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Box 9656 Some photos on this page courtesy of USDA NRCS. |
Publications - SRDC Series #210 CA$HING IN ON BUSINESS
OPPORTUNITIES: Copyright 2000 by the Southern Rural Development Center The Ca$hing in on Business Opportunities Curriculum is designed to be used by educators who work with home-based and micro-businesses. The curriculum is comprehensive, covering a wide array of topics of interest to current or potential business owners. Each chapter follows a basic format consisting of a leader’s guide, (with goals and objectives, a narrative, handouts, and transparency masters). Also included with the curriculum are disk with Power Point presentations of the transparencies. The curriculum is intended to be used to be used in a variety of educational ways, including:
The curriculum is written at a basic or beginning business level. Information should be added or deleted as appropriate for the various audiences, and local resource people or consultants should be brought in to supplement needed expertise when necessary. Extension educators are encouraged to adapt the information to meet the needs of the clientele. National recognized Extension experts in the area of small business development wrote each chapter. This curriculum includes several different styles and formats that reflect the personal preferences and approaches of the various authors. The Ca$hing in on Business Opportunities curriculum was developed by the CSREES Home-Based and Micro-Business National Design Team as a part of the Communities in Economic Transition National Initiative. Below are chapter outlines for each of the 23 chapters. The 1,500-plus-page curriculum is available in a CD-ROM version (all chapters are in Adobe Acrobat format and include presentation files for each chapter) for $49.95. The price includes first class postage; an additional charge will apply for priority mail and international orders.
Contents
PREFACE: Manual for Developing Home-Based and Micro-Business Programming
(Ann Lastovica) Programming Suggestions Part I: Sharpen Your Entrepreneurial Skills Chapter 1: Assessing Self-Employment for Success (Ann Lastovica) Chapter 2: Spotting Opportunities among Scams (Dave Buchen and Beth Duncan) Chapter 3: Working and Living in the Same Space (Kathleen Parrott) Chapter 4: Developing Time-Management Tactics (Connie Kratzer) Chapter 5: Professionalism Pays (Patty Rai Smith) Part II: Get Down to Business Chapter 6: Writing a Business Plan (Beth Duncan) Chapter 7: Setting the Right Price (Beth Duncan) Chapter 8: Choosing the Best Business Structure (Carol Schwab) Chapter 9: Adhering to Regulatory Requirements (Jacqueline LaMuth) Chapter 10: Managing Inventory (Myrna Miller and Karen Biers) Chapter 11: Deciding on a Distribution Channel (Myrna Miller and Patty Rai Smith) Chapter 12: Selling Secrets (Pam Brown) Chapter 13: Gaining the Customer Satisfaction Edge (Carol Thayer) Part III: Plan as You Expand Chapter 14: Targeting New Markets (Greg Passewitz) Chapter 15: Keeping Tabs on Cash (Barbara Rowe and Mike Roberts) Chapter 16: Recruiting, Training, and Motivating Employees (Patty Rai Smith) Chapter 17: Employing the PC to Perform Work (Neil Vines) Chapter 18: Communicating Electronically (Neil Vines and Pam Brown) Chapter 19: Insuring against Catastrophes (Connie Kratzer) Part IV: Boost Your Bottom Line Chapter 20: Calculating Financial Ratios (Barbara Rowe and Holly Schrank) Chapter 21: Getting Your Just Deductions (Barbara Rowe and Zoel Daughtrey) Chapter 22: Searching for Capital (Barbara Rowe) Chapter 23: Electronic Retailing: Selling on the Internet (Beth Duncan) Assessing Self-Employment Skills for Success Instructor’s Guide This guide includes a basic text for teaching current and potential home-based and micro business owners how to evaluate their personal and business skills, experiences, and business interests (if they have not already made a decision about the type of business they want to start). Typically, this session is part of a larger educational program targeted to current and potential business owners. This curriculum can be adapted to meet audience needs and the time allotted for the presentation. The guide is developed for a one- to two-hour time period. Before presentation begins (if possible) distribute copies of Handout 2, "Do You Have What It Takes To Start a Home-Based or Micro Business?" Have participants complete it (if time allows) so they will be prepared to participate more fully in session. Additional option: Invite an individual or panel of home-based or micro business owners to speak to the participants. Before the session, give the business owner(s) Handout 1, "Suggested Questions for Home-Based or Micro Business Owners." These questions will serve as a guide to presenters as they develop their remarks. If an individual speaker or panel is included, the remainder of the program content will need to be adjusted to comply with time restrictions. Allow