are you good at paperwork, bookkeeping and details? how are you at sales? can you wait for your...

• Are you good at paperwork, bookkeeping and details?

• How are you at sales?

• Can you wait for your money?

• What about the same old same old, week after week?

• Are you ready for the physical effort?

• Do you have a supportive family?

• Can you commit the time and capital?

Starting a Business

Before beginning a career as a direct marketers, ask yourself the following.

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Starting a Business

• 600,000 new businesses are started each year in the US.– 56% fail within 4 years1.

• What can you do to determine if your business idea will succeed or fail before you invest lots of money?

1. US Small Business Administration, FAQs

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Common reasons for early business failure

• Lack of planning and discipline

• Lack of capital

• Doing it all is difficult

• Inadequate attention to quality & customer

specs

• Inadequate attention to marketing

• Failure to adequately review risk

• Failure to use all resources available

Starting a Business

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• A business plan clearly identifies all aspects of a business venture including:

Organizational structure Description of business Goals Management experience Competitive review Regulatory constraints

and requirements Marketing plan including

– Overall strategy,

products, pricing, promotion and placement

Production/operation considerations – how the business will operate Inventory Quality control Raw materials Fixed assets

Financial information Income statement Cash flow statement Balance sheet Breakeven analysis

Starting a Business

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Starting a Business

• Seafood ventures that likely do not require a business plan– Switching processors

you sell to.– Changing your

operation to improve quality.

– Buying a new permit.– New boat and new

species?

• Seafood ventures that likely do require a business plan.– Moving into

processing/marketing.– New boat and new

species?– Buying expensive IFQ.

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Starting a Business

• Alaska’s Small Business Advisors

Alaska Small Business Development Center430 W. 7th Ave. Ste. Anchorage, AK 99501(907) 274.7232(800) 478.7232 Toll free outside

Anchorage(907) 274.9524 Fax5 locations and a rural outreach

coordinatorwww.aksbdc.org

Alaska Business Development Center, Inc.3335 Arctic Blvd. Suite 203Anchorage, Alaska 99503Phone (907) 562-0335Fax (907) 562-6988

www.abdc.org

Alaska Department of Commerce, Community & Economic DevelopmentOffice of Economic Development 550 West 7th Ave., Suite 1770Anchorage, AK 99501(907) 269-8104(907) 269-8125 (fax) www.commerce.state.ak.us/oed/

Alaska Regional Development OrganizationsThere are eleven (11) ARDORs throughout Alaska that work to stimulate economic development. Visit the following Department of Commerce site to learn more - http://www.commerce.state.ak.us/oed/ardor/ardor.htm/

There are several other local and Native organizations that provide direct one-on-one business counseling. Call a MAP agent for more contacts in your area.

UA/Center for Economic DevelopmentDiplomacy Building, 5th Floor 507G3211 Providence DriveAnchorage, AK 99508-8243Phone: (907) 786-5444Fax: (907) 786-5446

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