SBDC Blog

Financial Statement Analysis

UVU Incubator

QuickBooks

Entrepreneur Story

7 Habits

Start Smart

Internet Marketing

Fast Trac High Tech

Search Engine Optimization

BizSmart

Community Education

Gaining Focus™ Management Analysis Tool 

MATC Customized Training

Microbusiness Mentors

Getting Started or Having Business Problems?

Let the Small Business Development Center be your springboard to starting and running a profitable business. We offer no-cost consulting, quality business training workshops, and networking opportunities within Utah and Wasatch County. 

Our office is funded in part through the Small Business Administration (SBA) and Utah Valley University.  These funds make it possible for us to be your conduit into doing business effectively and profitably in Utah County and Wasatch Counties.  If there is a business topic that you would like us to cover, please call us at: 801-863-8230 or send an e-mail to: sbdc@uvu.edu

Fall semester has begun again and we are excited to be offering an array of new classes for your business needs!  Please read on for details.

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Orem Small Business Development Center Blog

We have created a blog with Success Stories for you to enjoy.  Please take the time to explore it and comment upon the stories.  Every 2 months we will select a business that is doing very well and write a success story about them.  Hopefully your business will be next!  Please write your comments about the Orem SBDC Center- We'd be interested to read them, whether they are negative or positive.  www.sbdcuvu.blogspot.com

Financial Statement Analysis (3 sessions) Utah County
 Geneva Building (1410 West 1200 South, Orem) GB 203
Wednesday, October 8, 2008- 6:30-8:30pm- Income Statement (Profit and Loss Statement)
Wednesday, October 15, 2008- 6:30-8:30pm- Balance Sheet
Wednesday, October 22, 2008- 6:30-8:30pm- Statement of Cash Flows

These are the classes you have been asking for - what the numbers mean on the three financial statements and how to interpret those numbers to make sound financial decisions.  And the classes are FREE.  If you are in business bring your company's yearly financial statements (profit and loss, balance sheet, and statement of cash flows) for 2006 and 2007 to each class.  Between the first and second class, our staff will use a software program to calculate each company's key financial ratios and measurements as well as compare these numbers to the benchmarks in their respective industry.  All of the information will be kept completely confidential.  The following is a brief description of each class:

  • Part 1- Income Statements- October 8th- Drive Your Company's Profitability
    1. Discuss Revenue Recognition and Modeling
    2. Discuss Cost of Goods Sold
    3. Discuss Manufactoring and Selling, General & Administrative Overhead
    4. Discuss Gross Margin and Net Margin
    5. Break-Out Variable and Fixed Costs
    6. Calculate Break-Even
    7. Discuss How to Use this information to Improve Profits
  • Part 2- Balance Sheets- October 15th- Improve Your Company's Financial Health
    1. Discuss Assets = Liabilities + Equity
    2. Discuss Current Assets
    3. Discuss Fixed Assets and Depreciation
    4. Discuss Other Assets
    5. Discuss Current Liabilities
    6. Discuss Long-Term Liabilities
    7. Discuss Equity/Net Worth
    8. Discuss Need to Reconcile Each Account Each Month for Accuracy
    9. Discuss Financial Ratios to Assess Business Health and Why Business Health is Important
    10. Discuss How to Use the Numbers to Improve Financial Health
  • Part 3- Statement of Cash Flows- October 22nd- Improve Your Company's Cash Flow
    1. Discuss Cash from Operations
    2. Discuss Cash from Investing
    3. Discuss Cash from Financing
    4. Discuss Common Cash Traps
    5. Discuss 3-month Cash Flow Projections
    6. Discuss How to Use This Information to Improve Cash Flow
    7. Discuss Sources and Types of Financing
    8. Discuss Basic Principles and Formulas of Firm Valuation
You can attend one, two, or all three of these sessions.  Even though the classes are FREE, we ask that you register so we will have enough handouts.  

