Small Business Management Program
The Small Business Management program is comprehensive and practical. You'll start with business fundamentals and advance to hands-on procedures, from finding a location to motivating employees, preparing advertising to managing cash flow and more. Graduate ready to succeed in the real world.
The goals and values of Ashworth College; time management; creating a realistic weekly and monthly study schedule; the nature and purpose of assessments; how to study effectively to prepare for and take an online examination; developing the skill sets necessary for success in the twenty-first century.
Evaluating your business idea; setting yourself apart from the competition; market testing; investment funding and donation funding; qualities of an entrepreneur; crowdfunding and angel investors.
How to go into business for yourself; the steps involved in going into business; whether to start a new business, buy an existing one, or buy a franchise; the growing opportunities in franchising; how to tell whether a franchise is right for you; the future of franchising.
The market research concept and how it can be used by a small business; how marketing research can be used to target specific segments of the market; how to search for and identify a product needed by the public; the difference between primary and secondary research.
The legal forms of ownership of small businesses; the reasons for and against forming a proprietorship; the reasons for and against forming a partnership; the reasons for and against forming a corporation; the role of strategic and operational planning; the role of financial planning; why a business plan is needed and what purpose it should serve.
The importance of proper financing for a small business; how to estimate financial needs; why equity and debt financing are used and the role each plays in a small business; sources of equity financing; sources of debt financing.; what a lender looks for in a borrower.
How to determine the right location for a small business; the important factors involved in choosing a retail location; how to establish and maintain effective inventory control; what insurance is and how it can be used to minimize loss due to risk; guidelines for choosing an insurer.
The resources for recruiting employees; the importance of employee care; factors influencing employee compensation, health, and safety; ways to maintain positive relationships with employees; how to improve employee motivation; the emerging role of telecommuting in small businesses.
The importance of technology to a small business; options for computer technology in small business; how to choose technology for a small business; why a web presence is essential for a small business; two hosting options for a business website.
The importance of creating brand-name recognition; how brand-name recognition can limit product options; the use of advertising to promote the sale of a product; how to develop and implement a social media marketing strategy; examples of effective, affordable advertising.
The creative selling process used in personal selling; how research can make cold calls more productive; the steps that can make a sales presentation a success; how marketing services differs from marketing products.
How a website is primarily a marketing tool; the best ways to attract and keep visitors on your website; different social media channels used for marketing products and factors to consider in choosing appropriate strategies; the value of influence lists in marketing your business.
The definition of budget; how a budget is prepared and used; how to identify common mistakes in a financial statement; what causes changes in the financial position of a company; the financial structure of a business; how to choose a lawyer.
How to plan to make a profit in a small business; how managers exercise control in a small business; how the tax system operates, the taxes imposed on small businesses, and how the ownership of a business results in direct taxation of the owner; the importance of recordkeeping and tax reporting; the need for profit planning for a small business.
This program teaches students the theory and skills required to own and operate a small business. Lesson coverage includes critical concepts such as business plan development, sales and marketing basics, and fundamentals of small business accounting and finance. Students will also learn about basic management techniques required to recruit and hire employees, to purchase and control inventory, and how to use technology resources to improve business results.
After completing the Small Business Management program, students will be able to:
- Describe some of the current opportunities, trends, and challenges related to small business ownership and describe the characteristics of successful entrepreneurs.
- Identify the different forms of legal ownership for small businesses and describe the advantages and disadvantages of each from a variety of perspectives - including ownership, taxation, and organization.
- Describe how different types of businesses operate within the legal, regulatory, and tax environments in the United States.
- Describe the essential components of a profitable business - including strategic and operational planning, tax and estate planning, profit planning, human resource management, physical facility management, inventory management, and management information systems - and create a sample business plan that includes all required components.
- Explain why equity and debt financing are required, identify common sources of financing, and describe the roles that equity and debt financing play in the capital structure of a small firm.
- Describe issues related to developing, marketing, and distributing products, including finding a niche, managing inventory, working within the product life cycle, developing effective marketing strategies, and identifying appropriate channels of distribution including e-commerce.
- Explain how small businesses find and manage human resources including growth planning, employee recruitment strategies, managing to performance standards, and ensuring employee safety.
The Ashworth College Small Business Management program gives you the skills you need succeed. Call 1-800-957-5412 or enroll online today.