1.
The 10 Commandments
of Starting A Business
Richard Kligman
October 20th 2009

2.
Disclaimer
Before investing in any
business, seek the advice
of your business advisers &
lawyers. Oh, and don't
forget to ask your spouse!

3.
My Name
Nachum Y. Kligman

4.
My Name
Nurbn Y. Kljmn

5.
Another Quick Story
“H” as in …..

6.
First Question You Need to Ask
Why Do You want
to be in Business?

7.
Are you a Masochist
Just Kidding…. a little

8.
Then Why?
Be Your own Boss?
Make Your Own Hours?
For the Money?
For the Prestige?

9.
Getting Started
Everything
Begins with
an...

10.
IDEA

11.
"Nothing else in
the world... not all
the armies... is so
powerful as an
idea whose time
has come."
Victor Hugo

12.
A Dime a Dozen?
So many people out there are
impressed by ideas alone.
People often forget just how
useless an idea is without the
sweat, courage and brains
needed to execute them

13.
But What is a Good Idea?
Ok, I'm willing to
make the sacrifice,
but what is a Good
Idea?

14.
The Best ideas?
Find a Need
and Fill It

15.
What Are You Creating?
Need vs. Want

16.
NEED
A need is something you have to have,
something you can't do without. A good
example is food. If you don't eat, you
won't survive for long. Many people have
gone days without eating, but they
eventually ate a lot of food. You might
not need a whole lot of food, but you do
need to eat.

17.
WANT
A want is something you would like to
have. It is not absolutely necessary, but
it would be a good thing to have. A
good example is music. Now, some
people might argue that music is a
need because they think they can't do
without it. But you don't need music to
survive. You do need to eat.

18.
Are all good product ideas taken?

19.
Are all good product ideas taken?

20.
"You miss
100% of the
shots you
don't take"
Wayne Gretzky

21.
Now that you have the idea
Are You Ready?

22.
The 10 Commandments

23.
The First Commandment
I am The Lord
your G-D

24.
Why Change a Classic?
•Put in the proper effort
•Things out of your control (9/11)
•Be Honest
•Taxes
•Paying On Time
•Pray :)

25.
The Second Commandment
Thou Shall Be
Passionate

26.
“Genius is one per cent
inspiration,
ninety-nine per cent
perspiration”
Thomas A. Edison

27.
• Is it fun?
• What are you willing to
do?
• 40 hour weeks? Try 80!
• Downgrading your
lifestyle?
• Family First?
• Is Passion all you need?

28.
The Third Commandment
Thou Shall
Have Enough
Money

29.
Enough Money
•To Live On
•To Bring your product to market
•To Give yourself enough chance for
success

30.
Raising Money
•Savings?
•Friends & Family
•Credit Cards
•Banks
•VC's

31.
The Fourth Commandment
Thou Shall
Build A Strong
Team

32.
“Take away my people, but
leave my factories, and
soon grass will grow on the
factory floors. Take away
my factories, but leave my
people, and soon we will
have a new and better
factory”
Andrew Carnegie

33.
Teammates
•Co-Founders/Executives
•Employees
•Vendors
•Investors
•Advisory Board
•Family?

34.
Taking in Co-Founders
Pros Cons
• Two Heads are • Share Equity
better than 1 • Share Decisions
• Share Risk • Possible Fallouts
• Larger Network • If more than two,
• Get More Done you can lose control

35.
The Fifth Commandment
Thou Shall
Worship the
Purple Cow

36.
What is the purple cow?
It’s a book by Seth Godin.
And it is something that is
so remarkable that you
don’t need marketing. It will
spread by word of mouth.

