Sponsored by the Grow Delaware Fund and SCORE Delaware
Small businesses start with vision and hard work.
As they grow, businesses face tough challenges and unique opportunities. Many growing businesses fail and studies have shown it is due to lack of “Entrepreneurial IQ (EIQ)” – general and domain-specific business knowledge in: finance, operations, and marketing.
A public and private partnership came together to create"Managing to Succeed" – a cost and time effective path to EIQ!!
This value creation series will provide the conceptual framework of financial management to business owners in a simple and practical format – giving businesses the tools to thrive as they grow.
Gain hands-on practical tools and the financial skills required to develop a financial plan for success.
Breakout sessions to discuss YOUR real world experiences with fellow business owners and instructors to understand the path to success.
Understand financial statement analysis, budgeting, sustainable growth rate, profit planning, financial gap analysis and break-even analysis.
Where: 920 Justison St, Wilmington, DE 19801 (New Castle County Chamber offices)
Dates: May 1, May 17, May31, June 5, June 14, June 21 and June 28
Time: 4-7 pm each of the above dates, light snacks provided.
Fee:$249 early registration; $299 April 21 to May 2; $449 from May 3
SESSION 1 – MAY 1 - Valuing Your Business - Why and How
Paul Sloate will speak on the importance of managing for value growth. In this session, attendees will understand how future cash flows determine a firm's value, how competitive advantage drives cash flow, and why value is important.
SESSION 2 – MAY 17- Driving Sales Growth and Managing Costs
Introduction of different ways of driving revenue growth - from pricing to effective sales and product line management. This session will also outline different factors that business owners should consider to control variable and fixed costs.
SESSION 3 – MAY 31- Managing Working Capital
A business' current assets and liabilities have a major impact on future cash flow and value generation. Current assets such as inventories, account receivables, etc. can be a good source of cash. Current liabilities such as account payables, provisions, accrued expenses, etc. can impact cash flow. This session will outline different considerations pertaining to a firm's balance sheet.
SESSION 4- JUNE 5 - Managing Business Investments and Taxes
Every business needs investments to drive value growth. Businesses invest part of their earnings in property, plant, equipment, or product/service development. This session will provide practical tools to make smarter decisions about investments. We will also talk about key considerations around taxes.
SESSION 5 – JUNE 14 - Managing Market & Regulatory Factors for Growth
Once you are in business, managing your customers' expectations to retain them is critical in driving value growth. Similarly, keeping track of regulations that impact your business is imperative to business success. This session will outline the importance of understanding customers’ needs, regulatory factors, competition, market trends, and product innovation to drive growth.
SESSION 6 – JUNE 21 - Leadership & Human Resource Management
As business owners, you are the leader, coach, and mentor for all your employees. Your and your business' success and growth depend on the development and growth of your employees. In this session, you will understand the fundamental values required in a successful coach, laws and regulations governing employee hiring, development, and retention, and the importance of company values.
SESSION 7 – JUNE 28 -Financial Management & Tools
Maximizing your business' value also depends on the structure of financing - equity versus debt - that business owners choose. In this session, we will talk about the importance of selecting the right financing structure based on the nature of your business. We will also showcase various software tools that small business owners can use to manage their finances.
This series is made possible by the donation of time, talent and resources of a partnership working together to support economic development and small business