Starting and Growing My Business

This self-reliance group will help you learn to make wise business decisions as you start or grow a business. The goal of this group is not only to help you with your business; it is also to help you act in greater obedience and faith in the Lord and receive His promised blessings of temporal and spiritual self-reliance. Members learn key business skills such as identifying customer needs, finding customers, and keeping good business records.

Link to Manuals, Materials and Videos

Connect to Additional Resources

Below you will find additional church, community and other local resources to help you with your journey in starting and growing your small business. Each section corresponds to a section in the Starting and Growing My Business manual you are studying.

Week 1- My Readiness For Business Success: Setting Up A New Business
- Select Your Business Structure
- Setting Up A Business in the State of Utah
- Establishing Your Business With The Federal Government
- Networking
- Events, Workshops and Trainings
- Online Resources
- Recommended Reads

Week 2 - Solving Unmet Customer Needs: What Do Customers Want?
- Data Resources
- Product Prototyping and Testing
- Competitive Analysis
- Events, Workshops and Trainings
- Online Resources

Week 3 - Ensuring That I Have A Profitable Business: Revenue To Profits
- Events, Workshops and Trainings
- Online Resources
- Recommended Reads

Week 4 - Finding Customers: Where Are Your Customers?
- Managing Customer Relationships
- Events, Workshops and Trainings
- Online Resources

Week 5 - Keeping Customers: Better To Keep Than To Find
- Events, Workshops and Trainings
- Online Resources
- Recommended Reads

Week 6 - Managing the Profitability of My Business: Know Your Money
- Accounting Software
- Accountants
- Events, Workshops and Trainings
- Online Resources

Week 7 - Keeping Separate My Business and Personal Money: You Won't Survive If You Don't Pay Yourself
- Events, Workshops and Trainings
- Online Resources
- Recommended Reads

Week 8 - Managing the Cash Flow of My Business: Cash Is King
- Open A Business Bank Account
- Get Help From Professionals
- Reviewing Financial Statements
- Events, Workshops and Trainings
- Online Resources

Week 9 - Growing My Business: How Will You Grow Your Business?
-
Marketing Strategies
- Using Technology To Expand Your Business
- Events, Workshops and Trainings
- Online Resources
- Recommended Reads

Week 10 - Financing My Business: Preparing For Expansion
- Creating A Business Plan
- Funding Sources
- Events, Workshops and Trainings
- Online Resources
- Recommended Reads

Week 11 - Continually Improving My Business: Growth And Improvement
- Taking on Employees and Payroll
- Developing A Vision For Your Business
- Creating An Effective Business Presentation
- Events, Workshops and Trainings
- Online Resources
- Recommended Reads

Week 12 - Presenting My Business: Pitch Perfect
- Events, Workshops and Trainings
- Recommended Reads

My Readiness For Business Success

SETTING UP A NEW BUSINESS

"Successful business owners are observant, curious, and eager to learn new ideas every day. They recognize that their business opportunity is a work in progress. They understand that they will have to make many refinements to their business simply to have a successful start.

One of the essential elements to starting a business is to understand how to establish the legal entity within the State of Utah and with the federal government. The information below provides resources to help you get a successful start." - pg. 10

Commitment Assistance

May assist you with your commitments on pg. 18, My Commitments C, D & E. Discuss your findings with your business partners, mentor, family or action partner.

Selecting Your business Structure

What type of business entity do you need to establish to best meet your business needs? Sole Proprietor, LLC, S Corp, non-profit, etc.? You will want to do some research, speak to a business mentor in your area, and consult with a CPA or attorney to discuss the right fit. Below are several articles that will help you understand some of the more common business entity options:
Choose a business structure - SBA.gov
Business Structure Types - IRS.gov

Setting up a Business in the State of Utah

The following are helpful resources when seeking to set up a business entity in the State of Utah.

Utah.gov - sponsored by the State of Utah. Great starting point for direction and links to more resources including assessing a business idea, regulations, assistance and funding.
Utah.gov business services portal - register, renew, update a business and more.
Doing Business In Utah - PDF guide from Utah.gov
Utah Business Entity Search - online registration for a business entity. Quickly search business names in Utah and see if they are available.
Utah business tax information - tax information and links.

Establishing Your business with the Federal Government

The following are helpful resources to establish a business entity with the federal government.

Small Business Administration - Great starting point to guide you through starting a new business with links to a wide range of resources. Includes step-by-step business startup guide. The SBA is one of the most common options of funding for a small businesses.
Register Your Business - online guide
Employer Identification Number (EIN) - An EIN is required for many business needs such as a bank account, registering for services, taxes, payroll, etc.

