SMALL BUSINESS ENTREPRENEURSHIP - HOW TO START A SMALL BUSINESS

Course No: ECD-9201
Price: $799.00
Length: 40 hours

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General Description:

Workshop Description

This workshop is designed to help participates develop a solid business plan as a first step in helping to ensure the success of any business venture.  Participates will learn the importance of creating and using a business plan and examine the specific elements that must be included in the business plan.

Learning Outcomes

·         Understand the meaning and concept of entrepreneurship

·         Be able to develop an effective business concept that can be tested.

·         Demonstrate analytical and critical thinking skills through the process of completing a feasibility analysis for a new venture and by applying essential skills, knowledge, and applications as an entrepreneur.

·         Complete a robust business plan.

Workshop Outline

Week 1 - The Challenge of Entrepreneurship - Module One will consist of introducing and defining Entrepreneurship, by conveying a concise message of entrepreneur principles. Participants will gain insight on how to transform their passions into achievable profits. This module will also focus on one’s ability to adapt to an “Entrepreneurial mindset” and goal setting. A distinct examination of the pros and cons associated with the risk-taking factor of entrepreneurship are addressed.  Others areas discussed are explorations of business opportunities, such as starting a home-based business, buying an existing business or franchise.

Brainstorming exercises:

Part One – The E-Myth Revisited

  • The Entrepreneurial Myth
  • The Entrepreneur, The Manager and The Technician
  • Infancy, Adolescence and Maturity
  • Working on Your Business not in it
  • Strategy Objective

§  Organizational

§  Management

§  People

§  Marketing

§  Systems

Part Two The Successful Business Plan: Secrets & Strategies

Chapter 1 – The Foundation of Entrepreneurship

Chapter 2 - Inside the Entrepreneurial Mind: From Ideas to Reality

Chapter 3 - Designing a Competitive Business Model and Building a Solid Strategic Plan

 

A.      What is Entrepreneurship?

a.       Pros/Cons

B.      Self-Assessments

C.      Goal Setting

D.     Business opportunities -Ways to Start a Business.

E.      Develop business idea/concept

    1. Brainstorm exercise.

 

 

Business Plan Exercises:

  • Complete your business description/concept
  • Complete your mission statement
  • Complete your Uniqueness Statement
  • Complete your professional biography
  • Complete 3-5 Goals/Objectives

 

Week 2 - Building the Business Plan: Beginning Consideration - Module Two focuses on managerial and leadership skills. Self-assessments are administered; participants will evaluation their characteristics and personality types. Introduced to four legal structures for business formation, state and local requirements, license, permits, and zoning regulations.

 

Chapter 4 – Conducting a Feasibility Analysis and Crafting a Winning Business Plan

Chapter 5 - Forms of Business Ownership

A.     Management/Leadership skills.

1.      Similarities/differences

2.      Effective manager/leader

B.     Legal Structures 

1.      Sole Proprietor, Partnership, Limited Liability Company, Corporation

C.     State/local requirements, permits, zoning regulations, business and professional licenses

Business Plan Exercises:

  • Complete your Product and Service Description

§  Features and Benefits

§  Core Competencies

Week 3 - Building the Business Plan: Marketing  - Module Three emphasizes effective ways to market one’s business and covers market research, defining target market, competitive analysis, competitive advantage, pricing, and promotional strategies. This module will also address the importance of developing a niche market, by differentiating one’s business from its competitors. Performance of SWOT Analysis will be covered, following creations of action steps as strategies to overcome barriers and constraints. Develop a market plan and budget.

Chapter 8 – Building a Powerful Marketing Plan

 

A.     Market Plan

1.      How to market a business

2.      SWOT Analysis

3.      Market Research- Understanding your Industry, Competition, Entry Barriers, and Economical Forces

4.      Promotional/Pricing strategies

5.      Channel of Distributions

B.     Develop a Marketing Plan

C.     Create a Marketing budget

Business Plan Exercises:

  • Start the Marketing Plan section of your Business Plan
  • Complete the Industry Analysis, Target Market Analysis and Competitive Analysis section of your business plan
  • Complete the pricing section of your marketing plan

o   Complete the promotions/advertising section of your marketing plan

o   Complete the channel/distribution section of your marketing plan

Week 4 Topic - Building the Business Plan: Financial Considerations - Module Four will cover ways to finance a business. Discuss credit scores and how they affect funding options. Analyze Cash flow and financial statements. Apply methods of determining break-even points, followed by examining start-up and operating costs.  

 

Chapter 12 – Managing Cash Flow

Chapter 16 – The Financials

Chapter 19 – Looking for Money

 

Financial Plan

A.      Financial Statements (Historical/Pro Forma)

B.      Start-up Costs

C.      Break-Even Analysis

D.     Financial Analysis

Business Plan Exercises:

  •  Complete the financial projections to support the business plan

·         Balance Sheet

·         Profit and Loss Statement

·         Cash Flow Statement

·         Breakeven Analysis

Week 5 Topic - Building the Business Plan: Operating Plan - Module Five emphasizes effective ways to deliver your goods or services to your target market.  This module will help you identify the importance of a process for operating the business, what type of facilities are needed as well as what skills, tasks and resources are identified to support business growth.

Chapter 11 – Operations

Chapter 13 – Management & Organization

Business Plan Exercises:

  • Complete the Operations section of your business plan
  • Complete an organizational chart for your business
  • Create job descriptions for management and staff positions of your company

Week 6 Topic – Business Plan Presentation

 

15-Minute Power Point Presentation

 

Text(s): The Successful Business Plan by Rhonda Adams

              The E-Myth Revisited by Michael Gerber 

 

Program Benefits:

 

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