University of La Verne SBDC Small Biz Blog

  Many business owners may have an idea for a small business or multiple competing ideas and are not sure if they want to pursue it. Do you wish you knew what business idea to pursue before you put a lot of time and money into something that may not work? In this guide, I will take you through a simple 3 step process to evaluate your business idea so you can move forward with confidence. Check out the checklist from score and follow along. Let’s get started. Business Concept Our first step is to develop our concept. You want to make sure that your business idea is a skill you have as a service or is valuable as a product, otherwise, people don't want it if you can't deliver on the promise or provide a lousy product. The other thing you need to think about is imitation. Is this a trending product or service? Is everyone doing it? You want to offer a product or service that is valuable but not easily replicated because that just spells more competition for you and your business

Financial projections can often seem daunting when embarking on a business venture. In fact, they can be so intimidating that many individuals prefer to delay addressing them until the need arises. In our upcoming webinar, we will explore the following key topics: 1. Assessing the viability of your business concept. 2. Calculating the break-even point for sales volume. 3. Creating the financial projections necessary for securing an SBA loan. Getting Started Download the Google sheet and follow along  here.   You can view only. [ File > Download > Make a Copy ] so that you can create your own spreadsheet for you to keep and update. or  Download the Excel template  here .  Startup Phase Financial projections are invaluable in answering various crucial startup questions, such as: Will my business idea prove successful and feasible? What is an appropriate compensation for myself? What sales volume is required to attain profitability? How much capital is needed to launch the busines

If you're a small business owner wondering if the world of government contracting is a viable opportunity for your product or service, you're in the right place. In this article, we will walk you through the essential steps to determine whether government contracting aligns with your business goals.  The Small Business Administration (SBA) has been actively encouraging small businesses to engage with both federal and local governments in the realm of government contracting. However, it's vital to recognize that government contracting isn't for everyone. Several factors come into play, such as government spending in your business industry and your business's readiness. In this article, we'll provide you with a concise guide on conducting research to determine if government contracting is a suitable path for your business and industry. Let's get started. Step 1: Familiarize Yourself with Your NAICS Code Before embarking on any research, you must identify your

Verus Wellness, LLC. 185 Lexington Ln Costa Mesa, Ca 92626 Karla Andrade is the owner of Verus Wellness, LLC, and her journey began with a vision to address the limited access to registered dietitians faced by the majority of the population. Recognizing the need for health consulting services beyond hospital settings, she expanded her business from personal training to health consulting. Through networking and meeting with other providers, she realized the shared challenges in their respective sectors and sought ways to bridge the gap in healthcare access. Karla's mentor, who had previously received assistance from the SBDC, recommended the University of La Verne and specifically Sean, a business mentor at SBDC, to help Karla with her business plan and marketing strategies. "I have a business mentor, and Sean had helped her in previous years... She put me in contact with the University of La Verne, specifically with Sean,” Karla explained. Having no prior business education, K

  In this webinar we'll cover: Free business plan template demo Market research tools Free Resources and Support Financial projections Break-even analysis Live Q & A It’s not super exciting, but it’s absolutely essential if you talk to any established business owner. Writing a business plan is a critical exercise for both established businesses and startups, but there are some rules you need to know about first. 3 Rules of Writing a Business Plan Be real with yourself. A business plan is just a collection of assumptions put together and if you're not being real with yourself it won't work. Keep it simple. No matter how technical your product or service is, be sure to stay focused and keep it simple. As Albert Einstien said, "If you know something well enough, you should be able to explain it simply" Do it yourself. Don't just hire someone to write the plan for you because it's not the plan that's important - it's the planning process. Why