one hour for panel presentation and have a moderator ask the questions from the sheet. This will help keep the panelists "on track." Inform the panelists that they do not have to respond to all questions, only the ones that they have significant information to contribute. Throughout the text, [Transparencies] are indicated as well as [Worksheets/Handouts]. Goal: For current and potential business owners to identify their personal and business skills and types of business interests to prepare them for success in their home-based or micro businesses. Objectives: As a result of this program, participants will do the following: • Assess their entrepreneurial skills. Handouts Handout 1 — Suggested Questions for Home-Based or Micro Business
Panelists Miniature copies of transparencies with space for notes Additional Resources Ashmore, M. C., Fischer, L. M., Rippey, G., Southwick, T. W., Zlotnick, L. A., Douthitt, F. (1988). Risks & Rewards of Entrepreneurship (Manual and Teacher’s Resource Guide), St. Paul, MN: Changing Times Education Service, EMC Publishing. Brabec, Barbara (1997). Homemade Money (5th ed.). Cincinnati, OH: Betterway Books. Edwards, Paul & Sarah (1994). Working from Home: Everything You Need To Know about Living & Working under the Same Roof. New York: Putman Publishing Group. Edwards, Sarah & Paul (1996). Secrets of Self-Employment: Surviving & Thriving on the Ups & Downs at Being Your Own Boss. New York: Putman Publishing Group. Gray, D. A. (1993). Have You Got What It Takes? The Entrepreneur’s Complete Self- Assessment Guide (3rd ed.). Bellingham, WA: Self-Counsel Press. Spotting Opportunities Among Scams Instructor’s Guide This unit includes basic information for teaching entrepreneurs about business schemes, business scams, and fraudulent business opportunities. It is designed to be used in a one-hour session. A combination of lecture and hands-on approach is recommended. Internet access is recommended for use during the lecture and/or hands-on experience. Goal: To provide the background and basic information on business scams (a fraudulent business scheme, a swindle) and fraud related to small business opportunities. Objectives: As a result of this lesson, entrepreneurs will be able to: • Better understand about small business schemes and scams. Included with this curriculum are two case studies taken from the files of the Federal Trade Commission’s Chicago regional office. The names have been changed to protect the privacy of the individuals involved. Handouts Handout 1—Case Study #1 Miniature copies of transparencies with space for notes Additional Resources Council of Better Business Bureaus, Inc. Federal Trade Commission National Consumers League National Fraud Information Center United States Postal Service Note: The case studies contained in this chapter were taken from the files of the Federal Trade Commission’s Chicago regional office. The names have been changed to protect the privacy of the individuals involved. Working and Living in the Same Space Instructor’s Guide By definition, a home-based business takes up space in a home. Before the start of the business, the space was all family space. As the business develops, family and household space must be ceded to the business. In order for the business and the family to be successfully integrated into the home space, a plan is needed. This Instructor’s Guide outlines a workshop of about 45 to 60 minutes (one hour) on the topic of integrating the business into the home space. The focus is to prepare for and prevent potential conflicts. The expected audiences are new or future home-based entrepreneurs. Typically this workshop would be part of a larger educational program or series targeted to this audience. Goal: The goal of this session is for home-based business owners to be able to accommodate business needs in the home space while preventing family conflicts. Objectives: As a result of this program, participants will be able to do the following: • Identify the space needs of their home-based business, considering
the type of business and the activities conducted in the home. Materials Needed For the participant: This publication is available for $1.50 per copy from Extension Distribution Center, Landsdowne Street, Virginia Tech, Blacksburg, VA 24061-6192, 540/231-6192. Please contact the Distribution Center for information about quantity orders or for reproducing this publication in another state. For the instructor: Handouts Handout 1–"Bringing the Business into the Home: Space and Time Intrusion" (Note: this is the same as transparency #15.) Miniature copies of transparencies with space for notes Additional Resources Alexander, H. H. (1988). Analyzing interior spaces for a home-based business. (HE-FO- 3367). University of Minnesota: Minnesota Extension Service. Parrott, K., Lindsey, P. and Lastovica, A. (1993). "Can you live where you work...and work where you live?" American Home Economics Association Abstracts of Research 1993 Annual Meeting, 34. Parrott, K., Bach, A., and Lastovica, A. (1990). "Can you live where you work...and work where you live?" Choices, Challenges and Changes, National Home-Based Business Conference, Lincoln, NE. Parrott, K., Kean, R., & Niemeyer, S (1990). "Work at home: Conflict and compromise on the use of space." Housing and Society, 17 (3). 