2. Legal & Ethics –BE AWARE
• Law’s and Regulations: Even small businesses
must follow state and federal labor laws.
• Safety Issues: Managers need to know all Safety
issues in order to be compliant
• Legal Liability: Liability insurance is essential
• Image Problems:When employees act
unethically, you can damage your business
3. Data Record Security/Protection
• Securely keeping data safe is IMPORTANT
• Credit Card information from Customers
can be stolen by employees or vendors and
need to be secured
• Securing Employee information is
IMPORTANT for their safety/identity
4. ApplyingTechnology
to Business needs
Times are changing, we need to keep up with the
times:
• Ipads for Cashiers/andCredit Card Readers
• Software specific for Scheduling,
• CompanyWebsites/Social websites/blogs
• Order EntryTouch Screens (POS touch)
• Kitchen Display Screens
• Hand Held Inventory Devices
• Coaster Pages
• AmbianceCreationTechnology: Indoor
temperature, Lighting, music
6. What? How?
• Put yourself out there! Rent a booth at a farmers
Market, Etsy, Craigslist and start creating. Get in
the kitchen and create for every event you are
invited to!
• Be yourself.
• Reach out for support.
• Speak on behalf of your Business
–you are your best salesperson!
• Start a blog.
7. Get Funding?!
• The federal government does not provide grants to
private individuals to start for-profit businesses.
However, there are a few creative ways to receive funding:
• Grants: State, Private, Corporate, Capital,Cooperative.
• Loan Financing
• Angel Investors (Family or Friends-beg, borrow or steal-(well maybe not steal))
• Go Fund Me – Crowd funding website
• Indiegogo –The worlds largest funding platform.
• Kickstarter –The worlds largest funding for creative projects!
8. Small Business Resources
• Austin Chamber of Commerce
www.austinchamber.com
• The State ofTexas www.Texas.gov (“small business” –
search
• Small Business Administration http://www.sba.gov/
• SCORE Mentoring and Education
http://www.score.org/
• B.I.G. Austin (Business Growth Investment)
http://bigaustin.org/ education and loans
• The Incubation Station www.theincubationstation.com
Austin based mentoring program
9. Leadership
• Rarely can entrepreneurs make a company succeed by
themselves. Leadership is the process through which
an entrepreneur is able to influence employees to
achieve their objectives of their dream.
• To be an effective leader, one must:
– Build trust and confidence among employees
– Communicate effectively with them.
10. In Conclusion, 6 Steps to become an
Entrepreneur
1. Self-Motivation & Planning
2. Creativity
3. People Skills
4. Time Management
5. Sales & Marketing
6. Leadership & Finance
Editor's Notes
The federal government does not provide grants to private individuals to start for-profit businesses. You may be able to find private foundation grants or state grants, however, or you may qualify for grants for specific aspects of starting a business. If you are a woman, a disabled person or a member of a minority group, check your eligibility for the federal grants available to such groups for business purposes.State GrantsIn Iowa, the Department of Economic Development provides a grant of up to $50,000 to help small business owned by women. The purpose of the grant is to help business owners leverage bank finance using the grant funding. Business owners with a 10 percent cash investment may be eligible for this funding.Private GrantsThe Amber Foundation conducts private fundraising and awards grants of up to $1,500 to women. The purpose of the funds is to help women open small, home-based business operations, so a bakery operating in the home would be eligible. The Idea Café offers grants of up to $1,000 to entrepreneurs with innovative ideas; in this instance, a bakery business with an unusual offering may qualify for the money.Corporate GrantsSome corporations offer funding for particular communities, for example paper and tissue producer Georgia-Pacific supports projects in the communities where it operates. A grant administered by the corporation funds small businesses that improve the lives of community members, and a bakery business may qualify if it is located in one of these communities.Capital GrantsThe American Recovery and Reinvestment Act of 2009 provides federal grants through the Department of Energy specifically for the installation of eligible types of renewable energy in qualified premises. If you own the premises from which you plan to operate your bakery business, you may obtain grant finance to convert from grid electricity to solar or wind energy for business use. You must intend to begin construction before the end of 2011 to qualify.Cooperative GrantThe U.S. Department of Agriculture offers up to $150,000 to people living in rural communities that incorporate a cooperative or a nonprofit corporation. To be eligible for the funds, the organization must operate a business to the benefit of its members. A bakery business incorporated as a cooperative that is located in a rural area may qualify for funding to develop into a profitable concern that benefits its members.
#1 Self-MotivationThe most important skill any entrepreneur needs is the ability to wake up in the morning and begin working. If you have been 10 minutes late to work everyday for the past five years, most likely that habit will not change if you own your own business. Not only do you need to be able to wake-up, but you also need to be able to begin and end work on time. Many first time entrepreneurs find themselves wasting away their day talking on the phone, filing and developing binders for clients that do not exist. Schedule your day and stick to your schedule. #2 Creativity Every entrepreneur needs to be creative in their product and their business. #3 People Skills. Communication. Ethics and morals are the foundation of every good entrepreneur. Early on you must decide what you and your business will stand for and what lines you will refuse to cross. Many entrepreneurs close their doors because the dollar outshines their morals. If you stray too far from your morals you will give yourself and your business a bad name. No one wants to do business with someone who will not stand up for their own morals.#4 Time ManagementAs mentioned under Self-MotivationSchedule your day and stick to your schedule. This cannot be emphasized enough. New entrepreneurs need to realize that every minute is valuable. When first starting out, most likely you will not have enough “work” to fill an eight hour day. This does not mean that you have time to take a 3 hour lunch with friends. Utilize this time to learn more skills related to your business, find ways to advertise and contact potential clients.#5 SalesNo matter how much you don’t like the idea of it, every business has to work with sales. Each industry and business has a unique way of handling their sales. As an entrepreneur, it is your job to figure out what type of sales you prefer and what type is best for your services or products. If you have ever worked in retail sales or advertising you already have an edge on most other hopeful business people. All entrepreneurs will benefit from sales seminars, books and motivational programs.#6 FinanceWhen in business, knowledge of finance is a must. Knowing how to balance a checkbook and keep track of numbered invoices is all most small businesses need to start out. The most important aspect of small business finance is scheduling time specifically for your finance management and doing it. Granted it helps to have an accounting degree or extensive QuickBooks knowledge but these skills are not mandatory.Possessing or nurturing these skills before going into business will help ensure a successful outcome. So long as you have an excellent salable idea and these six entrepreneurial skills, nothing can stop you from doing your best.
