Im An Entrepreneur... Creating the business you love Baiju Solanki

Time is Ticking Every year you get a little older lose a little more of your youth a little more set in your ways Looking ahead you have two choices Stay where you are and hope things change(i.e. stay in job/get promotion) Start your own business 2 Choices Outcome 1: OK Same Hours Same Money Same Stress Outcome 3: Really Good Exponential Money More Choice More Freedom More Fun Outcome 2: Really Bad Large Debt Loss of Family Lose Confidence No Fun The Possible Outcomes when staying in a job and starting a business Outcome 2: Good Promotion Moderate Pay Rise Bonuses Outcome 1: Bad Reprimand Maybe Sack Staying in a job Starting a business When leaving a job to start a business, its not your skills or your ability to do what you do that will determine your success success will occur by your ability to handle rejection, failure and your capacity to sell and market your service or product. Why do so many businesses fail? What Business Failure Looks Like Loss of self confidence Personal debt Family problems Lose of reputation Possible Bankruptcy Constantly fighting fires Head in the sand syndrome Lack of planning & preparation What can you do to prevent this? ImAn Entrepreneurs 6 Steps to Start-up Success 1. Choice 2. Clarity 3. Investigation 4. Differential Value 5. Creation 6. Implementation Taking the right action BEFORE your leave your job to start your business can prevent business failure 1. Choice 2. Clarity What needs to change in your life now? Who else needs to be involved in this decision? Do you have an idea about what market you want to serve? Are you clear on what you want from your business? Keep doing the same things, then expect the same results. Fear Keeps us Still Focus on What you Want, NOT on What you Dont Have What Type of Life Do You Want? 3. Investigation Whateveryouridea,thereissomethingalreadyouttheredoing whatyourwanttodoorprovide.Thereisnothingnewinthe world What are the future trends that your business could create? What has failed/succeeded before? What is missing that you could fill? What is currently happening in the world in your business idea? 4. Differential Value What is Your Difference? Is Your Difference of Value? Is it commercially viable? How will someone pay you for it? 5. Creation What kind of Website do you Need, Brochure; E- Commerce How are you going to find resources? Do you NEED Investment? Do you need staff? How are people going to pay you? Do you need agreements in place? 6. Implementation Getting from Concept Working towards You Taking Money ImAn Entrepreneurs 6 Steps to Start-up Success Choice Clarity Investigation Differential Value Creation Implimentation The six steps are design to ensure you create and develop a business that can generate money before you risk finding out if it will work or not.