Fall 2021 Small Business Hackathon Series
Creating Financial Projections
During this Small Business Hackathon session, business owners will gain an understanding of the inputs needed to create a 36-month financial projections model for their business. At the conclusion of the session, they should have a completed financial model spreadsheet that they can continue to refine on their own as they get more information. To prepare for this session, they will make a list of their products/services and the corresponding prices, a list of their costs to produce the product/deliver the service, a list of overhead expenses, and their cash balances. If they use financial management software, they will also bring their income statement, balance sheet, and cash flow statement.
Driving More Traffic
to Your Website
Having a website is a start, but that alone isn’t enough to impact sales. During this Small Business Hackathon session, business owners will gain an understanding of strategies for getting more people to see and engage with their website and ways to use their website to drive sales. Together, you will discuss ways to get more people on the site and opportunities to convert visitors to customers. At the conclusion of this session, they will leave with suggestions for improving their website effectiveness and recommendations for driving more traffic to their website.
Creating a Competitive Analysis Chart and/or SWOT Analysis
Knowing what the competition is up to is the first step in identifying competitive advantages, a key component of marketing, and a driver of a business's sales approach. During this Small Business Hackathon session, you will discuss the strengths and weaknesses of your business owner's primary competitors, determine their market sweet spot, and identify the attributes that form the foundation of their competitive advantage. At the conclusion of this session, they will have a competitive overview chart that communicates how their business is different and why it is the right choice for their target audience.
Creating Social Media
While social media is all the rage, it can be time-consuming and overwhelming for busy business owners. During this Small Business Hackathon session, you will discuss your business owner's preferred social media channels, the volume of posting that makes sense for them and their business, and the type of content that resonates with their audience. At the conclusion of this session, they will have a posting schedule and sample posts including hashtags to help them pick up the pace of their social media activity.
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The Institute for Entrepreneurial Leadership (IFEL), founded in 2002, is an independent, 501(c)(3) nonprofit organization that supports economic development through entrepreneurship. We are experts in creating and implementing small business programming in support of larger economic development objectives. Our services and programs help ambitious “every day” entrepreneurs gain access to the knowledge, networks, and capital necessary to succeed in business.