17-26. Developing Time-Management Tactics Instructor’s Guide This guide includes the basic text for teaching time management concepts. If the types of businesses are identified before the workshop, you can use related examples. How you use this curriculum will depend on the needs of your audience and the time allowed for presentation. It is developed for a 1-hour to 75-minute presentation. If less time is available, you can cut it by using the goal setting and scheduling sections alone. Throughout the text, suggestions for use of transparencies and handouts found in the appendices are noted on the left side of each page. Goal: The goal of this session is for current and potential business owners to develop skills in time management. Objectives: As a result of this session, participants will be able to do the following: • Identify how time is currently being used. Handouts Handout 1–Take the Time Quiz Miniaturized copies of transparencies with space for notes Additional Resources Barnes, Emilie. (1995). Creative Home Organizer. Eugene, Oregon: Harvest House Publishers. Barnes, Emilie. (1994). More Hours in My Day. Eugene, Oregon: Harvest House Publishers. Edwards, Paul & Sarah, (1994) Working from Home, Everything you Need to Know about Living and Working Under the Same Roof. New York, New York: G.P. Putnam Sons. Eisenberg, Ronni with Kelly, Kate (1986). Organize Yourself! Collier Books, Macmillan Publishing Company, New York. Johnson, Spencer, M.D. (1985). One Minute for Myself. New York: Avon Books. Lehmkuhl, D. & Lamping, D. (1993). Organizing for the Creative Person. New York, New York: Crown Publishers. Miller, L. & Burns, C. (1984). I Just Need More Time. Wichita Falls, Texas: Woman Time Management. Morgenstern, Julie. (1998). Organizing from the Inside Out. New York, New York: Henry Holt Publishers. Moskowitz, Robert. (1993). How To Organize Your Work & Your Life. New York, New York: Doubleday. Roesch, Roberta. (1996). The Working Woman’s Guide to Managing Time. Englewood Cliffs, NJ, Prentice Hall. Schofield, Deniece. (1984). Confessions of a Happily Organized Family. Cincinnati, Ohio: Writer’s Digest Books. Schofield, Deniece. (1994). Confessions of an Organized Homemaker. Cincinnati, Ohio: Betterway Books. Smith, Hyrum W. (1994). The 10 Natural Laws of Successful Time and Life Management. New York, New York: A Time Warner Company. Smith, Ken. (1992). It’s About Time. Wheaton, Illinois: Crossway Books. Tassi, Nina (1991). Urgency Addiction. Taylor New York, New York: Warner Books. Winston, Stephanie. (1983). The Organized Executive. New York, New York: W. W. Norton & Company. Professionalism Pays Instructor’s Guide It is difficult for any home-based business to succeed if its professional image isn’t comparable to that of competitors. The technological developments now make it possible for the home office to be as connected as any workplace, thus, the tremendous growth in numbers and types of home-based operations. Attitude of the business owner(s) was also found to be decisive. Home-based entrepreneurs now have the opportunity to be as competitive as they choose to be. Research indicates certain professional business practices signal the seriousness of the entrepreneur and predict gross income. Many of these practices are relatively inexpensive and easy to do. However, further studies indicated few home-based business owners were using these practices. This program can be disseminated through a seminar/workshop format or excerpts be used for newsletters, press releases, radio programs, and the like. Spinoffs from this presentation on professionalism could include topics such as business etiquette, choosing /designing print materials, and developing a good self-image. The entire text or portions of text can be used as a handout. Goal: To create an awareness among entrepreneurs of the importance a good professional image plays in the success of a home-based business and to inform them about practices that demonstrate professionalism. Objectives: In this session participants will do the following: • Learn about the correlation between professional business
practices and the financial success of a home-based business. Handouts Handout 1 — Business Management Practices That Indicate Success Miniature copies of transparencies with space for notes Writing a Business Plan Instructor’s Guide This unit includes the basic information for teaching entrepreneurs how to write a business plan. It is designed to be used in a 2-4 hour session depending on the size and background of the audience. A combination of lecture and hands-on approach is recommended. Participants should be given time to work on a basic outline of their business plans and report orally to the entire group. Participants who want to continue the development of their plans should be given a 2-4 week time to do so with follow-up and feedback from the instructor. Goal: Entrepreneurs will learn how to write business plans. Objectives: As a result of this session, • Entrepreneurs will learn the reasons for preparing a business
