Build a Better Business Program 2.0

Module 1 - Business Start Up 2.0

SHOULD YOU START A BUSINESS?
You are here today because you have either recently started or are considering starting your own business. Congratulations! It is an exciting time! Being a business owner comes with a lot of freedom and potential rewards, but it also comes with a significant amount of risk. While your earning potential is unlimited, you will be giving up the security of a steady pay cheque.

This program is designed to help you make a decision about starting a business (if you have not already), give you the best possible start if you do, and provide insights into areas that are commonly overlooked.

At some point in this program, you will decide one of three things:

1. Yes! I cannot wait! Let us get started!
2. No, not now! Now is not the right time, but I am going to do some more planning and think I would like to start a business in the future.
3. No, not ever! I do not think running a business is for me.
   All of these are perfectly good answers. The more you learn, the more you will start leaning towards one of the three options. We want you to start your journey with your eyes wide open!

Module 2 - Business Planning 2.0

INTRODUCTION
Creating a comprehensive, formal business plan is a large task on its own and there are many great resources already available online and through Community Futures to help you write one.

This module is more about planning your life so that you can run a business, than it is about planning the business itself. Having a business plan is important, but planning your life as you transition into being a business owner is equally important and often missed!

We are also going to review the parts of your business you need to really think through to create both an informal business plan and a formal business plan.

Module 3 - Credit and Financing 2.0

INTRODUCTION
Taking on debt when you start a business is something that should not be entered into lightly. If you do not have a source of regular income when you start your business, a business loan is certainly something to consider, even if you have access to savings or personal credit.

The objective of this module is to provide you with information so you know what to expect and what some of your options will be when looking for business financing.

Module 4 - Pricing and Cash Flow 2.0

INTRODUCTION
Getting your price right is both a science and an art that definitely takes some finesse. Too high and you will not have enough customers. Too low and you will not be profitable.

Most business owners start too low…way too low! Increasing your price later is a lot harder than starting with a sustainable price, especially with your existing customers.

In the Pricing section of this module, we are going to focus on the science of pricing. The science involves factoring in all known details, including often forgotten costs, to find a realistic starting point for price.

Module 5 - Marketing 2.0

INTRODUCTION
Branding and marketing work together but are often lumped together as the same thing. Sbmarketingtools.com sums up the difference nicely. “Branding is the story you tell and marketing is how you tell it.”

Marketing and advertising are also commonly lumped together. According to ama.org, advertising is a part of marketing. “Marketing is the process of identifying customer needs and determining how best to meet those needs. In contrast, advertising is the exercise of promoting a company and its products or services through paid channels.”

The American Marketing Association recommends that new businesses focus on identifying customer wants and needs first, developing a detailed marketing plan, before spending too much money on advertising.

Social media has created unprecedented access between companies and customers, making it easy for even the smallest companies to stay connected with their customers for little to no cost at all!

Module 6 - Human Resources 2.0

INTRODUCTION
Human Resources (HR) is the backbone for many businesses.

It is the human capital that can make or break a business as it involves the people who make up the workforce. HR is one of the areas new business owners may not give much thought to when they are starting out. If you do not have anyone working for you, there is probably not too much that will apply. However, for most new business owners, understanding the need for staff early on in their new business plan is important. Some may end up hiring people quickly.

This module will look at the basic aspects of HR, including what laws your business will need to follow, what policies are necessary almost right from the start, and other factors such as how much to pay people, how to manage performance issues and pitfalls to avoid along the way.

Module 7 - Insurance and Legal 2.0

INTRODUCTION
Understanding the basics of insurance, simple contracts, lease agreements and other legal business topics can help you protect your company from risk and loss.

This module will cover the insurance and legal basics that every entrepreneur should know.

Module 8 - Bookkeeping Basics 2.0

INTRODUCTION
Bookkeeping basics are something every business owner should know. This module will cover
simple bookkeeping strategies, habits and systems that can help to keep your company’s financial
information organized, clear and useful.

Module 9 - Financial Statements 2.0

INTRODUCTION
In this module, you will learn how to read and understand your company’s financial statements. The Profit and Loss Statement, the Balance Sheet and the Cash Flow Statement will all be covered.

Module 10 - Taxes and Other Fees 2.0

INTRODUCTION
If you feel unsure or stressed when you hear the word “taxes,” you are not alone! Many people find taxes confusing, especially when starting a business. But the more you understand taxes, the easier it will be to plan, avoid surprises, and make better business decisions.