Course Outline:

Hour 1

• Discussion of what it actually means to be an entrepreneur and the difficulties associated with this path
• Discussion of the goal creation process
• Explanation of what is entailed in mapping and monitoring goals

Hour 2

• Discussion of the options available to massage therapists in terms of hours worked when starting a practice
• Discuss the advantages and disadvantages to sole proprietorships, partnerships, corporations, and limited liability companies
• Discussion of the sections and subsections of the business plan that would be used for a startup massage practice
• Explanation of the components of the general company description
• Discussion of the definitions and examples of practice strengths, weaknesses, opportunities, and threats
• Discussion on how to deal with business threats
• Discuss the importance of and strategies to differentiation and competitive analysis

Hour 3

• Discussion of different marketing channels and when they should be used
• Discussion of marketing products such as business cards, brochures, and promotional items
• Explanation of the process of creating business relationships from networking
• Discussion of some of the available marketing strategies for startup practices including both traditional and "splash" strategies
• Explanation of the location, licensing and legal, products and services, supplies and inventory, cash reconciliation, and policy sections of the operational plan

Hour 4

• Discussion of the many components of the financial plan including profit goals, a reserve account, leasing options, and funding.
• Discussion of the importance of confidence in numerical estimations and revision
• Explanation of how the business plan should be used in a massage practice
• Discuss the definitions of revenue, expenses, profit, and variable costs
• Explanation of how to use expenses, revenue, profit, and the number of client visits to update the business plan and track business goals
• Discussion of what to do in the event of down trending profits
• Discussion of metric analysis and the use of practice metrics for decision making