NETWORKING

Local Business Networking Organizations:
Utah Startup Connectory - A list of all the entrepreneur groups, associations, incubators, meetups across the Utah entrepreneur ecosystem.
Corporate Alliance - business-to-business networking group that focuses on experiences for business owners and executives, network, and connect with individuals and professionals.
Business Network International - Local chapters provide a referral network. Visitors welcome.
1 Million Cups - Simple way to engage with entrepreneurs. Each week, the 1MC program offers two local entrepreneurs an opportunity to present their startups to a diverse audience of mentors, advisors, and entrepreneurs.
Women's Business Development Center - nonprofit organization that helps Utah women build confidence, create opportunities, and experience success in business ownership.
Silicon Slopes - tech industry organization regularly holds events for the tech industry in Utah.
Women Tech Council - national organization focused on the economic impact of women in driving high growth for the technology sector.
Entrepreneur Starting Point - Meetup.com group for free flow of ideas to support new and early stage entrepreneurs. Share practical wisdom, experience, and resources. Learn to enjoy the process of helping each other.

EVENTS, WORKSHOPS AnD Training

Events
Check the business events calendar.

Workshops
Available from the Orem Small Business Development Center:
Start Smart - (taught monthly) Entrepreneurial success begins with this short course on how to start a business. You will discuss business entry strategies, business planning, legal and regulatory requirements, forms of business ownership, sources of business financing, sources of business assistance and more.
SCORE Workshop I - Get Started Workshop - (part of 6 session series – Tuesday nights) In this workshop you will learn how to evaluate your business concept. You'll do this by reviewing a feasibility plan draft of a sample business. You'll also research your industry profile data, customer data, financial projections, and other information.

Advisors and Mentors
Ask someone in your ward or stake with business experience to mentor you.
Meet with SBDC business advisor (by appointment)

Recommended Reads

Books recommended by other business owners:
“Art of the Start”
by Guy Kawasaki

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

WHAT DO CUSTOMERS WANT?

"Successful business owners seek to understand and meet the unmet needs of customers. Understanding customer needs is an ongoing journey that requires significant effort, time, and persistence. Your customers’ needs will change over time, so you will continually need to adapt your business to meet them. This is true whether you are considering a new business opportunity or managing an existing business." - pg. 26

COMMITMENT ASSISTANCE

May assist you with your commitments on pg. 35, My Commitments C & E. Discuss your findings with your business partners, mentor, family or action partner.

DATA Resources

Consumer Data Catalog - Datasets.gov
Consumer Research and Data - National Retailers Federation
Where Can You Buy Big Data? Here Are The Biggest Consumer Data Brokers - Forbes.com

Contact trade or industry associations who may have data sources.

Product PRototyping and Testing

Prototyping
ProVolt - Maker space in Provo. Most services are free. Build a product prototype with a 3-D printer, laser, lathe, raspberry Pi, circuit board etching, etc.
Tuesday and Thursday evenings 6:00 to 10:00 pm.
52 W 500 S #26, Provo, UT

Product Testing
32 Product Testing Opportunities
- Well Kept Wallet.com
Test Marketing in New Product Development - Harvard Business Review

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Workshops
Available from the Orem Small Business Development Center:
Grow Your Business: Phase I(taught monthly at the Orem SBDC) Wondering if your product or service is a good idea? Phase I Validation takes you through a step-by-step process to validate whether your idea is a good idea and in line with the needs of the market before you spend a dime on development. Designed to help entrepreneurs avoid many of the common pitfalls when developing a product or service.
Business Essentials (taught monthly at the Orem SBDC) This two-hour course covers the 7 hats you wear as a business owner and what you need to focus on within each one.
SCORE Workshop II - In this workshop, you will learn how to do competitive market research, creating a product and services description, developing a pricing strategy, identifying your target markets and channels, outlining a marketing message and learning sales basics. (part of 6 session series – Tuesday nights)

Online Course
How To Create A Business Plan - Udemy.com ($)

Online Resources

Inventing & Innovation - SBDCNet.org, host of online articles and links addressing inventing, patents, copyright and trademarks.
The 30 Things Customers Really Value
- Harvard Business Reveiw
10 Studies That Reveal What Customers WANT You To Know About Them - Kissmetrics.com

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

revenue to Profits

"It’s not enough to know only the gross profit and net profit your business is making. To know if your business is succeeding, you also need to know the profit margin." -pg. 51

Commitment Assistance

May assist you with your commitments on pg. 59, My Commitments B, C, D & E. Discuss your findings with your business partners, mentor, family or action partner.