plan. Handouts Camera-ready copy of Instructor’s Guide Miniature copies of transparencies with space for notes This unit was adapted (with permission) by Beth Duncan from "A Guideline for Preparing a Business Plan" written by the Mississippi Department of Economic and Community Development, P.O. Box 849, Jackson, MS 39205 601-359-3593. Setting the Right Price Instructor’s Guide This unit includes basic information for teaching pricing to entrepreneurs. It is designed to be used in a 11/2 - 2 hour session depending on the size and background of the audience. A combination of lecture and hands-on approach is recommended. Participants should be given time to complete the worksheets during the session, with immediate feedback and discussion from the instructor. Goal: Entrepreneurs will learn how to determine the price to charge for a product and/or service. Objectives: As a result of this session, entrepreneurs will learn the following: • how to calculate total costs. Handouts Handout 1 — Overhead Expenses Exercise Camera-Ready copy of Instructor’s Guide Miniature copies of transparencies with space for notes Choosing the Best Business Structure Instructor’s Guide The following outline of the presentation, "Choosing the Legal Structure of Your Business," assumes that the presenter has detailed knowledge of the issues discussed. This information is not intended to educate the presenter. Also, each state may have different laws on these issues. A presentation on legal issues intended for a national curriculum must be, by necessity, a broad general outline. The presenter must know the laws in his or her state to make an effective presentation. An attorney is the most appropriate person to present this information, preferably an attorney who practices or teaches business law. A lay person who presents legal information, even in an educational setting, runs the risk of giving legal advice in response to questions from the audience. Giving legal advice is considered to be the practice of law. The practice of law is a highly regulated profession. Only someone licensed to practice law may do so. If an unlicensed person gives legal advice or performs legal services, he or she may be subject to criminal penalties, including fines and imprisonment. The only exception to this rule is when the person represents himself or herself in a legal matter. For example, it is legal for a lay person to incorporate his or her business, but it is illegal to help others incorporate their businesses. Whether the person charged a fee for his or her advice or services is irrelevant. Goal: Entrepreneurs will make informed decisions about the legal structure of their businesses. Objectives: This program is intended to do the following: • Raise the consciousness of home-based business owners about
the importance of choosing the legal structure of their businesses. Handouts Handout 1–Legal Structures Comparison Table Miniature copies of transparencies with space for notes Adhering to Regulatory Requirements Instructor’s Guide Goal: Entrepreneurs will become familiar with public policy issues that affect home based businesses. Objectives: As a result of this session, entrepreneurs will learn the following: • Local codes, regulations, and policies that affect local
home-based businesses. Handouts Handout 1 — Do Your Own Research on Local Laws, Regulations, and
Perceptions The Chapter 9 text Miniature copies of transparencies with space for notes Managing Inventory Instructor’s Guide This guide includes a basic text that can be used for teaching or as a handout to current and potential home-based/micro business owners. It will provide the entrepreneur with education, information, and resource lists on purchasing raw product or business supplies for their business. This curriculum can be adapted to meet audience needs and interests. The guide is developed for a 1 to 1-1/2 hour time period. Throughout the text transparencies are indicated. They are listed in appendices. Goal: For current or potential home-based business owners to identify wholesale sources for purchasing new products or business supplies that will help them prepare for success and profit in their businesses. Objectives: As a result of this program, participants will do the following: • Learn where they can purchase raw materials and business
