entrepreneurshiplab.net kickoff event
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EntrepreneurshipLab.net
KICKOFF EVENT
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EntrepreneurshipLab.net
Quick housekeeping notes- Webcast & chat are at http://entrepreneurshiplab.net/live
- I’ll check in at the breaks
- 9 a.m. to Noon-ish Central Time
- Slides, recordings will be posted to member’s area after
- Would love for you to Tweet & Facebook all this
- I’m @corymiller303 and you can use hashtag #entrelab
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EntrepreneurshipLab.net
Today’s Sessions- Is Entrepreneurship For You: 8 Questions to Ask
- Your Startup’s First Critical Partners
- Finding the Right Business Idea For You
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EntrepreneurshipLab.net
What is the Lab about?
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EntrepreneurshipLab.net
Helping each other start, run & grow successful businesses
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EntrepreneurshipLab.net
Entrepreneurship is a tough, frustrating & often lonely job
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EntrepreneurshipLab.net
Lab is a private community to learn & grow; get support, feedback & encouragement
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EntrepreneurshipLab.net
Hear from entrepreneurs who have succeeded
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EntrepreneurshipLab.net
Monthly training topics- Based on input and
demand
- Marketing
- Work-LIfe Alignment
- Customer Service, Support and Care
- Leadership and Management
- Products and Services
- Personal, Professional and Career Development
- Accounting and Financial Management
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EntrepreneurshipLab.net
Startups are experimentsThe Lab is your place to launch & learn
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EntrepreneurshipLab.net
Who Am I?- Had 13 jobs since I was 16
- Being an entrepreneur is the BEST job I’ve ever had
- Started out in newspaper journalism
- 3 daily newspapers; 1 sports magazine; 3 nonprofits
- Always wanted to be an entrepreneur like my grandfathers
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EntrepreneurshipLab.net
My Tipping Point- Started professional blog in 2006
- Went from unknown to known
- Started learning web design at night
- Stumbled into a great freelance business
- Then my back started hurting from 16 hours days
- Wanted to build something bigger than myself
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EntrepreneurshipLab.net
The dream made real- Went full-time in 2008 with iThemes
- We build software & training for web designers
- 20+ employees, hundreds of products, thousands of customers and on track for record year in 2012
- Named 7th Fastest Growing Co. in OKC in 2011
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EntrepreneurshipLab.net
Is Entrepreneurship For You?8 Questions Before the Journey Begins
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EntrepreneurshipLab.net
Why Start a Business in the First Place?
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EntrepreneurshipLab.net
Some Reasons to Start a Biz- Create your ideal job doing rockin’ work
- Align work with life
- Work with people you like & enjoy
- Turn ideas into reality
- Make money building something you own
- And ...
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EntrepreneurshipLab.net
Change the World!Make Meaning While Making Money
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EntrepreneurshipLab.net
The First 8 Questions To Get You Started
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EntrepreneurshipLab.net
1. What does your calendar look like for the next 5 years?
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1. Block out 2012-2017
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EntrepreneurshipLab.net
What consumes you enough to devote 1,825 days to?
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EntrepreneurshipLab.net
2. What do you want to offer that makes people’s lives awesome?
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2. Make people’s lives awesome
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EntrepreneurshipLab.net
How are you making someone’s life easier, better?
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EntrepreneurshipLab.net
3. What does your perfect playground look like?
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EntrepreneurshipLab.net
How do you want or need to work?
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EntrepreneurshipLab.net
4. How are you going to make money?
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EntrepreneurshipLab.net
Passion without profit is called a hobby
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EntrepreneurshipLab.net
5. Who is your pirate crew?
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EntrepreneurshipLab.net
You need people, dummy
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EntrepreneurshipLab.net
“If you want to go fast, go alone. If you want to go far, go together.”
—African proverb
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EntrepreneurshipLab.net
6. What would you give up to get it?
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EntrepreneurshipLab.net
Sacrifice
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EntrepreneurshipLab.net
How BAD do you want it?
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EntrepreneurshipLab.net
My secret motivating kick in the pants?
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EntrepreneurshipLab.net
I’m scared to death of ...REGRET
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EntrepreneurshipLab.net
I want my life to COUNT
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EntrepreneurshipLab.net
And so do you!
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EntrepreneurshipLab.net
7. What are you doing NOW to achieve your dream?
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EntrepreneurshipLab.net
What is ONE thing you can do TODAY that can make the biggest impact & move you closer?
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EntrepreneurshipLab.net
“Vision without executionis hallucination.”
—Albert Einstein
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EntrepreneurshipLab.net
8. Now ... what are you waiting for?
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EntrepreneurshipLab.net
Q&A + Discussion
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Next session starts shortly!
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EntrepreneurshipLab.net
KICKOFF EVENT
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EntrepreneurshipLab.net
Your First Critical PartnersThe Key People You Need For Success
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EntrepreneurshipLab.net
1. Significant Other
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EntrepreneurshipLab.net
First, most valuable, most influential partner in biz
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EntrepreneurshipLab.net
S.O. can make or break your startup
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EntrepreneurshipLab.net
Startup is a baby you’re raising together
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EntrepreneurshipLab.net
Biz should be a shared compelling vision you have for your lives
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EntrepreneurshipLab.net
Before you start, get away together
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EntrepreneurshipLab.net
2. Accountant
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EntrepreneurshipLab.net
Help with managing cashflow and paying taxes
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EntrepreneurshipLab.net
Cash is oxygen for biz
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EntrepreneurshipLab.net
Too many fall or fail here
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EntrepreneurshipLab.net
A financial partner helps manage this essential aspect
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EntrepreneurshipLab.net
Questions to Ask- What will I need to do or plan for this year? (Taxes, etc)
- What financial software do you use or recommend?
