Business & Entrepreneurship Fundamentals | Seattle
Covers the fundamentals of starting and running your own design business that is uniquely tailored to define and meet your personal goals.
In this course, you will create a strategic plan that is based on your unique capabilities and helps you to define and measure your goals culminating in the development and presentation of a business plan for your first year of business.
- Develop a detailed understanding of your unique personality type and strengths and how they direct the course of your business
- Develop a one page strategic plan including core purpose, core values, mission statement, key strategic objectives and financial objectives
- SMART Goals: Define your personal business objectives and Key Performance Indicators (KPIs) for measuring your first year
- Develop your businesses positioning statement including target market, key qualifiers, distinctive offering, compelling reason to buy, and competitive differentiators
- Develop your marketing communications and demand generation plan
- Create a sales forecast and plan. Learn how to track and forecast your leads and opportunities and convert leads into revenue.
- Develop your first-year budget
- Understand key financial concepts and terms including how to read an income statement, balance sheet and statement of cash flows
- Develop your business organizational plan including chart of accounts, tax structure, capital structure and organizational plan. Learn practical tools for tracking and measuring your business.
- Create and present your business plan to your class for final grade and feedback
Fridays, 9:00am – 11:00am / $399
Summer: June 7 – July 12, 2019
Fridays, 11:30am – 1:30pm / $599
Fall: September 27 – November 1, 2019
Week 1 – Know Thyself
- Personality Profile – what drives you and makes you different; what challenges must you overcome and organize for?
- Define and document your personal why – defining your core values, core purpose and mission statement
- SMART Goals – defining your personal business objectives including financial objectives and how to measure success
Week 2 – Know Your Customer
- Defining your target market: who and why?
- Defining key qualifiers
- Defining your unique offering
- Understanding and mapping your buyer’s journey
- Differentiation – Why buy from you? Your unique offering and distinct message.
- Creating a positioning statement
Week 3 – Reaching Your Potential Customer
- Mapping your buyer’s journey to your “breadcrumbs”
- Innovative ways to attract potential buyers
- Define and develop your communication assets
- Create a marketing plan – who, what, when and how much – build your model
Week 4 – Turning Potential Customers into Buyers
- Tracking potential customers
- Understanding and documenting needs and tying to value
- Creating proposals
- Overcoming objections
- Creating invoices and managing accounts receivable
- Creating a sales forecast and model
Week 5 – Plan the Work, Work the Plan
- Incorporating Your Sales and Marketing Plan
- Organizational plan – choosing your type of company and tax structure
- Organizational structure – managing employees and contractors
- Chart of accounts –tracking and managing revenue and expenses, what to track and how to track it Income Statement – revenue, expenses, gross margin, overhead, EBITDA and profit
- Balance Sheet –understanding investments, loans, depreciation
- Managing Cash flow – accounts receivable, deposits, collections, managing returns
- Quiz – basic accounting terminology and concepts
Week 6 – Present Your Business Plan