1. Developing Your Family Child Care BusinessEwing Marion Kauffman FoundationModule 1 Exploring Business Ownership Session 1Facilitator: Janet Owen, M.Ed. Smart Beginnings Appalachian Region Coordinator

2. Welcome to our 1st session Exploring Business Ownership.I am so happy to have you join us. 3. Introduction of FacilitatorO Janet Owen -Currently serving as Coordinator for the Smart BeginningsAppalachian Region made up of Lee, Scott, and Wise counties and thecity of Norton, VAO Bachelors degree in elementary education w/ early childhood certificationO CDA credentialO Master of Education in Reading w/ emphasis on early literacyO25+ years of working with young children in:Christian Schools: preschool, kindergarten, 1st gradeteacher, earlychildhood directorHead Start: teacher and mentor teacher (on-site director for program serving 60 low income children & families,supervised 13 employees)Public School Teacher 1st grade, Title I reading, & TN Pre-Kteacher(8 yrs.)O Tennessee Professional Teaching Certificate w/ endorsements in Elem.1-8, Early Childhood Pre-K-3, & Reading Specialist Pre-K 12O Married for 30+ years to a minister and currently residing in Kingsport,TN, 2 grown & married children Ashlee & Jared 4. Look at page 1 in your Participant ManualO Goals for Module 1:O Distinguish among the three roles played by a familychild care business owner.O Discover your own strengths and weaknesses inrelation to the three roles of a family child care businessowner.O Write and evaluate your own business conceptstatement.O Recognize the scope and value of the businessplanning process.O Module Outline 5. What Is My Vision? The goal of thisprogram is to help you create the family child care business YOU envision.O Whats an Entrepreneur?O 3 Traits of Entrepreneurs: 1. Recognize opportunity: 1. Identify an unmet need or want 2. Identify a product or service that meets thatunmet need or want 3. Confirm that people will pay for the product orservice. 6. O 3 Traits of Entrepreneurs (continued)2. Leverage resources: 1. Determine what resources they need. 2. Determine where to get those resources. 3. Determine how to get those resources. 7. O 3 Traits of Entrepreneurs (continued) 3. Manage risk: 1. Educate themselves about the potential risks or problems. 2. Plan to reduce or eliminate those risks or problems. 8. Activity 1.1 The Story of the ThreeLittle Pigs from an EntrepreneurialView 9. And they lived happily ever after! 10. Take 3 minutes to answer questions 1-6on pages 3-4 in the ParticipantManual.O The last two questions are the mostimportant.O Doing things in an entrepreneurial way inpart means: O planning ahead O imagining what might get in the way of achieving your goal O figuring out how to be prepared for obstacles when they appear 11. Entrepreneurship and Me page 5O Your first entrepreneurial decision was to start your ownfamily child care business.O Be clear about what you want from starting andoperating a family child care businessMe + Business Reality = A Fit?Look at Activity 1.2 beginning on page 6. Write youranswers to these questions before the next session.Determine how closely the family child care business fitsyour personal goals and life style. Spend time thinkingabout the Reflection questions on bottom of page 7 beforethe next class. 12. What Hats Do I Wear?O Introduce 5 Icons page 8 in Participant Manual: Child Care Provider, Entrepreneur, Business Manager, Business Plan, & Parent HandbookO 3 Roles of a Family Child Care Provider: O Child Care Provider loves, appreciates, & respects children & is happiest when caring for them O Entrepreneur recognizes opportunities, envisions even better business, & imagines playing significant part in creating brighter future for children O Business Manager sets policy, gets needed governmental approvals, monitors cash flow, & deals with the IRS Which role best describes how you think of yourself? 13. Are the 3 legs of this stool equallyimportant? 14. Family Child Care Business OwnerBusinessManagerChild Care Provider Entrepreneur 15. This Family Child Care Business program will help you strengthen yourskills as Entrepreneurs and BusinessManagers.O Business Plan will be created later in this program. It willserve as guide to developing a solid family child carebusiness.O Parent Handbook will be created later in this program. Itis a tool to communicate to parents the nature of yourbusiness and your program policies.O Well focus on each of 3 roles of Family Child CareProvider by itself after a 10-minute break. PAUSE THIS SESSION AND TAKE A 10 MINUTE BREAK 16. The Child Care ProviderO Read The Child Care Provider on page 9 in theParticipant Manual.O List 3 key details about the Child Care Providerrole O Loves, appreciates, and respects children and is happiest when caring for them O Provides developmentally appropriate interaction and services O Promotes the health and safety of all children being cared forThese details relate to the Parent Handbookbecause they establish credibility and reassurecustomers of quality. 