Key Takeaways from InBIA's ICBI39: The Future of Business Incubation

Ready to take your advisory services to the next level? Join LivePlan experts Justin and Cassie as they recap their key takeaways from the recent NBIA (International Business Innovation Association) conference. This session dives into the latest trends, challenges, and opportunities in entrepreneur support, including the evolving role of AI and crucial insights into capital readiness. Discover how Entrepreneur Support Organizations (ESOs) are adapting to economic uncertainty and leveraging tools to empower small businesses. Watch the full webinar to gain practical tips and strategies for your own programs.

What You'll Learn

This webinar is packed with practical tips and answers to the most common questions from our partner community. Here’s a look at what we cover:

Understanding Entrepreneur Support Organizations (ESOs)

• NBIA's Role: Learn about the International Business Innovation Association and its annual conference, ICBI, focusing on Entrepreneur Support Organizations (ESOs).
• Efficiency in Uncertainty: Discover how economic uncertainty is driving ESOs to seek tools that increase efficiency, allowing them to do more with fewer resources.
• Long-Term Engagement: Understand the shift towards dynamic tools that support long-term engagement, tracking, and growth for businesses beyond initial planning.
• Data-Driven Outcomes: Explore how programs are leveraging data to track outcomes, foster accountability, and inform ongoing support for entrepreneurs.

Leveraging AI in Entrepreneurship

• AI as an Ally: Differentiate between general-purpose AI platforms (like ChatGPT, Gemini, Claude) and purpose-built tools that leverage AI for specific business needs.
• Enhanced Planning: See how AI can assist in creating business plans and financial forecasts, reducing friction and organizing ideas into professional drafts.
• Reliable Insights: Learn how LivePlan uses AI to suggest relevant financial forecast items while providing accurate, citable industry data from trusted sources, ensuring reliability.
• Human-AI Collaboration: Emphasize the importance of the entrepreneur's critical thinking and ownership in the planning process, even with AI assistance.

Mastering Capital Readiness

• Funding Essentials: Identify the critical questions entrepreneurs must answer before seeking funding, including "do I need funding?", "how much?", and "what will it be spent on?".
• Financial Forecasting for Funding: Understand how robust financial modeling helps entrepreneurs prepare for and secure various types of financing.
• Iterative Forecasting: Explore the benefits of cyclical and iterative forecasting, allowing businesses to dynamically update their financial models as new information and market conditions evolve.
• Post-Funding Accountability: Discover strategies for establishing a monthly process to revisit plans, compare forecasts to actuals, and ensure ongoing financial health and accountability after securing funding.

Optimizing Business Management with LivePlan

• Streamlined Workflows: See how LivePlan standardizes and simplifies business planning and forecasting workflows for ESOs and their clients.
• Tailored Guidance: Understand how LivePlan's AI uses specific business descriptions to provide tailored guidance and suggestions throughout the planning process.
• Plan vs. Actuals: Learn how LivePlan integrates with QuickBooks Online to provide clear visualizations and analysis of financial variances, helping entrepreneurs stay on track.
• Monthly Review Insights: Utilize LivePlan's AI-powered monthly review feature to summarize forecast and actual values, highlighting key insights and actionable steps for business improvement.