Small Business Accelerator Program (SBAP)
Business Development Outline
KICKOFF/OPENING RECEPTION (September 24, 2015)
Welcome and introduction of supportive leaders, organizations, Roundtable member organizations, etc. Explanation of company mission, vision, goals and objectives. Distribution of materials, literature and registration materials.
SESSION 1 – MANAGING AND PLANNING FOR YOUR BUSINESS (September 29, 2015)
Evaluation and developing an actual plan for your business. For existing businesses, this would be a plan for growth. Learning how to perform critical analysis of personal capabilities, the best business practices, establishing core Mission, Objectives, Goals. Strategic Planning, developing an action plan for successfully growing your business, turning a passion into a profitable enterprise. How to avoid common mistakes, creating a winning team.
Additional Topics – Business Plan, Competitive Advantages
SESSION 2 – PERSONAL AND FINANCIAL READINESS (October 6, 2015)
Explanation of the financial commitment required for being a business owner, identification of the critical personal documents needed, preparatory materials, impact of credit worthiness, how to know you are ready to establish or expand your business, how to develop a budget, identification of the minimum funds needed for startup or expansion, short-term and long-term funding needs, how to prepare financial.
Additional Topics – Credit scores, Financial Literacy
Session Partners: The Columbia Bank
SESSION 3 – KEYS TO SUCCESSFUL OPERATIONS (October 13, 2015)
Understanding business reporting and financial statements, knowing how to track, manage and limit costs while simultaneously growing the business. Using balance sheets, income statements, cash-flow statements to see how business is operating and how to project future operations of the business. How to maintain and keep business records. Compliance with federal and state employment law. Selecting an accountant, legal counsel and banker.
Additional Topics – Bonding, Insurance
SESSION 4 – ACCESS CAPITAL (October 20, 2015)
Explaining how the ability to be successful is highly dependent upon access to adequate funding. Acquisition of materials, ongoing operating expenses, etc. requires either a personal investment, financing or a combination of both. It is essential to have mastered several earlier session content to have higher probability of success in accessing funding. Various types of financing will be covered and opportunities to have funding sources present their requirements and loan product information.
Additional Topics – Crowdfunding, Traditional Lending, SBA Loans
Session Partners: The Columbia Bank, SBA
SESSION 5 – MARKETING RESEARCH (October 27, 2015)
Market research is a way of getting an overview of consumers’ wants, needs and beliefs. It can also involve discovering how they act. Attendees will learn how to market, who are their competitors, developing an effective marketing plan that fits their business. Participants will learn the two types of market research – primary (quantitative and qualitative) and secondary research. The program will also explore ways in which to obtain information and understanding how trends affect the upward and downward movement in a market.
Additional Topics – Market Segmentation
SESSION 6 – MARKETING STRATEGIES (November 3, 2015)
How to become a self-promoter of your business, developing an “Elevator Speech”, utilizing and developing a social media strategy and associated strategies. Sub topics include Converting web traffic into leads and sales. High impact email marketing. Traditional marketing i.e. print/media vs. online content marketing.
Additional Topics – Google AdWords, Google Analytics, SEO, Customer Service via Social Media
Session Partners: Google
SESSION 7 – BUILDING A NETWORK (November 10, 2015)
Once a business is established is the only the beginning. Business owners need a reliable network of resources including other business associates, peers with knowledge and expertise, potential customers and clients, contracting opportunities, friends and others who know you are in business, etc. Many opportunities for success are initiated from active management of who you know, where to expand personal networks and how to relate personal networks to
business opportunities. Associations with other business owners often lead to mutually beneficial outcomes.
Additional Topics – Teaming & Partnering, Business Associations
SESSION 8 – HUMAN CAPITAL MANAGEMENT (November 17, 2015)
Every organization invests its money and resources to train new employees. Employees in turn work hard, upgrade their existing knowledge and contribute in their own way to increase the productivity of their organization. Human Capital Management is defined as the process of acquiring, training, managing, retaining employees for them to contribute effectively in the processes of the organization. Employees play a crucial role in increasing the productivity
and output of an organization. One of the most important decision a business owner will make is hiring employees. This session will explore hiring and firing, compensation metrics, evaluations, employees vs. contractors, and accountability.
SMALL BUSINESS FAIR (TBD)
Final event for all participants. This event will allow all participants to showcase their business and receive real-time feedback from lenders, community and business leaders. We will also use this time to acknowledge all participants for their involvement.
Cost: $50/session or $200 for the entire series.
Location: Columbia Bank, 7168 Columbia Gateway Drive, Columbia, MD 21046
CURRENT AND FUTURE PROGRAMS