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Formalizing your Side Venture

 

Overview
You’ve decided to supplement your full-time income with a side venture or a passion project. Whether you were testing the market or simply needed extra income, you may have found that your side venture is consuming much of your spare time and starting to impact your full-time job and family life. So, what’s the next step? This workshop will guide you through a readiness assessment process to determine if you are prepared to formalize your side venture into a full-time business.

Who is this workshop for?
This workshop is designed for individuals who currently operate a side venture and are considering transitioning it into a full-time business. It is ideal for those who have experienced growth in their side projects and are ready to take the plunge into entrepreneurship but need guidance on how to do so effectively.

Benefits

  • Clarity and Direction: Participants will gain a clearer understanding of what it takes to transform a side venture into a full-time business.
  • Practical Tools: Attendees will receive valuable resources and templates to aid in business planning and compliance.
  • Networking Opportunities: Connect with like-minded individuals who are on a similar journey, fostering potential collaborations and support networks.
  • Expert Guidance: Access insights and advice from experienced entrepreneurs and business professionals who understand the challenges and rewards of formalizing a side venture.

Workshop Content
Participants will gain insights into:

  • The basic requirements of starting a business, including necessary registrations and compliance obligations.
  • Preparing a business plan that outlines vision, mission, objectives, and financial projections.
  • Identifying your target market and understanding customer needs to create a competitive edge.
  • Strategies for managing your time effectively to balance your side venture with existing commitments.
  • Implementing the J Rule to see if you are ready for the transition.


Methodology
The workshop follows an interactive teaching and learning approach, allowing participants to engage directly with facilitators and gain practical insights. Activities will include group discussions, case studies, and hands-on exercises to solidify learning.

Duration
7 hours