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    2018 Starting A Business

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    zorthog
    The document discusses starting a small business in Michigan. It provides information about the Michigan Small Business Development Center (MI-SBDC) which offers free business consulting, education, and resources to Michigan residents. The webinar covers the steps to starting a business, including selecting an idea, researching the market, writing a business plan, and obtaining funding. Key points include evaluating your business idea based on market research, analyzing startup costs, and understanding that a business plan is an important tool to define goals and reduce risk for the business.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    2018 Starting A Business

    Uploaded by

    zorthog
    53 views37 pages
    The document discusses starting a small business in Michigan. It provides information about the Michigan Small Business Development Center (MI-SBDC) which offers free business consulting, education, and resources to Michigan residents. The webinar covers the steps to starting a business, including selecting an idea, researching the market, writing a business plan, and obtaining funding. Key points include evaluating your business idea based on market research, analyzing startup costs, and understanding that a business plan is an important tool to define goals and reduce risk for the business.

    Original Description:

    2018 Starting A Business - Webinar Slides from SBA

    Original Title

    2018 Starting a Business

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    The document discusses starting a small business in Michigan. It provides information about the Michigan Small Business Development Center (MI-SBDC) which offers free business consulting, education, and resources to Michigan residents. The webinar covers the steps to starting a business, including selecting an idea, researching the market, writing a business plan, and obtaining funding. Key points include evaluating your business idea based on market research, analyzing startup costs, and understanding that a business plan is an important tool to define goals and reduce risk for the business.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    53 views37 pages

    2018 Starting A Business

    Uploaded by

    zorthog
    The document discusses starting a small business in Michigan. It provides information about the Michigan Small Business Development Center (MI-SBDC) which offers free business consulting, education, and resources to Michigan residents. The webinar covers the steps to starting a business, including selecting an idea, researching the market, writing a business plan, and obtaining funding. Key points include evaluating your business idea based on market research, analyzing startup costs, and understanding that a business plan is an important tool to define goals and reduce risk for the business.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 37

    Starting A Business

    Michigan Small Business


    Development Center

    In partnership with:
    This webinar is available at no cost to
    Michigan residents through the
    financial support of Fifth Third Bank
    Michigan SBDC Customer
    Groups

    New Ventures

    Existing Businesses

    Growth Companies

    Advanced Technology
    Companies
    This webinar is available at no cost
    to Michigan residents through the
    financial support of Fifth Third Bank
    Michigan SBDC Services
    • No cost 1:1 business consulting
    • Business education
    • Information-based planning through
    (secondary) market research
    • Technology commercialization

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Michigan SBDC Teams
    • Small Business Team
    • Business Growth Team
    • Export Assistance Team
    • Technology Commercialization Team

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Michigan SBDC
    Business Education
    Take advantage of in-person and online learning opportunities for
    entrepreneurs. The MI-SBDC offers a variety of trainings presented by
    experienced professionals who can help you start and grow your
    business.
    Register at SBDCMichigan.org/training

    Topics Include:
    • Starting a Business
    • Business Plan
    • Financial and Accounting
    • Customer Relations
    • Government Contracting
    • Internet and Social Media
    • Legal
    • Management
    • Marketing and Sales

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    The Michigan SBDC
    Funded through a
    cooperative agreement
    with the
    • U.S. Small Business
    Administration (SBA)
    • Michigan Economic
    Development
    Corporation (MEDC)
    • Matching funds from
    Local Network partners
    in each region.

    Ian Rogers
    rogersia@gvsu.edu
    Training Manager
    MI-SBDC Lead Center

    Tamara Davis
    Regional Director
    Southwest Michigan Region This webinar is available at no cost
    to Michigan residents through the
    financial support of Fifth Third Bank
    Webinar FAQs
    • Questions Button:

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Webinar FAQs
    • Poll questions:

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Webinar FAQs
    • Webinar evaluation:

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Webinar FAQs
    • Webinar recording: email from
    info@clients.sbdcmichigan.org

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Webinar Objectives

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Poll

    Have you ever owned a small


    business?