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Workshops
Available from the Orem Small Business Development Center:
Business by the Numbers - (2-day class – $)
Accounting Clinic - (taught monthly at the Orem SBDC) Get accounting or budget related advice for current or future business. This clinic is a one-to-one meeting with CPA.
Tax Planning Clinic - (available monthly Orem SBDC) Come to learn your numbers as a business owner, how to find them, know what they are telling you, and do smart tax planning.
QuickBooks Workshop - (available monthly Orem SBDC) Come with prepared questions about QuickBooks- which version to purchase, how to enter specific types of transactions, how to customize reports, issues that you may need help troubleshooting, etc. This is not a formal class, but a workshop. You will receive one-on-one QuickBooks help.
SCORE Workshop III - In this workshop you'll learn about the importance of financial planning, how to build your financial model, how to understand financial statements, including an income statement, cash flow statement, and balance sheet.

Advisors and Mentors
Ask someone in your ward or stake with business experience to mentor you.
Meet with SBDC business advisor (free -- by appointment Orem SBDC)

Recommended Reads

The books recommended by other business owners:
“How to Lower Your Taxes – Big Time” by Sandy Botkin

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

Where are your customers?

"Customers must be the focus of your business. Their experience with your business will largely determine how well it does. Center all aspects of your business on meeting their needs. You want them to be enthusiastic about the experiences they have with your business." - pg. 70

Commitment Assistance

May assist you with your commitments on pg. 59, My Commitments B, C, D & E. Discuss your findings with your business partners, mentor, family or action partner.

Managing Customer Relationships

Tracking, managing and following up with customers is critical. As you customer database grows, you will want to consider using a customer relations management system (CRM).
Best CRM Software 2018 - PC Magazine
Best Free CRM Software - Capterra.com

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Workshops
Available from the Orem Small Business Development Center:
Grow Your Business: Phase II - (taught monthly at the Orem SBDC) Tired of writing lengthy business plans? So are we! Phase II is designed to help entrepreneurs identify the nine key components of their business and how they all work together to create a solid operational foundation. This class will help you address your market, understand what is required to make your business function, and develop financial models to ensure sustainability.
Business Essentials - (taught monthly at the Orem SBDC) This two-hour course covers the 7 hats you wear as a business owner and what you need to focus on within each one.
Market Research Project (by appointment)
Entrepreneur Launch Pad - (weekly group sessions – 2 hours) You begin each week learning about business programs that will help start a business or those that have launched their business. Attend and learn about either an aspect of the business model canvas or business leadership, marketing, accounting and management.
Marketing Trainings (taught by marketing professionals monthly)

Online Resources

Marketing Research Links - SBDCNet.org, covering a range of industries.
Small Business Marketing Tips - SBDCNet.org, marketing plans, branding, statistics, law, and pricing.
7 Excellent Ways to Attract Customers
- American Express Forum
Marketing Plan Basics
- SBA.gov
How to Create a Business Plan - Udemy.com (online course $)

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

Better to keep than To find

"Once you have customers, you need to work hard to keep them loyal to your business. You can build loyalty by engaging your customers, listening to them, and creating positive experiences for them. Finding new customers can cost your business far more than what it costs to keep current ones." - pg. 86

Commitment Assistance

May assist you with your commitments on pg. 93, My Commitments B, C, D & E. Discuss your findings with your business partners, mentor, family or action partner.

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Workshops
Available from the Orem Small Business Development Center:
Business Essentials - (taught monthly at the Orem SBDC) This two-hour course covers the 7 hats you wear as a business owner and what you need to focus on within each one.

Advisors and Mentors
Ask someone in your ward or stake with business experience to mentor you.
Meet with SBDC business advisor (free -- by appointment)

Recommended REads

The books listed have been recommended by other business owners:
“The E-Myth Revisited” by Michael Gerber
“Checklist Manifesto” by Atul Gawande

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

Know Your Money

"Successful business owners are well organized and keep track of their financial details. For your business to succeed, it’s essential that you keep good financial records. Without good records, how will you know if your business is profitable? How will you know if you’ve been paid by all of your customers? How will you know your total expenses?" - pg. 102

COMMITMENT ASSISTANCE

May assist you with your commitments on pg. 114, My Commitments A, B, C, D & E. Discuss your findings with your business partners, mentor, family or action partner.