supplies wholesale. Handouts Outline Miniaturized copies of transparencies with space for notes Deciding on a Distribution Channel Instructor’s Guide This guide includes a basic text for teaching current and potential home-based/micro business owners about different methods of distributing products and services, recognizing that many businesses will use multiple methods in their marketing plans. This session will coordinate with the other educational marketing programs. The curriculum can be adapted to meet the audience needs and time allotted. This program is developed for a two-hour period. Throughout the text, transparencies are indicated. A handout that includes additional resources and a glossary is also included. Goal: The goal of this session is for potential and current business owners to learn basic information about different distribution methods for marketing products and services and for them to obtain information to locate additional resources. Objectives: As a result of this program, participants will do the following: • Learn about different methods of distribution. Handouts Handout 1 — Distribution Methods for Marketing Products and Services camera-ready copy Miniature copies of transparencies with space for notes Selling Secrets Instructor’s Guide Goal: The goal of this chapter is to teach the would-be home-based or micro business owner or current owner how to develop or improve salesmanship skills. Sales, in any business, are key to the success of that business. This text is designed to be taught in a one-hour segment, unless role play scenarios are included to enhance the application of technique. Objectives: After studying this section on salesmanship, the participant will be able to do the following: • Define salesmanship and why it is important to the home-based
business owner. Handouts Handout 1–Ten Commandments of Creating Sales Miniature copies of transparencies with space for notes Additional Resources Alessandr, A.J.; Wexler, P.; Barrera, R., Alessandra, T. (1992). Nov.-Manipulative Sellin, New York: Prentice Hall Ass. Brabec, B. (1997). Homemade Money. 5th edition. Cincinnati, OH: Betterway Books. Evanson, D. R., Fisher, J., Griffin, C. E., Kanarek, L., Kennedy, D., McGarvey, R., & Weinstein, B. (1996). "10 best ways to...." Entrepreneur Magazine, (March), 102- 111. Graham, J. R. (1996). "How to become indispensable to customers." Supervision, (April), 17- 19. Pinson, L. & Jinnett, J. (1989). The Home Based Entrepreneur. Dover, NH: Upstart Publishing Co., Inc. Withy, J. J. & Panitz, E. (1995). "Face-to-face selling: Making it more effective." Industrial Marketing Management, 24 (Aug.), 239-246. Gaining the Customer Satisfaction Edge Instructor’s Guide This guide contains a basic text for teaching Customer Service and Satisfaction. It is designed to be taught in a two hour presentation allowing for a short break. If less time is available, shorten the section on the "listening" techniques, telephone techniques, or handling angry customers. If the participants are surveyed in advance, only those sections that address their specific needs should be included. Goal: Entrepreneurs will understand the role of excellent customer service in their business operations. Objectives: As a result of this session, participants will do the following: • Understand the relationship of customer service and customer
satisfaction. Handouts Handout 1–A Listening Test Miniature copies of transparencies with space for notes Additional Resources Barsky, Jonathon D. (1995). World Class Customer Service. Burr ridge, ILL: Irwin Professional Publishers. Cannie, Joan Koob. (1994). Turning Lost Customers into Gold—and The Art of Achieving Zero Defections. New York: AMACOM Carr, Clay. (1990). Front-Line Customer Service: 15 Keys to Customer Satisfaction. New York: Wiley. Donnelly, James H. (1992). Close to the Customer: 25 Management Types from the Other Side of the Counter. Homewood ILL: Business One Irwin. Gerson, Richard F. (1996). Great Customer Service for Your Small Business. Crisp Publications. Glen, Perter. (1992). It’s Not My Department! New York: William Morrow and Company. Liswood, Laura A. (1990). Serving Them Right: Innovative and Powerful Customer Retention Strategies. New York: Harper & Row. Mahfood, Phillip E. (1993). Customer Crises: Turning an Unhappy Customer into a Life- Long Client. Chicago ILL: Probus. Vavra, Terry G. (1995). After Marketing: How To Keep Customers for Life through Relationship Marketing. Homewood ILL: Business One Irwin. Targeting New Markets Instructor’s Guide This guide contains the basic text for teaching "Understanding Marketing." It is designed to be taught in two, two-hour presentations. One is on basic marketing and includes packaging; one is on advertising. It is recommended that the full two hours be given to these topics because of their importance to the success of the business venture. However, if less time is available, shorten the sections on packaging and advertising budget. It is suggested to survey the participants in advance to determine where the emphasis in the marketing and advertising sections should be placed. Throughout the text transparencies are indicated