It's about people and progress, not politics and power.

How to Start and Mind Your Own Business

COURSE DESCRIPTION

Great supervisors and/or managers make things happen. They lead, motivate, coach, counsel, plan, implement and guide. They get things done. When a person becomes an entrepreneur with hopes of becoming "big business," that individual must wear many hats. That person must not only be able to "run the ship," but must also be able to get things done through other people. That person must be able to juggle home, career, and family responsibilities, while "growing" a business and also dealing with personal needs. This individual may have been a very good manager or supervisor while working for someone else; however, when "you are it, the chief cook and bottle washer" different skills are needed. This one-day seminar is for novices who are just starting in business or potential business owners who have thought about becoming an entrepreneur but have not yet taken that leap.

OBJECTIVES

You will learn what it takes to believe in yourself and to reach your dreams, despite the everyday
challenges of running your own business. Barbara will share her inspirational life story with you and explain how she went from welfare to running a multi-million-dollar enterprise. You will learn how to build your confidence, push through barriers and pursue your personal and professional dreams. Individuals who are in business, contemplating starting a business, novices and the seasoned entrepreneur are urged to attend this seminar. In this seminar you will be exposed to the following:

  • How to write a business plan
  • The process of assessing their strengths and weaknesses
  • How to determine the best business structure for yourself
  • What goes into a marketing plan
  • How to identify marketing opportunities
  • How to identify techniques to get things done through other people
  • What goes into a loan package
  • Learn what banks are looking for in a loan package
  • Understanding the certification process, its advantages and disadvantages

CURRICULUM

I. SELF ASSESSMENT

A. When assessing yourself to determine if working solo is for you, this seminar will require you to focus on the following questions:

  1. Are you a self-starter
  2. How well do you get along with people?
  3. Can you lead others
  4. Can you take responsibility
  5. How good of an organizer are you?
  6. Can you work without supervision?
  7. Are you a self-disciplinarian?
  8. Can you make decisions?
  9. How good is your word?
  10. Are you persistent?
  11. Can you stick with it during tough times?
  12. How good is your health?
  13. Can people trust what you say?

II. BUSINESS PLAN DEVELOPMENT

  1. Steps in developing a business plan
  2. Contents of a business plan
  3. Business plan format
    -- Finding a niche: deciding what do you want to do
    -- Identifying your product or service
    -- Acquiring adequate business insurance

III. BUSINESS STRUCTURE

  1. Sole Proprietor
  2. Partnership
  3. Corporation
  4. L.L.C.
  5. For Profit
  6. 501 (c)3 Nonprofit
  7. Franchising

IV. BUSINESS ADVISORS

  1. Attorney
  2. CPA
  3. Insurance agent
  4. Principals in company

V. LOCATION

  1. Home-based business
  2. Home office
  3. Rent, lease, or purchase a building

VI. SOURCES OF FUNDING AND CAPITAL

  1. RFP
  2. RFQ
  3. SBIR
  4. IFQ
  5. How to write a grant
  6. Proposal writing

VII. MARKETING

  1. Developing a Marketing Plan
  2. Learning where and how to advertise
  3. Finding Opportunities to grow your business
    -- Private Sector contracting Opportunities
    -- Public Sector Contracting Opportunities
    -- Government Grants
    -- The Certification Process
    -- The Small Business Innovative Research Program (SBIR)
    -- Solicited Proposals
    -- Unsolicited Proposals
    -- Request for Proposals (RFP)
    -- Invitation for Quotation (IFQ)
    -- Joint Ventures
    -- Prime Contracting
    -- Subcontracting
    -- Procurement Automated Source Systems (PASS)

VIII. THE CERTIFICATION PROCESS

  1. 8(a)
  2. MBE C. WBE
  3. Counties’ certification process
  4. MDOT
  5. State
  6. City
  7. Federal

IX. THE 5 C’s OF CREDIT

  1. Character
  2. Capacity
  3. Collateral
  4. Capital
  5. Condition

X. RECORD KEEPING

  1. Accounting and bookkeeping
  2. Basic accounting records
  3. Non-financial records
  4. Office systems
  5. Confidentiality adherence
  6. What records you will need to keep and how good records benefit your business.

XI. SOURCES OF INFORMATION AND ASSISTANCE

  1. MSBDFA
  2. SBA
  3. SBDC
  4. SCORE
  5. MBDC
  6. WBI

XII. FINANCING

  1. How to put together a loan package
  2. What banks look for in a loan package.

XIII. LICENSING REQUIREMENTS

  1. Consult your state’s local, state and federal regulations, according to the regulations of the state in which you conduct your business.