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Is Business Ownership For You?
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Is Business Ownership For You?

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The idea of owning running a business is exciting and can be very rewarding. However, becoming a successful business owner can also be very challenging. It requires the right mindset, perspective, …

The idea of owning running a business is exciting and can be very rewarding. However, becoming a successful business owner can also be very challenging. It requires the right mindset, perspective, attitude, traits & know-how.

Our Free Business Training is designed to give you an insight into what it means to own a business and provide you with the basics to get you started off on the path to success.

This compact but complete 10 session program will cover topics from accessing if business ownership is the right path for you,planning, opening your business to growing and expanding.

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  • 1. Welcome To Our Free Business Training Webinar Is Business Ownership For You?1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 1 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 2. Int About Baanabaana Business Agencyr See our website – www.baanabaana.comod Why this trainingu I wished I had this when I started outc I love to share what I knowt Help entrepreneurs set a solid business foundation to build uponio A business savvy customer is the best customern What to expect Listen only mode * Interact via our blog * Feedback survey 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 2 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 3. Tr Training Overviewai Topicsn Is Business Ownership For you?i Writing Your Business Planng Business Organization Registration, Licenses, Permits InsuranceO Business Finances & Financingv Business Locatione Tools, Technology & Equipmentr Staffingv Marketing & Openingi Growing & Expandingew 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 3 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 4. We Is Business Ownership For you?ek Personal EvaluationO Business Visionne Business Selection RecommendationTo Choosing The Right Path For Youpi Getting the skillscs What To Do / What Not To Do 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 4 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 5. P Characteristics Of An Entrepreneurer Creative Visionary * Independent Thinkers Dreamer Planner Communicator * Gutsy Dedicated Motivatoro Self-Fulfilled Socially Conscious Seeker * Zen Focused Storytellern Gregarious Confident Innovator * Proactive Tech Savvy Leaderal Honest Action-Orientated Salesperson * Pedantic Resourceful Risk-taker Organized Money-wise Negotiator * Customer Centered Jack/Jill-of-allE Expert Self-Promoter * Competitive Accessible Go-getterv Fair Culturally Fluent Team Player * Hardworking Patient Collaboratora Persistent Optimistic Realist * Analytical Empathic Listenerlu Compassionate Adaptable Professional * Conscientious Loyal Workera Responsible Inspiring Manager * Tenacious Problem-solvert Open-minded Opportunist * Panoramic Strategisti Passionate Learnero 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 5n www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 6. P Critical Traitser Gutsy Risk-takerso Courage, determination, nerve, intense desire/need to take the risk and leapn toward having your own business.a Expertisel Working knowledge about the business industry you plan to be in before you start at the very least. Good dose of common sense, willingness to learner, appropriateE experiencev Patiencea Becoming successful takes time. You may have failures before you make itlu Adaptable Opportunista There is a good chance that things may not go as you envisioned. Be ready to taket advantage of opportunities. Nurture the ability to turn a failure into opportunityio 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 6n www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 7. P Why would you need to evaluate yourself?ers Everything about owning a small business revolves around one thing and that is YOUona Check for other readiness factors before you launchl Other personal circumstances and of those close to you – health issues, family supportEv Factors beyond your control still depends on YOU and how you react and how youa handle themluatio 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 7n www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 8. Bu Business Visions What you visualize when you think about being in businessin Some Questions to ask yourselfe Where do you want to work?s How many hours per day do you want to work?s What do you want to do daily? When do you want to work?V How do you want to dress for work?is Solopreneur or working with others?i What would you love/hate doing?o Moonlighting* or full charge?n How big do you want your business to be? etc 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 8 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 9. B Why You Need A Business Visionusi To help you plan effectivelyne For Direction – every journey needs a road mapss For Destination – so you know when your dreams have comes trueVi Exit Strategysion 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 9 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 10. B Create Your Vision & Write Your Sound Bite & Vision Statementusi Write down your answers to the questions abovene Create a draft sound bite (elevator pitch), share and get feedbackss Re-write and repeat above step until perfectVi Know your sound bite by heart and say it like you mean itsi Pick a time frameon Create your vision statement based on sound bite 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 10 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 11. B Sample Sound Bite & Vision Statementus A sound bite may read like this:in Hello, my name is Sally. I am a chef, a food blogger and winner of the 2012 Healthy Chefe competition in Johannesburg, South Africa. I graduated from one of the region’s tops culinary schools and have been in the food and beverage industry for over eight years,s working with internationally chefs.Vi I plan to open a one-of-a-kind restaurant in Cape Town, called The Skinny Chef in thes next 3 months, providing a combination of healthy eating with perfectly prepared andi portioned food and outstanding service that creates an extraordinary healthy, gourmeto dining experience.n You can follow my blog at www.skinnychef.com or reach me at 45-555-1212 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 11 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 12. B Sample Sound Bite & Vision Statementus A Vision Statement based on the above might read like this:in In the next three years, The Skinner Chef will be rated as a "five star" restaurant in thees Manhattan area by consistently providing a combination of healthy eating with perfectlys prepared and portioned food and outstanding service that creates an extraordinary healthy, gourmet dining experience.Vision 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 12 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 13. Bu Selecting A Business - Recommendations "Find a job you love and you will never work a day in your life. " - Confuciusin Find a need to filles Don’t rush, take your times Make sure you have enough capitalS Start simple and growel Look for long term potentialec Go for a business industry you know over one that is brand new to youti Specialize if possibleon 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 13 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 14. Ri Choosing The Right Path For Youg Start from scratchht Buy an existing BusinessBu Buy a FranchisesinessPat 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 14h www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 15. T Getting The Skills You Needhe Work for someone else in the same businessRi Take coursesgh Read books / online materialt Get a mentorSkills 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 15 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 16. D What To Do / What Not To Doos Do Don’ta rush into business ownership evaluate your business readinessn research industry, market and competitors neglect research and testingd get the skills you need get caught in a conflict of interestD test your market mortgage everything you owno objectively compare all your options do something you don’t enjoyn ensure you have enough capital spend, spend, spend’ be patient be in business by yourselfts 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 16 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  • 17. End Thank youof Next WeekSe Business Organizationssio Have a great weekend!n Visit our blog for online tools and resourcesOn www.baanabaana.come 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 17 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com

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