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An entrepreneurial program designed for micro-entrepreneurs that have fewer than five employees, startup costs of less than $35,000 and annual revenues of less than $100.000.
First Step FastTrac is an education program created by entrepreneurs for entrepreneurs. FastTrac's hands-on program uses your business concept as a case study - giving you an opportunity to evaluate and perfect your idea in a safe and supportive environment.
In class and in coaching sessions, you'll explore issues such as: What additional opportunities exist for entrepreneurs? How can I market my new business? How do I price my products and services? How do I begin developing a budget?
By the time you finish the program, you'll know whether your idea has "legs" and if starting a business is the right decision for you.
In First Step FastTrac, you will:
- Explore strengths and opportunities for personal and professional development.
- Develop a feasibility plan so you can evaluate your business concept. This plan will include:
- An Executive Summary;
- Product and Services;
- Market Analysis;
- Price and Profitability Analysis;
- Plan for Further Action.
Before you quit your job or invest your life savings, wouldn't it be nice to know whether your business idea has merit? In First Step FastTrac, you'll write a feasibility plan that examines your business idea from every angle. This plan helps you decide if your business is a "go" or a "no go" before you spend too much time or money.
Designed for entrepreneurs with low- to moderate-incomes who are starting or expanding a small business, First Step FastTrac incorporates materials from the award-winning FastTrac program. You'll work closely with other entrepreneurs, sharing ideas and experiences, and laying the foundation for future business relationships. Through the program, you'll discover whether the life of an entrepreneur is right for you.
First Step FastTrac® Program Outline
- Introduction to First Step FastTrac®
Define personal vision and goals, and introduction of Model Business Reality Check.
- Communicating the Business Concept
Transform business ideas into business concept statements, start building an emotional network, and complete the Personal Financial Statement form.
- Gathering Information for Feasibility
Feedback on business concept statements, consider personal financial readiness and become familiar with available resources.
- Product and Service
Describe product/service including features, benefits, and uniqueness.
- Market Analysis - Industry and Competition
Focus on opportunities in the industry and evaluate competition.
- Market Analysis - Market Segments and Strategies
Define target markets and develop marketing strategies.
- Price and Profitability - Pricing and Product/Service Cost:
Pricing strategies and the affect prices have on profitability, and break-even analysis for product and service.
- Price and Profitability - Profits
Difference between profits and cash, and determining financial feasibility.
- Price and Profitability - Cash Flow
Using the Cash Flow Report to evaluate feasibility, making legal issues, and sales projection tools.
- Plan for Further Action - Resources for Success
Finalizing the Cash Flow Report, and key accounting issues and resources.
- Plan for Further Action - Next Steps:
Tools to complete the feasibility plan, and key financial resources.
- Feasibility Plan/Graduation:
Graduation and Executive Summary Presentation
 Online Registration
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