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ENTREPRENEURSHIP
Although entrepreneurship has always been an option in our career transition programs, preparation for entrepreneurial endeavors is now offered as a stand-alone program, which is a reflection of the fact that half the population is expected to become self-employed by the end of the century. Consequently, many managers and executives will opt to prepare themselves to start or purchase businesses, buy franchises or become consultants as a result of the trend for organizations to reduce fixed cost overhead by outsourcing functions previously provided internally.
The Entrepreneurship program has been designed by and is delivered under the direction of Norman York, whose own entrepreneurial background provides special insights and experiences that have assisted many of his candidates since 1985 to start their own successful businesses. After twenty-five years in teaching and working in the corporate world, Norman started or managed seven small manufacturing, retail and service businesses, plus a management consulting practice. In so doing he has learned from a wide range of experiences, many of which are shared with those seeking new business ventures or self-employment options.
The Entrepreneurship Program is a comprehensive, interdependent process that is designed to work developmentally in a serial mode in which each phase can be elected at the option of the candidate upon completion of the previous phase or phases.
Phase I, Diagnosis and Assessment
Determining one's suitability for such an endeavor is critical to an individuals success. This portion of the process requires the use of both standardized and rapport testing, with the former administered by a management psychologist. Formal assessment is coupled with the understanding of three critical variables that predict success and eleven characteristics that profile successful entrepreneurs. Finally, both spouses, where applicable, are oriented to a multi-dimensional decision model to set objectives and to determine strategies.
Phase II, Skills Development
If the results of Phase I are predictively positive, the candidate may elect to move to the second portion of the process wherein he or she will work through a variety of learning experiences that include:
- Business Plan Development
1. Mission Statement
2. Product or Service Description
3. Market Analysis
4. Marketing Plan
5. Principal Vitas
6. Financial Statement Pro Forma
Phase III, Implementation
This phase can be elected as an option upon completion of Phases I and II and consists of on-going counseling support usually for a period of one year. Additionally, the candidate may elect physical support for that period of time that includes office space, long distance telephone and fax, electronic research, postage, stationary, use of a PC, secretarial support, use of a business reference library, and voice mail.
Additional optional features include the use of a financial planning specialist, an attorney to help identify legal and estate issues, and a communications consultant.
The instructional program is augmented with actual case studies of former candidates who have developed successful businesses and is enriched by the use of appropriate text and audio/visual references as well as electronic databases.
Key features of this program include:
- The direct experience of a facilitator as an entrepreneur with both start-up and turn-around situations.
- The comprehensive characteristics from idea through implementation.
- The flexibility of the program to allow the candidate to choose subsequent portions or dimensions of support.
- The consistency of consultation and support that increases the likelihood of success of the venture.
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