Plan for Profit is WBDC’s most comprehensive training program for people learning to work on their business whether they are startup or emerging businesses. Comprised of 2 courses of 11, 2.5-hour sessions each, the program takes you through a hands-on approach to drafting your business plan. Once a week, the Thursday sessions focuses on a critical aspect of business development, shows you the ropes and then allows time for you to draft that part. To strengthen your skills, you get feedback from each other on what you have researched and developed. The other night a week is even more hands on applications, with advisors present and new decision making tools and resource people to help you deepen your planning. At the end of the second course, a certificate is awarded upon completion of the program and a solid business plan.
Course 1: Accelerate Your Business bolts you into your business concept through writing the first draft of your executive summary and facilitates your relationships with others in the program. You learn how to determine market needs at the industry level, determine your target market and build a company overview. You’ll look at revenue models, your value proposition, start planning your expenses and sales forecasts. In a couple sessions, you briefly pitch your peers on the above to begin to prepare you for conversations about your business and to be ready for the next part of Plan for Profit business development. You’ll be prepared to launch!
Prerequisites: You must have taken
- The WBDC in-person workshop, Starting a Business in IL workshop
- Business Financials 101 Online On-Demand Webinar
- be committed to only one business idea that you plan to develop
- Send a copy of your business concept and the way it will make money to our Director of Entrepreneurial Services.
- Make an appointment with her. She will help you assess your readiness for this rigorous program.
Course 2: Advanced Plan for Profit Here, you write about your competition and your company’s strengths and weaknesses in relationship to them. You also will learn how to develop digital marketing strategies, how to engage clients thru online marketing and the costs and timing of marketing exposures. You’ll also plan operations including location, vendors, payment options. You’ll learn accounting terms, figure out your pricing, and prepare sales estimates and financial statements. You’ll learn to pitch numbers, estimate sales and describe management. Once again you will do presentations. Guest subject matter experts will support building your business acumen. Finally, you will deliver a 5 minute presentation to bankers, your WBDC advisors, and your peers to support your efforts in articulating your business plan to others. You will be able to put together your complete business plan as your strategic plan and potentially use it to convince others to invest in you!
Prerequisite: Plan for Profit course one, or previous P4P module 1 participation must be completed before taking Course 2.
When: All sessions are from 6:00-8:30 p.m.