women & small business
TRANSCRIPT
Women & Small Business!
Starting a Small Business on a Shoe-String Budget
Agenda
• Why are you here – expectations?• YWCA Hamilton – Self-employment assistance• Your Idea • Financial Feasibility• Resources• Q & A
YWCA Hamilton – Self Employment Assistance
• BizSmartz – OSEB
• Micro-lending program for Women
What is the BizSmartz program?
Weekly BizSmartz information
session
Wednesday 9:00 am
Submit application
-10 min presentation
of your business concept
4 full weeks training in class and 6
hands-on on writing the
business plan
32 weeks of weekly
individual coaching
with a Business
Coach
Monthly “Learn & Network”
events
Visit an EO Service
Provider for referral to
Orientation Session
What is the Micro-lending program?
Weekly Micro-lending information
sessions
Determine eligibility –
Micro-lending Intake Form
Business Plan – coaching meetings
Loan application
- YWCA Hamilton letter of
recommendation
YWCA submits
completed business plan
and application
6 months of business
coaching & networking meetings
Financial feasibility
Determine if your business idea is financially feasible:
1. Uniqueness2. Upstart Funds 3. Customer4. Competition
Financial feasibility
5. Economic Mood6. Timing7. Marketing8. Continuing Cash Flow
Financial feasibilityDevelop a business plan by identifying your marketable
skills
“People pay for solutions, not your skills” Ramit Sethi, author of the New York Times bestseller, I Will Teach You To Be Rich.
How to be an Entrepreneur?
Business Plan
A business plan should be comprehensive but simple, and it should be updated each year. Include the following sections:
a) Business overviewb) Sales & Marketing Planc) Operating Pland) Human Resources Plane) Action Planf) Executive Summaryg) APPENDIX: Financial Plan
Business PlanThe relationship between the 8 points from determining
the Financial Feasibility and Business Plan:
Market your business• Popularity isn’t always the same as utility
• A strong social media presence can make a big difference for your business development
• Business brand is the combination of your reputation and visibility – by sharing educational content and joining industry conversations, you can bolster your reputation and your visibility
Market your businessSetting Goals:
1) Brand Building
2) Becoming a Visible Expert/NETWORKING
3) Content Promotion
4)The 10-Minute-a-Day Plan (social media)
5) Partnering Opportunities / NETWORKING
6) Industry Research and Monitoring
Market your business
The 10-Minute-a-Day PlanSTEP 1: Find Your Ten Minutes a Day
STEP 2: Be Patient; Revised your business posts on the social media channels
STEP 3: Start With Your Profile/your business page
STEP 4: Add Connections & set-up a goal regarding numbers of likes, followers, re-tweets, +++ and considering the number of new clients
STEP 5: Find Relevant Groups
Market your business
The 10-Minute-a-Day Plan
STEP 6: Cull Out Discussions Groups
STEP 7: Start to Comment
STEP 8: Start Discussions
STEP 9: Share Content and be consistent: daily posts and bi-weekly analyze of the results
STEP 10: Start Personal Interactions
Questions