The Central Connecticut Chambers of Commerce and the Northwest Connecticut SCORE Chapter in partnership with Canon are hosting a workshop series titled Simple Steps for Starting Your Business.
This is a 5 part series of workshops designed to give small business owners the tools, information and advice needed to succeed in today’s economy. Attendees will learn the essentials of starting a business, including action steps to follow and one-on-one guidance. Sessions will be held at the Chamber of Commerce, 200 Main Street, Bristol from 5:30 p.m. to 7:00 p.m. on the following Wednesdays: January 18th, 25th, February 1st, 8th, and 15th.
“This series will help entrepreneurs understand the crucial components of starting a business,” says Northwest Connecticut SCORE Chapter Chair Dennis Noel. “Our goal is to help our community grow. Helping small business owners test their ideas and complete some initial planning for their start-up is essential to achieving success.”
Each session will focus on a different aspect of starting a small business and will be led by a local Chamber member with the experience and expertise to guide the group.
Session 1: Start-up Basics – January 18, 2017
This introductory workshop focuses on the basics of testing your business idea and identifying the key factors that influence start-up success. Start-up Basics provides you with an overview of the skills and tools you need when deciding to start a business. In this session, you learn about: the advantages and disadvantages of owning a business, the most profitable form for your business, and the fundamentals of formation, organization, marketing, cash flow and funding sources.
Session 2: Business Concept – January 25, 2017
The second workshop focuses on your business concept and step-by-step guidance in researching your idea, your market, and your competition. At the end of the Business Concept workshop, you are able to: identify your target markets, describe your products and services, and collect key competitive information to support your feasibility plan.
Session 3: Marketing Plan – February 1, 2017
The third workshop provides you with an introduction to marketing communication methods and tools to maximize your customer reach. The discussion in the Marketing Plan workshop covers pricing strategies, positioning, the difference between features and benefits, and different marketing strategies. At the end of this session, you will know how to: outline your marketing strategy, test your marketing message, choose the right sales channel, and exercise your marketing strategy.
Session 4: Financial Projections – February 8, 2017
The fourth workshop uses exercises to help you better understand financial concepts. This session reviews sales and prices, financial risks and rewards, true start-up costs, ongoing operating expenses, setting benchmarks for tracking progress and the organization of all your financial information. Using a hands-on approach, you learn how to use our financial model to forecast sales revenue and build solid pro-forma financial forecasts.
Session 5: Funding Sources – February 15, 2017
The final workshop offers information on how to finance your small business. In this session, discussions include sources of funds, accounting the six C’s of credit, banking relations, ratio analysis, and monthly preparation and review of financial statements. A bank loan officer will give an inside view of how a banker assesses the merits of business plans and loan application. At the end of the series, you have all of the tools necessary to decide whether or not to launch your small business.
“At the end of the five workshops, attendees will have a solid understanding of start-up basics, marketing strategy, and financials,” says SCORE CEO Ken Yancey. He adds, “This is a blended learning model bringing workshops, learning exercises and mentoring to entrepreneurs in a one-stop training program to help entrepreneurs make a smart small business start.”
Since 1964, SCORE has helped more than 10 million aspiring entrepreneurs and small business owners through mentoring and business workshops.
More than 11,000 volunteer business counselors in over 300 chapters serve their communities through entrepreneurial education dedicated to the formation, growth and success of small businesses. If you are unable to attend this series, or need more in-depth consultation, they provide free consultative services at the Chamber every Friday.
The first session on January 18th is free for all attendees. After that, each session is $25 or the remaining four sessions may be purchased together for $80.
To set up an appointment, call the Chamber at 860-584-4718. For more information on SCORE, visit https://northwestconnecticut.score.org.
To register for Simple Steps for Starting Your Business workshops, visit www.CentralCTChambers.org.
For more information, email Info@CentralCTChambers.org or call 860-584-4718.
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