This class will be taught by Ken Kauffman, founder and CEO of Kauffman Enterprice Solutions, LLC.  For more than a decade Ken has built a reputation as a leader who is respected for his integrity, work ethic, and commitment to lifting people and companies to new levels of achievement. Ken has served in several leadership roles, including CFO, COO, VP of Administration, and VP of Sales, in start-ups, mid-stage companies, and large multi-national corporations. His experiences cover a variety of industries, including construction, real estate, financial services, business services, medical/dental, distribution, and outsourcing.  In two of his executive roles, Ken helped a start-up grow to over $100 million in annual sales in just four years and he helped a medium-sized company almost triple its operations in just three years. Ken has served as a court-appointed receiver and has negotiated "workout" proceedings for several insolvent entities. He was recognized as the top producing manager in a Fortune 500 firm. He has developed and presented numerous business plans and financial forecasts that have successfully obtained the debt and/or equity financing required for growth.

**This event is funded in part through a cooperative agreement with the US Small Business Administration.
Registration is required for this class - click here to register now, or contact our office at 801-863-8230 or sbdc@uvu.edu.

UVU Incubator Office Space

Utah Valley University has recently implemented a program to assist start-up and existing small businesses with incubation services.  These services include furnished, triple net office space at a below  market lease.  Businesses that qualify will be located in Building L, Canyon Park Technology Center located at 1555 North Technology Way in Orem.  The University has prime space for 6 more businesses.  To qualify the business must meet incubator requirements. Anyone interested in this space can contact our office at 801-863-8230 or sbdc@uvsc.edu.

The Daily Herald wrote a story on our incubators.  This article can be viewed here.

QuickBooks- Intermediate Level - Wasatch and Utah Counties
Zion's Bank- 462 West 800 North Orem, Basement
Intermediate class will be taught on Tuesday, October 28
Sign in 8:00am-8:30am; Class from 8:30am to 12:30pm
Please park on the east side of the building

This class is cosponsored between Zion's Bank, Squire and Company CPA firm, and the Small Business Development Center at Utah Valley University.  The class is FREE with an optional (but highly recommended) intermediate step-by-step course syllabus available for $49.  This class will be a continuation of the class that was taught in September.  It will cover analyzing financial data, setting up inventory, tracking & paying sales tax, generating payroll with QuickBooks; estimating & progress invoicing, tracking time, customizing forms, and writing QuickBooks letters. 

This class will be taught by Jonyce Bullock, CPA and Certified QuickBooks Pro Advisor of Squire & Company, Certified Public Accountants and Business Consultants, Orem.  Jonyce graduated from BYU with a Masters Degree in Accounting with a tax emphasis.  Jonyce has over 12 years of experience in Accounting and 9 years experience in the technology fields.  Along with supporting clients with their QuickBooks needs, she has been a beta tester for Intuit since 2001.  This will be the best QuickBooks class you’ll ever take.

Light refreshments will be served courtesy of Zion’s Bank. The syllabus will be available for $49.  Space will be limited to the first 50 people (last time the class filled up fast so sign up early). 

Registration is required for this class- click here to register for the next class, or contact our office at 801-863-8230 or sbdc@uvu.edu  

The Entrepreneur Story                                                        
One of our past clients - Carolynn Duncan has written a 255 page PDF e-book called The Entrepreneur Story that is one of the best books Ken Fakler has ever read on entrepreneurship (plus it's a fun read).  This book gives real life information on entrepreneurship and relates the startup stories of over 70 entrepreneurs from all over the world.  Cost for the book is only $9.95.  For more information on this project visit: theentrepreneurstory.com/


7 Habits for Small Business Managers (3 sessions)
 Mountain Land Applied Technology College (987 South Geneva Road, Orem) Room 119
Thursday, October 30, 2008- 5:30-9:30pm
Thursday, November 6, 2008- 5:30-9:30pm
Thursday, November 13, 2008- 5:30-9:30pm

We need to have 10 people sign up before this class can be taught.

