Business Development

Chris Thompson, Business Development Specialist (BDS)

 

 

Extension’s Business Development program economically and qualitatively improves people’s lives through researched based business education designed to enhance the state’s economic development.  In addition to the local business specialist, program delivery occurs through a statewide network providing counseling, educational programs, consulting, and referrals.  These services also include government contracting assistance and commercialization of technology. 

 

Extension’s business and economic impact in Cole County:

 

 

Statewide the Business Development Program results are:

 

Business Counseling

Satisfaction with counseling services is measured by surveys conducted by the state office.  Responses by clients served by the Cole County BDS revealed that:

 

Sample business comments from the surveys include:

·         “Chris Thompson took our original business plan and helped us to create a more practical and easier to implement version. The pitfalls he helped us to avoid were not obvious to us and did not surface with other resources we consulted.”

·         “Mr. Chris Thompson is an excellent advisor!”

·         “Great service, prompt, will recommend to others, thanks”

 

Counseling includes all contact between the Extension staff and clients where business-related information, advice, and assistance are provided.  Means of contact include telephone calls, e-mail, conversations, informal meetings, formal counseling sessions, and exchanging written or electronic documents. 

 

During 2008, 106 individual clients received assistance from the Cole County Extension Center.  These clients generated 270 separate contacts.  The majority of clients resided in the two counties served by the Cole County BDS although individuals from 9 other counties were also assisted.  The most common assistance topics related to starting a business, financing, and business planning. 

Forty-seven clients received assistance that is reportable to the Small Business Administration (SBA), a 30% increase from the previous year.  Any private, for-profit, small company receiving more than one hour of assistance is reported.  Although only 44% of the clients were classified as “reportable”, they received 92% of the assistance efforts.  The average time spent assisting a reportable client was 6.9 hours.   Non-reportable clients usually involve a single contact with the client receiving less than 1 hour of assistance.  The 59 non-reportable clients received the remaining 8% (or 22 hours) of the counseling effort. 

 

Educational Programs

Satisfaction with the training programs is measured immediately after the class.  The 2008 results:

 

 

 

Student comments from the after class satisfaction surveys included:

 

In 2008, 38 programs addressing 14 different subject areas were offered.  Of these 32 programs in 12 subjects were conducted.  A table shows the breakout of programs offered in Cole County. 

 

2008 Program Summary

Program Summary – Cole County Offerings Only

Program

Courses

Conducted

Courses Offered

Attendees

Starting a Small Business – The First Steps

5

6

10

DHSS Start & Manage

3

3

148

How to Write A Business Plan

6

7

15

Understanding Financial Statements

3

3

9

How to Control Cash Flow

3

3

5

Predicting Cash Needs

3

3

6

Quick Books for Beginners

2

2

17

Foundations of Marketing

1

1

2

Business Performance: Measure, Manage, Succeed

0

2

0

Pricing For Success

2

2

3

Metro Business College – How To Start

2

2

29

Listening to Your Business

0

2

0

Business Plans 101

1

1

9

Market the Noun vs. Marketing the Verb

1

1

15

Totals

  32

 38

 268

 

The relationship with the Department of Health and Senior Services (DHSS) continues.  The Cole County BDS continues to instruct the business curriculum for the In-Home Care Giver qualification course.  Successful course completion is required for state certification.  The course is conducted quarterly in Jefferson City for businesses throughout the state and is an excellent opportunity to expose businesses in this industry to Extension’s business development services. 

 

State Fair Community College (SFCC) offers business programs as part of their evening outreach curriculum.  The Cole County BDS conducted three programs addressing starting a business and business plans during 2008 at SFCC. 

 

Two business programs were offered in Warsaw through their Main Street organization.  This organization does all the advertising and registrations; the instruction and materials are provided by the Cole County BDS.  The programs offered were Marketing the Noun Vs Marketing the Verb and Business Plans 101.  Both programs are 1.5 hours long, although due to student interaction, the Market/Marketing program lasted two hours.

 

Consulting

This is a new line of services for the business program and the Extension Center.  Consulting involves the BDS providing a fee-based service to the client.  The scope of service is significantly greater than counseling and involves the BDS performing a service that most often could/should have been done by the client.  The “production” aspect of the service is the distinction between counseling and consulting.  A full range of consulting service lines are still being developed at the state office; services are currently available:

 

In 2008, two market research studies were completed.

 

Community Support

The Jefferson City Chamber’s increased emphasis on small business is generating a greater need to support chamber programs.  Involvement in the Chamber’s activities now accounts for 6% of BDS time.  These activities include:

·         Serving in the local Service Corp of Executives (SCORE) chapter (hosted by the chamber)

·         Participating in and assisting with the Business Showcase

·         Serving on the Chamber’s Small Business Development and Resource Committee.  The Cole County BDS is co-chair for 2008 and 2009

·         Serving on the Workforce Council

·         Participating in and helping plan the Chamber’s Micro Business Expo

·         Being the presenter at three chamber sponsored seminars, assisting in the planning and coordination of the seminar series

·         Planning with the chamber to co-sponsor and conduct a small business academy

 

Extension’s Community Economic & Entrepreneurial Development (ExCEED) is a program focused on economic development opportunities in rural communities.  ExCEED uses multi-disciplinary and geographically based teams to facilitate rural entrepreneurship.  Several counties in the Central Region are participating in the program.  The Cole County BDS was involved in the ExCEED project involving Morgan, Miller, and Camden Counties as part of his regional responsibilities.  The commitment has not curtailed the support provided to Cole County. 

 

Plans for 2009

The most significant new event for the upcoming year is the Small Business Academy.  The Academy provides small business owners the opportunity to plan the growth of their business.  Using a curriculum developed by the Kaufman Foundation of Kansas City, participants will participate in a ten 3-hour sessions.  The first session is January 14; the last session is March 25.  The first three sessions focus on setting the future direction of the participants’ company; the remaining sessions address the action steps.  At the program’s conclusion the business owner will have prepared a growth plan.  Businesses must apply for selection.  The first year will be a pilot program in which the Center will breakeven in terms of cost.  Subsequent iterations will be priced to generate revenue for both the Center and the Chamber. 

 

The business development program is placing much greater emphasis on creating and collecting measurable impact and generating revenue.  This emphasis will continue in 2009.  Impact primarily occurs through counseling, revenue comes from training and consulting.  In a change from previous years, some programs will not be offered while other programs, specifically the start up and business plan classes will be offered monthly. 

 

Forty-one programs in 13 subject areas are currently scheduled for 2009, not including the Academy and programs offered in other counties.  It is possible that the number of offerings may have to be reduced to focus on other priorities.

 

Sponsorships are another source of revenue.  Sponsorships provided by local businesses are used to help pay for advertising. 

 

The business program will be activating more committees during the year.  Involvement on one or more of these committees is expected.  The commitment of time and the resulting effect on impact and revenue generation is not known at this time.

 

Participation in the ExCEED program will continue.  However, if the program does not generate impact or revenue the program will not receive the same priority as other counseling and training programs.