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Veteran-Owned Business Expansion

Veteran Owned Business Expansion is a program created to assist Veteran small business owners in identifying when they are ready to expand and drive their business to the next level. Various approaches to growth will be identified and analyzed, including: new revenue streams, entering new market segments, expanding the customer base, expanding the team, acquiring new technology/equipment, adding strategic partners, new or additional locations, and mergers and acquisitions.

Through this program, Veteran business owners will work on putting together their path toward controlled-risk growth as they evaluate and develop their metrics, benchmarks, teams, financials, and strategies to reach the next level of growth. At the completion of the program, eligible participants may apply for a County of Riverside grant of $2,500.

Module 1: Intelligent Planning

Every business faces a series of challenges on its path to growth. This module covers a variety of successful approaches to growth and outlines the key elements of business planning that predict success.

Key topics covered include:

  • Are you ready to grow?
  • What does growth mean to you?
  • What are the key drivers of growth in your business?
  • How to build a strategic plan that matches your vision
  • How to conduct market research to validate your vision
  • How to establish KPIs to ensure you achieve your vision

Module 2: Financial Management

In this module, you will understand your numbers through your P&L and build your financial projections to support your growth plan. This class will teach you how to accurately project growth, model it, and stress test it to make sure capital will work effectively with your growth plan.

Key topics covered include:

  • A discussion of ideas for improving your cash position
  • Evaluating your expenses
  • Optimizing your pricing
  • Conducting reliable financial forecasting and more

Module 3: Understanding Customers

There is only one boss: CUSTOMERS! Growth in your business is all about attracting new customers and/or expanding what your existing customers are buying from you. Before tackling sales and marketing strategies and activities, it is key to understand your customers, both current and potential, to properly target your growth efforts.

Key topics covered include:

  • Identifying your target audience
  • Understanding their pain points and what they care about
  • Honing your niche to drive future growth

Module 4: Sales & Marketing

All businesses engage in sales & marketing activities, but few tie all the elements together into a cohesive strategy that adequately addresses all the steps in the Customer Lifecycle.

Key topics covered include:

  • Evaluating where you are today
  • Identifying areas of opportunity and gaps within your Customer Lifecycle
  • Developing a roadmap for sales & marketing that will better position your business for solid growth

Module 5: Optimizing Operations

Operations covers the entire infrastructure, equipment, processes and procedures that enable you to produce and deliver your product or service in a way that lets you run a successful business. These areas of your business often provide a competitive advantage and determine your profitability.

Key topics covered include:

  • How to assess and tighten up your operations
  • How to become more efficient, more productive, and more careful with all your resources (money, time, staff)
  • Key issues in managing people

Module 6: Managing People

With growth comes optimizing and expanding your staff. Understanding human capital needs based on your growth plan is critical to achieving your goals.

Key topics covered include:

  • Understanding your current team
  • Identify missing talent
  • Develop an organizational chart that supports your growth plan
  • Understand staffing options to minimize expense and risk
  • How to drive a high-performing team through strong culture, leadership, training and management

Date

Sep 14 2023
Expired!

Time

3:00 pm - 5:00 pm

More Info

Register Here

Location

Webinar
Category

Organizer

Orange County Inland Empire SBDC
Register Here

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