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Entreprenurial Skill Training
CADCB offers an 18-week long Start Your Business course for residents of Bethlehem seeking the know-how to own and operate their own businesses. Basic business topics are introduced and include: why you need a business plan; legal considerations; record keeping; understanding insurance coverage; developing a marketing plan; understanding financial statements; obtaining financing; spreadsheet analysis; borrowing and saving; and more. Guest experts from the local business community assist in presenting and strengthening course material. Individualized assistance is provided, and students are guided through the process of developing a business plan.
Business Technical Assistance
Prospective and existing business owners are provided technical assistance to develop their skills as business owners. An array of help is available, including: assessing competition; developing marketing strategy; refining sales techniques and production cycles; creating cash flow projections; researching funding opportunities; enhancing computer skills; assessing community resources; and understanding and managing risks.
Start-Your-Business Curriculum
Community Action Development Corporation of
Classes are located at:
Northampton Community College Fowler Center
511 East 3rd Street
Bethlehem, PA 18015
Room # 150
Class Schedule Dates:
Classes are scheduled every Thursday evening from 6:30pm to 8:30pm for an 18 week period
SPRING 2010
Week 1
February 4, 2010
GETTING READY TO START A BUSINESS
CADCB Staff
Objectives: Understand the Course Curriculum and Expectations
Assess personal strengths and weaknesses
Determine personal and business aptitude
Obtain a copy of their Credit Bureau Report
The staff will present an overview of the Start-Your-Business Program and review the requirements for graduation. Participants will take a close look at themselves as owners, producers, decision-makers, managers, and financial controllers of their businesses. They will address their strengths and weaknesses as business owners. Participants will ask themselves if they have the time and energy to make their business a success. They will address their main reasons for wanting to go into business and enumerate the skills they bring to the effort.
Week 2
February 11, 2010
WHAT IS A BUSINESS PLAN AND WHY YOU NEED ONE
Bill Dean, Business Development Coordinator, CADCB
Objectives: Describe products or services
Develop
Assess Business Idea: Research the concept
The Mission Statement of the business will be discussed. Participants will be asked to look at the long-range vision of how they would like their business to look and shape this vision into a mission statement. The class will be given an overview of the tools and techniques used to assess the feasibility of their business ideas.
Week 3
February 18, 2010
INDUSTRY RESEARCH
CADCB Staff
Objectives: Develop a list of internet resources particular to chosen industry
The participants will be helped in the computer lab to find websites that will give them an awareness of industry trends and access to industry descriptions. In this way, they can evaluate their readiness to enter the industry through their business venture.
Week 4
February 25, 2010
THERE IS A LEGAL ASPECT TO EVERY CONSIDERATION
Bernard M. Lesavoy, Esquire
Lesavoy Butz & Seitz, LLC
Objectives: Build an Understanding of General Provisions, Advantages and
Disadvantages of Legal Entities
Receive an Overview of Registrations, Licenses, Permits,
Fictitious Names
Participants will be given a more extensive view of the general provisions of various business entities. This overview will cover the formation and termination of these organizations as well as reporting requirements and tax filings. The class will also be introduced to liability issues and coverage. Employee, real estate and proper collection procedures will also be reviewed.
* Due Date: TO BE DETERMINED new due date will be updated soon
MISSION STATEMENTS AND INDUSTRY DESCRIPTIONS
(Submit either by email or by hard copy)
Week 5
March 4, 2010
RECORD KEEPING IS YOUR LIFELINE
Bill Dean, Business Development Coordinator, CADCB
Objectives: Appreciate the need to keep accurate records of transactions
Understand the importance of keeping personal and business
monies and transactions separate
The participants will be advised as to the numbers and details that must be systematically collected and recorded with respect to their business transactions. They will be advised of the necessity of having professional accounting help to develop a “paper trail” and honesty in reporting financial results.
Week 6
March 11, 2010
UNDERSTANDING INSURANCE COVERAGE
Mr. David Dyson, Hampson Mower Kreitz Agency
Objectives: Understand the types of insurances available and needed to examine
what can go wrong and how to protect their investment as well as
their personal assets
Participants will be guided through the process of determining risk and actions that can be taken to minimize those risks by protecting oneself and their business.
*Due Date: TO BE DETERMINED new due date will be updated soon
BUSINESS DESCRIPTIONS (submit either by email or by hard copy)
Week 7
March 18, 2010
MARKETING RESEARCH
Eugenio Orona, Marketing Coordinator, CADCB
Objectives: Develop the ability to research and identify target customers
Define and differentiate their product or service
Distinguish between selling and marketing
The process of target marketing and demographic research will be explained. Students will be given the assignment of surveying their target markets. Each student will be required to do an industry analysis that covers: ease of entry, level of competition, availability of substitutes and client leverage.
