START ME UP6 Steps to Launching Your Own Startup CompanyClint Edmonson, Co-founder of Zootography.com

Disclaimer!IANALI am not a lawyer!CALOTMAAYORConsult a lawyer or take my advice at your ownrisk!

Step 1:Have a Great Idea

Solve a painChange the worldMake meaningCompellingRealisticProfitableStep 1:Have a Great Idea

Step 2: Have A Plan

Step 2: Have A PlanMarket AnalysisCustomer Profile - Market Size & Growth Potential - Major Competitors & ParticipantsProduct OfferingPricing - Differentiators & PositioningMarketing PlanMessage - Marketing PlanFinancial Projection5 Year Earnings PredictionExit Strategy?

A market without competition aint!

The Fundamental Business EquationProfit = Revenue - CostsWhat do you call it when costs exceed revenue?A hobby!

Step 3: Found Your Company

Step 3: Found Your CompanyChoose a business structureProprietorship Partnership Corporation (S,C,Non-Profit, etc,) LLC …Get an Employer Identification Number (EIN)For tax returns, even if you won’t hire employeesGet a bank accountSeed with initial funding for up front costsRegister your trademarkUse TM right away for some protection, get it formally registered for more protection

Step 4: Build Your Profit Engine

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

Step 5: Tell the World About It

Step 5: Tell the World About ItWhat 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 #2Are 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 transactionsCompanies live and die by monthly cash flowKeep good books and pay your taxesEstimated quarterly taxes Others – Federal, State, City, Franchise, Sales, UseFind a good lawyer…They say every company gets sued at some pointand a better accountantProvide consultation on financial best practices and tax laws

ResourcesThe Art of the Start – Guy KawasakiHow to Start A Business In Missouri – Entrepreneur PressStreetwise Business Tips – Bob AdamsThe Tipping Point – Malcolm Gladwell

Thank YouClint EdmonsonCofounder - Zootography.comEmail: clint@zootography.comWeb: http://www.zootography.comTwitter: @clinted