EntrepreneurshipLab.net Kickoff Event


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EntrepreneurshipLab.net Kickoff Event

  1. 1. KICKOFF EVENT EntrepreneurshipLab.net
  2. 2. Quick housekeeping notes- Webcast & chat are at http://entrepreneurshiplab.net/live- I’ll check in at the breaks- 9 a.m. to Noon-ish Central Time- Slides, recordings will be posted to member’s area after- Would love for you to Tweet & Facebook all this- I’m @corymiller303 and you can use hashtag #entrelab EntrepreneurshipLab.net
  3. 3. Today’s Sessions- Is Entrepreneurship For You: 8 Questions to Ask- Your Startup’s First Critical Partners- Finding the Right Business Idea For You EntrepreneurshipLab.net
  4. 4. What is the Lab about? EntrepreneurshipLab.net
  5. 5. Helping each other start, run &grow successful businesses EntrepreneurshipLab.net
  6. 6. Entrepreneurshipis a tough, frustrating& often lonely job EntrepreneurshipLab.net
  7. 7. Lab is a private communityto learn & grow;get support, feedback& encouragement EntrepreneurshipLab.net
  8. 8. Hear from entrepreneurswho have succeeded EntrepreneurshipLab.net
  9. 9. Monthly training topics- Based on input and - Leadership and demand Management- Marketing - Products and Services- Work-LIfe Alignment - Personal, Professional and Career Development- Customer Service, Support and Care - Accounting and Financial Management EntrepreneurshipLab.net
  10. 10. Startups are experimentsThe Lab is your place to launch & learn EntrepreneurshipLab.net
  11. 11. Who Am I?- Had 13 jobs since I was 16- Being an entrepreneur is the BEST job I’ve ever had- Started out in newspaper journalism- 3 daily newspapers; 1 sports magazine; 3 nonprofits- Always wanted to be an entrepreneur like my grandfathers EntrepreneurshipLab.net
  12. 12. My Tipping Point- Started professional blog in 2006- Went from unknown to known- Started learning web design at night- Stumbled into a great freelance business- Then my back started hurting from 16 hours days- Wanted to build something bigger than myself EntrepreneurshipLab.net
  13. 13. The dream made real- Went full-time in 2008 with iThemes- We build software & training for web designers- 20+ employees, hundreds of products, thousands of customers and on track for record year in 2012- Named 7th Fastest Growing Co. in OKC in 2011 EntrepreneurshipLab.net
  14. 14. Is Entrepreneurship For You?8 Questions Before the Journey Begins EntrepreneurshipLab.net
  15. 15. Why Start a Businessin the First Place? EntrepreneurshipLab.net
  16. 16. Some Reasons to Start a Biz- Create your ideal job doing rockin’ work- Align work with life- Work with people you like & enjoy- Turn ideas into reality- Make money building something you own- And ... EntrepreneurshipLab.net
  17. 17. Change the World!Make Meaning While Making Money EntrepreneurshipLab.net
  18. 18. The First 8 QuestionsTo Get You Started EntrepreneurshipLab.net
  19. 19. 1. What does your calendarlook like for the next 5 years? EntrepreneurshipLab.net
  20. 20. 1. Block out 2012-2017
  21. 21. What consumes you enoughto devote 1,825 days to? EntrepreneurshipLab.net
  22. 22. 2. What do you want tooffer that makes people’slives awesome? EntrepreneurshipLab.net
  23. 23. 2. Make people’slives awesome
  24. 24. How are you makingsomeone’s life easier, better? EntrepreneurshipLab.net
  25. 25. 3. What does your perfectplayground look like? EntrepreneurshipLab.net
  26. 26. How do you wantor need to work? EntrepreneurshipLab.net
  27. 27. 4. How are you goingto make money? EntrepreneurshipLab.net
  28. 28. Passion without profitis called a hobby EntrepreneurshipLab.net
  29. 29. 5. Who is your pirate crew? EntrepreneurshipLab.net
  30. 30. You need people, dummy EntrepreneurshipLab.net
  31. 31. “If you want to go fast, go alone.If you want to go far, go together.” —African proverb EntrepreneurshipLab.net
  32. 32. 6. What would yougive up to get it? EntrepreneurshipLab.net
  33. 33. Sacrifice EntrepreneurshipLab.net
  34. 34. How BAD do you want it? EntrepreneurshipLab.net
  35. 35. My secret motivatingkick in the pants? EntrepreneurshipLab.net
  36. 36. I’m scared to death of ...REGRET EntrepreneurshipLab.net
  37. 37. I want my life to COUNT EntrepreneurshipLab.net
  38. 38. And so do you! EntrepreneurshipLab.net
  39. 39. 7. What are you doing NOWto achieve your dream? EntrepreneurshipLab.net
  40. 40. What is ONE thingyou can do TODAYthat can make the biggestimpact & move you closer? EntrepreneurshipLab.net
  41. 41. “Vision without executionis hallucination.” —Albert Einstein EntrepreneurshipLab.net
  42. 42. 8. Now ... what are youwaiting for? EntrepreneurshipLab.net
  43. 43. Q&A + Discussion EntrepreneurshipLab.net
  44. 44. Next session starts shortly!
