TRENTON, NJ – To foster the growth and success of entrepreneurs, the New Jersey Redevelopment Authority (NJRA) has launched a new small business course on Small Business 101: Wellness Check. The course, comprised of four sessions, aims to empower small business owners with the skills and knowledge required to make informed decisions, optimize their operations, and flourish in the challenging business world.
The inaugural session, Small Business 101: Wellness Check – How to Evaluate the Health of Your Small Business, is scheduled from 10 a.m. to 12 p.m. on September 12, 2023. The session will be virtual via Zoom. Pre-registration is required at https://cvent.me/nRWWvE.
Hosted via the NJRA’s Training Institute, the inaugural session is designed to equip small business owners with the practical knowledge and skills needed to assess their ventures’ overall health and performance. By delving into key performance indicators (KPIs) that measure growth, profitability, and resilience, participants will gain invaluable insights and strategies to enhance their business operations.
Throughout the course, participants will be introduced to a wide range of KPIs, methodologies, and best practices that effectively evaluate the health of small businesses. This training series will focus on the integration of existing programming, leveraging resources from various partners, and incorporating real-world examples and case studies
“Small Business 101: Wellness Check” is a dynamic program that caters to the diverse needs of small business owners. By the conclusion of the course, participants will be equipped to:
- Grasp the significance of business health in driving success.
- Conduct comprehensive assessments of their businesses, considering financial, operational, marketing, and customer satisfaction aspects.
- Identify industry-specific KPIs relevant to their business models.
- Analyze and interpret financial statements to gauge financial stability.
- Implement strategies for better cash flow management, cost reduction, and increased profitability.
- Develop marketing evaluation plans to enhance growth opportunities.
- Utilize data analysis techniques to discern trends and risks in their business operations.
- Evaluate the competitive landscape and conduct SWOT analyses for expansion.
- Create action plans based on evaluation outcomes to address weaknesses and capitalize on strengths.
- Cultivate a culture of continuous improvement by implementing feedback mechanisms.
Leslie A. Anderson, President & CEO of NJRA, emphasized the significance of bridging the gap between redevelopment efforts and supporting and retaining small businesses. “Our mission extends beyond revitalizing communities; it’s about empowering the very engines that drive these communities—small businesses. ‘Small Business 101: Wellness Check’ is a testament to our commitment to providing entrepreneurs with the tools they need to thrive in today’s competitive landscape,” she said.
Speakers for the session include Rose Marie Iskowitz, CEO and Digital Revenue Strategist at ClickStartBiz; Alex Rivera, Director of the Center for Economic & Workforce Development, Innovation, & Social Entrepreneurship at the John S. Watson Institute for Urban Policy & Research; and Wayne Staub, Chief Business Relations Officer at the New Jersey Business & Industry Association.
The remaining sessions in the “Small Business 101” series will encompass a range of valuable sessions to support small business owners further:
- Small Business 101: Getting Your Financial House in Order: This session will provide essential insights into financial management, budgeting, and optimizing resources for enhanced financial health.
- Small Business 101: Digital Marketing/Advertising Resources to Build Your Business: Participants will learn about digital marketing strategies, online advertising platforms, and leveraging digital resources to expand their market presence.
- Small Business 101: Workforce Analysis and Economic Outlook: This session will analyze workforce needs, labor market trends, and understanding the economic landscape to drive informed staffing decisions.
–With Ricky Rillera/PDM