The Collierville Chamber of Commerce convened the year’s first Lunch & Learn presentation on January 30. The attendees packed the Chamber’s conference room to hear an informative presentation by SCORE representatives about creating a business plan and its importance in determining potential success or failure of a new business.
Patriot Bank Mortgage is the presenting sponsor of the Lunch & Learn 2020 curriculum is all presented by SCORE, the nation’s largest, all-volunteer small business counseling service and a research partner of the U.S. Small Business Administration.
Lanny Oakes, a former insurance industry executive, walked participants through the elements of developing a business plan, a vital part of any new business as it scopes out potential funding and operating revenue. Oakes detailed the three major elements of outlining and developing a small business plan, from the initial phase of being able to express the idea for the business in less than 30 seconds to the development of an executive summary and a detailed explanation of the financial plan, the marketing plan, and the operations plan.
Oakes’ direct approach to each subject offered easy-to-remember questions for potential business owners to ask themselves: Regarding finance, “Where will the money come from for both opening and operating expenses?” In marketing, “Who are my customers, or who will buy my goods or services? And, when it comes to operation, “Who will do what?”
The Lunch & Learn series is just one of several programs designed for Chamber members to learn, to connect, and to grow with fellow members. A list of Chamber programs can be found here.