DelCo SCORE and Bar Association host business planning workshops

Posted by Press Release on October 31, 2012

SCORE of Delaware County, in cooperation with the Delaware County Bar Association, will be conducting a series of workshops to help aspiring entrepreneurs and business owners learn how to develop a successful business plan. The workshops will be held at the Bar Association building at 335 W. Front Street in Media.

Workshop I: Business Concept & Data Collection will be held Nov. 13 from 6 – 9:30 p.m. This session introduces a personal business plan model that gives step-by-step guidance in researching and writing the business plan. There is an emphasis on the development and analysis of the idea behind the business, business structures, critical data collection, and competition analysis. Attendees will learn about the various resources available to help them estimate market potential and learn about potential competitors, including free online databases through the web portal of the Delaware County Library System.

Workshop II: Marketing Plan Development will be held on Nov. 20 from 6 to 9:30 p.m. This session begins the development of the business plan text with a focus on the Marketing Plan. There is instruction and workshops on product and service descriptions, pricing strategies, target markets, distribution channels and marketing communications.

Workshop III: Financial Plan & Projections will be held on Nov. 27 from 6 to 9:30 p.m. This session continues the business plan development with a focus on “the numbers.” Attendees will use a computer-based financial tool to estimate revenues and costs, profitability, cash flow and start-up costs. In addition, they will gain an understanding of important financial terms and learn how to interpret and use financial statements in running their business.

Workshop IV: Funding Your Business will be held on Dec. 4 from 6 to 9:30 p.m. This session completes the business plan with discussions on financing a business. Potential sources of funds are identified and the differences described. Attendees will learn how to approach a commercial bank and what it looks for in lending to a small business. The bank lending process is outlined and the information you will need in applying is illustrated. Representatives from a commercial bank, a microlender, an alternative lender, and the SBA provide insight and answers questions about their funding programs for small and start-up businesses.

Registration for these workshops is at delawarecountyscore.org/localworkshops.

For more information about starting or operating a small business, or to request free counseling from a SCORE volunteer, call 610-344-6910 or delawarecounty.score.org for Delaware County SCORE. Visit SCORE at www.score.org and www.score.org/women. Connect with SCORE at www.facebook.com/SCOREFans, www.twitter.com/SCOREMentors and www.scorecommunity.org