  45. 45. KICKOFF EVENT EntrepreneurshipLab.net
  46. 46. Your First Critical PartnersThe Key People You Need For Success EntrepreneurshipLab.net
  47. 47. 1. Significant Other EntrepreneurshipLab.net
  48. 48. First, most valuable,most influential partner in biz EntrepreneurshipLab.net
  49. 49. S.O. can make orbreak your startup EntrepreneurshipLab.net
  50. 50. Startup is a babyyou’re raising together EntrepreneurshipLab.net
  51. 51. Biz should be ashared compelling visionyou have for your lives EntrepreneurshipLab.net
  52. 52. Before you start,get away together EntrepreneurshipLab.net
  53. 53. 2. Accountant EntrepreneurshipLab.net
  54. 54. Help with managing cashflowand paying taxes EntrepreneurshipLab.net
  55. 55. Cash is oxygen for biz EntrepreneurshipLab.net
  56. 56. Too many fall or fail here EntrepreneurshipLab.net
  57. 57. A financial partner helpsmanage this essential aspect EntrepreneurshipLab.net
  58. 58. Questions to Ask- What will I need to do or plan for this year? (Taxes, etc)- What financial software do you use or recommend?- Where do you bank and why?- What services do you typically provide businesses?- Do you understand my business?- Do you have clients doing similar things to what I’m doing?- What advice & tips do you have for me to ensure maximum success? EntrepreneurshipLab.net
  59. 59. 3. Attorney EntrepreneurshipLab.net
  60. 60. First, to setup your legalbusiness entity EntrepreneurshipLab.net
  61. 61. Second, to have someone tocall when an issue comes up EntrepreneurshipLab.net
  62. 62. 4. Team EntrepreneurshipLab.net
  63. 63. Whoever you needto build & ship EntrepreneurshipLab.net
  64. 64. The Team Could Be ...- Volunteer Team Members- Paid Team Members- Financial Partners- Equity Partners- Vendors / Suppliers- Collaborators / Joint Venture Partners- Consultants / Contractors EntrepreneurshipLab.net
  65. 65. 5. Mentors EntrepreneurshipLab.net
  66. 66. Outside counselExperienced truth tellerNot compensatedNot a team member or partner EntrepreneurshipLab.net
  67. 67. 6. Customers EntrepreneurshipLab.net
  68. 68. Everything in a startupis an experiment to test EntrepreneurshipLab.net
  69. 69. The ultimate test isif someone will giveyou $$$ for it EntrepreneurshipLab.net
  70. 70. Never ever forget:Customers are key partnersin your entrepreneurial dream EntrepreneurshipLab.net
  71. 71. Q&A + Discussion EntrepreneurshipLab.net
  72. 72. Next session starts shortly!