Accounting Software

"Most owners will progress to more advanced record-keeping tools, such as digital applications (apps) and software packages, as their businesses grow." - pg. 111, Starting and Growing My Business

Small Business Accounting Software
Below are reference articles on small business accounting software packages. Different accounting packages have areas of strength depending on your business needs. You will want to do a bit of research before jumping into a solution. Ask other business owners in your industry what they find meets their needs. Consider choosing a software solution that will scale with your business as you grow, manage your payroll and manage your tax obligations.
Best Small Business Accounting Software 2018 - Business New Daily
The Best Small Business Accounting Software of 2018 - PC Magazine
Best Small Business Accounting Software- The Balance Small Business

Accountants

"Some owners also hire accountants to manage their finances." - pg. 112

Getting recommendations from other business owners may be the best way to find an accountant to meet your needs. Below are other online resources to find an accountant:
Find A CPA - Utah Association of Certified Public Accountants
Utah County Certified Public Accountants - Yellowbook.com
Accountants Versus Bookkeepers — What You Should Know - SCORE.org

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Workshops
Available from the Orem Small Business Development Center:
SCORE Workshop III Business Essentials - (taught monthly at the Orem SBDC) In this workshop you'll learn about the importance of financial planning, how to build your financial model, how to understand financial statements, including an income statement, cash flow statement, and balance sheet.

Advisors and Mentors
Ask someone in your ward or stake with accounting experience to help you.
Meet with SBDC business advisor (free -- by appointment)

Online Articles

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

You Won't survive if you don't pay yourself

"As your business begins to earn money, you need to decide how to pay yourself. Many business owners start by paying themselves a small salary, which can increase as the business grows and becomes financially stable." - pg. 124

COMMITMENT ASSISTANCE

May assist you with your commitments on pg. 134, My Commitments A, B, C, D & E. Discuss your findings with your business partners, mentor, family and action partner.

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Advisors or Mentors
How to start a business in Utah handout at SBDC
Meet with SBDC business advisor (free -- by appointment)

REcommended Read

The books recommended by other business owners:
“How to Lower Your Taxes – Big Time” by Sandy Botkin

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

Cash IS KING

"It’s not enough to periodically check your business bank account and hope that the numbers work out. You need to actively manage the cash flow of your business." - pg. 152

COMMITMENT ASSISTANCE

May assist you with commitments on pg. 155, My Commitments A, B, C, D & E. Discuss your findings with your business partners, mentor, family and action partner.

You have learned key principles to the importance of managing your business cash flows. You may find the following helpful as you continue to improve your business cash flow management:

Open A Business Bank Account

Open a bank account exclusively for your business entity.
• Contact your bank beforehand to determine what documents you will need to provide the bank to open a business account.
• You will need your Federal EIN to open a business account (see resources under the first section of this page.

A few benefits:
• Manage the money for your business separately.
• Link your business bank account to your accounting software to take advantage of business processes.
• Quickly and easily reconcile business cash flow activity.
• Easily and accurately manage accounting for tax purposes.

Keeping It Professional: 3 Reasons Why You Need a Business Bank Account - Freshbooks.com

GET HELP FROM Accounting PROFESSIONALS

If you have good practices in accounting and managing your business cash flow, you will have greater chance for success. You need to know at a glance where every dollar is going and what the monthly income is.

It is highly recommended to hire a professional accountant, preferably a CPA, to provide guidance and assistance in setting up your accounting, establishing good financial processes and practices, and for proper tax reporting. A bookkeeper can be hired to manage basic accounting tasks like payroll, invoicing and receivables.

Find A CPA - Utah Association of Certified Public Accountants

Reviewing financial statments

Taking the time to review your business finances monthly is critical to business management. Most accounting software can produce a wide range of business reports. If you are using an accountant, you should be receiving financial statements monthly. Reviewing the statements quickly will allow you to react and make changes to your business more rapidly.

Income Statement - Often referred to as a Profit and Loss Statement (P&L), will show you that profitability of your business (revenue - expense = net profit). Your revenues and expense should be broken down into categories to help you better analyze your business activity. These categories are broken down in your accounting software as your chart of accounts. As you establish your accounting, take the time to understand your chart of accounts and get assistance creating them.

Balance Sheet - This report will show you a summary of you the things you own, your assets, including cash in the bank, inventory, and receivables. It will also show you what you owe, your liabilities, including bank debt, accounts payable and tax payable. The third area represented on your balance sheet is the net worth or book value of your business.