Week 8
March 25, 2010
DEVELOPING THE MARKETING PLAN
Eugenio Orona, Marketing Coordinator, CADCB
Bill Dean, Business Development Coordinator, CADCB
Objectives: Understand the Four P’s of marketing (Product, Pricing, Promotion
and Placement) and their interconnection
The students will develop a competitive analysis of their competitors by assessing their strengths and weaknesses. They will then use their own competitive advantages or strengths to develop their individual marketing plans.
Week 9
April 1, 2010
UNDERSTANDING THE GROUND RULES
Bill Dean, Business Development Coordinator, CADCB
Objectives: Understand how the intersection of supply and demand curves
determine price
Dissect the effects of changes in the supply of money and
Participants will be shown that an understanding of the forces at work in the market will give them a step up in the making of their decisions with respect to their particular businesses. The market environment will cause much of that which will affect their businesses.
Week 10
April 8, 2010
ASSETS, LIABILITIES, AND EQUITIES VS. REVENUES AND EXPENSES
Bill Dean, Business Development Coordinator, CADCB
Objectives: Develop the ability to construct a personal and detailed balance
sheet
Understand the underlying equation for worth and how it is
affected
Participants will be shown first how to complete a personal financial statement and then be asked to complete a monthly personal budget. The resulting understanding will be enlarged to include a business equation.
Week 11
April 15, 2010
AN INTRODUCTION TO FINANCIAL STATEMENTS
Bill Dean, Business Development Coordinator, CADCB
Objectives: Understand the interconnection of profit/loss statements, and
balance sheets and be able to dissect the components of these
financial statements as well as show the interaction of the line
items
Participants will be shown where to place their collected “research” numbers into their spreadsheet program. Sales, labor costs, operating expenses and material costs will be entered and results of operation (profit/loss & positive/negative cash flow) will be projected.
Week 12
April 22, 2010
PRICING AND BREAK EVEN ANALYSIS
Bill Dean, Business Development Coordinator, CADCB
Objectives: Participants will be able to create “what if” scenarios that stress
Students will be given impromptu and substantial changes in the competitive environment, including raw material costs, and they will be asked to modify their pricing to accommodate the changes.
* Due Date: TO BE DETERMINED new due date will be updated soon
MARKETING PLAN (submit either by email or by hard copy)
Week 13
April 29, 2010
SPREADSHEET ANALYSIS
Bill Dean, Business Development Coordinator, CADCB
Javier Inga, Business Outreach Coordinator, CADCB
Objectives: Students will recognize the Profit/ Loss line items and their location
on the class Excel spreadsheet and effect changes in cash by
maximizing revenues and minimizing expenses
Students will be given the opportunity to create their own company with their own projected revenues and expenses and manipulate the data to test profitability and cash flow in a group laboratory environment.
Week 14
May 6, 2010
OBTAINING FINANCING
Bill Dean, Business Development Coordinator, CADCB
Objectives: Understand the terms and types of commercial financing as well
Participants will be able to read and interpret their personal credit
bureau report through Credit Xpert
Students will be advised of the important issues for lenders when it comes to considering extending credit and how they can best prepare for the submission of a loan application.
Week 15
May 13, 2010
BORROWING & SAVING
Bill Dean, Business Development Coordinator, CADCB
Susan Zlotnick, Community Action Financial Services
Chris Hudock, Rising Tide Loan Fund
Howard Lieberman, City of
Objectives: Understand how to finance and save for their business ventures
Community Action Financial Services will present information on family savings plan for home ownership or business ownership. The Rising Tide Community Loan Fund will present its program for lending to small businesses. The City’s Office of Economic Development will present its program of City of
*Due Date: TO BE DETERMINED new due date will be updated soon
FINANCIAL PROJECTIONS (Submit either by email or by hard copy)
Week 16
May 20, 2010
HOW AND WHERE TO HOUSE YOUR BUSINESS
John Lezoche, Zoning Officer, City of
Lawrence (Larry) Sheridan, Commercial Real Estate Broker
Objectives: Understand zoning and permitted uses throughout
Know what to look for in a lease agreement
Learn how to concentrate as much of their time and energy as
possible on high payoff tasks
The participants will be guided through the considerations as to where and how they will locate their businesses. Once an area is determined to be suitable they must decide to purchase or lease and understand the ramifications of each.
Not only must we have a professional appearance but our timeliness and punctuality must also attest to that professionalism. We learn to invest time not to spend time when it comes to running our businesses.
Week 17
WRITING WORKSHOP
CADCB Staff
Objectives: Receive feedback from peers on the development of their business
plans
The participants will have an opportunity to present their business plan narratives to their fellow classmates and discuss their individual assumptions thereby getting group feedback.
Week 18
BUSINESS PLAN PRESENTATIONS
Bill Dean, Business Development Coordinator, CADCB
Objectives: Have an opportunity to evaluate the course
Learn from hearing the experiences of a panel of former students
and current business owners
The formal class meetings are brought to a close with the awarding of completion certificates and the continual technical assistance services of the Community Action Development Corporation of