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Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
Partner Training: Starting a Business - 101
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Partner Training: Starting a Business - 101

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A short training presentation on starting a business: 101 for BizCentral & CharityNet USA partners.

A short training presentation on starting a business: 101 for BizCentral & CharityNet USA partners.

Published in: Business, News & Politics
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  • 1. Partner Service & Sales Training
  • 2. I. Introduction to Starting a Business II. Getting Started III. Legal Formation IV. Business Financing V. Creating a Marketing Plan VI. How BizCentral USA Aides Entrepreneurs in Starting a Business VII. Review
  • 3. • Each year, millions of people identify a business opportunity. They then try to translate that opportunity into a profitable business. • Small firms represent 99.7% of all employer firms. • Small businesses create more jobs annually than large businesses do.
  • 4. • Desire for responsibility • Tolerance for uncertainty • Confidence in their • Ability to be flexible ability to succeed • Desire to work hard • High energy level • Total dedication to the • Need to accomplish business goals • Strong market demand • Strong organizational for their product or skills services • High degree of • Luck commitment
  • 5. • Taxes: There is an amazing array of goodies in the tax code to help small business owners. • Enjoyment: A business allows you to get paid for doing something that you truly enjoy. • Independence and flexibility: More freedom and independence working for yourself. Once the business is firmly established, there is flexibility to make sure you don't miss the events that matter most. • Money: The risks of forgoing a steady paycheck can pay off when you own your own business. You can get rich in a small business, or at least do very well financially.
  • 6. I. Introduction to Starting a Business II. Getting Started III. Legal Formation IV. Business Financing V. Creating a Marketing Plan VI. How BizCentral USA Aides Entrepreneurs in Starting a Business VII. Review
  • 7. • Learn as much as possible about the proposed business • Ask questions • Join industry associations • Research the target market and assess the needs • Study successful competitors carefully
  • 8. • Every business begins with an idea. A business plan is necessary to guide the investigation and develop this idea. • A business plan will consider all parts of the business in detail: • The Industry • Competition • Target Market • Risks & Success Potential • Financials
  • 9. • Location is important to the success of any business and should be determined early in the planning process. • Consider location in regard to: • Customers • Suppliers • Employees • Government regulations. • The selected site should meet the business’ needs.
  • 10. • Various types of licenses are required in order to conduct business: • Local: Business licenses are issued by cities to businesses located within the city limits and for businesses conducting business within the city limits. • State: Businesses may need to be registered with the state tax authority. • Federal: Business must have a federal identification number (federal tax number).
  • 11. • There may be other licenses that affect particular businesses: • Occupational Safety & Health Administration • Health Department • Alcoholic Beverage Control • Department of Agriculture • Always check with the industry associations to determine if other licenses apply to the business.
  • 12. • Before opening, the business owner should consult with an insurance agent to develop a comprehensive insurance plan. • A basic package may include the following types of protection: • Fire • Automobile • Liability • Employee Health • Crime • Product Liability • Workers Comp • Key Person • Business Interruption
  • 13. • Financial records are an extremely important tool for managing the inflows and outflows of a business’ activity. • The basic format includes: • Accounts Receivable Journal • Cash Payments Journal • Accounts Payable Journal • Cash Receipts Journal • General Journal • Sales Journal • The standard financial statements include: • Balance Sheet • Income Statement • Statement of Owner’s Equity • Statement of Cash Flows
  • 14. I. Introduction to Starting a Business II. Getting Started III. Legal Formation IV. Business Financing V. Creating a Marketing Plan VI. How BizCentral USA Aides Entrepreneurs in Starting a Business VII. Review
  • 15. • There’s no universally “right” structure for all businesses. • The decision for the legal form of business will be made to best suit the business owner’s needs, personal management style, and financing requirements. • Evaluate the advantages and disadvantages of each business formation, paying special attention to the tax implications and government formalities.
  • 16. • For starters, it’s important to take the time to review the business plan. What should emerge are answers to questions like: • Do you want investors as shareholders in your company? • Do you want to maintain control of the company if you have investors involved? • Do you want to avoid double taxation? • Is there a great risk of liability associated with your specific business?
  • 17. • 4 forms of business ownership: – Sole Proprietorships: limited to a single owner who has total control of, and responsibility for the business. – Partnerships: an association of two or more persons acting as co-owners of the business. – Corporations: a separate legal entity that is formed by filing Articles of Incorporation with the Secretary of State. – Limited Liability Companies: a hybrid form of organization that combines features of both a partnership and a corporation. – S-Corp: a special form of a corporation where the business is incorporated as a regular (or “C”) corporation, but asks for special permission from the IRS to be taxed as a partnership.
