Venture Development Basics Workshop
While many organizations have clear ideas about the businesses they are after, their experience and knowledge when it comes to starting and running successful businesses. Similarly, committee and board members need a basic understanding of business planning (markets, products, customers, competition, profit and loss, equity, balance sheets, etc.) in order to evaluate proposals and monitor evolving businesses.
This event introduces the concepts and methods of venture development to any of the following:
- community members who are considering the establishment of an independent business or who currently occupy or are moving towards management positions in community enterprises
- current or potential members of economic development committees, or boards of community enterprises or development corporations who have limited experience in business.
- economic development staff or other staff who must play a counselling role to community members considering or starting businesses.
This event, based on the Venture Development Basics Workbook, may be customized to run between three and five days. By its end, participants can expect to be able to:
- describe the major steps in the venture development process.
- define the main advantages and disadvantages of getting into business and the main methods for entry into business.
- identify the key entrepreneurial characteristics that support business success.
- understand and apply venture selection criteria.
- identify and understand the steps in business planning, including the steps involved in collecting the data, making the decisions, and forecasting the results.
- demonstrate familiarity with the structure, relationship, and content of balance sheets, profit and loss statements, and cash flows.
- demonstrate a basic understanding of computer spreadsheet models and their application in business planning.