You have heard about the best-selling book, "7 Habits of Highly Effective People," by Stephen R. Covey.  This series of classes is the Small Business version.  You will learn and use these habits to help you manage yourself, lead others and unleash potential you never knew existed in your small business.  If you attend this exciting three-evening workshop, you come away with life-changing knowledge, skills, and tools to help run your small business more efficiently.  The SBDC is partnering with the State's Custom Fit training so there will be a nominal charge for this series of classes.  The charge is $198, and your company must be registered with the State of Utah.  (The normal fee for this session is $795, so it is a steal.)  The class will be taught by Alan Christensen who is employed as the director of the Snow College SBDC and director for the State's Custom Fit Training Program.  Christensen is a graduate of UVU, has a master's degree from USU, and is a certified trainer for Franklin Covey.

The following people can earn Continueing Education Units (CEU's) and CPE credits by taking these classes:

Educational Professionals

To register for this class contact Randy Reeves at 801-863-7649 or Roger Rice at 801-863-7514.  The registration deadline is October 22, 2008.  The maximum number of participants is 24, so don't delay in signing up for this excellent class.


Start Smart - Utah County
Geneva Building (1410 W 1200 S, Orem) Rm GB 203
Thursday, October 16, 2008 - 6:30-8:30 p.m.     

Entrepreneurial success begins with a FREE two-hour seminar on how to start a business.  Topics covered include: rewards & drawbacks of business ownership, business entry strategies, business planning, legal & regulatory requirements, forms of business ownership, sources of business financing, and sources of business assistance.

Who should attend? This seminar is designed for individuals and entrepreneurial teams who are thinking about entering the business arena, or interested in starting a new business, or buying an existing business.  Spouses and/or other family members involved in the venture are also encouraged to attend.  If you are currently in business, this seminar may be too basic for you.

Registration is required for this class - click here to register now, or contact our office at 801-863-8230 or sbdc@uvsc.edu.

**This event is also funded in part through a cooperative agreement with the U.S. Small Business Administration.

Internet Marketing (Intermediate Level) - Utah County
Geneva Building (1410 W 1200 S, Orem) Room GB 203
Thursday, October 23, 2008 - 7:00-9:00pm

This FREE class will focus on how to create a blog using free internet software to help you with search engine optimization (SEO). This "hands on" course will also cover key words you can use to get your website to the top of a Google or Yahoo search.

This class will be taught by Michael Eagar who has extensive experience as an entrepreneur, and manager for many Internet start-up ventures.  Some of the companies that Michael has been associate with are Novell, Provo Labs, My Princess Pearls, and USFamilytree.com.  Michael now owns his own company called Utah Labs which specializes in web development and search engine optimization.

Registration is required for this class- click here to register for the next class, or contact our office at 801-863-8230 or sbdc@uvu.edu  

**This event is funded in part through a cooperative agreement with the US Small Business Administration.

Fast Trac High Tech Class (11 sessions) Utah County                
Geneva Building (1410 W 1200 S, Orem) Room GB 203
This class will start in January if we have enough people enrolled.  The class will be held on Thursday evenings from 7:00-9:30 p.m.

This 11 week class will make your high tech entrepreneurial dream a reality (we are limiting this class to high tech ventures).  For other businesses see the Fast Trac New Venture class in this same newsletter.  You will combine your personal vision with your business concept and develop a business plan that will not fail to get you funding.  

This course covers: how to define your personal vision, how to create your business concept, how to define your target market after conducting marketing research, how to enter and capture the market, how to build and compensate your team, how to setup an accounting and financial plan, how to protect your intellectual property, how to get funding and work with investors, and how to manage your cash and operate your business profitably.

Program Components

Cost: The cost for all this business knowledge is a low, low $349.00 (includes the above listed program components). And at the end of the class you can receive $150.00 back if you complete a business plan and participate in class discussions. This makes your final cost less than $200.00!!  WOW, another bargain given by the SBDC at UVU.

