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Do You Really Want to
Start a Business?
Things to consider
by Bill Decker
Disclaimer: I Hate Power Point.
Never liked it. Bad Crutch.
I still don’t like it.
Why is everyone so hooked on it?
That’s Why I Formed
M.A.P.P.
(Men Against Power Point)
All Kidding Aside. There are Forks in the
Road. Decisions to Make
Do you want a “lifestyle” business
or a “wealth creating” business?
Lifestyle: (e.g.) Coach, Trainer, Real
Estate Agent, Coffee Shop
Wealth Creating: (e.g.) Software firm,
School, Chain of Coffee Shops
Next Fork: Go With The Wave or
Fight Against the Wave?
Starbucks Fought the Wave
Second Cup Rode the Wave
Starbucks is more valuable
Second Cup was an easier sell
Fork: Do you work On your business?
Or do you work IN your business?
Buy or Build?
What are the Pros and Cons of each?
Pros of Buying:
System/Market
Share/Education/Clients/“Turn
Key”/Faster Time to Market
Cons of Buying:
Clean canvas? Shado...
Pros Of Building:
Your Movie. Your Way. Less
Surprises. No Rules. No Rulebook.
Cons of Building:
Hard. Slow. Lonely. No Ru...
Building Makes Sense for Wealth
Creation.
Buying Makes Sense for Lifestyle Company.
Next Fork: Partners or
Not?
“A committee of 1, gets things done.”
Pro’s and Cons of
Partners
Who is the perfect partner?
“When two men agree on everything in business,
one is usually unnecessary.”
Take away: Most Important Piece of
Paper to Sign With Your Partner?
Next Fork: Your Money or
OPM (other people’s money)?
Pros and cons of your
money vs. OPM
Sources of OPM
But wait! Another Fork:
Debt or Equity?
Pros and Cons of Debt
Pros and Cons of Equity
How do you decide?
cash/expertise/personality (yours and theirs)
/confidence/motivation/
Common Mistakes Made in
Start ups/New Business
1) No answers to our
previous questions
2) No answers to the 4
marketing questions:
Who is the client?
What is his/her problem?
What is our solution?
Why is our s...
3) No plan.
“Plan your work, and work your plan”
4) No core
What Business are we in?
5) No support
4 areas of support
health
household
money
maker
6) Forgetting the motto
“Business is not about taking risks.
It’s about minimizing risks.”
7) No tornado
My Personal KSF
8) #1 mistake
Product focussed. Not market focussed.
“Cherchez le creneau.”
9) #2 mistake
No strategy.
10) No accountability
“You have to serve somebody.”
Resources
Free:
http://lemonadestand.podomatic.com
Paid:
Booklet: Lessons from the Road; Start up tips 1-2-3
https://www.s...
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Business Start up Questions to Ask for Entrepreneurs and CEO's

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Quick fun easy slide show about starting a business, the problems start ups make and decisions CEO's face

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Business Start up Questions to Ask for Entrepreneurs and CEO's

  1. 1. Do You Really Want to Start a Business? Things to consider by Bill Decker
  2. 2. Disclaimer: I Hate Power Point. Never liked it. Bad Crutch.
  3. 3. I still don’t like it. Why is everyone so hooked on it?
  4. 4. That’s Why I Formed M.A.P.P. (Men Against Power Point)
  5. 5. All Kidding Aside. There are Forks in the Road. Decisions to Make
  6. 6. Do you want a “lifestyle” business or a “wealth creating” business?
  7. 7. Lifestyle: (e.g.) Coach, Trainer, Real Estate Agent, Coffee Shop
  8. 8. Wealth Creating: (e.g.) Software firm, School, Chain of Coffee Shops
  9. 9. Next Fork: Go With The Wave or Fight Against the Wave?
  10. 10. Starbucks Fought the Wave Second Cup Rode the Wave Starbucks is more valuable Second Cup was an easier sell
  11. 11. Fork: Do you work On your business? Or do you work IN your business?
  12. 12. Buy or Build? What are the Pros and Cons of each?
  13. 13. Pros of Buying: System/Market Share/Education/Clients/“Turn Key”/Faster Time to Market Cons of Buying: Clean canvas? Shadow organization? Debts? Overpayment? Intermediaries? Bad Deals Made?
  14. 14. Pros Of Building: Your Movie. Your Way. Less Surprises. No Rules. No Rulebook. Cons of Building: Hard. Slow. Lonely. No Rules. No rulebook. No clients.
  15. 15. Building Makes Sense for Wealth Creation. Buying Makes Sense for Lifestyle Company.
  16. 16. Next Fork: Partners or Not? “A committee of 1, gets things done.”
  17. 17. Pro’s and Cons of Partners
  18. 18. Who is the perfect partner? “When two men agree on everything in business, one is usually unnecessary.”
  19. 19. Take away: Most Important Piece of Paper to Sign With Your Partner?
  20. 20. Next Fork: Your Money or OPM (other people’s money)?
  21. 21. Pros and cons of your money vs. OPM
  22. 22. Sources of OPM But wait! Another Fork: Debt or Equity?
  23. 23. Pros and Cons of Debt
  24. 24. Pros and Cons of Equity
  25. 25. How do you decide? cash/expertise/personality (yours and theirs) /confidence/motivation/
  26. 26. Common Mistakes Made in Start ups/New Business
  27. 27. 1) No answers to our previous questions
  28. 28. 2) No answers to the 4 marketing questions: Who is the client? What is his/her problem? What is our solution? Why is our solution better?
  29. 29. 3) No plan. “Plan your work, and work your plan”
  30. 30. 4) No core What Business are we in?
  31. 31. 5) No support 4 areas of support health household money maker
  32. 32. 6) Forgetting the motto “Business is not about taking risks. It’s about minimizing risks.”
  33. 33. 7) No tornado My Personal KSF
  34. 34. 8) #1 mistake Product focussed. Not market focussed. “Cherchez le creneau.”
  35. 35. 9) #2 mistake No strategy.
  36. 36. 10) No accountability “You have to serve somebody.”
  37. 37. Resources Free: http://lemonadestand.podomatic.com Paid: Booklet: Lessons from the Road; Start up tips 1-2-3 https://www.smashwords.com/books/view/29744 White Paper: 50 Ways to Get Ahead in Your Business https://www.smashwords.com/books/view/368229 Radio Show (.99/episode): http://lemonaderadio.com Workbook: Without A Strategy https://www.smashwords.com/books/view/238109 www.partnersinternational.com

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