Cash Flow Statement - As taught in your group, understanding your cash flow statement is essential to managing the in and out flow of your money. It looks at a snapshot of three key business cash elements: operations, investments and financing. Take the time to continue to learn how to read your cash flow statement and make wise business decisions.

Track Your Cash Flow Weekly - SCORE.org
Financial Projections Template - SCORE.org

EVENTS, WORKSHOPS AND TRAINING

Check the business events calendar.

Workshops
From the Orem Small Business Development Center:
Business Essentials (taught monthly at the Orem SBDC)
Business by the Numbers (2-day training – fee)
SCORE - Financial Projections

Advisor or Mentor
Ask someone in your ward or stake with business experience to mentor you.
Meet with SBDC business advisor (free -- by appointment)

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

How Will you Grow Your Business?

"If you want to grow your business, you need to actively look for potential growth opportunities. Successful business owners learn by taking action (see D&C 58:26–28). They exercise wisdom when considering new opportunities to expand their business by carefully evaluating additional resources and potential challenges." - pg. 168

COMMITMENT ASSISTANCE

May assist you with commitments on pg. 172, My Commitments B, C, D & E. Discuss your findings with your business partners, family and action partner.

Marketing Strategies

Developing a marketing strategy that cost effectively and efficiently drives customers to your business is essential. Selecting the right strategy is challenging and a wrong strategy can cost you a significant amount of your precious cash reserves. It will be important to get help in considering the best marketing methods and testing those methods to ensure a return on your dollars spent.

A marketing firm may be a good choice to guide your strategy. Utah has many good marketing firms. In general, firms tend to have areas of strength and particular types of industries they specialize in. Ask for client examples and successes.

Wasatch Front marketing firms
52 Types of Marketing Strategies - Cultbranding.com, article briefly defines 52 different ways to market your product or service.
When Marketing Is Strategy- Harvard Business Review

Using Technology to Expand your Business

Learning to use technology to your advantage will be an important aspect to growing your business. A greater percentage of businesses and consumers use the Internet websites and social platforms to discover, research, discuss and buy products and services.

E-Marketing - SBDCNet.org, selling product online, developing a website, driving traffic.
Marketing Strategy for Home Business Success - The Balance Small Business
10 Marketing Strategies to Fuel Your Business Growth - Entrepreneur.com

Company Website
A presence on the Internet with a company website can be very valuable and essential for many businesses. Consider even just a one -page site to drive traffic for developing your brand. A websites can save you a lot of time and effort by providing sources of information to new clients, selling products and services online, and providing valuable training. Websites are very helpful in automating scheduling of appointments and follow-up. Sometimes we can't be everywhere but the website can. It is a great tool for downloading videos, photos, advertisements, etc.

How to Make a Website - WebsiteSetup.org
How to Get Your Business Online - SCORE.org

E-Commerce
E-Commerce Guides - SBDCNet.org, web storefront, solutions, software, payment processing, security, fulfillment, and customer service.

Using Social Media
Social Media Marketing - Entrepreneur.com, article library.

Pay-Per-Click Marketing
Ultimate Guide to PPC Marketing - PPCHero.com, explains what pay-per-click marketing is and how it works.

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Workshops
From the Orem Small Business Development Center:
Business Essentials Training (taught monthly at the Orem SBDC)

Advisors and Mentors
Ask someone in your ward or stake with business experience to mentor you.
Meet with
SBDC business advisor (free -- by appointment)

Recommended Reads

Digital Marketing For Dummies - by Russ Henneberry and Ryan Deiss

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

PREPARING FOR Expansion

"Almost every business requires additional capital, or money, to grow. Business owners typically obtain additional capital through their own savings or by debt financing or equity financing." - pg. 179

COMMITMENT ASSISTANCE

May assist you with commitments on pg. 188, My Commitments B, C, D & E. Discuss your findings with your business partners, family and action partner.

Creating a Business Plan

Now, with what you have learned, you may be ready to write a business plan to take a deeper dive into the feasibility of your business. Your business plan should identify and quantify all internal and external forces and activities of the business including but not limited to government regulation, economy, unmet needs, financing sources, competition, human resources, production and delivery of goods or services, etc. A projection of the activities should be quantified in pro-forma monthly and annual financial statements for the first three years of your business. A business plan is required to get financing.
Business Plan resource page - SBDCNet.org, Business plan templates by business type and links to a host of resources.