This class is being taught by Michael Eager who has extensive experience as an entrepreneur, consultant, and manager for many Internet start-up ventures. Some of the companies that Michael has been associated with are Novell, Provo Labs, My Princess Pearls, and USFamilytree.com.  Michael owns his own company called Utah Labs which specializes in web development and search engine optimization.
Registration is required for this class - click here to register now, or contact our office at 801-863-8230 or sbdc@uvu.edu.

**This class is funded in part through a cooperative agreement with the US Small Business Administration.

Beginning Search Engine Optimization (SEO) - Utah County
We will hold this class when we have 10 people enrolled.  The enrollment should be that high in October.  This class will be held on Tuesday evenings from 7:00-9:00 p.m. or if you can't make that time, it will be held online at your convenience.  Registration is required for this class - click here to register now, or contact our office at 801-863-8230 or sbdc@uvu.edu.


SEO training is critical for anyone wanting to excel at Search Engine Optimization and to put your website at the top of the search engines.  Learn the latest skills and strategies to bring business to your website. You do not need to have a website to participate in this course (although it is helpful).  In this course you will learn:

You will also learn the following: introduction to SEO, Search Engine basics, SEO requirements gathering, keyword research, title and META tag creation, SEO copywriting, SEO integration, search engine and directory submission, search engine spam, SEO reporting and conversions, overview of SEO, site architecture, text content, dynamic content, graphics, flash and splash pages, frames and tables, link popularity, pay for performance, measuring SEO ROI, starting your own Internet business, the most important aspect of copywriting, and discovering what copy type fits your target audience best.

The cost for this class is $425 which includes:


Biz Smart Web Based Internet Entrepreneurial Training
The next session of this class will begin in October.  Contact our office to register for this class and with the exact start date.

Learn to create a business plan or grow your current business in the convenience of your home or business with a computer and this  nonacademic course.  Whether it’s after the kids are in bed, during your lunch break, or before the sun comes up, your in control of your learning schedule.  You don't need to be a “computer genius” or have a high speed connection to learn from this 6 week crash course in small business management and business plan development.  This course will require 5-6 hours of work per week in order to finish in the 6 week time period, but if you don’t finish, we will simply roll you over into the next class.

You will get:

  • Live training sessions with your Small Business Development Center coach in Orem.

  • Six online modules covering: Organization, Market Research, market Strategies, Accounting, Financing & Taxes, and Management & Implementation.

  • One textbook/workbook entitled, “Small Business Kit” published by Microsoft Press complete with a directory and template CD.

  • Online discussions with peers from throughout the state.

  • Continual feedback from a facilitator who can be reached at any time by e-mail or telephone.

  • On line resources with real-life information & experts in their fields.

  • This course will require 4 to 5 hours of homework per week to stay "on track".

Cost: $249 (includes materials, coaching sessions, chat-room discussions, everything).  PLUS you will receive $150.00 back to you when you complete your business plan & participate in the on-line discussions. YOUR Final Cost $99.00!!

Registration is required for this class - click here to register now, or contact our office at 801-863-8230 or sbdc@uvsc.edu.

**This class is funded in part though a cooperative agreement with the U.S. Small Business Administration.

UVU's Community Education Business Classes

These classes are taught under UVSC's Community Education Department.  Since the SBDC is partnering with UVSC's community ed department there is a nominal charge for these classes that will be paid to community ed.

Information on these classes can be found on www.uvu.edu/communityeducation

An example of Community Ed Business Classes are:

  1. Boot Camps for Fall 2008 Community Education
  2. Running a Business Oct 23-Nov 13
  3. Excel 2007 Beginning Oct 10-11
  4. Excel 2007 Intermediate Oct 24-25
  5. Web Page Design Beginning Nov 7-8
  6. Web Page Design Intermediate Nove 14-15
  7. MS Word, Excel, Power Point 2007 Sept 11- Oct 23

If you want to sign up for any of the classes call DeLayna Crockett at 801-863-8010 to register. 

