Year One intends to change the narrative for new business owners.
Regardless of a person’s social status, race, or belief in self, our vision is that with our support, business owners will become empowered to run their businesses successfully.
Eligibility
- The business must be in Chemung, Schuyler, Steuben, Tompkins, or Yates County.
- We aim to serveTarget Business Owner Demographic: Minority and Women (50%), Veterans (15%), Justice Impacted (15%), Other (20%)
YEAR ONE, INC.
The Process and Phases of Year One
Process:
- A potential client will submit a completed Client Application and resume to Year One’s team.
- The Client Application and resume is reviewed by Year One’s Executive Director (ED).
- If the following criteria are met, the Year One’s ED schedules a Client Assessment Meeting with the potential client and a Year One board member:
a. Client has demonstrated a solid business idea
b. Client has completed the Client Application in full
c. Client has submitted a resume - After the Client Assessment Meeting, Year One’s ED and the Year One board member will present the client to the full board of directors for approval of services.
- The board will make a decision during its regularly scheduled board meeting (2nd Friday of the month at 10am).
- After board makes a decision in regard to the potential client, Year One’s ED will reach out to the client.
- The client will complete and sign a Client Engagement Contract.
- The client then works through the following phases:
Phase 1: ASSESSMENT PHASE (Month 1):
a. Business Plan Development – the client will attend two meetings with Year One’s business consultant to develop a business plan.
b. Financial Forecast Development – the client will attend two meetings with Year One’s ED to develop a 3-year Financial Forecast.
► If the business is financially viable, it will move on the Phase 2: START UP PHASE.
► If the business is financially viable and requires a business loan to proceed, the client will move on to Phase 2: START UP PHASE. However, the business will not be able to proceed to Phase 3: LAUNCH PHASE until their loan is secured.
► If the business is not financially viable, there will be no more services provided by Year One.
Phase 2: START UP PHASE (Month 2):
c. Legal Consultation – the client will meet with Year One’s attorney to create an appropriate business tax structure.
d. Banking – the client will establish bank accounts for the business at their bank of choice.
Phase 3: LAUNCH PHASE (Months 3-4):
e. Marketing Plan Development– the client will meet with Year One’s Marketing Consultant to develop a one-year marketing plan.
f. Accounting/Bookkeeping Services – using the Financial Forecast, Year One’s team will create a chart of accounts for the client, set up a QuickBooks Online account, and begin working with the client once a week on accounting and bookkeeping processes. If the client is selling a product, a Point-of-Sale system will be selected and a sales tax account will be established.
g. Consulting – if the client requires additional consulting, Year One’s ED and the client will identify an appropriate “coach” for the type of business that the client is launching.
h. The client will launch their business.
i. The client will attend quarterly events hosted by Year One.
Phase 3: MAINTENANCE PHASE (Months 5-11):
j. The client will run their business.
k. Year One’s staff will perform all accounting/bookkeeping functions.
l. The client will meet with Year One’s ED monthly to review financials, develop processes, etc.
m. The client will meet monthly with their coach.
n. The client will attend quarterly events hosted by Year One.
Phase 4: TRANSITION PHASE (Month 12):
o. The client and Year One’s ED will meet to create a transition plan for the client.
p. The client will meet with their coach one last time.
q. The client will meet with Year One’s ED and Year One board member for an exit interview.
Apply Now
CLICK HERE to download the application.