  • 18. Sole Proprietorship Partnership Corporation • Easy to Organize • Combined • Limited Liability • Owner is Funding & Talents for Managers and Personally Liable with Partner Stockholders • Minimum Legal • Flexibility in Profit • Ownership is Restrictions & Loss Sharing Transferable • Business • Individual • Costly & Terminates with partners act as Complicated to Owner agents for the Establish partnership • Double Taxation for Regular Corporations
  • 19. Limited Liability S-Corporation Corporation (LLC) • Does Not Pay • Not personally liable Income Tax for business debts, • Extensive Record such as court Keeping judgments or legal • “S” corporation settlements income or loss is obtained against the passed through to business. stockholders and • A few states impose taxed at the very high taxes on individual level LLCs • Flexible Management
  • 20. I. Introduction to Starting a Business II. Getting Started III. Legal Formation IV. Business Financing V. Creating a Marketing Plan VI. How BizCentral USA Aides Entrepreneurs in Starting a Business VII. Review
  • 21. • Finding the right kind of funding for a business is a critical step. • Business owners should be selective and smart when seeking money for a startup business. • To identify which form of financing is just right, think about long-term personal and business goals.
  • 22. • Seven ways to fund your business: • Bootstrapping: Funding the business yourself: using your savings, your initial revenues, credit cards, equity pulled from your home, etc. • Debt Financing: Requires that you qualify for a traditional bank loan or that you find a bank that can provide you a loan with an SBA guarantee. • Friends and Family: Just like it sounds, raise money from people you know well, either in exchange for equity or as a loan to be repaid. Continued…
  • 23. • Seven ways to fund your business: • Grants: Special programs designed to fuel the innovative fires of small businesses, and typically target specific groups or types of businesses, such as: technology businesses, veteran-owned businesses, women-owned businesses and minority-owned businesses. These are rare for for-profit ventures. • Angel Investors: Individuals who invest in companies at an early stage in exchange for equity and the chance to help guide the company. Continued…
  • 24. • Seven ways to fund your business: • Factoring: A financial institution (factor) advances the entrepreneur money against proceeds from the entrepreneur's outstanding accounts receivables. • Venture Capitalists: Individuals or companies with large amounts of capital to invest; expect higher returns. They invest as a profession and generally on behalf of other investors.
  • 25. I. Introduction to Starting a Business II. Getting Started III. Legal Formation IV. Business Financing V. Creating a Marketing Plan VI. How BizCentral USA Aides Entrepreneurs in Starting a Business VII. Review
  • 26. • Most small business owners view promotion and advertising as a “luxury” that they cannot afford. • Unfortunately, this usually results in ineffective promotion and poor results. • Marketing is key in discovering the needs from consumers and how the business will answer those needs.
  • 27. • The 4 P’s: Product, Product Promotion, Place & Price, are factors that a business can control. Price Consumer Promotion Needs • The goal is to base decisions on the 4 P’s around the consumers in the Place target market.
  • 28. • The best approach for a startup business is an integrated marketing strategy. This will combine multiple marketing and communication strategies based on the primary goals of the business and the needs of consumers. • Some of the various types of marketing strategies include: • Grassroots Marketing • Online Marketing • Public Relations • Traditional Advertising • Affiliate Marketing • Social Media • Email Marketing • Strategic Alliances
  • 29. I. Introduction to Starting a Business II. Getting Started III. Legal Formation IV. Business Financing V. Creating a Marketing Plan VI. How BizCentral USA Aides Entrepreneurs in Starting a Business VII. Review
  • 30. • Starting a business can be very rewarding but very complex as well. In addition to providing your services, you must also hire, train & manage employees, maintain compliance with local government regulations and taxes, understand your competition and position your company to grow. • BizCentral USA offers an array of services, tools and resources to accelerate the startup process, enabling entrepreneurs to spend less time on the paperwork and more time making money and growing their business!
  • 31. • BizCentral USA offers a service for every step of the startup process: • Business Plan Development • Business Certifications • Incorporation • Graphic Design • Website Development • Marketing • Accounting & Bookkeeping • And Much More
  • 32. • We provide entrepreneurs with Articles, How To’s and Tips to help them start a business. • How to Obtain Free Publicity for your New Business • How to have Thousands of Reps Marketing your Product • Marketing with Trade Associations • Tips on Raising Money for your Startup Business • Attracting Investors or Venture Capitalist • 9 Ways to Succeed at Growing Your Business on the Internet • Secrets to Successfully Starting your Business • Drive Traffic To Your Website to Grow a New Business • And Much More
  • 33. • We provide access to Web Tools, Checklists and Reports to help with startup plans. • Free Startup Checklist • Free Business Counseling • Free Assessment Tool • Free Small Business Planner • Free Startup Expense Tool • Free Online Courses • Free Research Tools
  • 34. I. Introduction to Starting a Business II. Getting Started III. Legal Formation IV. Business Financing V. Creating a Marketing Plan VI. How BizCentral USA Aides Entrepreneurs in Starting a Business VII. Review & Closing
  • 35. • Owning a business is the dream of many Americans. Managing one’s own business can be a personally and financially rewarding experience. • In the serious process of starting a business, there are certain questions that must be asked and answered, research that must be conducted and finances that must be sought before certain steps can be taken.

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