For those awarded an opportunity to participate in the Small Business Initiative we have a few expectations!  The participant will need to identify a community partner where their product(s) can be readily available to the market.  As an example, Joy Tabernacle hosted our first cohort, and the Hispanic Institute of Technology graciously accepted the community partner role for the second cohort.  Community partners play a very important role; their active traction will allow the participants to meet and engage their market with Pop-Up engagements. 

 

During the training, each participant will be provided project capital to work through inventory and rental equipment needs.   

Upon successful completion of this program, the candidates seeking funding will have access to the micro-lending fund operated by the City of Flint.

 

 

Week 1 & 2:    The Business Model Canvas - the participants will chart and clarify their key stakeholders, vendors, support networks, facilities, buying privileges, distribution, and customer relationship strategy.

Mid-Week Engagement: The participant should participate with a community partner, one identified with a robust outreach mechanism where your products or services can be featured and easily promoted.

Week 3:   Customer Service and Salesmanship- the participants will discuss and demonstrate their wares with the intent to document their engagement strategy.  The intent is to measure impact and customer feedback.  Operations- the participant will chart daily activities, assign tasks, show their inventory controls, marketing strategies and frequencies, as well their accounting methods.

Mid-Week Check In: Participants meet with their trainer to review plan progress and flow. 

Week 4:   Identifying Capital Needs – each participant will have an opportunity to illustrate what they’ve discovered as needed resources and funding to move their ventures to the next level. Complete market analysis from SBDC and SBA free resources.   We introduce the financial controls. 

Week 5:   Digital Marketing and Social Media Strategy – the participants will show and tell what methods they currently use to promote their businesses.  We will use this opportunity to incorporate external sources to assist with the marketing strategy.

Off Week: Pop-up Engagement: The participants will have an opportunity to show case and demonstrate their wares during a structured and heavily marketed event.

Week 6:  Financial Controls – the pro forma documents will be completed based on the sales strategy and discovery of the start-up funding needs identified during the business modeling process.  Identifying start-up cost; the participants will complete micro lending applications for potential funding outlined by the City of Flint.

Week 7:    Management and Operations – the participants are introduced to their daily activity logs and techniques to manage day to day operations.  Marketing 101 – how to reach your customer tactics and strategies.

Week 8:  Plan completion, review, and presentation – those who have demonstrated their fit and compliance will be allowed an opportunity to present their business model to the City of Flint for funding and other supports.

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