  73. 73. KICKOFF EVENT EntrepreneurshipLab.net
  74. 74. Finding the Right BizOpportunity for YouAligning Who You Are With What You Do EntrepreneurshipLab.net
  75. 75. For now ...Put aside your big idea EntrepreneurshipLab.net
  76. 76. Let’s talk aboutWork-Life Alignment EntrepreneurshipLab.net
  77. 77. Misalignment happenswhen biz doesn’t MATCH you EntrepreneurshipLab.net
  78. 78. Save yourself some grief EntrepreneurshipLab.net
  79. 79. By the way ...This is an exercise to gothrough with your S.O. EntrepreneurshipLab.net
  80. 80. The goal is to ...Know yourselfand what you want EntrepreneurshipLab.net
  81. 81. 1. What are your life’s hopes,dreams & goals? EntrepreneurshipLab.net
  82. 82. Questions to ask yourself- What does success look like - What are your lifestyle and at the end of the day? At the living goals? What does living end of your life? a good life look like for you?- Answer the old question: - Where do you want to be in 6 What do you want written on months, 1 year, 5 years … or your tombstone? when youre 30, 40, 50, 60?- Who do you love and cherish - What are those future facts for most in life? what your life will look life then?- What do your family goals look like? - What does success for you look like and feel?- What are you financial goals? EntrepreneurshipLab.net
  83. 83. Let me ask it another wayWhat do you really wantyour life to be about? EntrepreneurshipLab.net
  84. 84. Take some time with these EntrepreneurshipLab.net
  85. 85. 2. Let’s talk personality ... EntrepreneurshipLab.net
  86. 86. Two Helpful Discovery Tools:Myers-Briggs Test Indicatormbticomplete.comStrengthsFinderstrengthsfinder.com EntrepreneurshipLab.net
  87. 87. Why do these?- Based on extensive survey and research- Helps you understand yourself better- See yourself from the outside-in- Find what you’re naturally good at- Avoid what you’re ridiculously bad at- Recruit people to compliment you- Find areas of interest that you might not have explored EntrepreneurshipLab.net
  88. 88. The step that sometimes gets skipped3. What expertise andexperiences do you have? EntrepreneurshipLab.net
  89. 89. List out your resume in detail EntrepreneurshipLab.net
  90. 90. All the jobs you’ve had?Career fields, industries?Favorite jobs & why?Biggest impact you made? EntrepreneurshipLab.net
  91. 91. 4. What are your passions,hobbies and interests? EntrepreneurshipLab.net
  92. 92. The best businesses ...- Champion a CAUSE (a better tomorrow)- Come out of a CRISIS (an experience)- Promote a CORE VALUE (a belief, philosophy)- Offer a CURE (a solution) EntrepreneurshipLab.net
  93. 93. So what stirs you up? EntrepreneurshipLab.net
  94. 94. Two tips for exploring ...1. Be careful with stress relief hobbies,a business could ruin it for you2. You don’t know what you really likeuntil you explore it. Try it out. EntrepreneurshipLab.net
  95. 95. Now a big question ... EntrepreneurshipLab.net
  96. 96. 5. What would people PAYyou to do that you wouldENJOY the most? EntrepreneurshipLab.net
  97. 97. Make two columns:1. What you want to do most2. What you think people would pay forFind the top rated intersections. EntrepreneurshipLab.net
  98. 98. Now, let’s bringback your big awesomebusiness ideas ... EntrepreneurshipLab.net
  99. 99. The sobering up questionsIt’s time to get really real EntrepreneurshipLab.net
  100. 100. 1. Is it the best way toachieve your goals? EntrepreneurshipLab.net
  101. 101. 2. Will you enjoy chasing it? EntrepreneurshipLab.net
  102. 102. 3. Can you invest thenext 5 years pursuing it? Count the cost EntrepreneurshipLab.net
  103. 103. 4. How interested in itare you now? Rate it on a scale from 1 to 10 EntrepreneurshipLab.net
  104. 104. 5. Is your S.O.fully on board? EntrepreneurshipLab.net
  105. 105. You should know now whether it’s time to ...Take a next stepor reassess & start over EntrepreneurshipLab.net
  106. 106. Business-Life Alignment- Align with who you are & what you want- Play to your strengths, not weaknesses- Pursue what helps you best achieve your goals & dreams- And will capture your interest & secure your long-term commitment to see it succeed EntrepreneurshipLab.net
  107. 107. Q&A + Discussion EntrepreneurshipLab.net
  108. 108. Next webinars- The Great Entrepreneurial Experiment- Oct. 10 at 7 p.m. Central- Essential Steps for Bootstrapping Your Biz- Oct. 23 at 7 p.m. Central EntrepreneurshipLab.net
  109. 109. In the meantime ...- Complete the member survey- http://entrepreneurshiplab.net/dashboard/- Post an introduction or question in the forum- http://entrepreneurshiplab.net/forum/- Invite someone else to join you ... EntrepreneurshipLab.net