as well as exercises. In addition handouts at the end of the section may be used at the leader’s discretion. If handouts are used they should be discussed or reviewed with the program participants for best value. The handouts can be used as discussion points throughout the teaching of the marketing section. Additional references are listed at the end as well as marketing terms. Goal: The goal of this session is to provide the new business person or those just starting a business the basics of marketing and advertising. The session will create awareness and understanding of the basic principles of marketing by enabling the individual to understand that marketing is more than advertising or selling; the marketing process begins well before the product or service is developed. Objectives: The objectives of this section are for participants to do the following: • Understand the need of planning ahead for the marketing and
advertising of the business’s product or service. Handouts Handout 1 — How Marketing Helps Increase Sales Advance Sign Locations for Various Speed Zones Worksheet #1 Miniature copies of the transparencies with space for notes Keeping Tabs on Your Cash Instructor’s Guide The material contained in the following workbook, along with the accompanying presentation materials, is designed to assist home and small business owner-managers in setting up and maintaining a simple record keeping system to track the flow of income and inventory/ supplies through their enterprises. This program is designed to be delivered in a seminar/workshop format. Presentation of all the materials takes about 1 hour, depending upon the size and background of the audience. The workbook can be distributed as a stand-alone handout or in conjunction with other materials. Excerpts from the workbook can be used in newsletters and press releases. Goal: The goal of this session is to introduce the advantages of simple record keeping. Objectives: As a result of this program, participants will know the following: • The basic elements of a record keeping system. Handouts The entire text of this chapter may be used as a handout, either by itself or with other home business materials. Business Use of Your Home, Internal Revenue Service Publication No. 587 Depreciation, Internal Revenue Service Publication No. 534 You can order the tax forms and publications needed for this lesson by calling 1-800-829-3676. Some public libraries keep reproducible copies of tax forms for copying as well. Miniature copies of transparencies with space for notes Recruiting, Training, and Motivating Employees Instructor’s Guide Experience indicates 68 percent of customers who do not return to a business do so because of the indifferent attitude of an employee. The personnel a customer encounters in any retail or service establishment can form more lasting impressions than the merchandise itself, the price, or any other part of the business image. Service driven businesses whose employees show special concern for their customers will enjoy an edge over their competitors. If the product is superb but there is a breakdown in service, the business will suffer! How employees feel about their jobs will directly influence how they deal with your customers. They tend to treat customers as they have been treated by their employers. The way you manage your employees is crucial to your business. This program can be disseminated through a seminar/workshop format or excerpts can be used for newsletters, press releases, or radio programs. The entire text or portions of text can be used as a handout. Charts can be used as handouts or as background for teaching. Case Studies can be part of a handout or as background for teaching. Overhead Transparencies Masters are to be used for teaching. Goal: To give entrepreneurs a plan for securing and maintaining employees who are assets to their businesses and are satisfied in their jobs. Objectives: As a result of this session, entrepreneurs will do the following: • Understand the importance of securing and maintaining informed
and satisfied employees as a key to satisfied customers. Handouts Handout 1 — Recruiting, Training and Motivating Employees Additional Resources Employees: How To Find and Pay Them. Small Business Administration Publication 2/5.002 Setting Up a Pay System. Small Business Administration Publication 5.006 Employing the PC To Perform Work Instructor’s Guide Goal: The goal of this lesson is to acquaint participants with basic computer components and terminology, to assist them in determining the suitability of computer applications for their businesses, and to establish general criteria for identifying the most beneficial computer applications to the businesses. Objectives: Hardware-Identify the various components of a personal computer system and understand their relationship to the overall performance of the system. Software-Understand the various types of computer applications and their relationship to managing the business. Handout: Miniature copies of transparencies with space for notes. Communicating Electronically Instructor’s Guide Goal: The goal of this lesson is to acquaint participants with computer communications using electronic mail and the World Wide Web. Objectives: The objectives of this section are for participants to do the following: • Understand the basics of computer communication —
