s positive, Loss if it is negative
And break even if the result is the same.
Budget An estimate of income and expenditure for a set period of time.
Invoicing Accounts Payable (AP) are the bills to be paid as part of the
normal course of the business. This is a standard accounting term
MANAGE
CASH
FLOW

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which normally appears in the Balance sheet of any business.
Until that invoice is paid, it is recorded as part of ‘accounts
payable’
Accounts Receivable (AR) are the debts owed to your business,
usually from sales or credit. Accounts receivable is the sum of
money (a business asset) owed to you by customers who have
not paid you yet.
The standard procedure in business – to – business is that when a
service is delivered, it comes with an invoice to be paid later.
Pricing or
Revenue
Model
A description of how a business will earn income, produce profits
and generate a higher than average return on investment.
It identifies which revenue source to pursue, what value to offer,
how to price the value, and who pays for the value.
It is a key component of a company's business model.
Risk The term business risk refers to the possibility of inadequate profits
or even losses due to uncertainties e.g. changes in tastes,
preferences of consumers, strikes, increased competition,
change in government policy, obsolescence etc .
Every business organization contains various risk elements while
doing the business. Business risks implies uncertainty in profits or
danger of loss and the events that could pose a risk due to some
unforeseen events in future, which causes business to fail.
The Business risk is classified into different 5 main types[7]
1. Strategic Risk: They are the risks associated with the
operations of that particular industry. These kinds of risks
arise from
-Business Environment: Buyers and sellers interacting to
buy and sell goods and services, changes in supply and
demand, competitive structures and introduction of new
technologies
- Transaction: Assets relocation of mergers and
acquisitions, spin-offs, alliances and joint ventures
-Investor Relations: Strategy for communicating with
individuals who have invested in the business.
2. Financial Risk: These are the risks associated with the
financial structure and transactions of the particular
industry.
3. Operational Risk: These are the risks associated with the
operational and administrative procedures of the
particular industry.
4. Compliance Risk (Legal Risk): These are risks associated
with the need to comply with the rules and regulations of
the government.
5. Other risks: There would be different risks like natural
disaster (floods) and others depend upon the nature and
scale of the industry

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Session 6
Reflection:
Write down any thoughts you had on this session & anything you
would like to remember for the future.

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The ‘A’ Team Accountant - financial statements, balance sheets, cash flow,
analysis of business profitability and growth, handle the tax return
and PAYG
Book Keeper - invoicing, receipts, data entry, at times some of
the role of an accountant
Chief Financial Officer - financial advisor, deal maker, intentional
growth and revenue modelling
Assistant - administration, chasing up suppliers or customers,
doing research
Mentor or Coach - share experience and provide rich insights
Financial Investor or backer
Marketing & Sales 'Guru' +
Photographer
Human Resources - Looks at what staff are needed to run your
business? Employees? Casual or Freelancers?
Operations Manager - oversees business processes and getting
the job done in the most efficient way
Researcher & Developer - developing your product or service
offering, product testing and enhancement and so on
Legal Advisor
Other
Networks NETWORKING is the single most powerful marketing tactic to
accelerate and sustain success for any Small business
Here are a few reasons why business networking is so important:
- Generate Referrals and New Business
- Opportunity to Get Professional Advice
- Excellent Source for Marketing Your Goods and Services
Do not underestimate the power of local networking and attend
networking events and meet ups around you.
WHO
DOES
WHAT?

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Knowing the local community has great advantage and you
never know where the next big chance or inspiration will come
from.
Networking comes easier to some people than others, but the
good news is business networking skills can be learnt and
improved on.
Have you tried to connect at your Local Chamber of Commerce
yet?
Negotiation Negotiation may often be described as an art form, but for small
business owners, it's an essential skill that could make or break a
company.
The best negotiation is one where both parties walk away feeling
like they were heard and received a good outcome.
Pro Bono Work Professional work undertaken voluntarily and without payment.
Unlike traditional volunteerism, it is service that uses the specific
skills of professionals to provide services to those who are unable
to afford them.
To ‘Hustle’ Anything you need to do to make money while keeping the
costs low or getting stuff for free... If you are making money, you
hustling.

