BUS 141 - Small Business Start-Up

1. Identify research strategies for business startup and development.
   1. Create and assess startup ideas.
   2. Determine methods used in researching and assessing the marketplace.
   3. Describe criteria used to identify a market niche.
   4. List methods used to identify and characterize a target market.
2. Determine the appropriate and/or legal requirements for starting a business.
   1. List criteria used to select business name.
   2. Identify site selection criteria.
   3. Differentiate between the legal structure formations of a business.
   4. Determine items and assets that need to be legally protected by registration, patent, copyright, or trademark.
   5. Determine the steps for securing your company name and licenses.
3. Determine the marketing strategies necessary to get a business started.
   1. Identify promotional tools used to present your business.
   2. Determine image, advertising, selling and public relation strategies.
4. Summarize the financial needs projections that must be identified before starting your small business.
   1. Prepare a preliminary sales forecast.
   2. Prepare a preliminary balance sheet.
   3. Prepare a preliminary profit and loss statement.
   4. Prepare cash flow projections.
   5. Determine types and amount of insurance that business should consider.
   6. Identify types of bookkeeping systems that can be used for your small business.
   7. Determine the types of records that you will need.
   8. Prepare a cash needs projection list.
5. Assess human resource needs for your business.
   1. Determine your strategies for employee recruiting process.
   2. Identify methods used in the hiring process.
   3. Describe methods used to get employees oriented and trained for opening day.
6. Demonstrate understanding of your business focus and operations strategy by developing a winning business plan for your business.