17. Activity 1.3 The Child Care ProviderLoves ChildrenO Take 3 minutes to write your answers to the nine questions onpage 10O Child Care Connect Resource & Referral Agency: Sherry Tabor, Program Manager Ph. (276) 386-9881 Fax (276) 386-3387 stabor@appcaa.orgO Reflection Questions What strengths do I bring to my child care business? How can I improve my answers to questions 5-8? Does my answer to question 9 limit my chance of success? Think about these questions at home before the nextsession. 18. The EntrepreneurO Read The Entrepreneur on pages 11 & 12 in your ParticipantManual.O List the 3 key details about the Entrepreneurs role O Identifies opportunity already done O Manages risk willingness to take a calculated riskGo beyond what is familiar and safeWilling to risk failure success rests on ability to plan andputthe plan into ACTIONWilling to risk losing money invested in thebusiness to get it up & going Willing to risk losing ongoing incomewhile getting the business started andoperational.Look at the TIP at bottom of page 11. O Leverages Resources asking for help when its needed iscritical to the success of any business.Look at the list of those you need to know & why you need toknow them at bottom of page 12. 19. Activity 1.4 The Entrepreneur ManagesRisk O Look at the questions on page 13. Write the answers to them before the next session. There are NO right or wrong answers. O Look at the Reflection Questions on the bottom of page 13What risks will be the most difficult for me?What can I do to reduce my risks?I will know its not working out if/when_________________.I am willing to invest up to $________ to getstarted.I am willing to go without income until__________(date). Think about these key questions before the next session. 20. Activity 1.5 The EntrepreneurLeverages ResourcesO Look at page 14 in your Participant Manual. This activitywill help you understand your resources as a family childcare entrepreneur. Knowing your resource people will helpyou write the Management and Organization section ofyour Business Plan at the end of Module 3.O Take 3 minutes to fill out the chart on page 14.O Continue to think about & make notes of your potentialresources before you come to the next session. PAUSE THIS SESSION AND TAKE A 10 MINUTE BREAK 21. The Business ManagerO Read The Business Manager on page 15 in yourParticipant Manual.O List some things the Business Manager does:Set policyGet governmental approvals Monitor cash flow Deal with the Internal Revenue ServiceO Look at TIP on page 15.O Business and personal finances should be keptseparate. 22. Activity 1.6 The Business Manager Supervises OperationsO Look at pages 16 & 17 in the Participant Manual. These detailsrelate to the Business Plan and Parent Handbook you will bewriting. You can use this information in both your ParentHandbook and in the Operations section of your Business Plan.O Take 5 minutes to write your answers to the 10 questions onpages 16 & 17. There are NO right or wrong answers. You willneed to start thinking about these kinds of details and specificsbefore starting your business.O Look at the Reflection Questions at the bottom of page 17:How confident are you in your ability to handle all thebusiness responsibilities reflected in thesequestions? Which ones could you use help with?Who can you ask for help? Continue to think about these during thissession & at home. 23. Activity 1.7 The Business Manager Oversees FinancesO Look at pages 18 through 20. These details relate to theBusiness Plan. If you must look for outside financing, yourpersonal finances will become part of the Financial section of theBusiness Plan. The key to gaining financing is being in goodfinancial shape.O Answer the 6 questions on page 18.O Fill out the Small Business Administration Personal FinancialStatement on pages 19 and 20 before the next session. No onehere will see your answers.O Look at the Reflection Questions on page 18: What areas of my personal finances need the mostattention? Where can I find help for my personal finances? How long will it take for me to clear up anypersonal financial issues I have discovered? 24. Activity 1.8 Summarizing the ThreeRoles of a Family Child Care BusinessOwner O On page 21 in your Participant Manual, take 5 minutes and write in the tasks you perform every day in a child care business according to the 3 hats you wear. O Look at the Reflection Questions on page 22 in your Participant Manual.Do I spend enough time in each role? Do I manage an appropriate balance among the roles? If not, what do I need to change? Which of these tasks could be done more effectivelyby someone else? Continue to think about these key questions duringthis session & at home. 25. Session 1 SummaryO On page 23 of your Participant Manual, focus on Things IWant to Remember. Take 3 minutes and write down yourkey learnings from this session.O Look at Things to Do Before the Next Module. O Complete Activities 1.2, 1.4, & 1.7. O Contact one of the following child care associations to inquire about membership fees, subscriptions to newsletters, & other services. O Write, email, or call your local Child Care Resource and Referral Agency and ask for information about services provided to family child care entrepreneurs.