Bedford Business

Bootcamp

INSIDE THIS PACKET

About Bedford Business Bootcamp…...........................................................2 History of Program……………………………………….……..………..…………………...3 What to expect………………………………….…………………..........…………………….3 Facilitators………………………….………………………..………….………………………..4 Class Schedule……………………………………………………………………………………5 Class Curriculum………………………...……………………………………………………..6 About GrowthWheel….…………….…………….…………….……………………………..7 Incentives/Funding Opportunities…..…………………………………………………..8 Community Sponsors………………………………………………………………………….9

Bedford Bootcamp FAQ • Cost to participants is $99 per person, course material included. • 9 week program includes the fundamentals for opening a successful business in Bedford, VA. • Participants are eligible to receive funding for creating a business within town limits. • Deadline to apply: July 28, 2017

What you need to know Bedford Main Street is hosting an entrepreneur competition called Bedford Business Bootcamp. The program is designed to lead entrepreneurs through a nine-week course to help them plan for their businesses future. This program is ideal for aspiring entrepreneurs who only have a business idea, an entrepreneur that is ready to open their doors, or an existing business looking to expand. This class will take a lot of work and commitment! It is for entrepreneurs that are passionate and ready to learn about business planning and are interested in operating their own business. Anyone can participate in the program, but the prize money will be limited to businesses currently located or looking to relocate within the town limits.

This is an opportunity to work alongside local business entrepreneurs to discover their strengths, weaknesses, opportunities, and threats in their business, industry, and market. The curriculum helps guide participants to create solutions specific to their individual business. At the end of the program, participants will have completed business plan that will help them apply for loans and investment opportunities. In addition, participants will gain lasting relationships with other area entrepreneurs, the Small Business Development Center, local business resources, commercial lenders, and local professional services. Participants that complete the Bedford Business Bootcamp will also be eligible to compete for funding (if located in or relocating to the Town limits) to go towards the start-up or expansion of the business. Funding will be decided among the selected judges on the last night of the course.

WHO SHOULD TAKE THIS PROGRAM?

WHY SHOULD I PARTICIPATE?

History of Bedford Business Bootcamp

In July 2016, Bedford Main Street launched a pilot program for Bedford Business Boot camp. The boot camp's main vision was to encourage entrepreneurship in the Town, and aide in filling the vacant storefronts. The original program was 6 weeks and had 12 participants. This year, Bedford Main Street has revamped the program, with help from the Small Business Development Center and the highly successful curriculum of Growth Wheel. In addition, the winner of pitch night will be eligible to win up to a $5,000 value!

What to expect from Bedford Business Bootcamp

So you’re interested in opening or expanding a business? Bedford Business Bootcamp will give you all the tools and resources to get started, but that will also require hard work and dedication throughout the program from participants. Participants should expect: • Nine-week intensive course • Reasonable absence with prior notice will be excused with a make up class from SBDC (i.e. death in the family, excused illness) • Outside class assignments, or “homework” • Class teamwork and collaboration • Individual work and problem solving

MEET THE CLASS FACILITATORS

ABOUT BEDFORD MAIN STREET

Bedford Main Street (BMS) is a non-profit organization focused on creating a vibrant downtown community. BMS is primarily focused on three main goals: beautifying Bedford, creating events that promote the Town, and helping small scale businesses succeed. If you’d like more information or would like to become a volunteer, please visit our website: centertownbedford.com or contact us by phone or email! Phone: 540-586-2148 Email: bedfordmainstreet@gmail.com

The Small Business Development Center at Central Virginia Community College is an effective provider of customized counseling and education for small businesses in the region. The facilitators will be leading classes in Bedford each week during the Bedford Business Bootcamp program, but are also available for private office hours for more business counseling services.

NATHAN KOLB, M.B.A. – DIRECTOR OF SBDC AT CVCC

STEPHANIE KEENER, M.A. – PROGRAM SPECIALIST OF SBDC AT CVCC

Nathan is an entrepreneur at heart, starting his first business in the second grade! He has started, grown, merged, acquired, sold, and closed many small businesses and is always excited for the next opportunity. Nathan is also active in the Army National Guard as a Specialized Infantry Platoon Sergeant.

Stephanie has a background in higher education, non-profit administration, Main Street organizations, and Chambers of Commerce. Stephanie is passionate about business education, economic growth in rural communities, and arts and culture.

