Entrepreneurial Training Program

ETP I: Beginning Entrepreneurship - "Basic Feasibility Study"

Week 1 - "Self Evaluation of an Entrepreneur" - What does it take to be a microentrepreneur? Discuss areas clients need to improve as entrepreneur. VSEDC will seek personality profiles as follows:

Week 3 - "Sales, Supply and Venture Feasibility" - Factors in determining sales and supply. Determining venture feasibility.

"Practical Checklist for Starting a Business" - Getting permits, licenses, and meeting other city/state/federal regulations

ETP II: Advanced - Microenterprise Owners: "Business Plan Writing"

Module 1 - "Introduction of Class Contents: Purpose of writing a business plan"
The module for the Business Plan is three hours. Participants are provided business plans completed by other persons to demonstrate a funded business plan.

Module 2 - "Introduction to Market Research" - Where to find resource materials; data gathering on the Internet; how to work with demographics data.
VSEDC primarily utilizes classroom training for this module. However, participants are directed to libraries and the Internet (available at VSEDC's computer lab) to conduct research to assist in the completion of their business plan. Participants are also directed to other service providers to assist participants in the understanding of what is available. This module includes:
§ Marketing research to determine the market
§ Marketing research services
§ Economic analysis
§ Market planning
§ Marketing research services

Module 3 - "Marketing Plan": Sales planning and advertising, pricing strategy, and customer relations
Two weeks are required for the Marketing Plan Section. For these modules, field study will also be necessary. Participants are required to complete a marketing plan as part of their business plan. Marketing will cover:
§ Community selling
§ Delivery of product and service
§ Pricing
§ Customer relationships
§ Providing uniqueness to the product or service
§ Marketing terminology
§ Marketing management
§ Distribution channels
§ Sales planning and promotion
§ Advertising
§ Tradeshows marketing

Module 4 - "Marketing Plan" (cont.)

Module 5 - "Introduction to Financial Planning": Access to credit, cash flow analysis, balance statements, income statements, and income projections
Two weeks will be required for this section. Classroom training and group exercise will take place in this module. One on one technical assistance and speakers will be available during these two weeks. Topics covered will be:
§ Seed money
§ Family and friends as financial resources
§ Financing the business via equity and loans
§ Lending requirements and the various ways banks lend
§ Preparing for finance needs
§ Collateralizing the business with home/real property
§ Improving and cleaning-up credit for finance
§ Credit and how it works
§ Venture capitalists
§ Co-signing on a loan

Module 6 - "Financial Planning" (cont.)

Module 7 - "Operations and Administration Plan": How to set up an operations and administration system
Two weeks are required for this section. Classroom training and speakers are utilized for this module. Companies that market accounting systems speak to the participants about the products and services that they offer. Topics are:
§ Understanding basic bookkeeping
§ Bookkeeping and taxes
§ Bookkeeping and lending institutions
§ Bookkeeping and managing the business
§ Deciding on a CPA
§ Locating bookkeepers and CPAs

Module 8 - "Operations and Administration Plan" (cont.); Conclusion;
Graduation Ceremony
Administration - what to look for in hiring staff and in retaining other professional services. Topics covered:
§ Hiring staff and low-cost hiring programs
§ Selecting and retaining professionals, i.e. lawyers and consultants, etc.
§ Determining timing of hiring professionals

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