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.
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.
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.
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.
ESSENTIALS OF BUSINESS OWNERSHIP
Introduction to starting a business, finding a niche and establishing your leadership style and corporate culture
FINANCIAL AND ACCOUNTING MANAGEMENT
Overview of financial aspects of entrepreneurship, including balance sheets, rations and financial, income and cash flows statements
Building a marketing program to support your business; marketing goals and planning, budget and implementation
STRATEGIC MANAGEMENT IN OPERATIONS
Defining your business model and strategic plan; creating and implementing strategic alternatives
POSITIONING FOR AND FINDING FINANCING
Positioning the owner and the entity to find financing
Fundamentals of communication and active listening; knowing the audience, establishing credibility as the speaker
ORGANIZATIONAL LEADERSHIP AND DECISION MAKING
What is a leader?; leadership theories, decision making and empowerment
LEGAL ISSUES IN OPERATIONS
Navigating Agency and Employment Law to run your business legally and ethically; Sales and Products Liability
BUSINESS PLAN DEVELOPMENT
Defining and developing a comprehensive business plan
UNDERSTANDING FINANCIAL STATEMENTS
Debt vs. equity; factors to consider and terminology
ORGANIZATIONAL DEVELOPMENT AND CHANGE
Types of organizational culture and change; the human side of change and resistance
PRINCIPLES OF BUYING AND SELLING A BUSINESS
Key Steps in preparing to sale or purchase; considerations about corporate culture
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.
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.