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TRANSCRIPT
The Process
• Find a good idea• Find some good people• Develop a business model• Find some money• Get it going• Keep it going
Find good people
• Owners or workers?– Friends– Family– Strangers– Ownership issues
• Support people?– Attorney– Accountant– Business Advisors
Business model• Where is your product in the market space?• What is your value proposition?• Who are your competitors?• How will you sell it?• Who will buy and why?• How will you find customers?• How will you price the product?• How will you produce the product?• How will you make money?
Get it going• Incorporate
– C Corporation– S Corporation– Limited Liability Company
• Create your corporate identity system– Company logo– Business cards– Letterhead– Web site design
• Open the shop
Get it going• Get your first sale• Learn• Get your second sale• Learn• Get your third sale• Adjust• Get your fourth sale• Learn• Get your fifth sale• Adjust• Repeat, repeat, repeat, repeat, repeat, repeat ….
Keep it going
• Fuel growth• Find more good people• Correct your mistakes• Manage burnout stress• Get it so it flies on
Autopilot• Buy a big boat and sail
it around the Caribbean