- Where do you bank and why?
- What services do you typically provide businesses?
- Do you understand my business?
- Do you have clients doing similar things to what I’m doing?
- What advice & tips do you have for me to ensure maximum success?
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EntrepreneurshipLab.net
3. Attorney
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EntrepreneurshipLab.net
First, to setup your legal business entity
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EntrepreneurshipLab.net
Second, to have someone to call when an issue comes up
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EntrepreneurshipLab.net
4. Team
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EntrepreneurshipLab.net
Whoever you need to build & ship
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EntrepreneurshipLab.net
The Team Could Be ...- Volunteer Team Members
- Paid Team Members
- Financial Partners
- Equity Partners
- Vendors / Suppliers
- Collaborators / Joint Venture Partners
- Consultants / Contractors
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EntrepreneurshipLab.net
5. Mentors
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EntrepreneurshipLab.net
Outside counselExperienced truth tellerNot compensatedNot a team member or partner
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EntrepreneurshipLab.net
6. Customers
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EntrepreneurshipLab.net
Everything in a startup is an experiment to test
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EntrepreneurshipLab.net
The ultimate test is if someone will give you $$$ for it
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EntrepreneurshipLab.net
Customers are key partners in your entrepreneurial dream
Never ever forget:
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EntrepreneurshipLab.net
Q&A + Discussion
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Next session starts shortly!
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EntrepreneurshipLab.net
KICKOFF EVENT
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EntrepreneurshipLab.net
Finding the Right Biz Opportunity for YouAligning Who You Are With What You Do
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EntrepreneurshipLab.net
Put aside your big ideaFor now ...
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EntrepreneurshipLab.net
Let’s talk aboutWork-Life Alignment
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EntrepreneurshipLab.net
Misalignment happens when biz doesn’t MATCH you
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EntrepreneurshipLab.net
Save yourself some grief
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EntrepreneurshipLab.net
This is an exercise to go through with your S.O.
By the way ...
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EntrepreneurshipLab.net
Know yourself and what you want
The goal is to ...
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EntrepreneurshipLab.net
1. What are your life’s hopes, dreams & goals?
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EntrepreneurshipLab.net
Questions to ask yourself- What does success look like
at the end of the day? At the end of your life?
- Answer the old question: What do you want written on your tombstone?
- Who do you love and cherish most in life?
- What do your family goals look like?
- What are you financial goals?
- What are your lifestyle and living goals? What does living a good life look like for you?
- Where do you want to be in 6 months, 1 year, 5 years … or when you're 30, 40, 50, 60?
- What are those future facts for what your life will look life then?
- What does success for you look like and feel?
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EntrepreneurshipLab.net
What do you really want your life to be about?
Let me ask it another way
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EntrepreneurshipLab.net
Take some time with these
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EntrepreneurshipLab.net
2. Let’s talk personality ...
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EntrepreneurshipLab.net
Two Helpful Discovery Tools:
Myers-Briggs Test Indicatormbticomplete.com
StrengthsFinderstrengthsfinder.com
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EntrepreneurshipLab.net
Why do these?- Based on extensive survey and research
- Helps you understand yourself better
- See yourself from the outside-in
- Find what you’re naturally good at
- Avoid what you’re ridiculously bad at
- Recruit people to compliment you
- Find areas of interest that you might not have explored
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3. What expertise and experiences do you have?
The step that sometimes gets skipped
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List out your resume in detail
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All the jobs you’ve had?Career fields, industries?Favorite jobs & why?Biggest impact you made?
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4. What are your passions, hobbies and interests?
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The best businesses ...- Champion a CAUSE (a better tomorrow)
- Come out of a CRISIS (an experience)
- Promote a CORE VALUE (a belief, philosophy)
- Offer a CURE (a solution)
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So what stirs you up?
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Two tips for exploring ...
1. Be careful with stress relief hobbies, a business could ruin it for you
2. You don’t know what you really like until you explore it. Try it out.
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Now a big question ...
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5. What would people PAY you to do that you would ENJOY the most?
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Make two columns:1. What you want to do most2. What you think people would pay for
Find the top rated intersections.
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Now, let’s bring back your big awesome business ideas ...
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It’s time to get really realThe sobering up questions
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1. Is it the best way to achieve your goals?
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2. Will you enjoy chasing it?
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3. Can you invest the next 5 years pursuing it?
Count the cost
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4. How interested in it are you now?
Rate it on a scale from 1 to 10
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5. Is your S.O. fully on board?
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Take a next step or reassess & start over
You should know now whether it’s time to ...
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Business-Life Alignment- Align with who you are & what you want
- Play to your strengths, not weaknesses
- Pursue what helps you best achieve your goals & dreams
- And will capture your interest & secure your long-term commitment to see it succeed
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Q&A + Discussion
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Next webinars- The Great Entrepreneurial Experiment
- Oct. 10 at 7 p.m. Central
- Essential Steps for Bootstrapping Your Biz
- Oct. 23 at 7 p.m. Central
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In the meantime ...- Complete the member survey
- http://entrepreneurshiplab.net/dashboard/
- Post an introduction or question in the forum
- http://entrepreneurshiplab.net/forum/
- Invite someone else to join you ...