Is Owning a Business a Good Fit for You?

  • Distinguish the myths and realities of small business ownership.
  • Start a self-assessment to determine their readiness to become business owners.
  • Set a plan of action gathering feedback from family, friends and potential customers.

Planning for a Healthy Business

  • Convert a vague idea into a resource plan.
  • Understand how a business plan helps motivate stakeholders to support their business ideas.
  • Understand the importance of personal credit and a healthy relationship with lenders.

Managing Cash Flow

  • Understand the purpose of cash flow management in a small business.
  • Make cash flow projections based on the cash cycle.
  • Identify some ways to manage cash flow, including receivables and payables.
  • Work more effectively with technical experts.

Banking Services

  • Identify the most common banking services for a small business, including business checking, payroll processing, business loan and others
  • Evaluate your business and what banks have to offer to you
  • Identify which banking services are the best for your business

Organizational Types

  • Understand the general characteristics, pros, and cons of these five common organizational types: Sole proprietor, Partnerships, Limited liability company(LLC), C-corporation and S-corporation
  • Understanding what is the consideration when you decide your organization types
  • Identify which organization types can benefit your business

Time Management

  • Understand why time management is important to small business
  • Apply some general time management practices, including: Pareto Analysis, ABC Method, Eisenhower method and POSEC method.

Financial Management

  • Understand the concept of financial management and its importance
  • Explain financial management practices, rules, and tools commonly available to small business
  • dentify financing basics for small business, such as: start up financing, financing fixed asset, working capital

Record Keeping

  • Record keeping basics- practices, rules, and tools
  • Understand how and which records can benefit your business
  • Identify software products relevant to business record keeping

Credit Reporting

  • Understand the purpose for credit reporting and its benefits, risks, and responsibilities
  • How these credit reports works and Identify differences between business and consumer credit reports
  • Understand how to improve your business’ credit.

Risk Management

  • Identify the common risks relevant to a small business.
  • Identify the common warning signs of risk for a small business.
  • Implement, monitor, and evaluate a risk management plan for their business


  • Understand why insurance is needed for a small business
  • Identify other types of insurance that a small business should consider
  • How to choose the insurance products that are best for your business.

Tax Planning and Reporting

  • Understand the federal, state, and local tax reporting requirements of a small business
  • Explain how to manage your tax obligations and establish proper accounts
  • Understand how the forms and processes are used to pay business taxes

Selling a Small Business and Succession Planning

  • How to sell and close a business
  • Understand benefits of creating a retirement plan