University of La Verne SBDC Small Biz Blog

Binary Exercise and Sports Training Los Angeles, Ca https://www.beastathletics.org/  Follow on  Instagram Arthur Romero is the founder of Binary Exercise and Sports Training (BEAST), a non-profit organization that trains local kids in the San Gabriel Valley. Arthur recognized a lack of coaches who genuinely care about the kids and community. “One of the reasons I started BEAST is to bring people together and offer opportunities to the youth as far as sports training, sports development, and just being able to succeed in their respective sport overall. Because everything in sports translates to life,” Arthur explained. “I had actually developed the idea for BEAST early on when I started as a freshman at the University of La Verne. I was really all over the place as far as what I wanted to do with it and how to take it to the next level,” Arthur said. By chance, Arthur introduced himself to University President Devorah Leiberman while walking on campus and asked for any resourc...

  Financial projection are the most intimidating part of starting a business. So much so, that many people want to know how much it's going to take to start up. Many people just skip this step until they actually need it. In this webinar, you will learn: Determine the feasibility of your business idea Calculate the break-even sales volume Prepare financial projections often needed for an SBA loan 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. Start Up Financial projection can be use this to answer a lot of common startup questions like… Will my business idea work? Is my business feasible? How much should I pay myself? How much do I need to sell to be profitable? How much do I need to start the business? Common Start Up Expenses Existing Businesses You can also use this with clients seeking a loan because even if you’ve been in busine...

By Joshua Botello If you are looking to take content like a blog, youtube channel, or a news company to the next level and turn it into a full-fledged business, there are some specific things you need to take care of. Many content creators start as a hobby but have no idea what it takes to turn their passion into a legitimate business. In this start-up guide, I will show the 5 steps to get your media business started and what you need to know to operate as a legitimate business. So let’s get started. Business Concept The very first step is to come up with a business concept. Many of you watching will already have this down if you have an existing blog or youtube channel. Beyond your concept, you may need to research if this is a sustainable topic that will last or if it’s just a fad. You also want to make sure the content you create is fresh and not being talked about in a saturated space that will increase your competition and make it harder for you to make money once you monetize you...

By Joshua Botello Are you worried you’re running out of cash for your business? Do you find your business doesn’t have money to pay your bills or do you run short on cash for payroll? In this video, I’m gonna show you how to create a cash flow statement to better manage how your business is spending money. Keeping track of finances is hard for many small business owners and many of our clients get overwhelmed for fear of messing up their accounting. What if you could have a simple document that was generated automatically to show the flow of cash into, and out of, the business and know if you could meet your business obligations? In this video, I’ll explain what a cash flow statement is, the components of a cash flow statement, and how to use it for your business.    What is a Cash Flow Statement The statement of cash flows is the last of our 3 basic financial statements the business owner can use to track their business finances. The cash flow statement is used to perfor...

Hiring it out or doing it yourself? There are pros and cons to both and it really boils down to the 3 T’s: Time, Talent, and Treasure. These are more important to you given the situation and the likelihood of success in what you’re trying to accomplish. Time Well, we all know that time is precious! Whether it's my kids asking me desperately for 5 more mins to play their games with their friends before dinner or the business owners I know who pay executive coaches to help them regain an hour of their day by using time management techniques.  I’d say you have to ask yourself, “How much time would it take you to do it yourself versus hiring it out”. If what you’re trying to do time sensitive, or needs to be completed by a certain deadline you need to be real with yourself about your available time to get it done. Like Franklin Covey’s 4 quadrants - is this something that is urgent and important? For example, taxes. Maybe you need to file an extension and you don’t know how to do that,...

  Learn all the steps you need to take to start a business: from developing your plan to market research to filing your licenses in today's simple step-by-step webinar.  For one on one personalized consulting: www.lavernesbdc.org/newclient Develop A Plan Business planning resources Get the business plan template (Business Plan Outline)   Know Your Market NAICS Code Lookup   LA County Library / Reference USA LA County Demographics Formalizing the Business   Franchise Tax Board - Forms of Ownership LLCs & Corporations Name Search Los Angeles County Name Search for FBN (Sole Proprietorships) San Bernardino County Name Search for FBN (Sole Proprietorships)  Domain Name Search    Licenses & permits lookup Record-Keeping Record Keeping Systems    LA County Library / Lynda.com / LinkedIn Learning Outsourced accounting  ( https://bench.co/ ) Find a QuickBooks Pro Advisor Find a Professional Business Taxes  IRS Publication...

by Joshua Botello An income statement is the first financial statement that most business owners become accustomed to because it’s the easiest to interpret. Yet many of our clients just starting out are unsure how any of this financial stuff works. In this video, I’ll break down what an income statement is, its major components, and some useful formulas to better understand your business profitability. What is an Income Statement An income statement is a financial statement that shows how profitable a business is at a certain point in time. The income statement is also known as the profit and loss or P&L to show if they are making money by the job, month, or year. The major components of the Income statement include sources of income, expenses, and a net income or net profit to show how profitable the business is. The income statement is helpful because it itemizes expenses incurred by operations. All of these costs have a definitive number and business owners can pinpoint where t...

Mark Hicks is an adjunct professor of management at the University of La Verne School of Business and Public Management. Professor Hicks also teaches a class as part of practicum where the students form a business, sell a product and donate the profits at the end of the term.  Mark is also a business consultant at the University of La Verne SBDC, where he helps clients looking to start a business with business planning, licensing, permitting, and small business loans. What is Company Culture? Company culture is the environment that is created within a business or organization. Culture affects how you think, what you do, and how you feel at work. When you look at organizations like Apple, you would understand that Apple is a culture of innovation and technology. Along with that culture, the employees enjoy perks and benefits from the company.  Culture is driven by the leadership at the top or the business owner, just as Steve Jobs or Tim Cook drives the Culture at Apple. C...

  Sensational Organizing Services www.Sensationalorganizing.com Elva Fonseca is the owner of Sensational Organizing Services, a professional organizing service for individuals and businesses. Sensational Organizing Services takes care of all the details including hauling away the unwanted items, decluttering, and procuring the organizational containers. Founded in 2015, the business was doing ok as they were getting clients, but Elva recognized there were still gaps involved with running her business that she wanted to address. “I didn’t go to school to run a business. I just knew how to do my trade and how to serve people, but as far as running a business was operating out of trial and error,” Elva explained. She reached out to the San Dimas Chamber and was eventually referred to the University of La Verne SBDC. The specific challenges Elva had were a steady flow of clients and communicating the pricing of her services with clients. “I didn’t know what my marketing strategy was to...