Just like when building a house the foundation for your business provides the framework for success. A business built on weak structure will struggle to succeed. We'll address some of the most pressing issues that you as a business owner must face while constructing the proper framework for your business.
Specifically at the end of this course you will be able to:
- create and evaluate your company's financial documents;
-complete the documents and regulatory procedures to create a legal business entity;
- protect your intellectual property;
-develop a management team;
Company Structure & The Foundation: Financial Statements and Projections
Great companies are built upon great structures. We believe this structure is comprised of four critically important components: 1.) Development of your financial statements. 2.) Creating your legal entity. 3.) Protecting your intellectual property. 4.) Building your team. In Module 1, the learner will receive an introduction to the basics of the three financial statements: Income Statement, Balance Sheet and Statement of Cash Flows. By the end of this module you should be able to recognize the differences between each financial statement and understand the role they play in assessing the performance of your company. To close out the module you will be challenged to develop your first projected income statement for your business concept.
The Frame: Forming the Legal Entity
By the end of this module, you will be able to explain the difference between C-Corps and LLC entities. You will also be able to use this understanding in order to establish your own business entity.
The Features: Intellectual Property
Intellectual property is an often misunderstood component of business success. By the end of this module you will have an understanding for the basic forms of intellectual property protection and the role each one may play in the development of your small business.
The Finish: Building the Team
Who you surround yourself with as you launch your venture will have an enormous impact on whether or not you succeed or fail. In this module we cover why team matters and how to recruit the right people to join your cause. By the end of this module you should have a feel for the characteristics of people that would be a good fit for your team and you will put your skills to the test by developing a staffing plan for you venture.
David Wheeler, Forrest S. Carter and Ken Szymusiak