Transcript $tarting a Business... Is It for You? Entrepreneurship, Value Retained & Louisiana Strawberries Presented by: Scuddy J.

$tarting a Business...
Is It for You?
Entrepreneurship, Value Retained
& Louisiana Strawberries
Presented by:
Scuddy J. LeBlanc & Deborah C. Cross
LSU AgCenter – Community Economic Development
Agreement
The LSU AgCenter, through its Department
of Ag Economics and Agribusiness and its
Cooperative Extension Service, will
investigate ways of strengthening the
viability of the Louisiana strawberry
industry, and it will conduct educational
activities to increase the awareness of and
appreciation for the local strawberries
among consumers.
Agreement
(Continued)
The LSU AgCenter will conduct:
 An entrepreneurship workshop
 A strawberry tour for the media
 Research on the merchandising of
Louisiana strawberries in retail outlets
Strawberry Media Tour
2003
Ponchatoula High School
William Fletcher Farm
Eric Morrow Farm
Ponchatoula, Louisiana
Testimony on the Media Tour
“The media tour is a true success story
because of the partnerships that have been
fostered with the AgCenter, the Strawberry
Festival and the industry, thank you for
your contribution.”
-Dr. Pamela Hodson, Southeast Region Director
LSU AgCenter
Media Coverage of the
2003 Strawberry Tour
 Times Picayune Food Section feature story
 Louisiana Farm Bureau News
 news article
 television show
 radio show
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Local cable television
The Hammond Daily Star – 2 news articles
The Ponchatoula Enterprise – news article
Louisiana Network News - 2 radio interviews
LSU AgCenter News - photo & news article
Strawberry Media Tour
2004
Springfield High School
Hammond Research Station
Media Coverage of the
2003 Strawberry Tour
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WWL-TV television news show
Louisiana Network News radio network
The Hammond Daily Star news article
The Livingston Times news article
Times Picayune Food Section feature
story
Value-Retained Ag
Entrepreneurship Paper
Scuddy J. LeBlanc
Deborah C. Cross
Community Economic Development
Why Do Farmers Need ValueRetained Options?
 Farmers received less than 21% of the nation’s
retail food dollars in 1997.
 In spite of the farmers receiving less for their
products, food prices are rising.
 Retail food prices are more costly because of
rising costs of labor, transportation, packaging,
food services, and marketing.
Definition
Value-added entrepreneurship includes
increasing the value of farm products
through further packaging, through marketing
techniques, as well as increasing the value
of agricultural products through further
processing.
-University of Tennessee Agricultural Extension Service
Do Farmers Need ValueRetained?
“Value-retained” activities provide ways for
farmers to receive more income from their
products that is normally captured after the
commodity or product leaves the farm.
$tarting a Business . . .
Is It for You?
Entrepreneurship Workshop
Across our country,
citizens are reaching out
to grasp their piece of
the American Dream...
and the opportunity to
be their own boss….
The potential business owners of
the future come from all walks of
life, and have backgrounds as
diversified as their faces.
$ Some live in rural areas…
$ Some live in the suburbs…
$ Others live in large cities…
However, all business owners
have three things in
common…
$ INDEPENDENCE
$ INITIATIVE
$ IDEAS…
They also fear the
same things…
Small Business owners say their planning is
most vulnerable in the following areas. . .
30%
25%
20%
15%
10%
Recession
Retirement
Capital
Unexpected Growth
Succession
5%
0%
Source: 501 small business owners surveyed by USA Today –
September 2003
Starting a Business… Is it for
You?
$ Designed to help micro enterprises
and home based businesses to get a
start.
$ Show the importance of a Businesses
Plan.
$ To help the Entrepreneur to think
through the process.
$ To get them ready to work with their
local SBA.
The Program Includes…
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Deciding to Start a Business
Organizing Your Time
Types of Businesses
Evaluating Business Ideas
Web-based, Global and Franchise
Businesses
$ The Business Plan
$ Finding Financial Resources
Deciding to Start a
Business
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What attracts people to start a business?
Why you're interested in starting a business?
What makes an Entrepreneur?
How your family relates to the business?
You’re personal commitment?
The pros and cons of owning a business.
What personal talents and skills do you
have?
Organizing Your Time
$ Investigate your personal decisionmaking style.
$ How to improve your ability to balance
choices?
$ What are your time wasters?
$ Do you procrastinate?
$ How do you handle a crisis?
$ Special time strategies when working
from home.
Types of Businesses
Their advantages and
disadvantages
$ Sole Proprietorship
$ Partnership
$ Corporation
$ Protecting your ideas . . .
 Copyrights
 Patents
 Trademarks
Evaluating Business
Ideas
$ Manufacturing
$ Home-based business
$ Marketing or sales outlet
$ Buying an established business
Web-based, Global and
Franchised
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Internet/worldwide web
Benefits
Making money on the Internet
User friendly Web site
Promoting the Web site- “Key” words
$ Strategies for small firms as a global
enterprise
$ Franchise types, advantages and limitations
The Business Plan
$ What is it?
$ Why do you need one?
$ How much planning is necessary?
$ Serves as a tool for raising capital.
$ Use as a managing tool.
$ What is an “effective business” plan?
Finding Financial
Resources
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The 5 Cs of “Credit”
Where will the money come from?
How much will you need?
What kind of collateral will you need?
Financial information required for a loan
SBA Loans
Short-term business loans
Other types of business loans
Other Topics Covered in
Program…
$ The Big Picture
Creating a financial plan
$ Customer Service
$ Exit Strategies
$ Case Studies
For More Information Please Contact:
Deborah C. Cross
Area Agent- Community Economic
Development
LSU AgCenter
Phone: 225/642-2044
E-mail: [email protected]
Research Interim Report
May 12, 2004
Contact: Dr. Roger A. Hinson
[email protected]
Cooperators:
LSU Department of Ag Economics &
Agribusiness
Ponchatoula Strawberry Festival, Inc.
Ponchatoula High School
Springfield High Schools
Hammond Research Station
Tangipahoa Economic Development
Southeastern La. University SBDC