New Management Analysis Tool- Gaining Focus™
The SBDC has a new business tool called Gaining Focus™ that will let you investigate the following areas of your business:

1) Tell you what your customers are thinking about your business and how it will affect your bottom line.
2) Let you pinpoint and target areas of your business that will increase your profits.
3) You can now purchase this informational tool at a high discount though the SBDC

Gaining Focus™ asks your customers, employees and vendors by email about your business, then analyzes their responses using a powerful small business model. Next, Gaining Focus™ produces a clear report and action guide based on the information from these important sources.  

You simply tell Ken Fakler the names and e-mail addresses of those you'd like to hear from, and he takes care of everything else. Ken Fakler will send invitations, collect the data, and analyze the results.  You get the information you need to know with confidence you need to succeed.  Gaining Focus™ is regularly priced at $159, but if you take advantage of the SBDC price, it's only $129! This is a wonderful management tool for a very competitive price.

For more information about this product contact: Ken Fakler at the Orem SBDC. Ken can be reached at 801-863-8230 or faklerke@uvu.edu

ACI Small Business Dashboard Assessment Tool

The SBDC has a new on-line course offering - the ACI Small Business Dashboard Assessment Tool.

This is an on-line assessment tool you can use to monitor all areas of your business (financial, human relations, marketing, operations, etc.).  As the dashboard instruments on your car give you detailed information to  monitor the efficiency of your car the Dashboard Assessment Tool helps you run your business efficiently.  

Through the Microsoft Live Meeting program and a simple conference call with our trained facilitator - Mark Holmes - you can receive detailed training on how to use this assessment tool for only $25.00.  If after the training you wish to purchase the Dashboard Software you can purchase the software for $95.00 less the $25.00 you paid for the training.  That makes the software cost an astonishing $70.00 - Another outstanding bargain from the Utah SBDC.  For further information contact Laurie Ann or Ken Fakler at 801-863-8230.

**This event is funded in part through a cooperative agreement with the US Small Business

MATC Customized Training & Certification

 Do you, your employees, or your company need any kind of training or certification?  Now you can get the State of Utah to help pay for the cost of that training or certification.  This is your Utah State Tax Dollars coming back to serve you.  The Custom Fit program funds a large portion of the training or certification costs.  The types of classes offered by Custom Fit are: Six Sigma; Learn Manufactoring; Purchasing Certifications; ISO9000 Certifications; Project Management; Team Building; Time Management; Spanish Classes; Human Resource Classes; Sales Training; Business Writing; Environmental Classes; Health Service Certifications; Forklift Certifications; All Kinds of Computer Classes; Computer Certifications; Automotive Technology Classes; Trade Certifications- there are many, many others also.  The classes can be tailored to your own industry and business, or they can be taught to specific individuals in your company.  And the State of Utah will help you pay for these classes.  

For more information on this program call Randall Reeves at 801-863-7649 or Roger Rice at 801-863-7514 or visit the website www.mlatc.edu/cf

Microbusiness Mentors (18 hours)
This class is taught in Spanish only by the Community Action Services in Provo.  This is not a class taught by the Small Business Development Center.  Microbusiness Mentors is an eight week course that includes small business training topics such as how to write a business plan, how to obtain a business license, insurance, marketing, accounting, product development and management.  The ninth week is a graduation ceremony where each person will present their business plan.  After the course, each person will be assigned a mentor to help them in their new business venture and obtain a micro loan.

For more information contact:

Amanda Stradling
Economic Self-Reliance Coordinator
Community Action Services
815 South Freedom Blvd.
Provo, Utah 84601
801-373-8200 ext 224
astradling@communityactionuc.org

Mentores para la microempresa

Es una programa de 8 semanas. El entrenamiento se compone de ocho sesiones:
Una fundación
Su plan de negocios
La organización
El mercadeo
Detalles legales
Registros y contabilidad
Presupuestos y cómo vender
Técnicas de administración

La novena semana es la graduación donde cada persona presentará su plan de negocios.  Después del entrenamiento cada persona recibirá un mentor para ayudarle en su negocio y un prestamo.



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