Starting a Business QuickStart Guide

Starting a Business QuickStart Guide
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Have you ever dreamt of starting your own business and living life on your terms?
This book shows you EXACTLY what you need to know to stand out from the crowd!
Do you have an idea for an amazing product or service but you aren’t sure how to build a business around it? Then you NEED this book. Buy now and start reading today!
Are you a current business owner who struggles to identify your customers and deliver true world-class value? Everything you need to know is included in these pages!
Do you want to build your hobby business into a fully-fledged venture that will help you build the life you deserve? Then you NEED this book. Buy now and start reading today!
The most comprehensive guide ever developed for starting and growing a business in 2019!
In the highly competitive world of business, what makes or breaks a new entrepreneur?
Sourced from over twenty years of firsthand experience working with entrepreneurs, new ventures, and high-growth startups, author Ken Colwell, PHD, MBA has the answers.
In his comprehensive Starting a Business QuickStart Guide, Ken Colwell concisely presents the core fundamentals that all new entrepreneurs need to know to get started, find success, and live the life of their dreams.
Business and entrepreneurship students, small business owners, managers, and soon-to-be entrepreneurs will all find a wealth of value within the pages of the Starting a Business QuickStart Guide.
From the very first steps conceptualizing your venture to winning your first customers, delivering value, and turning a profit, this book acts as an invaluable blueprint for your path to entrepreneurial success. Colwell’s clear voice, extensive experience, and easy-to-understand presentation come together to make this book a must-have resource in the library of every budding entrepreneur!
Perfect For: Would-Be Entrepreneurs With a Ton of Passion! Entrepreneurial Students of All Ages! Beginners with Zero Prior Experience! Managers, Business Owners, and Decisions Makers Growing into a New Role! You'll Discover: The Difference Between an Idea and an Opportunity! What Makes an Entrepreneurial Opportunity Great! The Very First Steps You Need To Take To Get Your Venture Off The Ground! Pricing, Competition, Customer Identification, Marketing, and Distribution Demystified! The REAL Components of an Entrepreneurial Mindset! Exactly How To Craft Your Value Proposition! How to Write a Comprehensive Business Plan!
**LIFETIME ACCESS TO FREE RESOURCES & BUSINESS SUPPORT*: Each book comes with free lifetime access to tons of exclusive online resources to help you become a better business owner such as workbooks, cheat sheets and reference guides. You also receive lifetime access to our online coaching community to help you achieve all of your financial goals!.*

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Ken Colwell PhD MBA. Starting a Business QuickStart Guide

Contents

BEFORE YOU START READING, DOWNLOAD YOUR FREE DIGITAL ASSETS!

Introduction

How This Book Is Organized

Chapter by Chapter

| 1 | Your Big Idea. Chapter Overview

How Are Opportunities Cultivated?

Opportunities Come from Active Search

Opportunities Come from Information

Opportunities Come from Change

Opportunities Come from the Process of Effectuation

What’s in a Thumbprint?

What Makes a Great Opportunity?

It Solves Problems for Customers

It Exists in a Strategic Space That Isn’t Too Crowded

It Maintains a Competitive Advantage

It Has a Reasonable Potential to Help You Achieve Your Goals

It Is Not Obvious to Others

It Doesn’t Exist Independently of the Entrepreneur

Some Considerations About Opportunities

The Nature of Competitive Advantage

Chapter Recap

| 2 | What Are You Afraid Of? Chapter Overview

Self-Limiting Beliefs

Entrepreneurs Are Born, Not Made

I Don’t Have Any Business Skills

I Don’t Have Enough Money to Start a Business

Now Is Not the Right Time

What If I Fail?

Risk and the Entrepreneurial Mindset

The Role of Luck

Do I Need a Business Plan?

Chapter Recap

| 3 | Reaching Success. What You Really Need to Succeed as an Entrepreneur. Chapter Overview

Mindfulness

Passion

Resiliency

Vision

Calculated Risk-Taking

Hard Work

Flow

Work-Life Balance and Working for Yourself

Living a Self-Actualized Life

Creativity

Authenticity

Continuous Improvement

Chapter Recap

| 4 | Your Company. The First Steps. Chapter Overview

A Note on Strategic Planning

Visualization Exercise

What Do I Do First?

What’s Your Name?

Decide on a Legal Form

Where Will You Incorporate?

Register with the State and Get Appropriate Licenses

Other Business Essentials

Digital and Physical Brand Collateral

Phone Number

Social Media

Chapter Recap

| 5 | What Are You Selling? Chapter Overview

Thinking of Your Product as a Solution

Don’t Become a Solution in Search of a Problem

How Do I Price My Product?

