#1 - Basic Concepts and Data Collection
Discover start-up fundamentals for small business success
We start the process of putting together a Feasibility Plan, which will help determine if your business idea makes sense. It covers the business idea or concept, the need met by the product or service, industry profile, competition, and target markets. You will learn about selecting a name, business structure, hiring/managing employees, and determining how and where your business will operate. You will be introduced to business plan software, and provided with a workbook to help you use it.
At this session, you will be assigned a SCORE mentor who will be your contact point throughout the Workshop series.
# 2 - Marketing Strategies
Learn successful ways to market your product or service
The Marketing segment is designed to help you learn how to properly position your product or service and to maximize its appeal to the market you intend to serve. It will deal with identifying the features and benefits of your product or service, adapting them to their most appropriate markets using the 4 Ps, advertising, promotion strategies and tactics, and co-marketing and relationship building to maximize the effect of your efforts within a budget.
#3 - Financial Forecasting
Determine if your business will make money
In the first part of this session, you learn how to build a financial model of your business. This involves estimating start-up costs, forecasting sales units and prices, and estimating fixed and variable operating costs to make a cash flow and income projection for your business. You will also determine breakeven points and investigate the impact of pricing decisions on your venture's profitability.
In the second part of the session, we will help you understand accounting principles, general business records, taxes, management accounting (income statement, balance sheet, and cash flow).
#4 - Financing Options
Reach a Go or No-Go Decision
You will learn financial statement analysis, accounting & bookkeeping systems, the “six C’s of credit,” banking relations, and sources of capital (traditional and non-traditional). We will also conduct a round-table panel discussion with successful entrepreneurs and SCORE experts to answer your questions. Finally, we will discuss how to use your business plan, either to secure financing, or as a guide to help you make decisions as you grow your business.