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Rhonda Abrams. Six-Week Start-Up
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Who this book is for
This book is for you if:
About Rhonda Abrams
Introduction. In six weeks you can change your life!
week 1
Week 1
Lay the Foundation. .
GOALS FOR STARTING MY BUSINESS
ACCOMPLISHMENT #1: Clarify your business concept
Check It Out
MY PERSONAL GOALS: THE FOUR Cs
Identify your personal goals
The Four Cs
Spell out your business values
Check It Out
MY BUSINESS VALUES
MY ROLE MODELS
Remind yourself of your source of inspiration
Check It Out
My role models
My “bright idea”
MY “BRIGHT IDEA”
MY BUSINESS CONCEPT
Describe your business concept
Identify needs
BASIC BUSINESS DESCRIPTION
Outline specifics
Identify your strategic position
Decide whether you want partners
QUESTIONS TO ASK. POTENTIAL PARTNERS
DISCUSSING PARTNERSHIP TERMS
Decide whether you want investors
Check It Out
Consider potential exit strategies
Discuss the impact of starting a business with your family
Make an appointment with an SBDC counselor
Check It Out
Check It Out
Choose a name
Check out trademarks
ABOUT TRADEMARKS
Doing a trademark search
Check It Out
Secure a domain name
Check It Out
Consider logos, taglines, and colors
Logos
Taglines
Colors
Check It Out
CREATING MY IDENTITY
Meet with a graphic designer
QUESTIONS TO ASK. GRAPHIC DESIGNERS
Set up files
Create digital records
Start It Free
Set up a contact management system
Start It Free
Keep track of your company’s vital statistics
Keep track of expenses
Start It Free
week 2
Week 2
Get the Info You Need
ACCOMPLISHMENT #1: Learn more about your industry
Make a list of your research questions
Check It Out
Contact your industry association(s)
MY RESEARCH QUESTIONS
Check It Out
Do online research
RESEARCH SOURCES
Check It Out
ACCOMPLISHMENT #2: Research your target market
WHO ARE MY CUSTOMERS?
MY CUSTOMER PROFILE
Define your target market
Determine if there are enough customers
SIZE OF MY MARKET
ACCOMPLISHMENT #3: Check out your competition
Identify your competitors
Check It Out
MY COMPETITORS
COMPETITORS’ PRICE COMPARISON CHART
Analyze your competition
Compare competitors’ pricing
ACCOMPLISHMENT #4: Find suppliers
Check It Out
POTENTIAL STRATEGIC PARTNERS
ACCOMPLISHMENT #5: Consider strategic partners
ACCOMPLISHMENT #6: Broaden or establish your network
Attend a community, entrepreneur, or industry organization meeting
Check It Out
ORGANIZATIONS TO JOIN
Build your online connections
Check It Out
Check It Out
Check It Out
week 3
week 3
Cut Throught Red Tape
ACCOMPLISHMENT #1: Deal with legal and licensing matters
Start It Free
Choose a legal form and ownership structure for your company
QUESTIONS TO ASK. WHEN CHOOSING AN ATTORNEY
Check It Out
TYPES OF LEGAL FORMS OF U.S. BUSINESS ORGANIZATIONS
Discuss ownership of your company
Corporations can issue stock
PEOPLE YOU’VE GIVEN OR PROMISED STOCK
STOCK DISTRIBUTION PLAN
BUSINESS LICENSES AND PERMITS
Apply for business licenses, permits, and identification numbers
VITAL STATISTICS
Federal tax ID number
Check It Out
State licenses, certifications, and ID numbers
Check It Out
Reseller’s license
County and city licenses, permits, and ID numbers
“DBA” (Doing Business As) or fictitious business name
Discuss collecting sales tax
Start It Free
Draw up basic contracts and other legal agreements
Start It Free
Protect your intellectual property
TRADEMARKS
Check It Out
ACCOMPLISHMENT #2: Build your team and personnel structure
Consider your support structure
MY SUPPORT SYSTEM
Decide whom you need on your team
WHOM DO I NEED ON MY TEAM?
Check It Out
Figure out how much you can afford
Start It Free
Examine the use of independent contractors
Start It Free
HOW MUCH CAN I AFFORD?
Employee vs. Independent Contractor: The Right Classification
Start It Free
Check It Out
Understand employment laws and consider your personnel policies
Check It Out
MY PERSONNEL POLICIES
Finding and hiring good people
Check It Out
QUESTIONS TO ASK. POTENTIAL EMPLOYEES
Check It Out
Compensation
Check It Out
Benefits
RECRUITING EMELOYEES
Training
Appraise your management style
Rewarding and acknowledging
Start It Free
MY LEADFRSHIP SKILLS
week 4
week 4
Take Care of Operations
ACCOMPLISHMENT #1: Find and secure a location
OPTION A: Rent space
Decide on the necessary attributes of your location
Check It Out
THINGS TO CONSIDER WHEN RENTING SPACE
Check It Out
Meet with a real estate agent
Compare properties
LOCATION/SPACE COMPARISON CHART
SERVING ANOTHER LOCATION
Consider whether you need more than one location
OPTION B: Set up a home office
Find the space to work
Check It Out
Figure out your phone, fax, and Internet connections
Plan how to meet with customers
Check It Out
Decide whether you need a separate business address
Understand home-based office tax deductions
Check It Out
QUESTIONS TO ASK. ON HOME OFFICE DEDUCTIONS
Plan ways to separate work life from home life
Deal with kids and pets
OPTION C: Set up an “office” in your vehicle
Check It Out
Check It Out
Check It Out
MOBILE OFFICE PLAN
OPTION D: Search for shared space: Incubator, accelerators, and coworking spaces
Check It Out
ACCOMPLISHMENT #2: Design your work space and production process
Design your layout
OFFICE MOVE-IN CHECKLIST
Design your production process
Check It Out
Order/install utilities and facility improvements
FLOOR PLAN LAYOUT
DESIGNING MY PRODUCTION PROCESS
Get furniture and equipment
BUY OR LEASE?
