For the past 35 years, Seattle University’s Small Business Institute (SBI) program has provided free and low cost consulting services to over 2,000 small businesses and nonprofits. This winter quarter, SU professor and SBI Director Dr. Harriet Stephenson will be teaching two undergraduate classes of students who will provide an overall analysis for businesses and nonprofits. This analysis consists of:
- defining the business and its mission
- establishing goals or where you want the business to be a year and five years from now including revenue and profit goals
- assessing where the business is now–strengths, weaknesses, opportunities, threats; which usually includes marketing research to help identify target market(s), develop an appropriate Internet strategy, and construct a rudimentary marketing plan
- performing cash flow projections and a pro forma P&L and balance sheet for one year
- recommendations for action to help achieve those projections and goals
The analysis is a ten-week project which coincides with the academic quarter. Each business is assigned a team of 2-5 students, who invest 70-120 hours each to the project of the course of the quarter. The owner or executive director of the organization receiving consulting services is expected to invest an average of 20 hours during the quarter meeting with their student team. Organizations with an annual income/sales/revenue of $300,000 or more and startups with a projected first year sales of $300,000 or more will be asked to pay a $500 administrative fee. Any business whose revenue falls under $300,000 will not be charged.
Organizations will be considered for the program if they 1) have 1-50 employees, 2) are willing to have their student consultant team review their prior financials (such as P&L statements and balance sheets), and 3) register online before the program begins on January 4th – the sooner the better. If you think a comprehensive small business analysis would benefit your organization, sign up today!