Small Business Training - Money Smart Week 2013
2 Days of Small Business Training
For Existing and Start-up Business Owners and Managers
Tuesday, April 23
Accounting Basics for Small Businesses
With a solid understanding of basic accounting principles, business owners and bookkeepers can effectively communicate and interpret the financial results of their business. This class is focused on the small business owner or prospective owner who wants to better understand accounting basics in order to determine how to set up bookkeeping practices for a business. Learn basic terminology and explore typical transactions encountered in a small business environment.
- Understand why formal books are useful and necessary for all businesses
- The Balance Sheet - What is it and why is it so important
- Understand the difference in cash vs. accrual accounting
- Learn basic information about chart of accounts
- Understand basic double-entry accounting (debits & credits)
- Understanding Gross Profit Percentage - How do I make more money?
Technology Strategy for a Small Business
When starting a new business or adding office technology to an existing business, there are many considerations that need to be addressed. This workshop will help you make informed decisions.
How will different forms of office technology be used in your business? Basically, how can computers and other technology save you time and resources while making your business more profitable. This presentation will help you embrace technology as an aid to your business, not a necessary evil.
But, also, consider your Return on Investment (ROI) before acquiring new equipment, software and services.
- Can you decrease the number of manual operations, i.e. cut labor costs by automating procedures through technology?
- Can you achieve better inventory control or use real time management/accounting tools to make critical decisions?
- If you have a retail establishment, will you need Point of Sale applications to provide better customer service, getting repeat business.
- Do you need specialized software for your particular industry?
- What type of precautions should you take to protect your business.
Once you have determined how technology will be utilized in your business, many of technology questions will be easier to answer.
A Commercial Banker's Considerations when Evaluating a Commercial Loan Application
Discussion will include:
- the questions your lender will ask,
- what documentation your lender will require and
- what financing options are available for your business.
Customerology: How Customer Experience Design is your Most Powerful Marketing Strategy
- New Customer Acquisition – increase sales from targeted new customers.
- Increase Customer Retention/Repeat Sales – it can cost up to seven times more to acquire new customers then to sell to current ones. Build repeat business effectively, and keep it coming.
- Differentiate Your Customer Experience – set your business apart from your competitors in your customers’ minds.
- Evolve Unhappy Customers into Fans of Your Business
- Boost Brand Value & Integrity
- Engage Customers in Brand Affinity & Loyalty
- Grow Positive Word-of-Mouth – the most cost-effective marketing is word-of-mouth. It’s also the most difficult to achieve.
- Map the touchpoints of customer interaction.
- Determine the experience you want your customers to have
- Define a strategy to implement customer experience design and optimization
Wednesday, April 24, 2013
Social Media Marketing Made Simple
You’ve probably heard of social media. You may even understand the value social
media can bring to your business. Now wondering how to start? In this introductory
session, we cover strategies and best practices to get the most out of your social media
- What social media marketing really is and why use it
- Introduction to social media channels and how to evaluate what’s right for your business or organization
- How small businesses are using these low-cost tools to gain visibility, develop relationships and drive sales and response
- How to create good content for your social media marketing campaigns and time management
- How to balance social media marketing with email marketing and your other marketing efforts.
Facebook for Business
In the last couple of decades, the Internet has completely changed the way most companies find and interact with their customers, and vice versa. Now, the incredible popularity of social media sites like Facebook it is changing things once again… and this time it's personal.
That's because, unlike nearly any other form of Internet marketing, Facebook allows us to make strong one-on-one connections with the men and women we'd most like to turn into customers. To take advantage, however, you have to know what works and doesn't, set up some policies, and have plans to use them the right way.
Here is an agenda of the presentation:
- Overview of social media marketing
- The differences between Facebook pages, business fan pages and groups and why a Facebook Fan Page is best for your business.
- Review case studies to learn how businesses are already successfully using Facebook Fan Pages
- How to setup your Facebook Fan Page or Profile
- Chat with friends
- Send a private message
- How to create an ad on Facebook
- Facebook Rules and Etiquette
- Tag photos and companies
- Hide connections and applications
- Q & A time to address issues regarding online marketing
This is a presentation and not a hands-on workshop but you can bring your computer to follow along.
Introduction to Exporting: Business in a Globalized World
As business activities have become increasingly international, companies need a strong grasp of domestic, foreign and international requirements for exporting – or a good relationship with their local SBDC International Trade Center.
With nearly 96 percent of the world's customers living outside the United States and two-thirds of the world's purchasing power in foreign countries, tapping into opportunities in the global market is more important than ever for small business owners looking to increase sales and profits.
We will be discussing:
- determining if your company is “export-ready
- evaluating potential foreign markets for your products and services
- assessing and complying with US and foreign trade regulations and laws
- identifying cultural challenges
- familiarizing yourself with shipping methods, payment methods, export financing and channel partners.
Starting a Business in Illinois
Topics covered will include the following:
- How to get the business name registered
- Where to get a tax ID number
- Licenses & permits
- What legal form to choose (proprietorship, partnership, corporation)
- Sales taxes
- Estimated quarterly income tax
- Employee taxes
- Financing your business
- Preparing a business plan
- Federal, State, City and County Requirements