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Creating Business Opportunities

Creating Business Opportunities. S. Gary Bullen North Carolina State University. Creating Business Opportunities. CBO’s goal is to support the development and establishment of agricultural business opportunities

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Creating Business Opportunities

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  1. Creating Business Opportunities S. Gary Bullen North Carolina State University

  2. Creating Business Opportunities • CBO’s goal is to support the development and establishment of agricultural business opportunities • Partnership between North Carolina State University, N.C. Department of Agriculture and Consumer Services N.C. Farm Bureau and N.C. Rural Center. • Sponsored by Golden LEAF Foundation

  3. Objectives • Preparecounty personnel to help entrepreneurs with new business ideas • Develop a business training curriculum • Develop a set of business development tools to support county personnel • Create a network that will foster information sharing between groups working in business development

  4. If We Offer the Training Will They Come? • Expected outcome: train 75-100 people CES Agents, NCDA, Community Colleges, NGO’s SBTDC, Economic Development Offices • How do we get 100 people to attend? • The time was right for this training • Create expectations • Got All administrator's buy-in early • Asked District Directors to nominate 10 people • Nominees applied for the training • We had 117 applications for the training

  5. How will you benefit from training? “As a commercial horticulture agent I am asked all the time “What can I do to make money?” “I see this as a valuable tool that I need desperately! I do not have formal training in business management, only production and diseases. It will better enable me to guide my clientele in the business management aspects of building a new business.”

  6. How will you benefit from training? “ I am lacking in business development knowledge and skills. As an extension agent, I have no problem working with producers on production related issues. However, I do not feel as confident when issues of business planning, development and marketing arise. I hope I gain needed knowledge and skills to help clients with their endeavors”

  7. The Training Curriculum • Find existing business curriculum • Must work through a design committee • What topics should we include and the depth of training? • Four two day trainings: Feb, March, August and September, with summer months for practicum • Comprehensive business training, 60 hours • Offered 3 hrs graduate credit

  8. The Training Curriculum • Training was designed as if someone walked into your office asking for helping with new business idea • Combined lectures with group exercises • Teams formed based on geographic areas • Each session had time to introduce groups working in business development • TEAM Marketing plan practicum • Complementary training resource manual • Creating Business Opportunities Website

  9. CBO Training

  10. Short Lectures

  11. Team Exercises

  12. The Training Curriculum • Session 1: Evaluating a new business idea • Session 2: Regulatory issues, taxes, financial statements • Session 3: Market research and development • Session 4: Business planning and money sources

  13. Teams Work

  14. Networking

  15. Marketing Plan Practicum • Marketing plan was a five page summary to included • Market analysis • Business Proposition • Strategies and Action Plan • Projected Budget • Evaluation • Legal issues

  16. Marketing Plan Practicum • Each team developed a marketing plan for a real business • Practicum's • Full Circle Bed and Barn • Microwavable Bagged Snap Beans • Flint Hills Vineyard • Farm Raised Shrimp Co. • Mountain Harvest Organic • Cross Creek Tourism Farm • Hydroponics Greenhouse Mixed Greens • Bakerville Community Market • Shitake Mushrooms • Timber creek Sod Farm • Northeastern Peanuts

  17. Marketing Practicum

  18. Business Tools • Manual/CD • Business books • Other tools and templates • Initial visit of potential business owners • Will it make money? • Market research • Market Planning • Legal and Regulatory information • Case studies

  19. What have you used from Business Development Network? • Information on marketing • Using information to develop a seminar • Shared information with county manager • Legal contact information • Small business textbook • I have used the notebook as a resource • Have used financial record keeping and analysis materials

  20. Evaluations • Started with 95 attending with first training… ended with 83 • Participants rated over all program a 1.85 with 1 being highest • Some of the committee from participants “No suggestions for improvement-this is the most helpful real world training I’ve had in entrepreneurship” “Extensive resources provided, liked the networking”

  21. What worked? / What I Would Change? • Laid foundation for business network • County personnel now have business development resources • Training was good overview of business development • Next training less topics more time for each topics, more hand-on exercises • Smaller number for class

  22. What Happened As Result of Training? • Five teams have organized Business Development Workshops • Ten business case studies • Three business training workshops offered • Create county teams for business development

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