Cost of Being Your Own Boss Lisa S. Sims, Chief Technology Consultant The IT Mechanic www.theitmechanic.com September 22, 2008

A Day In The Life

Personal Assessment Why do you want to be in business for yourself? What marketable skills do you have? Will you enjoy doing it for a living? Are you willing to make the commitment to make it a success?

Why do you want to be in business for yourself?

What marketable skills do you have?

Will you enjoy doing it for a living?

Are you willing to make the commitment to make it a success?

Small Business Org Chart CEO Marketing Director (Your Name) Operations Manager (Your Name) Finance Director (Your Name) Sales Manager (Your Name) Advertising/Research Manager (Your Name) Customer Service Manager (Your Name) Accounts Receivable Manager (Your Name) Accounts Payable Manager (Your Name)

SWOT Analysis Threats Is there new or increased competition? Is our industry in the maturing or declining phase? Are there changes coming in government regulations or changing technologies that could have negative impact? Opportunities Changes in technologies that would enable us to increase productivity or market share. Changing trends in consumer buying habits that would favor our product or service Weaknesses What are the causes of the current complaints we receive? What could we do better? What are we currently doing that is hurting our business? Strengths What is our competitive advantage? What is our specialty? What is the biggest benefit that people receive from buying our product or service?

Threats

Is there new or increased competition?

Is our industry in the maturing or declining phase?

Are there changes coming in government regulations or changing technologies that could have negative impact?

Opportunities

Changes in technologies that would enable us to increase productivity or market share.

Changing trends in consumer buying habits that would favor our product or service

Weaknesses

What are the causes of the current complaints we receive?

What could we do better?

What are we currently doing that is hurting our business?

Strengths

What is our competitive advantage?

What is our specialty?

What is the biggest benefit that people receive from buying our product or service?

Business Foundation Business Components Unique Selling Position Invoicing Contracts Customer Service

Can’t Please Everybody! “ I don't know the key to success, but the key to failure is trying to please everybody . ” -Bill Cosby

“ I don't know the key to success, but the key to failure is trying to please everybody . ”

-Bill Cosby

Income Multiple Streams of Income

Multiple Streams of Income

Circle of Success Resources -Podcasts -Books -Magazines Networks Capital Technology Plans -Business Plan -Marketing Plan You -Health -Attitude

Prepare For The Worse “ Expect the best. Prepare for the worst. Capitalize on what comes.” --Zig Ziglar

“ Expect the best. Prepare for the worst. Capitalize on what comes.”

--Zig Ziglar

Resources Websites www.entrepreneur.com www.wsj.com www.sba.gov www.microsoft.com/smallbusiness www.score.org www.msnbc.msn.com http://www.asbdc-us.org Books Your Best Life Now – Joel Osteen Small Business Survival Guide – Cliff Ennico The 4-Hour Workweek – Timothy Ferriss The EMyth Revisited - Why Most Small Businesses Don’t Work and What to Do About It – Michael Gerber

Websites

www.entrepreneur.com

www.wsj.com

www.sba.gov

www.microsoft.com/smallbusiness

www.score.org

www.msnbc.msn.com

http://www.asbdc-us.org

Books

Your Best Life Now – Joel Osteen

Small Business Survival Guide – Cliff Ennico

The 4-Hour Workweek – Timothy Ferriss

The EMyth Revisited - Why Most Small Businesses Don’t Work and What to Do About It – Michael Gerber

Lisa’s Upcoming Book Available late October early November 2008 on Amazon.com and Barnes and Noble.com $12.99 For more information,visit www.bpronetwork.com.

Available late October early November 2008 on Amazon.com and Barnes and Noble.com

$12.99

For more information,visit www.bpronetwork.com.

Questions?