Entrepreneurship
Starting a successful small business is a possibility for entrepreneurs with skills, knowledge and passion to bring their product or service to market. This 100% online will teach you the principles for opening and running a small business or start up. Key topics include the communication and leadership skills, management principles and financial and legal concepts needed to start and operate a new business entity.
- According to TheHill.com, there are over 582 million entrepreneurs in the world. FreshBooks estimates that more than 15 million Americans are full-time self-employed. Entrepreneurship is a nearly-unlimited opportunity, given skills, knowledge and determination.
- FactFinder data indicates the 83.1% of American entrepreneurs started their own companies.
- Entrepreneurs start their own companies at any age and may be either male or female. Guidant Financial says that 60% of new businesses are started by people between the age of 40 and 60. Babson’s data indicates that as many women start businesses as men.
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WHAT DOES IT TAKE TO START A BUSINESS?
Starting and running a small business requires mental, emotional and financial resources. There is an established set of procedures that involve organizing, launching and operating an owner-managed business. Knowledge about legal and financial aspects of business creation, development and management principles and communication skills are invaluable to the start-up entrepreneur.
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DO START-UP BUSINESSES HAVE HIGH FAILURE RATES?
While conventional wisdom holds that a majority of new businesses fail, recent data may point toward a different conclusion. According to Enrepreneur.com, new business failure rates have fallen by 30% since 1977, due in part to the relatively low cost of starting a small-scale business. Small Business Genius estimates the failure rate for brand new businesses at 22.5% for the first year. A well-organized and professionally run business has a nearly-80% chance of succeeding through the first year start-up process.
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IS TRAINING IMPORTANT FOR ENTREPRENEURSHIP?
While some entrepreneurs start their businesses without formal training, a well-designed entrepreneurship course provides formal knowledge about financial, legal and management issues they may not receive outside the course format. For example, according to CBInsights, 42% of businesses that fail do so because there is no demand for their product or service. Another 29% fail for lack of proper capitalization and budgeting.
- Know the various types of financing available for entrepreneurs, from venture capital to traditional financing sources
- Gain confidence and improve management communication skills needed to collaborate with vendors, clients, and partners, including employees
- Understand legal requirements for starting and running a business
- Learn the essentials of creating and developing a successful business plan
- Learn to use a business plan as a tool for internal strategic management and external positioning
- Explore the business development process
- Understand how to create change
There are no prerequisites to take the course.
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ESSENTIALS OF BUSINESS OWNERSHIP
Introduction to starting a business, finding a niche and establishing your leadership style and corporate culture
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FINANCIAL AND ACCOUNTING MANAGEMENT
Overview of financial aspects of entrepreneurship, including balance sheets, rations and financial, income and cash flows statements
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MARKETING MANAGEMENT
Building a marketing program to support your business; marketing goals and planning, budget and implementation
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STRATEGIC MANAGEMENT IN OPERATIONS
Defining your business model and strategic plan; creating and implementing strategic alternatives
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POSITIONING FOR AND FINDING FINANCING
Positioning the owner and the entity to find financing
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PERSUASIVE COMMUNICATION
Fundamentals of communication and active listening; knowing the audience, establishing credibility as the speaker
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ORGANIZATIONAL LEADERSHIP AND DECISION MAKING
What is a leader?; leadership theories, decision making and empowerment
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LEGAL ISSUES IN OPERATIONS
Navigating Agency and Employment Law to run your business legally and ethically; Sales and Products Liability
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BUSINESS PLAN DEVELOPMENT
Defining and developing a comprehensive business plan
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UNDERSTANDING FINANCIAL STATEMENTS
Debt vs. equity; factors to consider and terminology
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ORGANIZATIONAL DEVELOPMENT AND CHANGE
Types of organizational culture and change; the human side of change and resistance
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PRINCIPLES OF BUYING AND SELLING A BUSINESS
Key Steps in preparing to sale or purchase; considerations about corporate culture
Instructors
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Kelley Burgess
Kelley Burgess is a public-speaking coach and author and presenter of the half-day seminar “Serving with Maximum Effectiveness.” Previously spent five years teaching speech, debate, and mediation at the high-school level and was named in “Who’s Who of America’s Best Teachers” in 2003, 2004, and 2005. She holds a bachelor’s degree from the University of Maryland.
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Katrina McBride
Katrina McBride’s career reflects extensive experience in organizational leadership, marketing strategies, and market development in multi-national corporate environments. Her leadership abilities have been utilized to develop new programs and functional areas. In director-level positions for Nortel Networks, she led strategy for competitive intelligence, emerging markets, and lead generation. McBride holds an M.A. in organizational management and a B.S. in psychology.
Registration and Enrollment
This course is 100% online. Start anytime.
