SBDC: Starting Your Own Business: How To Start Your Own Business

Date/Time:

SYOB part 19/20/226:00 PM- 8:00 PM (CDT)SYOB part 29/22/226:00 PM- 8:00 PM (CDT)

Status: Open - 17 places remaining Registration Deadline: 9/20/22 10:00 AM (CDT) Point of Contact: Becky Castilleja (806) 745-1637 Location: 5001 W Loop 289, Lubbock TX 79414-1614 Training Topics: Business Plan, Business Start-up/Preplanning, Marketing/Sales Description:

SYOB is a two night workshop

PART 1  Starting Your Own Business Part 1- How to Start Your Own Business 09-20-22 6-8 PM

Starting a business involves planning, making critical financial decisions, and completing a series of legal activities. Join us at this workshop to learn what it takes to start your own business - be it brick-and-mortar, home-based, or eCommerce.

During this  2-hour workshop, you will learn:

• What does it take to start a business?
• Do you need a business plan and how to create one?
• What are some small business marketing dos and don'ts?
• And more!

PART 2 Start your Own Business Workshop Part 2 - Business Financing and Accounting 101 09-22-22 6-8 PM

Learn how to finance your business and basic accounting with the Texas Tech University Small Business Development Center.

ACCOUNTING

We will discuss basic accounting principles that every small business owner should know.

• Debits and Credits in QuickBooks and other similar software
• Cash vs Accrual, why should you care?
• Understanding financial statements
• What is a balance sheet and how do you read it?
• What kind of important elements can you find on a balance sheet?
• o   Spotting bookkeeping errors on a balance sheet
• What is an Income Statement (Profit & Loss Statement)?
• o   Various kinds of profit and loss statement details
• o   What items should NOT appear on profit and loss statements?
• o   Typical mistakes seen on profit and loss statements and how to avoid them
• o   Net profit vs Cash
• What is a cash flow statement and how can it help your business?

FINANCING

Learn the basics of small business loans. This knowledge can apply to startup businesses, existing businesses wanting to expand, or loans for franchisees or to buy an existing business. We will cover various funding sources, including SBA loans. We will explain how banks look at and assess your business loan applications so that you are better prepared and to increase your chances of approval.

Sponsored by the Texas Tech University Northwest Texas Small Business Development Center

Pre-registration required.

REGISTRATION IS ONLY COMPLETE ONCE PAYMENT IS MADE!

Registration complimentary

Instructions:

Please Click SIGN UP at top of the page to register. This event free of cost  registration (for each attendee) is required. If you can not find your confirmation email in your normal inbox, please check in your Spam or Junk Email folder.

Part two of this workshop:

SEPT 22, 2022 | 6:00 PM - 8:00 PM |SYOB-Business Financing and Accounting 101