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Session 7
Diagram: The Goal of Marketing
Reflection: Write down any thoughts you
had on this session & anything you would
like to remember for the future.
What did you learn that you did not know
before?
Other notes

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Conversion Rate The percentage of potential or interested customers who go on
to purchase your goods or services
An example could be the percentage of visitors to your
webpage who then go on to order a product or book a service
online.
Elevator Pitch An elevator pitch is a brief, persuasive speech that you use to
spark interest in what your organization does.
You can also use them to create interest in a project, idea, or
product – or in yourself.
A good elevator pitch should last no longer than a
short elevator ride of 20 to 30 seconds.
Marketing Plan Marketing planning helps you develop products and services in
your business that meet the needs of your target market. Good
marketing helps your customers understand why your product
or service is better than, or different from, the competition.
A good marketing plan can help you reach your target
audience, boost your customer base, and ultimately, increase
your bottom line. It's often required when seeking funding and
helps you set clear, realistic and measurable objectives for your
business.
Social Media Social media includes websites and applications that enable
users to create and share content or to participate in social
networking.
Social Media
Profiles
Social profiles are a description of
individuals' social characteristics that identify them on social
media sites such as LinkedIn, Twitter and Facebook.
Target
Marketing
Where a business identifies its key target customer segments,
and creates a different strategy for interacting and reaching
each segment (based on key characteristics of each in the
channels used to reach and the way the content is provided).
An example could be understanding that a children’s
entertainment company effectively engage parents through
face book groups and local community events, but reach
GET THE
WORD
OUT!

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educational service providers through teacher forums on linked
in and professional development expos.
User Generated
Content
Short for user-generated content, UGC is the term used to
describe any form of content such as video, blogs, discussion
form posts, digital images, audio files, and other forms of media
that was created by consumers or end-users of an online system
or service and is publically available to others consumers and
end-users.

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Session 8
Pitch Template
Use the following pages to help plot out what your pitch template might look
like, and what information you might want to include in your pitch.

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Pitch Prompts
My name is….. and I come from ….
I am the CEO/ Founder of …..
I am just starting my business/I am already running a business/ I am at the ____ stage
of business development. I am experienced and know a lot about this business
because I ….
(Your why) I really want to do this because….
The problem I am solving for customers is….
I understand there are other businesses that I am competing against like… but my
business is different because….
The customer segments that I am going to target in my business are….
I have already market tested my idea by….
The following people/ resources are on my Business A-Team….
In 3 months I will…. In one year I will…and in three years I will….
To make money in my business I will….
To help me achieve this I will need help to….. I invite you to get involved by…(the
ask).

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Business
Plan
Business
Model
The written document that tells the entrepreneurs story by
describing the purpose, motivation, reason and future of the
venture. Business Plans should detail
- Business Overview
- USP & Target Customers
- Competitive Landscape (Market Potential)
- Operations (Key Activities and Resources)
- Human Resourcing (The A Team)
- Marketing Strategy
- Detailed Financial Model (Costs, Pricing, Revenue Model)
- Timeline
-
Business
Overview
Short summary statement that includes the Why, what and how
your business will generate revenue and growth projections
Competitive
Landscape
Assessing the strengths and weaknesses of competitors (Business as
usual competitors, potential substitution or alternative product or
services customers could turn to, and potential emerging disruptions
(such as uber was for the taxi industry or Air BnB for hotels)
Business
Pitch
A short amount of time to tell your business story, sell the product or
service, answer questions, and overall make an impact to a panel
(usually of business investors, mentors or coaches) that they hope
will support them in taking the next step toward a thriving business.
A great pitch can bring valuable partnerships to the table --
partnerships that come with even more valuable financial
incentives.
Human
Resources
The personnel of a business or organization – in other words the
‘people’ who use their skills and abilities to fulfil all the tasks and
activities required to make the business operate.
Market
Potential
Market potential is the entire size of the market for a product at a
specific time.
Market potential analysis utilizes demographic, lifestyle clustering
and customer segmentation and other data to determine
the market potential
The total market potential calculation of the greatest amount of
potential sales of a particular product in that product industry in a
specific time period. The total market potential is calculated by
multiplying the number of buyers in the market by the quantity
BUILD MY
BUSINESS
PLAN