Start It Free
WARRANTIES AND SERVICE CONTRACTS
FURNITURE SHOPPING LIST
EQUIPMENT SHOPPING LIST
TO KEEP WARRANTIES HANDY
Order inventory and/or raw materials
QUESTIONS TO ASK. A POTENTIAL SUPPLIER
SUPPLIER COMPARISON CHART
ACCOMPLISHMENT #3: Research and purchase computers, software, and other technology
MY PHONE NEEDS
TO ORGANIZE TECH “STUFF”
Develop an approach to buying technology
MY HARDWARE NEEDS
MY SOFTWARE NEEDS
COMPARISON CHART: INTERNET HOSTING COMPANIES
Choose a phone system
Start It Free
HOSTED PHONE SYSTEMS
Start It Free
Choose software
DISASTER RECOVERY AND BUSINESS CONTINUITY
Advantages of web-based services:
Disadvantages:
GEEKS TO THE RESCUE
START YOUR BUSINESS IN THE CLOUD
Choose hardware
QUESTIONS TO ASK. A TECHNOLOGY CONSULTANT
Check It Out
Get online
Check It Out
Check It Out
Meet your mobile needs
Find ways to get technical help
ACCOMPLISHMENT #4: Consider how you will distribute your products
Check It Out
DISTRIBUTION AGREEMENT
RETAILER COMPARISON CHART
ACCOMPLISHMENT #5: Design procedures for handling administrative tasks
Outsourcing administrative tasks
ACCOMPLISHMENT #6: Deal with insurance
Check It Out
Check It Out
COMPARISON CHART: INSURANCE COVERAGE
Health Options Pros and Cons
week 5
week 5
Deal with Money Issues
ACCOMPLISHMENT #1: Deal with money matters
Meet with an accountant
Learn the lingo
QUESTIONS TO ASK. AN ACCOUNTANT
Take stock of your personal financial situation
TAKING STOCK: WHAT ARE MY EXISTING ASSETS?
Clean up your credit
Check It Out
MY CREDIT CARDS
Set up your books
Start It Free
Check It Out
Establish your prices
Professional service fees
MONEY MANAGEMENT TIPS
Prices for goods and other services
Open a bank account
Consider accepting credit cards
COMPARISON CHART: BANKS
Check It Out
Prepare simple financial forecasts
Budgeting strategies
Cash flow
Learn about taxes
SALES PROJECTIONS
MARKETING BUDGET
PROFIT&LOSS PROJECTION
CASH FLOW PROJECTION
Check It Out
MY TAX DEADLINES
MANAGING PAYROLL
Sales tax
Check It Out
ACCOMPLISHMENT #2: Consider financing
Determine whose money you want
QUESTIONS TO ASK. POTENTIAL INVESTORS
Check It Out
COMPARISON CHART: INVESTORS
Check It Out
HOW LONG WILL IT TAKE?
QUESTIONS TO ASK. BEFORE YOU SEEK FINANCING
Check It Out
Develop a business plan
week 6
week 6
Open Your Doors!
ACCOMPLISHMENT #1: Develop a marketing plan
Check It Out
Clarify your company’s message
The four Ps of marketing
Check It Out
What customers want: Rhonda’s five Fs
Come up with your Elevator Pitch
MY ELEVATOR PITCH
Decide on marketing vehicles
Create a marketing budget
Check It Out
MY PRINTING NEEDS
Printed marketing material
Customer-based marketing
Check It Out
Trade shows
Check It Out
TRADE SHOWS AND INDUSTRY EVENTS
MARKETING VEHICLES COMPARISON CHART
Public relations/publicity
Start It Free
GETTING PUBLICITY
MEDIA CONTACTS
Advertising
Promotional products
Check It Out
Check It Out
Networking
“Guerrilla marketing”
Customer loyalty programs
Forming a virtual company
ACCOMPLISHMENT #2: Set up a simple website
Check It Out
MY WEBSITE CHECKLIST
Check It Out
Website design and hosting:
Start It Free
ACCOMPLISHMENT #3: Begin online marketing
Check It Out
Check It Out
Check It Out
Ways of Calculating SEO and SEM Success
Start It Free
Social Media Marketing
Blogs
Start It Free
Other online social media marketing tactics
Check It Out
Choosing a social media marketing strategy
CONSIDER YOUR SOCIAL MEDIA EFFORTS AN INVESTMENT
Start It Free
Daily Deals
Mobile marketing
Review Sites
Email Newsletters
Check It Out
Start It Free
Online Advertising
ACCOMPLISHMENT #4: Start making sales!
Getting your first customer
Successful sales techniques
Your sales pitch
MY SOCIAL MEDIA STRATEGY
Check It Out
Feeling at ease making presentations
AT A BUSINESS LUNCH
MY SALES PITCH
One-page sales sheet
Responding to prospective customers
Check It Out
Finding sales leads
SAMPLE ONE-PAGE SALES SHEET
Check It Out
Check It Out
Cold calling
Up-selling and cross-selling
Nurture your contacts
ACCOMPLISHMENT #5: Hold your grand opening
ACCOMPLISHMENT #6: Look toward the future
Feeling like the C.E.O
When is it time to grow?
Index
Every successful business starts with a plan
