Start Me Up - 6 Steps to Launching Your Own Startup Company

START ME UP
6 Steps to Launching Your Own Startup Company
Clint Edmonson, Co-founder of Zootography.com

Disclaimer!
IANAL
I am not a lawyer!
CALOTMAAYOR
Consult a lawyer or take my advice at your own
risk!

Step 1:Have a Great Idea

Solve a pain
Change the world
Make meaning
Compelling
Realistic
Profitable
Step 1:Have a Great Idea

Step 2: Have A Plan

Step 2: Have A Plan
Market Analysis
Customer Profile - Market Size & Growth Potential - Major Competitors & Participants
Product Offering
Pricing - Differentiators & Positioning
Marketing Plan
Message - Marketing Plan
Financial Projection
5 Year Earnings Prediction
Exit Strategy?

A market without competition aint!

The Fundamental Business Equation
Profit = Revenue - Costs
What do you call it when costs exceed revenue?
A hobby!

Step 3: Found Your Company

Step 3: Found Your Company
Choose a business structure
Proprietorship Partnership Corporation (S,C,Non-Profit, etc,) LLC …
Get an Employer Identification Number (EIN)
For tax returns, even if you won’t hire employees
Get a bank account
Seed with initial funding for up front costs
Register your trademark
Use TM right away for some protection, get it formally registered for more protection

Step 4: Build Your Profit Engine

Step 4: Build Your Profit Engine
Realize your dream!
Buckle down and get to work. Build value!
Leverage your allies
Angel Investors Venture Capitalists Gov’t Assistance Programs Vendor Incentives

Step 5: Tell the World About It

Step 5: Tell the World About It
What percentage of your budget should be spent on marketing? 30% 50% 70%
How many impressions turn into leads for a typical marketing campaign? 3% 10% 18%
Understand the three marketing power tools
Impressions Leads Mavens

Marketing Impression Example #1

Marketing Impression Example #2
Are you a technology start-up?
BizSpark is an innovative new program that unites Startups with entrepreneurial and technology resources in a global community with a common goal of supporting and accelerating the success of a new generation of high-potential Startups.
http://www.microsoft.com/bizspark

Step 6: Make $$$

Step 6: Make $$$
Favor regular, recurring transactions
Companies live and die by monthly cash flow
Keep good books and pay your taxes
Estimated quarterly taxes Others – Federal, State, City, Franchise, Sales, Use
Find a good lawyer…
They say every company gets sued at some point
and a better accountant
Provide consultation on financial best practices and tax laws

Resources
The Art of the Start – Guy Kawasaki
How to Start A Business In Missouri – Entrepreneur Press
Streetwise Business Tips – Bob Adams
The Tipping Point – Malcolm Gladwell

Thank You
Clint Edmonson
Cofounder - Zootography.com
Email: clint@zootography.com
Web: http://www.zootography.com
Twitter: @clinted

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Start Me Up - 6 Steps to Launching Your Own Startup Company

by Clint Edmonson on Aug 31, 2009

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