What is your vehicle for career success?

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Explore 4 ways to be Self Employed - The Benefits and the Challenges that appy to each one and how to assess if you are a good candidate for Self-Employment. Are you up for the Challenge?

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What is your vehicle for career success?

  1. 1. What is Your Vehicle for Career Success ?Assessing the potential of 4 different self-employment options<br />“You can have <br />any color you <br />like – As long as<br />it’s black.”<br />- Henry Ford<br />Clue#1<br />If you want to make a choice that will get you to your preferred destination:<br />Don’t just <br />look for a <br />nice color<br />Robert Glenister *The Entrepreneur’s Source *Phone: (408) 689-2545 *Email: rglenister@esourcecoach.com<br />
  2. 2. What is Your Vehicle for Career Success ?Assessing the potential of self-employment options<br />
  3. 3. What is Your Vehicle for Career Success ?Assessing the potential of self-employment options<br />
  4. 4. What is Your Vehicle for Career Success ?Assessing the potential of self-employment options<br />
  5. 5. What is Your Vehicle for Career Success ?Assessing the potential of self-employment options<br />
  6. 6. A world of choice and confusion<br />
  7. 7. A – B = C<br />A – B = C *<br /> Skills and Skills and Skills and<br /> Knowledge KnowledgeKnowledge<br /> Needed to which I already needed, which<br /> Run this kind have I have to learn<br /> Of business or get someone<br /> Successfully to volunteer or hire to do this role<br />* What Color is your Parachute – Richard Bolles (Ten Speed Press)<br />
  8. 8. 4 Options<br />Startup<br />Consultant<br />Start your own Small Business<br />Franchise / Licensed Business<br />
  9. 9. Startup Inc.!<br />From Idea to IPO in 7 steps !<br />Think of a big idea<br />File a provisional patent – use a patent lawyer<br />Write a Business Plan: Keep it to 15 pages or less.<br />Executive Summary -- This is your elevator pitch.<br /> Investor Relations -- How much money you want and what you're going to do with it.<br /> Description of Business -- Explain the goods or services you are going to sell<br /> Sustainable Competitive Advantage -- Your unfair advantage.<br /> Competition-- Explain the other offerings in the marketplace and why yours is better.<br /> SWOT Chart -- Strengths, weaknesses, opportunities, and threats.<br /> Timeline-- What you are going to do and when.<br /> Financials – Your projections of costs, profits and margins<br />Use the Business Plan to obtain funding from venture capitalists<br />Build the product<br />Market the Product<br />If successful you can take your business to IPO on the Stock Exchange<br />To learn more, go to: http://en.wikipedia.org/wiki/Startup_company<br />
  10. 10. Consultant<br />Benefits of being an independent consultant:<br /><ul><li>Low startup costs
  11. 11. No employees to manage
  12. 12. You set your own schedule
  13. 13. Each day is different
  14. 14. Can produce a good income</li></ul>Challenges of being a consultant :<br /><ul><li>Variable Demand
  15. 15. Recognition
  16. 16. Marketing / Promotion
  17. 17. Marketing while working
  18. 18. Working Alone
  19. 19. Business Skills
  20. 20. Technical Skills
  21. 21. Customer Service Skills
  22. 22. Job Security?
  23. 23. Pricing
  24. 24. Administration</li></ul>To learn more, go to: http://en.wikipedia.org/wiki/Consultant<br />
  25. 25. Start your own Small Business<br />Skills and Abilities:<br /><ul><li> The know-how to manage and operate a business
  26. 26. The ability to create and execute a plan
  27. 27. Money and Financial expertise
  28. 28. Desire to go it alone
  29. 29. Ability to take risks</li></ul>Benefits:<br /><ul><li>Do what you love
  30. 30. You are the boss !
  31. 31. Build an Empire
  32. 32. No Pay ceiling
  33. 33. Involve family members
  34. 34. Build equity
  35. 35. Sell at a Profit</li></ul>Challenges of being a Small Business Owner:<br /><ul><li>Cash Flow
  36. 36. No pricing advantage over larger competition
