The Enterprise Development Team supports small businesses and start-ups around Iowa with a complete range of services, turning initial ideas into successful businesses.
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This podcast series is a collaboration between Iowa State University Extension and Outreach programs including Community and Economic Development, Farm, Food, and Enterprise Development, and the Iowa Small Business Development Centers. We offer topics on education, research, and technical assistance for Iowa’s small businesses.
Listen to all episodes on the player at right, or go to the podcast page to find all episodes plus transcripts and bonus material.
Our clients: small business owners, entrepreneurs, start-ups
Business Feasibility Study
We provide review and compilation of a business feasibility study for startups, new product development, or businesses wanting to diversify into another product or marketplace. Includes a contract for services with the business and an identified scope of work and deliverables. This study typically is conducted prior to developing a business plan, and in many cases serves as a foundation for development of the business plan.
We have initiated an entrepreneurship training program called LaunchU which incorporates business plan feasibility into a formal business plan when the course is completed. This program covers 11 chapters: Communications, Feasibility Research, Products and Services, Market Analysis (industry and Competition, Market Segments and Strategies), Price and Profitability (Pricing, Breakeven, Sales, Operating Costs, Cash Flow), Legal Structures, and Feasibility – Business Plan Document.
Business Plan Development
The team also assists with food or ag business plan development for clients. We use LivePlan® and BizMiner with clients face to face and remotely through the software. These business plans also include a pitch section which can be presented to traditional and non-traditional financial sources.
Business Feasibility Analysis
The final program element is Business Feasibility Analysis. This fee service provides a client with a completed business plan including three years of financial projections and a formal analysis documenting any issues with the business and/or economic models. We typically provide an overall statement of our review as well as an Executive Summary, Market Analysis, Technical Review, Economic Impact, Management Review, and Financial Analysis. An appendix provides resources and a projected profit and loss statement, balance sheet, and cash flow analysis.
This program integrates with other service providers as appropriate. Our food systems team may provide broad food industry research in a community or region or type of food product; the small farms team may provide research on a specific niche within the food industry or trends with small farm production. Externally, we work with the Small Business Development Centers, USDA Rural Development, the Iowa Area Development Group, Iowa Institute for Cooperatives, Iowa Bankers Association, Iowa Finance Authority, Professional Developers of Iowa, and others.
Our Enterprise Development Team is led by Brian Tapp, (515) 294-4417.
Other staff members include: Victor Oyervides (retail and Latinx business specialist); Connie Hardy (food and feed grain business specialist); and Duane Johnson (small business consulting, financial analysis).