Money Smart for Small Business consists of 13 modules containing three components: a fully scripted instructor guide, participant guide, and PowerPoint slides. The modules are an introduction to 13 topics providing real-life examples, key points, a section on “Local Resources” that needs to be customized by the instructors, pre and post surveys to measure the knowledge gained as a result of attending the training, and an evaluation form. Each module can be taught in one to three hours. Some modules have case studies and exercises.
PDF versions of module components can be downloaded below, and Word versions are available at the FDIC Catalog (catalog.fdic.gov).
A MSSB Train-the-Trainer resource (catalog.fdic.gov) is available for organizations that want to train their instructors.
Money Smart for Small Business Module Descriptions
Learning objectives and components for each module is listed under the following module titles.
Is Owning a Business a Good Fit for You? – know your strengths
- Distinguish the myths and realities of small business ownership.
- Start a self-assessment to determine their readiness to become business owners.
- Set a plan of action gathering feedback from family, friends and potential customers.
Planning for a Healthy Business – start-up: from plan to reality
- Convert a vague idea into a resource plan.
- Understand how a business plan helps motivate stakeholders to support their business ideas.
- Understand the importance of personal credit and a healthy relationship with lenders.
Banking Services – available for small business
- Recognize the most common banking services for small businesses, including merchant services, payroll processing, business credit and others.
- Understand how other small business owners decide which banking services to use.
- Evaluate the applicability of each of banking service to their business needs.
Organizational Types – pros and cons of business structures
- Sole Proprietorship
- Limited Liability Company (LLC)
Time Management – tips to make you more efficient
- Improve their time management skills
- Apply some common time management practices, such as:
- ABC Analysis
- Pareto Analysis
- Eisenhower Method
- POSEC Method
Financial Management – understanding this critical practice
- Understand the essentials of financial management.
- Apply financial management practices, rules, and tools most relevant for small businesses.
- Prepare for common business financing needs: start-up finance, working capital, and fixed asset loans.
Recordkeeping – as a managerial tool
- Improve their overall recordkeeping practices.
- Apply tricks and tools relevant to their business.
- Choose among various software options to support their recordkeeping.
Strong Business Credit – demystified
- Understand how credit reports are used in the underwriting of business loans.
- Apply common business practices and tools to help in proper credit reporting.
- Develop strategies to build or improve their business’ credit.
- Protect themselves from credit-related scams and know what to do if their business becomes a victim.
Risk Management – planning for what you can and cannot control
- Understand the external and internal factors which affect risk for a small business.
- Recognize the common warning signs of risk for a small business.
- Implement, monitor, and evaluate a risk management plan for their business.
Insurance – choices for business
- Required insurance for employers.
- Understand their business’ insurance needs.
- Choose the insurance products that are best for their business.
- Considerations to select insurance policies.
Tax Planning and Reporting – understanding taxes and your business
- Predict their businesses’ federal, state and local tax liabilities.
- Prepare for tax obligations and establish proper accounts.
- Obtain the proper licenses for their business and meet reporting requirements.
Selling Your Business and Succession Planning – developing an exist strategy for your business
- Incorporate life-cycle issues into their management planning.
- Decide the best option for them to exit their business.
- Prepare for retirement.
Managing Cash Flow – practical problem solving
This module should be taught after the Financial Management module has been completed.
- Understand the purpose of cash flow management in a small business.
- Make cash flow projections based on the cash cycle.
- Identify some ways to manage cash flow, including receivables and payables.
- Work more effectively with technical experts.
Money Smart for Small Business Train-the-Trainer
This serves as a self-help resource for organizations that want to train their MSSB instructors. It includes an Instructor Guide, Participant Guide, and PowerPoint slides. Contents are designed for a three-hour class including the following features:
- Overview of all MSSB Modules.
- Deep-dive into the MSSB Cash Flow Module.
- MSSB Modules Matrix and Tips to help instructors design their MSSB program and combine MSSB modules.
- Event agenda and invitation templates.
See a 60-minute video overview of the MSSB Train-theTrainer resource
Download Modules in English and Spanish
Eligible organizations hosting MSSB Train the Trainer events for 40 participants or more may request FDIC assistance at firstname.lastname@example.org or contact their local FDIC staff for any other technical assistance or implementation questions.
For any questions about MSSB modules email email@example.com.