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purchased by the average buyer, by the price of one unit of the
product.
For example, if there are one million potential buyers of a particular
product in the market and the average buyer buys four units each
year at a price of one dollar per unit, the total market potential for
that product for the year is one million times four, times one, or four
million.
Total market potential may be stated in dollars or units.
Target
Market /
Customers
Customer - A person who purchases goods and services for
personal use, not resale or commercial purposes.
Segment - A group of customers that share preferences, behaviours
or characteristics. For example, a customer segment might be girls
aged under 18 who live in Sydney and use public transport.
Target Customer or Segment: A person or group of consumers that
your business has decided to aim its marketing and efforts towards -
who are most likely to buy your product or service.
The ASK The "Ask" mean what are you looking for - a reason of
your pitch (Financial Investment, Assistance, etc.) Usually you place
it at the end of your presentation.
Turnover
(Projected /
Annual)
Business turnover is a numeric value representing total sales.
It is essentially the value of sales you make in a set period.
It is generally measured over a year's period, whether that's the
calendar year, tax year or fiscal year.
Business turnover is one of many ways to analyse the quality and
efficiency of a business, and provides a nice retrospective look at
the revenue for a specific time period.
Turnover is another term used for what is more commonly known as
gross income or total income received.
USP or
Unique
Selling Point
A unique selling proposition (USP, also seen as unique selling point)
is a factor that differentiates a product from its competitors, such as
the lowest cost, the highest quality or the first-ever product of its
kind.
A USP could be thought of as “what you have that competitors
don't.”

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Session 9
Other notes

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Action Plan
or Roadmap
An action plan is a document that lists what steps must be taken in
order to achieve a specific goal.
The purpose of an action plan is to clarify what resources are
required to reach the goal, formulate a timeline for when specific
tasks need to be completed and determine what resources are
required.
Business Life
Cycle
From the moment you make the decision to set up a business,
you’re in the “business lifecycle.” This will see you journey from
interest, to idea phase, to early stage start up, start up, phase,
marginal trading, through to growth phases.
Business
Plan
A written document that describes how a business is going to
achieve its’ goals, and it includes how the business will make
money, market the business and operate.
Business
Strategy
The means by which a business sets out to achieve its goals and
objectives.
Elevator
Pitch
A short, ‘to the point’ and persuasive summary of your company,
what you offer, and why the person listening should care.
Goals Every small business owner, regardless of where they are in
the business life cycle, needs goals to keep them moving forward,
get motivated to do more, and maintain the success of their
businesses.
Small-business owners must set goals to operate and grow a
successful business, despite the products or services they offer.
Business owners must set both short-term and long-term goals that
include everything from funding and income to expanding
the business and reaching customers.
Lead Time Lead time is the time between the start and completion of a
decision or other
Milestones Business milestones are like checkpoints for entrepreneurs, signalling
how the business venture is growing and if it is thriving. Milestones
are the events that occur on the way toward achieving the desired
end results of business goals.
GOALS,
AMBITIONS
AND NEXT
STEPS

39 | P a g e
…
Where did you start Sister School and where are you now? (mark
on the diagram)
Where would you like to be in
Where would you like to be in
What are the things that might block you in achieving your goals?
What do you plan to do to overcome that?

40 | P a g e
The Pitch Feedback Sheet
Name:
Business Idea:
Stage of Business:
Introduced themselves
Clearly summarized
the business idea
Connected their passion to
the business idea
Presented the competitor
landscape
Identified at least one (1) target
customer segment
Described how they would or
have market tested their
business idea
Described what phase of
business
the idea was up to
Outlined expertise and
capability
& Business A Team
Key Activities & Milestones
Costs & Revenue Model
Explained
Made an ‘ASK’

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