University of Wisconsin–Madison

Biz Smart Training for Entrepreneurs

Real World Training for Entrepreneurs

The Biz Smart Training for Entrepreneurs Class  includes an overview of the business areas crucial to planning and running your business. The class then helps you apply them to a business plan that you can use as a road map for your business. This program is meant for entrepreneurs who are just starting out, need a refresher of the business basics or need to update or create their business plan. It is also the class that participants in our Entrepreneurial Training Program take.

Each class includes 75-90 minutes of expert advice followed by 30-60 minutes of practical application.

Registration

Location: Grainger Hall, UW-Madison
Schedule: 6:00-8:30 pm
Dates: Thursdays, October 4 – November 29, 2018 Fee: $349

Click to Register

Cancellation policy: If you cancel before the program begins, there is a $25 cancellation fee. If you cancel after the program begins you will be charged for the full program fee. To cancel, call registration at 608-262-3909.

If there is inclement weather, please call 608-263-2221 for a recorded message after 6:30 am for day classes or after 3:30 pm for night classes.

BizSmart Training for Entrepreneurs Course Content

Introduction and Ideation:
  • Introduction to the class
  • Business Model Canvas – Ideation
  • What is a business plan – why both Business Model Canvas and Business plan?
  • Business mission statement, vision, products & services
Understanding your Market and Industry:
  • Define your market using the Value Proposition Canvas
    • Who is your Target Customer?
    • Competitive advantage and interviewing potential customers
  • Understanding your industry
    • Introduction to business library databases
    • NAICS code, Industry status and trends
Marketing Your Product or Service:
  • The basics of marketing
  • Developing a market communications plan including how to communicate benefits and competitive advantages
  • Promotional components to help reach target customers including estimated costs
  • The internet side of marketing
Legal and Operations:
  • Understanding the different legal entities and pros and cons of each
  • Basics of employment law, workers’ compensation & unemployment compensation, the difference between independent contractors and employees
  • Basics of patents, copyright, trademarks & trade secrets
  • Buying a business or franchise
  • An overview of business operations
    • Technology needs
    • Location
    • Risk Management
Human Resource Management and Operations:
  • Management/personnel regulations and job descriptions
  • Hiring the first employee, including recruiting & interviewing
  • Operations Continued
    • Process
    • Customer Service
Accounting and Record Keeping:
  • Type of records to track and options for doing so
  • Cash vs accrual accounting methods
  • Balance sheets and income statements and how they relate
  • Basics of income tax and other taxes
  • Deductible expenses and how they need to be documented
  • Start-up costs, financial projections and accounting basics
Financing:
  • Options for financing a business including bank loans, crowdfunding, angel and venture capital
  •  Importance factors including credit for bank financing
  •  Steps for applying for a loan
  • Different reasons for borrowing money (start-up, cash flow, capital equipment, expansion, etc.)
Putting it all together:
  • Review of the business plan sections –putting it all together
    • Executive summary
    • Pitch decks
    • Resources as you work on your business
  • Next Steps

Instructors

Michelle Somes-Booher

Director SBDC

Introduction Business Model Canvas and Business Plan

Tom Hershberger

Axiom Group, LLC

Understanding your Industry & Final Review of your Business Plan

Janet Hartung Renfert

Partners from Porter & Sack, CPAs:

Record Keeping, Accounting & Taxes

Paloma Kennedy

Attorney’s from Neider & Boucher, S.C.

Legal issues and requirements

Peggy Smith

UW School of Business Librarian

Understanding your market and industry

Adrianne Machina

Tornado Marketing

Using the Web and social media for your business

Karen Bender SPHR; SHRM SCP

HR Consultant

Human Resources side of Business

Dana Hoffmann

Summit Credit Union

Obtaining a Business Loan