About this Event
This dynamic two-hour in-person training session is designed for aspiring entrepreneurs eager to launch and grow successful startups. The class provides a comprehensive exploration of the essential components needed to build a robust business foundation.
Key Topics Covered:
• What’s Your Purpose: Find a need, fill a need, passion, and purpose.
• Effective Market Research: Learn techniques to identify markets, understand customer wants/needs, and analyze competitors, providing the critical data necessary to shape your business strategy.
• Business Model Canvas: Discover how to map out your business idea visually using the Business Model Canvas. We will be touching on this tool so you can start to define key partners, activities, resources, and value propositions, and ensure that every element of your business is aligned.
• Economic Model of a Business: Understand the underlying economic principles that drive profitability, including the distinctions between high fixed cost and high variable cost firms. This segment helps you evaluate cost structures and operational leverage.
• Legal Entities & Business Licenses: Learn about the different types of legal structures (LLCs, corporations, partnerships, etc.) and the importance of selecting the right one for your business. In addition, learn where to go to obtaining business licenses in Maine, ensuring you comply with local regulations.
• Access to Capital & Financing Sources: Explore various funding options available to startups, including traditional financing, SBA loan guarantees and microlenders, crowd sourcing, and alternative funding sources. Gain insight into how to position your business for financial success.
• Developing a Business Plan: Break down the components of an effective business plan. Understand what investors are looking for, how to articulate your vision, and how to set achievable milestones.
• SBA Programs and Services: Gain an overview of the U.S. Small Business Administration (SBA) programs that offer advising/mentorship, selling to the government and global markets, how the SBA assist with access to capital, and other services to help new businesses thrive.
• Additional Topics: The session will also touch on other critical aspects of launching a startup, providing you with better formulated questions to discuss with your advisor or mentor so you can move forward with confidence.
Learning Outcomes:
By the end of this training class, participants will have a better understanding of:
• Conducting and interpreting market research to validate their business ideas.
• Utilizing the Business Model Canvas to refine their business strategies.
• Understanding key financial and operational concepts that affect startup viability.
• The most common legal entities and obtaining necessary business licenses in Maine.
• Parts of a compelling business plan.
• Available resource partners for advising and mentoring.
Whether you’re at the ideation stage or looking to solidify your business’s foundation, this class will equip you with the tools, knowledge, and confidence to take your startup to the next level.
Event Venue & Nearby Stays
York Region Chamber of Commerce, 1 Stonewall Lane, York, United States
USD 0.00
