Office of Continuing Education

According to The Hill, there are over 582 million entrepreneurs in the world. FreshBooks estimates that more than 15 million Americans are full-time self-employed. Entrepreneurship is a nearly-unlimited opportunity, given skills, knowledge, and determination.

FactFinder data indicates the 83.1% of American entrepreneurs started their own companies.

Entrepreneurs start their own companies at any age and may be either male or female. Guidant Financial says that 60% of new businesses are started by people between the age of 40 and 60. Data from Babson College indicates that as many women start businesses as men.

WHAT DOES IT TAKE TO START A BUSINESS?

Starting and running a small business requires mental, emotional and financial resources. There is an established set of procedures that involve organizing, launching, and operating an owner-managed business. Knowledge about legal and financial aspects of business creation, development and management principles, and communication skills are invaluable to the start-up entrepreneur.

DO START-UP BUSINESSES HAVE HIGH FAILURE RATES?

While conventional wisdom holds that a majority of new businesses fail, recent data may point toward a different conclusion. According to Enrepreneur.com, new business failure rates have fallen by 30% since 1977, due in part to the relatively low cost of starting a small-scale business. Small Business Genius estimates the failure rate for brand new businesses at 22.5% for the first year. A well-organized and professionally run business has a nearly-80% chance of succeeding through the first year start-up process.

IS TRAINING IMPORTANT FOR ENTREPRENEURSHIP?

While some entrepreneurs start their businesses without formal training, a well-designed entrepreneurship course provides formal knowledge about financial, legal, and management issues they may not receive outside the course format. For example, according to CBInsights, 42% of businesses that fail do so because there is no demand for their product or service. Another 29% fail for lack of proper capitalization and budgeting.

Know the various types of financing available for entrepreneurs, from venture capital to traditional financing sources

Gain confidence and improve management communication skills needed to collaborate with vendors, clients, and partners, including employees

Understand legal requirements for starting and running a business

Learn the essentials of creating and developing a successful business plan

Learn to use a business plan as a tool for internal strategic management and external positioning

Explore the business development process

Understand how to create change

There are no specific prerequisites for taking this course.

ESSENTIALS OF BUSINESS OWNERSHIP

Introduction to starting a business, finding a niche and establishing your leadership style and company culture

FINANCIAL AND ACCOUNTING MANAGEMENT

Overview of financial aspects of entrepreneurship, including balance sheets, rations and financial, income, and cash flows statements

MARKETING MANAGEMENT

Building a marketing program to support your business; marketing goals and planning, budget, and implementation

STRATEGIC MANAGEMENT IN OPERATIONS

Defining your business model and strategic plan; creating and implementing strategic alternatives

POSITIONING FOR AND FINDING FINANCING

Positioning the owner and the entity to find financing

PERSUASIVE COMMUNICATION

Fundamentals of communication and active listening; knowing the audience, establishing credibility as the speaker

ORGANIZATIONAL LEADERSHIP AND DECISION MAKING

What is a leader?; leadership theories, decision making, and empowerment

LEGAL ISSUES IN OPERATIONS

Navigating Agency and Employment Law to run your business legally and ethically; Sales and Products Liability

BUSINESS PLAN DEVELOPMENT

Defining and developing a comprehensive business plan

UNDERSTANDING FINANCIAL STATEMENTS

Debt vs. equity; factors to consider and terminology

ORGANIZATIONAL DEVELOPMENT AND CHANGE

Types of organizational culture and change; the human side of change and resistance

PRINCIPLES OF BUYING AND SELLING A BUSINESS

Key Steps in preparing to sale or purchase; considerations about corporate culture

Kelley Burgess

Kelley Burgess is a public-speaking coach and author and presenter of the half-day seminar "Serving with Maximum Effectiveness." Previously spent five years teaching speech, debate, and mediation at the high-school level and was named in "Who's Who of America's Best Teachers" in 2003, 2004, and 2005. She holds a bachelor's degree from the University of Maryland.

Katrina McBride

Katrina McBride's career reflects extensive experience in organizational leadership, marketing strategies, and market development in multi-national corporate environments. Her leadership abilities have been utilized to develop new programs and functional areas. In director-level positions for Nortel Networks, she led strategy for competitive intelligence, emerging markets, and lead generation. McBride holds an M.A. in organizational management and a B.S. in psychology.