Place and location?

Fisch

How much time? Start part time and aim for full time

Will you have another job? At the beginning yes, then no

What would you like it to be like – what are your aspirations? Medical herbalist

Lesson 2 Activity
Please read the business plan example provided (the Prince’s Trust Full Business Plan in PDF and
word downloadable documents) before starting this activity. This activity comprises of three activities
which feed into your final assessment. You do not need to submit your work but do save your work
somewhere safe.
In Lesson 5 we will look in more detail at the online fees calculator mentioned in the video, and we
shall also return to the financial summary and full business plan. Whilst building the Summary of
your business plan you will need to build an overview of the type of business and aims you have; this
will start to form your Executive Summary and is a statement of what you want to achieve.
Keep it brief and focused on specifics (one or two paragraphs for each heading).

Task 1
Please complete parts 1 and 2 (your Business Summary and Business Aims) of the Executive
Summary given below.

Executive Summary
1. Business Summary:

The Princes Trust describes this as: explain your business idea – what you are going to sell, where
and to whom. Explain your business name and why you chose it. Describe what type of business you
have chosen to be – sole trader, limited company or partnership. Please note: If you don’t know
your business structure, don’t worry, there will be much more detail on this in lesson 5.
Explain why you have chosen that structure. There will be more information in later units as to the
difference in types of company & the regulation etc that is associated with them. For your plan,
expand on any component parts to your business. Will you just be a practitioner or are there other
strands to your business?

2. Business aims:
To help you to complete part 2: List 3 to 5 goals that you want to achieve through your business. For
example, you might want to be a community herbalist in your local area, or you may wish to build a
global empire selling herbal supplies. You might want to work in a more environmentally friendly and
ethical way. Perhaps you want to spend more time with your family and friends. Divide your aims
into short (1 yr), mid (3 yr) and long (5yr+).

Task 2
If you have read or are following the Prince’s Trust plan, you will see that the summary includes a
financial view. This will be built in more detail in the next lesson. For now, if you have any specific
thoughts that are relevant, please note them, otherwise we will pick them up in the next
lesson activity. I would like you to consider some important background information about yourself
and your experience.

3. Why you want to run your own business:

Consider the following: Why have you decided to start your own business? Why is it the right choice
for you and why are you determined to make it a success? Why do you think you have the skills,
knowledge and experience to make it work?

4. Previous work experience:

Describe any experience you have in the activity of your business or in running another business.
For example, if you have worked in the field or if you have helped your family to run a business.

5. Qualifications and education:

Explain any qualifications you have which you think will help you to run your business.

6. Training:

Describe any training courses you have been on which will help you to run your business. These
might be business skills courses or courses to develop related skills. Give details of any training you
plan to do in the future.

Task 3
The 3rdpart of this activity is to think about your service and or product. Are you going to sell any
products to your patients and customers? What should your patients or customers expect from you?
Please answer the following questions:

7. What are you going to sell?

8. Is your business going to sell a product, a service or both?

9. Describe the basic product/ service you are going to sell e.g. Practice, or Practice
and dispensary.
10. If you are going to be a practitioner, then are you going to specialise in a particular
discipline or aspect of health?

11. Describe the different types of product/service you are going to be selling.

For example, are you thinking of seeing patients and charging for that appointment and any
prescription. You might offer an all in one package of initial consultation, 6 weeks medicine and a
follow-up. As you go through these Business Skills Lessons you may change your ideas. Are you
going to see patients, prescribe and send them away with their prescription or will you perhaps
consult, write up a treatment plan & send prescription later?

12. Is your plan based on stages?

You might set up as a practitioner first and then have a plan to set up a second clinic or a partner
business. You maybe transitioning from a full-time job to part-time herbalist, to full time practitioner.
Outline any plans in this section and the timescales you would like to achieve those changes