CLASS SCHEDULE Classes will take place from 6 – 8:30 P.M. at Central Virginia Community College,

1633 Venture Boulevard, Bedford VA, 24523

• Week 1, Introduction – Thursday, August 24th

• Week 2, Customers – Thursday, August 31st

• NO MEETING SEPTEMBER 7TH

• Week 3, Legalities – Thursday, September 14th

• Week 4, Messaging – Thursday, September 21st

• Week 5, Getting Paid – Thursday, September 28th

• Week 6, Cost Analysis – Thursday, October 5th

• Week 7, Financing – Thursday, October 12th

• Week 8, Action Plans – Thursday, October 19th

• Week 9, Celebration/Pitch Night – Thursday, October 26th

Week 5: How is the problem solved? This class helps to discover your minimum product viability to help you realize what you need to do each day to get paid and stay in business. Week 6: Cashing in on the problem. This class breaks down the cost of doing business, how to break even, and cash flow management. Week 7: Funding the solution- How do you get more funding? This class will focus on funding options, financing proposals, banking, and investment. Week 8: Testing the solution. This class will give business owners the opportunity to look back to where we started and develop an action plan for moving forward. Week 9: Taking the solution to the world! Class participants get an opportunity to pitch their ideas to a group of judges.

WHAT IS COVERED? The following is an overview of the nine-week curriculum for start-up and expanding businesses. The curriculum is designed to give an overview of all aspects of business to provide the best possible view for the business owner. The curriculum utilizes GrowthWheel by which the business owner analyzes strengths, weaknesses, opportunities, and threats in their business, industry, and market.

Week 1: Who are you? This class will gives introductions, expectations, program guidelines, and helps to determine what type of entrepreneur archetype you are. Week 2: What’s your businesses problem? This class focuses on knowing your customer and understanding the market industry. Week 3: Don’t make your problem a problem. This class gives an overview of the rules of doing business (licenses, certifications, insurance, and contracts). Week 4: Who else has a problem? This class teaches how to build customer relationships and finding the appropriate voice for your message.

ABOUT GROWTHWHEEL

The curriculum endeavors to remain at a “10,000 foot level”, reaching all businesses across industry, history, age, and stage of growth. The design facilitates discussion within the allotted classroom time and significant personal and professional discovery through the homework and activities that are to be completed between each class. The curriculum encourages exploration, experimentation, decision making, and action steps. Business owners that complete the curriculum will be prepared to move forward in their endeavors while understanding the benefit of working with a competent advisor, especially a certified and licensed GrowthWheel advisor. Each class will follow the same basic pattern with a set of inter- related topics led by the facilitators with the group. A guest speaker who has expertise in one or more of the topics will speak to the group to encourage them and provide specific insights. The facilitators will guide the group through the application of their new knowledge by completing a selected GrowthWheel worksheet for a developed case study business that will be utilized throughout the curriculum. Between classes each business owner is responsible for completing homework assignments as well as one or two activities. At the conclusion of the curriculum the business owner will have completed a resource notebook filled with GrowthWheel worksheets, business specific interviews, market and industry reports, and listings of local and state resources. This notebook will be indispensable in the growth of the business as it constructs loan packages, explores investment opportunities, and creates a positive business culture within the organization and the community.

BEDFORD BUSINESS BOOTCAMP

INCENTIVES

Even if your business does not receive funding after the completion of classes, participants will still walk away with valuable resources for years to come, including: • Education • QuickBooks training • SBDC continued coaching •Relationships with local lenders • Development of a business plan • Relationships with other entrepreneurs in the community •Donations of professional services and marketing

Funding Opportunities

At the end of the program, assuming perfect attendance, the businesses will have the opportunity to pitch their idea to a panel of judges for the opportunity to receive funding. Funding will be determined by the judges, and based upon the strength of the business plan, sustainability of the business, and need for the business in the community. If funded, business owners will be required to submit their receipts to Bedford Main Street. Funding is to be used for rent and utilities. Businesses awarded will forfeit any prize money awarded if not open and operational by July 1, 2018.

Though anyone who is interested in starting a business can participate in Bedford Business Bootcamp, funds will be restricted inside the Town of Bedford limits. Funding will only be awarded to businesses who are located in a commercial or industrial property.

Where can my business be located?

THANK YOU TO OUR COMMUNITY SPONSORS