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august, 2019

19aug1:00 pm5:00 pmEvent OverBuilding Your BusinessSBSD, In Collaboration With SBA, SCORE and Community Tax Law Project (CTLP)Region:Central Virginia and SouthEvent Type:Business Development and Outreach Services

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Event Details

You will learn the importance of developing a business plan after determining proof of concept. A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business. The workshop will cover the necessary elements that are included in a business plan. In addition, participants will learn to consider the two common types of business plans.

Whenever you start a new adventure whether it’s running a race, preparing a meal, or adding a new room to your home, experts say it is better to envision the end result and work backwards. Starting a new business is no different! As a small business owner, you should be planning your exit strategy in the early stages of your company. Whether you plan to sell it, leave it as a legacy, liquidate it, or something else – HAVING A SUCCESSION PLAN IS IMPORTANT TO HELP ACHIEVE YOUR GOAL!

You will get an overview of the important legal and tax implications of owning and operating a small business.  The workshop will cover the importance of choice of entity, what each type of business entity means from the perspective of an owner, and what the basic income tax implications are for each entity.  Different funding sources will be discussed as well as their implications to the business and the business owners.  Finally, this segment will touch on company growth and options for merging, acquiring, and spinning off parts of your business.

90% of companies simply mark up their costs to determine a price–and then mark down their prices to stay competitive. If that’s your approach, you are leaving dollars on the table! Did you know that a 1% increase in price, all other factors being equal, yields an 8% increase in profits? In this hands-on workshop, learn practical tips and tools you can use to improve your pricing and profitability today!

Agenda:

  1. Your Business Plan — A Powerful, Living Document
  2. Your Exit Strategy — For Every Stage of Your Business
  3. Legal implications of Your Business Structure
  4. The Price Is Right — Don’t Leave Money On The Table

 

 

Time

(Monday) 1:00 pm - 5:00 pm

Location

Gayton Library

10600 Gayton Road / Henrico, VA 23238

Organizer

Randy Brown; Business Services Manager - Central / SouthDirect (804) 371-8258 ; Cell (804) 349-5603 randy.brown@sbsd.virginia.gov

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Address:
101 N. 14th Street, 11th Floor Richmond, VA 23219
Phone:
1(804) 786-6585
Email:
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