Create a Simple Plan for Your Small Business

Even a basic plan of action improves your chance of success in business!

Having a plan helps you make critical decisions that determine whether you succeed or fail in a small business. Especially when you're starting out. Spending time identifying your core customers, knowing what research is important and understanding the key resources you'll need can make sure you’re moving your business towards profitability and growth

Unfortunately, business planning is a process that many find confusing and complicated. The format of a traditional business plan can be unfamiliar, awkward and intimidating. Knowing what information is critical for your specific business and knowing where to get that information can make the difference between a useful plan or one that ends up on the shelf ignored.

In this interactive, in-person class we will take a fresh look at how to create a business plan. One that is easy to understand and works for any small business.

You will learn an approach planning that is less confusing, shows you how to figure out what information you really need to research, and gives you the ability to make important decisions. SBDC Manager Eric Byrd will walk you through building your own simple business plan using tested tools and best practices so you can easily chart a course for success.

First you will identify the 5 Elements of Your Plan and begin answering important questions about your customers, their needs/wants, your solution and what resources you'll need to begin (or to grow if you're already in business). This becomes the foundation of your plan. It's critical information so you can make the best decisions and take productive actions once you launch. Also in Session One, you will discover a process to identify your core Customer(s) and what Value makes them want to buy what you offer.

Next you will incorporate that information and begin defining the business model for your company. This will help you understand what will be involved in operating your business successfully. Also in Session Two, you will learn three key financial reports all business owners need to know, as well as important financial terminology to help you manage revenue, expenses and focus on profit in your business.

Throughout the process you will be able to ask questions and identify the specific information you need to have to create the right plan for your specific business.

Speaker(s): Eric Byrd, Manager, Loudoun SBDC

Fee: $0 No Cost

One In-Person Session:

Thursday, June 15th, 2023  9:00am – 1:00pm

The session will be hosted by the Town of Hillsboro at the Historic Old Stone School in Hillsboro, Virginia. Seating will be limited, so sign up early to guarantee your spot!

This is a live, in-person training event so there will be no recording of the sessions. It's important for you to attend both sessions to get all the important information you need.