Welcome to: How To Integrate Entrepreneurial Training With Career Technical Education Programs (CTE)

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1 Welcome to: How To Integrate Entrepreneurial Training With Career Technical Education Programs (CTE) What? Who? How?

2 How to Integrate Entrepreneurial Training with Career Technical Education Programs (CTE) Learning Objectives: What? Who? How? Determine the assets you have on-campus and in the community that could be marshalled to make this change. Identify the relationships you have on-campus and in the community that could be marshalled to make this change. Identify the obstacles you may face during your integration process as well as potential solutions. Learn about different models of integration available.

3 What? What Is Entrepreneurial Training? Main Components of Entrepreneurial Training 1. Understanding Entrepreneurship 2. Business Planning/Financial Forecasting 3. Financing a Small Business 4. Strategic Assessment/Growth of Business 5. Small Business Leadership/Organization 6. Marketing & Sales Strategy

4 What? What Is Entrepreneurial Training? Understanding Entrepreneurship Introduction to Entrepreneurship Importance of Small Business to the Economy Characteristics/Skills of an Entrepreneur Need for Market Research/Validation of Business Idea Entrepreneurial Alternatives (start-up, franchising, buying an existing business) Legal Entities, Intellectual Property Start-up Costs/Financing Mission, Vision, Business Planning

5 What? What Is Entrepreneurial Training? Business Planning/Financial Forecasting Components of Effective Business Plan/Audience of Plan Perform Market Research Write the Plan/Resources & Guidance Available Prepare Financial Forecast Use of Industry Comparison Data Making the Go, No-Go Decision

6 What? What Is Entrepreneurial Training? Financing a Small Business Sources of Financing Finance Requirements/Expectations Financial Statements/Accounting Principles ID of Key financial Measures, Pricing, Volume & Costs Manage Cash Flow/Fixed & Variable Costs/Cost Accounting Concepts

7 What? What Is Entrepreneurial Training? Strategic Assessment/Growth of Business Stages & Hurdles of Business Growth Assess Current Conditions/Strengths & Weaknesses/Opportunities Revisit the Business Vision Develop Strategies & Action Plans for Improvement Address External Opportunities Communicate & Execute the Plan

8 What? What Is Entrepreneurial Training? Small Business Leadership/Organization Create Common Purpose (vision & Mission) Create a Positive Company Culture Create Employee Relationships & Engagement Create Effective Communication Providing Employee Recognition & Rewards Job Descriptions/ Personnel Accountability Organizational Structure & Processes Employee Hiring, Train & Development

9 What? What Is Entrepreneurial Training? Marketing & Sales Strategy Market Focus Understand Customer Needs/Create Customer Service Strategy Approaches to Marketing Online Marketing Sales Skills & Strategy Understand the Competition/Create Competitive Advantage The Business Model and Value Proposition

10 Who? Who Collaborates to Integrate Entrepreneurial Training with CTE? Internal Collaborators Program/Curriculum Development CTE Administration/Staff/Faculty College/Department/Division Administrations College Governing Board/Chancellor/President Finance Department Human Resources Marketing Department Online Education Continuing Education

11 Who? Who Collaborates to Integrate Entrepreneurial Training with CTE? External Collaborators Small Business Service Providers Entrepreneurship Team Program Advisory Councils Governmental Support (city, county, state,) Chambers of Commerce NAWBO Local Office State/Local Economic Developers Financial/Small Business Loan Services Local Start-up Support Organizations Other Educational Institutions

12 How? How Do We Integrate Entrepreneurial Training with CTE? Curriculum Immersion (Entrepreneurship curriculum integrated with technical curriculum) Certificate/Degree Program (Fully-Integrated entrepreneur/technical Curriculum leading to a certificate or degree) Student Enterprise Program (Provision of space and resources/services for students to start-up a business) Incubator Program (Program that accelerates growth/success of entrepreneurial companies via business support resources/services: physical space, capital, coaching, common services, and networking connections)

13 Follow-up Activity Assets: List the Assets Your College Has Now to Do This Work

14 Follow-up Activity Relationships: List the Relationships Your College Has to Do This Work

15 Follow-up Activity Obstacles: List the Obstacles Your College Has to Do This Work

16 Thank You! Stan Steinman Academic Dean, Workforce and Business Development Eric Moorefield Program Coordinator, Workforce and Business Development

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