    • Yes, I own one now


    • Yes, I owned one in the past
    • No, I’ve never owned one (yet)

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Guide to Starting
    and Operating a
    Small Business

    Also available online at:


    www.SBDCMichigan.org/GuideToStarting

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Self Assessment
    Personal Side:
    “Do I have what it
    takes?”
    Business Side:
    “Am I ready?”

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Self Assessment:
    Business Vision - Personal Vision

    Work

    Life

    BALANCE

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Steps to Starting a Business

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    #1 - Select a Business Idea

    • What PROBLEM does it SOLVE

    or

    • What NEED does it FILL?

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Poll

    What kind of business are you


    interested in?

    • Product
    • Service
    • Both
    • Not Sure

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    #2 - Research Your Business Idea

    • Industry
    • Market
    • Segments
    • Target Market
    = Best First Customers
    • Competition

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Market Research

    Your Library!

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Market Research

    Online:
    • Keywords
    • Trade association
    websites
    • Government
    websites
    • Competition
    websites
    This webinar is available at no cost
    to Michigan residents through the
    financial support of Fifth Third Bank
    Market Research
    • Michigan Electronic Library www.mel.org
    Select “Business”

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    More Research Tools

    • Surveys

    • “Shop” the competition

    • Talk to successful owner

    • Buy research

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Evaluate Your Business Idea

    Weigh the facts and make


    decisions based on what you
    KNOW, not “think” or “feel”.

    Decision Point:
    2a. Refine
    or
    Reconsider

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Startup Cost Analysis

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Startup Cost Analysis

    Plan A

    Plan B

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Poll

    Are you planning on getting grants to


    finance your business?

    • Yes
    • No
    • Haven’t thought about it yet

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Startup Cost Analysis

    • Personal resources
    • Friends and family
    • Grants
    • Investors
    • Loans
    • SBA Loans

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Startup Cost Analysis
    Decision Point:
    Weigh the facts and make decisions based
    on what you KNOW, not “think” or “feel”.

    3a. Refine
    or
    Reconsider

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Steps to Starting a Business

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Poll

    Have you ever written a business


    plan?

    • Yes
    • No
    • I’m in the middle of writing one
    right now

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    What is a Business Plan?
    Why the heck do you need one?

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Business Plan =
    • TOOL to define purpose, goals and structure
    • Identify ACTIONS needed to achieve the
    goals
    • Systematic method for reducing risk and
    increasing the probability of success
    • REQUIRED by lenders

    Business plan outlines provided, detailed instructions in the


    “Guide” and SBDC classes available on “Writing a Business
    Plan”
    This webinar is available at no cost
    to Michigan residents through the
    financial support of Fifth Third Bank
    Steps to Starting a Business

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Steps to Starting a Business

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank
    Next Steps – Your Assignment
    1. Read “Guide to Starting and Operating a Small
    Business”
    2. Use the tools provided to: a) assess your
    personal situation, b) gather your market
    research to determine feasibility, and c) define
    your startup resources
    3. Refine your business idea based on FACTS!
    4. Start writing your Business Plan (“Guide” outline)
    5. Consider more business education – check out
    SBDCMichigan.org/training or your local
    community education opportunities
    6. Call the SBDC office nearest you for plan review
    and ongoing guidance: www.SBDCMichigan.org
    This webinar is available at no cost
    to Michigan residents through the
    financial support of Fifth Third Bank
    Michigan SBDC

    Thank you!
    • Webinar evaluation

    • Course materials sent via email


    (check your spam filter if you don’t
    see them by 5pm)

    • No-cost 1:1 business consulting:


    https://sbdcmichigan.org

    • Business Education Programs:


    https://sbdcmichigan.org/training

    This webinar is available at no cost


    to Michigan residents through the
    financial support of Fifth Third Bank

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