the concepts and functions of the Internet. Handouts Handout 1–World Wide Web for Virginia Cooperative Extension Miniature copies of transparencies with space for notes Insuring Against Catastrophes Instructor’s Guide This guide includes the basic text for teaching risk management concepts. If the types of businesses are identified before the workshop, you can use related examples. How you use this curriculum depends on the needs of your audience and the time allowed for presentation. It is developed to be presented in 45 minutes to one hour. The liability section can be used alone in a workshop setting (one hour) or as a presentation (20-30 minutes). Throughout the text, suggestions for use of transparencies and handouts that are in the appendices are on the left side of the page. Nine case studies are included for you to select ones that are relevant to the participants in your workshop. Insurance regulations may differ among states; a good source of generic information is the Bureau of Insurance in each state. You also may want to invite an insurance broker or a business person who has experienced insurance claims to come in as a resource person. A list of additional resources also is included. Goal: The goal of this session is for business owners to assess risks and develop strategies to manage those risks. Objectives: On completion of this unit participants will be able to do the following: • Recognize the importance of risk management for their businesses Handouts Handout 1–Liability Insurance Needs for the Home-Based or Micro
Business Miniature copies of transparencies with space for notes Additional Resources Bobannon, D. (1995, March). "Do Small-Business Owners Need Life Insurance?" Crafting for Profit, 7. Edwards, Paul & Sarah, (1994) Working from Home, Everything You Need to Know about Living and Working Under the Same Roof. New York, New York: GP Putnam Sons. Eyler, David R. (1990). Starting and Operating a Home-Based Business. New York: John Wiley & Sons, p. 195-208. Gessaman, Paul H. (1996). Setting Up Your Own Business: Planning Your Insurance Coverage. Cooperative Extension, University of Nebraska-Lincoln, NF 96-277. Lickson, Charles & Lickson, Bryane. (1997). Finance and Taxes fo rthe Home-Based Business. Crisp Publications, Inc. Menlo Park. McCaslin, Barbara S., & McNamara, Patricia P. (1980). Be Your Own Boss. A Woman’s Guide to Planning and Running Her Business. Englewood Cliffs, NJ: Prentice Hall, Inc., p. 351. Owen, J. W. (1989, July 1). Datamation. Management Personnel, p. 63. Leech, I. E. & Kratzer, C. Y. (1992). Insurance Issues for the Home-Based Business, Video 25 minutes. Available from The Department of Near Environments. To order send a $10 check or money order made out to Virginia Tech, Treasurer, 101 Wallace Hall, Virginia Tech, Blacksburg, VA 24061-0424. Calculating Financial Ratios Instructor’s Guide The material contained in the following lesson, along with the accompanying presentation materials, is designed to assist the home-based or small business owner in understanding the enterprise’s financial statements. By regularly collecting and analyzing financial statement information, the owner/manager can detect any problems and make necessary budget revisions before small problems become large ones. This information also helps potential lenders make decisions on extending credit to the enterprise. This program is designed to be delivered in a seminar/workshop format. Presentation of the materials takes at least 1-1/2 hours, to allow participants plenty of time to work through the examples. Encourage participants to bring calculators to class. Examples of a balance sheet and income statement for a fictitious company to use in calculating relevant ratios are included in the appendix. Goal: The goal of this session is to introduce the home-based and micro business owner-manager to ratio analysis. Objectives: As a result of this program, participants will do the following: • Know about a few key ratios used for industry-wide
