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Entr Intro Workshop

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Mini version of Introduction to Entrepreneurship Workshop

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Entr Intro Workshop

  1. 1. How do I become an entrepreneur? Starting the journey to business ownership www.karensouthallwatts.com
  2. 2. Why do we start businesses? <ul><li>Be my own boss, independence, flexible hours </li></ul><ul><li>Making the money from my ideas and efforts—not lining the pockets of others </li></ul><ul><li>Layoff, downsizing, firing—last chance </li></ul><ul><li>Retirement is not enough </li></ul>
  3. 3. How do I define success? <ul><li>Success is a subjective term… </li></ul><ul><li>Are you looking to just make “extra” money? </li></ul><ul><li>Do you have dreams of wealth? </li></ul><ul><li>Is work/home life balance the most important thing in your life? </li></ul>
  4. 4. My typical customer
  5. 5. My customers… <ul><li>Where do they live, work, shop? </li></ul><ul><li>What’s their cultural identity? </li></ul><ul><li>Do they have unmet needs? </li></ul><ul><li>How about hot button issues… </li></ul>
  6. 6. Financial Check-up <ul><li>Credit Report </li></ul><ul><li>Personal Records </li></ul><ul><li>Start-up amount </li></ul><ul><li>Cost to produce one unit or </li></ul><ul><li>Market value for my time </li></ul><ul><li>Debts and Assets </li></ul>
  7. 7. Quick view financial exercise <ul><li>Stuff I own—assets </li></ul><ul><li>Stuff I owe—debts </li></ul>Paid for cars, real estate Loans, mortgaged items
  8. 8. Do I need a business plan? <ul><li>Seeking funds from a lender or investor </li></ul><ul><li>Plans for start-up, marketing and daily operations </li></ul><ul><li>Evaluating your competition and target market </li></ul><ul><li>Measuring success </li></ul>
  9. 9. What do I do next? <ul><li>Check out the resources in your community; SBC, SCORE, Chamber </li></ul><ul><li>Invest in your personal growth library </li></ul><ul><li>Seek a mentor, coach or other support </li></ul>

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