June 2. This session is part 2 of customer discovery, focusing on customer segmentation and identifying competition. Participants explore who their customer is and how to validate whether a real market exists for their product or service.

A guest speaker guides participants through customer segmentation—including demographic, psychographic, and behavioral segmentation—helping them think more strategically about their target audience.

The class also includes a review of data provided through the Mississippi Secretary of State and other partners, including buying habits, Warren County demographics, market potential data, and NAICS-based industry and competitor reports. This information helps participants measure demand, identify competitors, and evaluate whether their concept addresses a meaningful market need.

June 9. This class addresses a common challenge for new businesses: failure to execute sales and marketing effectively. Participants examine how they will build relationships with customers and the channels they will use to reach, serve, and retain them.

A guest speaker leads discussion on customer relationships, sales strategy, and marketing channels, including the top five free or low-cost channels that entrepreneurs can use to attract and grow customers. Participants then complete a hands-on activity to identify which relationship strategies and communication channels best fit their own business.

June 16. This class tackles one of the most common and costly startup errors: spending too much money. Participants are guided through how businesses generate revenue, what it costs to operate, and what financial tools are needed to understand profitability.

Guest speakers introduce a range of funding and capital access options, including:

• A banker discussing SBA loan programs and what lenders look for
• A representative discussing microloan opportunities
• A presenter covering SBIR and STTR funding opportunities
• Investors or other capital partners who can offer perspective on readiness and funding expectations

Participants are also introduced to important financial concepts through a glossary of terms such as fixed versus variable costs, direct versus indirect costs, and economies of scale. In addition, they review real business considerations that affect profitability, including seasonal trends, annual obligations, emergencies, growth, and reinvestment needs.
The class includes a detailed review of financial documents such as a statement of financial need, projected financials, expense schedules, amortization schedules, 24-month cash flow projections, sensitivity analysis, break-even cash flow, and balance sheets for assets and liabilities.

The hands-on activity requires each participant to develop a draft monthly budget using estimated costs, with follow-up homework to replace estimates with actual numbers obtained through research and vendor outreach.

June 23. This session addresses another major startup mistake: failing to ask for help. Participants are introduced to the key professional relationships and partners necessary to build a solid business foundation.

A legal professional discusses business formation and structure, including LLC formation, operating agreements, annual reporting requirements, and the value of legal support for contracts, non-compete agreements, and intellectual property matters.

An accountant explains how strong accounting practices can save money, improve compliance, and support better business decisions, including assistance with tax preparation and chart of accounts setup.

By the end of this session, participants gain a clearer understanding of the professional partners they need and the role those partners play in reducing risk and supporting long-term growth.

June 30. This session focuses on the operational side of the business. Participants identify the key activities that will distinguish their company from competitors and the resources needed to carry out those activities effectively. In addition, participants will learn about another startup mistake of hiring poorly. The class helps participants think through what their business must do consistently and well in order to deliver value to customers. It also highlights the people, systems, tools, and relationships needed to support those activities. A guest speaker provides guidance on best hiring practices, helping participants understand how early staffing decisions can influence cost, culture, compliance, and performance.

This session also returns to the “go/no-go” conversation and introduces the expectations for the Business Plan Competition. Participants reflect on what they have learned through customer discovery, market data, financial planning, and industry research to determine whether their idea is worth advancing. This final exercise helps participants move forward with greater clarity and confidence.