Strategically Establishing Your Prices

Positioning and the Price/Quality Matrix

Skimming – High Price, Low Quality

Premium – High Price, High Quality

Penetration – Low Price, High Quality

Economy – Low Price, Low Quality

Chapter Recap

| 6 | Markets and Customers. Chapter Overview

Who Should You Be Targeting?

A Note on Competition

Building Your Customer Avatar

Demographics

Psychographics

Behaviors

Product-Related Characteristics

Learning About Your Customers

Researching Your Target Market Online

Researching Your Target Market on Social Media

Researching Your Target Market in Person

Segmenting Your Market

Deep Dive: Market Segmentation

B2C Customer Segmentation

Behavioral Segmentation

Demographic Segmentation

Psychographic Segmentation

Geographic Segmentation

Which Method Works Best?

B2B Customer Segmentation

Firmographic Segmentation

Tiering

Needs-Based Segmentation

Which Method Works Best?

Chapter Recap

| 7 | Industries and Competitors. Chapter Overview

Which Industry Are You In?

Direct and Indirect Competitors – The Difference

A Note on Differentiation

Deep Dive: Porter’s Five Forces Model

Rivalry Among Competitors

Potential of New Entrants into the Industry

Power of Suppliers

Power of Customers

Threat of Substitute Products

Chapter Recap

| 8 | Your Value Proposition. Chapter Overview

Strategic Positioning

Cost Leadership

Differentiation

Focused Differentiation

Focused Cost Leadership

Exploring the Fifth Quadrant

What Is the Value of Your Value Proposition?

Chapter Recap

| 9 | Operations. Chapter Overview

The Value Chain

Evaluating Your Value Chain

Primary and Secondary Activities

What to Look For

Outsourcing as a Strategy

The Outsourcing Decision Matrix

Chapter Recap

| 10 | Marketing. Chapter Overview

The 4 Ps of Marketing

Promotion

Getting the Most Out of the Promotional Mix

Use Advertising

Use Public Relations

Use Personal Selling

Use Sales Promotions

Place

Distribution Channels and Strategy

Sales Channels

Direct Sales

Channel Sales

Your Sales Plan and the Sales Cycle

The Traditional Sales Cycle

Building Your Sales Cycle

Chapter Recap

| 11 | Planning for Growth and Change. Chapter Overview

Growing Your Venture

The Environment

Your Industry

Your Market

Your Venture

Planning for Change

Practice Sound Risk Management

Outsource

Carry Insurance

Don’t Cut Corners

Stay Proactive

Play Chess, Not Checkers

Chapter Recap

| 12 | Building Your Team. Management, Staffing, and the Founding Team. Chapter Overview

The Founding Team

Formalize These Aspects

Roles and Responsibilities

Decision-Making and Operating Procedures

How Big Should My Founding Team Be?

The Ownership Structure of New Ventures

Equity Distribution

Key Questions Regarding Owner Equity

Chapter Recap

| 13 | Where Does the Money Come From? Chapter Overview

How Much Do I Actually Need?

Understanding Burn

The Big Picture

Where Does the Money Come From?

Bootstrapping

Friends, Family, and Fools (FFF)

Debt Financing

Equity Funding

Angel Equity Financing

Corporate Partner Equity Financing

Venture Capital Equity Funding

Crowdfunding

Government Loans

Think of Funding in Stages

Chapter Recap

| 14 | Do You Really Need a Business Plan? Chapter Overview

Misconceptions About Business Plans

Before Writing Your Plan

Chapter Recap

| 15 | Introducing Your Venture. Chapter Overview

The Executive Summary

What to Include

What Not to Include

Your Elevator Pitch

Your Pitch Deck

Company Overview

Product/Service Description

What to Include

Chapter Recap

| 16 | Writing Your Value Proposition. Chapter Overview

Market Analysis

Defining Your Market

Defining Your Customer

Where to Find Customer Information

Industry Analysis

Competitor Analysis

What Not to Include

Other Competitive Forces

Constructing Your Value Proposition

Introduction

Market Definition

Competitor Differentiation

The Complete Value Proposition

Chapter Recap

| 17 | Your Business Model. Chapter Overview

Operations Overview

Internal Operations Strategy

External Operations Strategy

Marketing Overview

Distribution Strategy

Sales Strategy

Promotion, Advertising, and Public Relations Strategy

Growth Plan

Development Strategy

Growth Vision

Management and Staffing Plan

Organization and Staffing

Management Team

Financial Summary

Finances

Business Risks

Sources and Uses of Funds

The Appendixes

Key Assumptions

Pro Forma Financial Statements

A Note on the Due Diligence Process

Chapter Recap

Conclusion

Glossary

References. CHAPTER 1:

CHAPTER 2:

CHAPTER 3:

CHAPTER 4:

CHAPTER 6:

CHAPTER 7:

CHAPTER 8:

CHAPTER 13:

AboutThe Author

KEN COLWELL, PhD, MBA

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A great opportunity:

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