Creating Business

Opportunities

S. Gary Bullen North Carolina State University

Creating Business Opportunities•CBO’s goal is to support the development

and establishment of agricultural business opportunities

•Partnership between North Carolina State University, N.C. Department of Agriculture and Consumer Services N.C. Farm Bureau and N.C. Rural Center.

•Sponsored by Golden LEAF Foundation

Objectives•Prepare county personnel to help

entrepreneurs with new business ideas•Develop a business training curriculum•Develop a set of business development

tools to support county personnel•Create a network that will foster

information sharing between groups working in business development

If We Offer the Training Will They Come?

•Expected outcome: train 75-100 people CES Agents, NCDA, Community Colleges, NGO’s SBTDC, Economic Development Offices

•How do we get 100 people to attend? – The time was right for this training– Create expectations– Got All administrator's buy-in early – Asked District Directors to nominate 10 people– Nominees applied for the training

•We had 117 applications for the training

How will you benefit from training?

“As a commercial horticulture agent I am asked all the time “What can I do to make money?”

“I see this as a valuable tool that I need desperately! I do not have formal training in business management, only production and diseases. It will better enable me to guide my clientele in the business management aspects of building a new business.”

How will you benefit from training?

“ I am lacking in business development knowledge and skills. As an extension agent, I have no problem working with producers on production related issues.

However, I do not feel as confident when issues of business planning, development and marketing arise. I hope I gain needed knowledge and skills to help clients with their endeavors”

The Training Curriculum

• Find existing business curriculum

• Must work through a design committee

• What topics should we include and the depth of training?

• Four two day trainings: Feb, March, August and September, with summer months for practicum

• Comprehensive business training, 60 hours

• Offered 3 hrs graduate credit

The Training Curriculum

•Training was designed as if someone walked into your office asking for helping with new business idea

• Combined lectures with group exercises• Teams formed based on geographic areas• Each session had time to introduce groups

working in business development• TEAM Marketing plan practicum• Complementary training resource manual • Creating Business Opportunities Website

CBO Training

Short Lectures

Team Exercises

The Training Curriculum

• Session 1: Evaluating a new business idea

• Session 2: Regulatory issues, taxes, financial statements

• Session 3: Market research and development

• Session 4: Business planning and money sources

Teams Work

Networking

Marketing Plan Practicum

• Marketing plan was a five page summary to included– Market analysis – Business Proposition– Strategies and Action

Plan– Projected Budget– Evaluation– Legal issues

Marketing Plan Practicum • Each team developed a marketing plan for a

real business• Practicum's

– Full Circle Bed and Barn– Microwavable Bagged Snap Beans– Flint Hills Vineyard– Farm Raised Shrimp Co.– Mountain Harvest Organic– Cross Creek Tourism Farm– Hydroponics Greenhouse Mixed Greens– Bakerville Community Market– Shitake Mushrooms– Timber creek Sod Farm– Northeastern Peanuts

Marketing Practicum

Business Tools•Manual/CD

•Business books

•Other tools and templates– Initial visit of potential business owners– Will it make money?– Market research– Market Planning– Legal and Regulatory information – Case studies

What have you used from Business Development

Network? • Information on marketing

• Using information to develop a seminar

• Shared information with county manager

• Legal contact information

• Small business textbook

• I have used the notebook as a resource

• Have used financial record keeping and analysis materials

Evaluations• Started with 95 attending with first

training… ended with 83

• Participants rated over all program a 1.85 with 1 being highest

• Some of the committee from participants “No suggestions for improvement-this

is the most helpful real world training I’ve had in entrepreneurship”

“Extensive resources provided, liked the networking”

What worked? / What I Would Change?

• Laid foundation for business network

• County personnel now have business development resources

• Training was good overview of business development

• Next training less topics more time for each topics, more hand-on exercises

• Smaller number for class

What Happened As Result of Training?

•Five teams have organized Business Development Workshops

•Ten business case studies

•Three business training workshops offered

•Create county teams for business development