How to Create a Business Plan - Udemy.com (online course $)

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Financial Projections Worksheet - SCORE.org
SCORE Workshop IV - In this class, you will learn about accounting and bookkeeping systems, sources of capital, the six C’s of credit, and banking relations. You will also conduct a financial statement analysis and determine the next steps on your path to starting a business.

Advisors or Mentors
Ask someone in your ward or stake with business experience to mentor you.
Meet with SBDC business advisor (free -- by appointment)

FUNDING SOURCES

Utah Investment and Funding Sources - GrowUtah.com
Financial Resources for Your Business - Utah.gov
Mountainland Revolving Loan Fund - Association of governments assisting small businesses with a focus on gap financing.
Utah MicroLoan Fund - training and fund up to $50,000
USTAR Technology Acceleration Program funding (twice yearly) - provides competitive grants to early-stage companies.
USTAR Small Business Innovative Research grants (Office at SLCC in Sandy) - gives Utah technology-oriented a distinct advantage when it comes to receiving Small Business Innovative Research (SBIR) and Small Business Technology Transfer (STTR) funds.
Finance resource page - SBDCNet.org, Links to a host of resources.
Funding Programs - SBA.gov
Financing and Loans Resources - SCORE.org

Recommended Reads

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

Growth and Improvement

"Successful business owners think about and communicate what their business will become. They determine a vision for their business. A vision is a picture of a desired future state. In the Pearl of Great Price we read that the Lord “created all things . . . spiritually, before they were naturally upon the face of the earth” (Moses 3:5)." - pg. 194

COMMITMENT ASSISTANCE

May assist you with commitments on pg. 205, My Commitments B, C, D & E. Discuss your findings with your business partners, family and action partner.

Taking on Employees and Payroll

Adding a new employee to your business is a major decision that requires an organized hiring process and prayerful consideration.

If managing payroll is a needed topic of discussion with your group, you may consider holding a short discussion about it and learning from one another.

Read 8 Tax Steps to Take When Hiring Employees - SCORE.org
A Step-by-Step Guide to Hiring Your First Employee - SCORE.org ebook

Discussion questions:
What made you decide to hire your first employee?
How do you manage your hiring process, HR and payroll?
Do you use a software system, payroll service or accounting service?
How do you manage your payroll taxes (state and federal)? How much does it cost above and beyond basic wages?

Developing a Vision For Your business

Creating a Company Vision - Entrepreneur.com, guide to creating and editing your company vision.
How to Create a Big Vision for Your company - Inc.com

Creating aN Effective Business Presentation

Creation of an effective business presentation is key to selling to clients, raising awareness with communities and raising funds from investors or banks. You will likely modify your presentation for the audience you are addressing and as you improve your pitch. As you prepare your presentation, you may find the below articles helpful:
How to Create the Best Powerpoint Presentations, With Examples
- HubSpot.com, recommendations for creating an effective PowerPoint Presentation with downloadable templates.
8 Secrets to a Knockout Business Presentation - The Balance Small Business
7 Master Tips for Your Next Business Presentation - Inc.com

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Advisors or Mentors
Ask someone in your ward or stake with business experience to mentor you.
Meet with SBDC business advisor (free -- by appointment)

Recommended Reads

The books recommended by other business owners:
“The Goal” by Avraham Y. Goldratt, best-seller teaches about continuous improvement through a novel-like story.

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.


Pitch Perfect

"After completing the Starting and Growing My Business for Self-Reliance course, some groups choose to continue meeting together but less frequently. They find value in consistently learning together, supporting each other in growing their businesses, and working to overcome challenges." - pg. 212

COMMITMENT ASSISTANCE

May assist you with commitments on pg. 217, My Commitments B, C, D & E. Consider the resources below as one of the options to help you meet your commitments. Discuss your findings with your business partners, family and action partner.

EVENTS, WORKSHOPS AND TRAINING

Events
Check the business events calendar.

Workshops
Pitch My Business Workshop (taught at the Orem SBDC)

Go to 1 million Cups in Provo at The StartUp Building Wed at 9:00am to watch other entrepreneurs pitch their companies – free event
Watch Deal Forum event monthly in SLC Venturecapital.org - events

Advisors and Mentors
SBDC Counseling (free - by appointment)

Software Solution
Live Plan Pitch Deck - business plan software

Recommended Reads

“Art of the Start” - chapter 3 by Guy Kawasaki

NEED MORE INFORMATION OR ASSISTANCE?

Reach out to your stake leadership or request assistance from your local Self-Reliance Resource Center. We are here to help.

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