Entrepreneurial Classes Are Underway

Peter Manley, Wood County Extension Resource Agent

Six businesses are half-way through an eight week course in developing business plans.  Peter Manley is the course coordinator and teacher. The students have extensive reading and workbook assignments each week.    All of the homework is geared toward helping them complete their business plan.

The course is sponsored by Wood County, UW Extension, Small Business Development Center, Heart of Wisconsin Business and Economic Alliance and the Department of Commerce.  We meet in the Courthouse Auditorium.  Two guest speakers have utilized the Computer Training Room across the hall.

Some of the topics covered include: Planning and Legal Structure, Market Research, Marketing, Financial Records, Financial Controls, Financial Planning and Budgets, Cash Flow and Sources of Funding.

Each week there are also local guest speakers.  A local attorney explained how to choose between different types of business ownership.  Students were taught how to do computer research to discover more about customers in their market and competing businesses.  A marketing executive explained how to develop several parts of a successful marketing plan.  A local banker explained lending during the economic downturn and how to keep records that your banker will find useful.  Students learned how to set up a computerized bookkeeping system from a QuickBooks Certified Advisor.

Business plans help entrepreneurs set realistic goals for their business and help them define their business objectives for themselves.  A business plan is an important tool to get better help from an attorney and an accountant.  Business plans are a must to obtain business loans.

As you can imagine it is quite a project to develop the eight week course.  We plan to offer it in the Marshfield area in the fall of 2009.

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