  37. 37. Fluctuating market conditions
  38. 38. Understanding your local niche market
  39. 39. How to Market and Promote yourself
  40. 40. Dealing with late payments</li></ul>DO YOUR MARKET ANALYSIS CAREFULLY AND THOROUGHLY !<br />To learn more, go to: http://en.wikipedia.org/wiki/Small_business <br />
  41. 41. Why Do Independent Businesses Fail?<br />The E Myth Revisited<br /> By Michael E. Gerber.<br />Fatal assumption #1: Doing what you know, love and enjoy will bring success.<br />Fatal assumption #2: By working hard in the business I will be successful<br />Fatal problem: By working ‘in’ the business instead of ‘on’ the business you in essence buy yourself a job and you run out of the time & energy needed to do the most important work of an owner- marketing, promoting, managing and administering the business.<br />* The E-Myth Revisited – Michael E. Gerber (Harper Business)<br />
  42. 42. E-Myth Business Concepts<br />7 Centers of Management Attention<br />ILWE<br /><ul><li>Income
  43. 43. Lifestyle
  44. 44. Wealth
  45. 45. Equity</li></ul>A video based on Michael Gerber’s E-Myth system can be viewed here here<br />
  46. 46. The Solution<br />According to Michael Gerber:<br />The business of running any business is to have well defined systems and procedures for everything<br /><ul><li>Strategy
  47. 47. Staffing
  48. 48. Operations Manuals
  49. 49. Marketing Strategy
  50. 50. Key Performance Indicators
  51. 51. Unique Selling Proposition and Guarantee
  52. 52. Leadership Development
  53. 53. Pricing and Invoicing
  54. 54. Lead Generation Program
  55. 55. Lead Conversion Strategy</li></ul>…<br />A video based on Michael Gerber’s E-Myth system can be viewed here here<br />
  56. 56. What is the Franchise “Key to Success”?<br />Already successful<br />Systemized business operations<br />Transfer of knowledge and best practices between franchisor and franchisees<br />Team approach to running a business<br />
  57. 57. Franchising<br />The Elements of a successful Franchise:<br /><ul><li>A Proven Revenue Stream and Brand Name
  58. 58. Exclusive territory
  59. 59. In depth training plus on-going 1-2-1 coaching (weekly)
  60. 60. Your first 90 Days (varies) Action Plan to Jumpstart your business
  61. 61. Help to enable you develop and execute your business plan
  62. 62. Leads generated from national web site, 1-800# and possibly national contracts
  63. 63. On-going Marketing tools and analysis
  64. 64. Virtual Office – Providing all your back-office needs
  65. 65. Email and phone support
  66. 66. Assistance with licensing requirements
  67. 67. Camera ready artwork
  68. 68. Pre-start marketing program
  69. 69. Your own web site
  70. 70. Assessment Tools
  71. 71. Operating Manuals</li></li></ul><li>Your Guide to the Right Franchise<br /> Discover the ideal Franchise Match that will meet your goals, needs and expectations<br /> We eliminate the guess work!<br /><ul><li>Decide if owning a franchise is right for you.
  72. 72. Find franchises compatible with your interests, skills & budget.
  73. 73. Communicate with franchisors throughout the negotiation process.
  74. 74. Determine how many total units a franchise has
  75. 75. What the average income was for each franchise
  76. 76. What factors will increase your chance for success
  77. 77. How much profit you could make per year </li></ul>We will help you discover new business ideas and the <br />best franchises for you, at no obligation to you.<br />Click here to be taken to Franchise Match<br />Robert Glenister – The Entrepreneur’s Source – Phone: (408) 689-2545 - Email: rglenister@esourcecoach.com <br />
  78. 78. 4 Self Employment Options<br />Click here to be taken to Startups (Wikipedia)<br />Click here to be taken to Consultants (Wikipedia)<br />Click here to be taken to buying a business (Wikipedia)<br />Click here to be taken to Franchise Match<br />Robert Glenister – The Entrepreneur’s Source – Phone: (408) 689-2545 - Email: rglenister@esourcecoach.com <br />

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