Starting and managing a small business is an exciting venture, but it comes with its own set of challenges, especially for aspiring entrepreneurs who may lack the necessary knowledge. This course serves as a comprehensive guide, covering every step required to successfully set up and manage a small business. From developing a robust business plan to mastering the art of Internet marketing, the course breaks down complex aspects into actionable strategies. It also addresses critical factors such as organizational structures, financing options, legal considerations, and effective cash and inventory management. The course is designed to transform the overwhelmed novice into a confident business owner, equipped with practical skills and knowledge to make informed decisions, navigate the complexities of entrepreneurship, and steer their business towards success.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Chapter 1
Recognize the advantages and requirements of different business organizations.
Identify factors to consider when buying an existing business.
Recognize methods for determining how much to pay for a business.
Identify important factors for selecting a new business location.
Recognize the key sections of a business plan and how it can be used.
Chapter 2
Identify options and strategies available for small business financing.
Identify the advantages of leasing vs. purchasing assets.
Chapter 3
Recognize methods for maximizing working capital and improving cash management.
Identify processes for inventory management and control.
Chapter 4
Recognize the elements of different business structures.
Identify items within legal contracts.
Recognize the value of patents and where to register a trademark.
Chapter 5
Recognize financial records necessary to improve internal controls.
Identify different financial ratios useful for financial analysis.
Recognize major elements in business costs.
Chapter 6
Identify elements of different taxes, including income and sales taxes.
Chapter 7
Recognize different components of marketing research.
Identify the advantages of new product introductions.
Recognize social media as it applies to marketing.
Identify key factors in creating a pricing strategy.
Chapter 8
Recognize factors to consider when selecting insurance policies.
Identify software useful for a small business.
Chapter 9
Identify the advantages of different staffing strategies.
Major Topics
Types of Businesses
Debt and Equity Financing
Managing Financial Assets
Legal Considerations
Accounting, Cost, and Financial Analysis
Individual and Partnership Income Taxes
Marketing
Operations
Managing Human Resources