37.
Seth Godin

38.
Examples
Halfway, Oregon

39.
Examples
Two things are guaranteed at the remarkable DinTaiFung restaurant in Taipei: the
extremely long line outside and the size/weight of their world famous steamed juicy pork
dumplings. Each dumpling uses only the freshest ingredients, weighs a precise 0.74 oz, and
has exactly 18 folds. In 1993, NY Times named DinTaiFung as one of the top 10 restaurants
in the world. Even with many outlets worldwide today, thousands of tourists still visit
Taipei every year just to eat at its original location.
One of the stories told about the restaurant owner is that he takes the tour buses to hear
what people say about his restaurant. One day, he found that bus stopped before reaching
its destination and tourists were encouraged to use the restrooms so that they can avoid
using the ones at his restaurant. He went back and installed the most advanced toilets
available in the restrooms and made sure that they were cleaned every 15 minutes. Since
then, the restrooms at DinTaiFung also became one of the most talked about topics for
tourists.

40.
What if you made things more Fun?
http://www.rolighetsteorin.se/en/

41.
Time for A Break
Can someone
please make me a
coffee? Milk with
2 sugars please.
Thanks!!!

42.
The Sixth Commandment
Thou Shall
Love Thy
Employees

43.
“Do Lipton
employees take
coffee breaks?”
Stephen Wright

44.
Loving Thy Employees
• Treat them how they • Make them always
want to be treated feel appreciated
• Give them training • Make them feel part
and the tools they of the company
need to succeed (Shares)
• Let them know • Make it fun
clearly what is • Ask for Input
expected of them

45.
The Seventh Commandment
Thou Shall Have
A High
Perceived Value

46.
Definition
Customer's opinion of a product's
value to him or her. It may have little
or nothing to do with the product's
market price, and depends on the
product's ability to satisfy his or her
needs or requirements.

47.
People Are Willing To Pay
For the
Experience

48.
Which one costs more?

49.
Which one costs more to make?

50.
How to Increase Your Perceived Value
• Professional Logo • Testimonials
• Professional • Speaking
Website Engagements
• Business Email • Writing Articles
Address • Dress for Success
• Phone Answering • Sell for Higher Price
Service or System • Endorsements
• Big Name Clients

51.
The Eighth Commandment
Thou Shall
Network

52.
Use Your Network For
• Finding Partners • Finding Fans
• Finding Investors • Personal Branding
• Getting • Help Others
Feedback • Business
Development
• Finding Clients
• Keeping In Touch
• Marketing

53.
Social Networking

54.
Blogging

55.
Social Marketing

56.
Other Networks
• Clubs
• Religious
Organizations
• Meet Up Groups
• Alumni
• Friends/Family

57.
The Ninth Commandment
Thou Shall
Love Thy
Customer

58.
Love Thy Customer
• Follow Up After • Be open and
Sale accessible
• Send Personal • Do what you say
Cards (Hours of
• Do More than you Operation,
say getting back in
• Involve them in 24 hours)
decisions

59.
The Tenth Commandment
Thou Shall
Always Be
Learning

60.
From Day One - Research
• The perfect • Potential Clients
name • Potential
• Experts in your Investors
market
• Market Research
• Test, Test, Test

61.
Failure Is An Option
Unless you fail to learn

62.
Always be Learning
•Books
•Trade Magazines
•Trade Shows
•Online Forums &
Networks
•Blogs
•Actual Classes

63.
Magazines

64.
Books

65.
Blogs to Follow
www.techcrunch.com
www.mashable.com
www.chrisbrogan.com
www.fourhourworkweek.com/blog
www.webdesignerdepot.com
www.briansolis.com
www.socialmediatoday.com/SMC

66.
Sites To Visit
www.ted.com
www.techcrunch50.com
www.inc.com
www.entrepreneur.com
www.fastcompany.com
www.vator.tv
www.demo.com

67.
The 10 Commandments
• I am the Lord your G-d • Thou Shall Love thy
• Thou Shall Be Employees
Passionate • Thou Shall Have a High
• Thou Shall have Perceived Value
enough money • Thou Shall Network
• Thou Shall build a • Thou Shall Love thy
strong team Customer
• Thou Shall worship the • Thou Shall Always be
purple cow learning

68.
Thank You
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