comparisons. Handouts Handout 1–Calculating Financial Ratios Miniature copies of transparencies with space for notes Additional Resources NCR Publication 555, Rural Retailers: Financial Profile of High-Profit, Medium Profit and Low-Profit Firms. Michigan State University, Extension Bulletin Office, 10B Agriculture Hall, East Lansing, MI 48824-1039. Phone 517-355-0240. Getting Your Just Deductions Instructor’s Guide The material contained in the following chapter is designed to assist the home-based or small business owner with general information about business taxes. Even if the business’s taxes are handled by a professional preparer, the information contained in this chapter should be useful in helping the home-based and micro business owner-manager in assembling his or her records for the preparer. The information contained in this publication is based on the tax law as of October 1999. References to IRS forms and tax rates are derived from revised 1996 forms, and some adaptation for changes may be necessary in the future. A C.P.A., an attorney who specializes in tax law, or an enrolled agent is the most appropriate person to present this information. A lay person who presents legal information, even in an educational setting, runs the risk of giving legal advice in response to questions from the audience. Only a licensed professional can do so without incurring significant penalties. This program is designed to be delivered in a seminar/workshop format. Presentation of the materials takes at least 1-1/2 to 2 hours. Goal: To introduce the micro/home business owner-manager to relevant income tax regulations. Objectives: The objectives of this chapter include the following: • To walk the micro/home business owner-manager through the process
of completing Schedule C. Handouts Handout 1–Schedule C IRS Publication: # 587 -Business Use of Your Home How To Get IRS Forms and Publications: You can order the tax forms and publications mentioned in this workbook from the IRS Forms Distribution Center for your state at the address below or by calling the "Forms Only" number, 1-800-829-3676. Some public libraries keep reproducible copies of tax forms for copying as well. If you are located in Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, Oregon, Utah, Washington, Wyoming: send your request to Western Area Distribution Center/ Rancho Cordova, CA 95743-0001. If you are located in Alabama, Arkansas, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisana, Michigan, Minnesota, Mississippi, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Wisconsin: send your request to Central Area Distribution Center/ P.O. Box 8903/ Bloomington IL 61702-8903. If you are located in Connecticut, Delaware, District of Columbia, Florida, Georgia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, West Virginia: send your request to Eastern Area Distribution Center/ PO Box 85074/ Richmond, VA 23261-5074. Searching for Capital Instructor’s Guide The material contained in the following lesson, along with the accompanying presentation materials, is designed to assist the home-based or small business owner in acquiring outside capital for his or her growing enterprise. This program is designed to be delivered in a seminar/workshop format. It is recommended the material be presented in two one-hour sessions, to allow participants plenty of time to work through the material and to ask questions. In the second session they could also begin preparing their own loan packages. The instructor needs to have examples of a balance sheet and income statement available to the participants so they know what potential lenders will be asking from them. Goal: The goal of this chapter is to introduce home-based and micro business owners to some of the ways of acquiring outside capital. Objectives: These are the objectives of this chapter: • To acquaint the home and micro business owner-manager with
some sources of outside capital. Handouts Handout 1–Money Needs for the First Three Months Miniature copies of transparencies with space for notes Electronic Retailing: Selling on the Internet Instructor's Guide
Goal: Entrepreneurs will learn how to sell their
products and services electronically through a Objectives: As a result of this session, entrepreneurs
will learn the following: Handouts Additional Resources All Things Web Be Like Amazon Be Like Bezos BizReport Build Traffic with Incentives Business To E-Commerce: Selling on the Internet Business 2.0 Choosing a Domain Name Closing the Digital Divide CyberAtlas Datamonitor Designing Web Usability: The Practice of Simplicity Digital Economy 2000 Driving Repeat Sales with Loyalty E-mail E-business Advisor E-Commerce Alert E-Commerce, How It Works E-Commerce Times Electronic Commerce Guide Electronic Commerce World Emmerce Establishing a Merchant Account for Your Web Business Fast Company Forrester Generating Sales from Search Engines Getting Started Selling Online Guide to Electronic Commerce How to Sell Online Internet Economy Indicators InterNIC Listing Your E-Store on Search Engines Planning for the Perfect Online Store Questions & Answers About E-Commerce Basics Security Concerns Selling on the Internet: How to Get Started and How Much
Does it Cost? Setting Up Shop in Cyberspace SME Worldwide Strategies for Selling Online Study: Top Customer Service Drives E-Commerce Sales The ABC's of E-Commerce The Seven Deadly Sins of E-Commerce United States Department of Commerce E-Commerce Site Zcommerce |
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