Young Professionals Forum.Cz Creative Coffee Club Agenda And Minutes Dec 1st
Moderated by Ivan Vlasyuk,
Freelance Project Manager
Agenda: CCC meeting 1st Dec, Tuesday, 19-20:00
Topic: How to start up your own business
Location: Starbucks, WENCESLAS SQUARE, 2nd floor
Agenda (item - owner - time - outcome):
● Round table introductions - Ivan - 10min - team formed
● 1st round table question - What experience do you have with establishing your own business? - team - 10min -
● 2nd round table question - How do you get financing for your own business? - team - 10min - knowledge formed
● 3rd round table question - How do you perform "smart marketing" for your own business? - team - 10min - knowledge
● Open discussion - some conversation starters questions - 10min:
- How do you find/define your area of business/product?
- How do you get financing (venture capital, bank credit)?
- How do you find business partners?
- What is the cost to establish own company in Czech Republic?
- What is best legal form - zivnostenskij list/ s.r.o. / a.s. ?
- How long it takes to incorporate?
- Office space - do you need one? what are good options?
- HR - where and how do you look for and hire best talents?
- Who can help with writing business plan?
- Marketing - how much to spend on initial marketing? how to market with minimal budget? Smart marketing - facebook,
- How to manage own fear of starting own business?
- How to develop vision for own business?
● Generating questions to Leaders' Dialogue - 5 min
● Agree on next topic - ... ? - 5 min
Tue, 1 Dec, 2009 Prague, Czech Republic 2
Minutes taken, slide 1
● for services the need of the capital is smaller (compared to production)
● computer/internet helps to market small business - Facebook, Twitter, LinkedIN.
● to get financing from the bank - need a business plan
● list of targets, for smaller business list coult fit on A4 page
● need to show your experience
● biz plan is not a prerequisite to start own biz
● start, survive 1st year, then start planning based on experience.
● better to start with less money and grow, then having risk of starting big on borrowed money and then burn them out
● money at the beginning could come from parents, friends, not necessarily bank
● for start still need some capital - recommended at least 10 months cash reserve.
● it takes up to 2 years to get your business established/self-sufficient and functioning
● it takes 2 years to build a customer base
● set your budget for 2 years. consider stretching it 15% more
● if business did not start up , then could always return being employee
Tue, 1 Dec, 2009 Prague, Czech Republic 3
Minutes taken, slide 2
● when starting (moving from existing company and starting your own in same field) is good to take 1-3 clients with you
● need to know you minimal monthly budget
● branding is important. branding helps
● for example when coffice.cz was organized - the financial calculation was done
● good to develop vision
● financial independence
● do what you like
● be uique
● good to start with simple idea
● can start your enterprising activity (for example photography) as side-job then once you realize you still like it and it
brings clients - then you can really move into it full-time
● legal own business can start also as move from current work as employee at legal office and taking 1-3 clients with
● find right people to work with
● disadvantages of own business - never know what a future would bring
● future topics could be - How to Start Your Own Business, focus on - how to market, how to organize, how to grow it
Tue, 1 Dec, 2009 Prague, Czech Republic 4
Name: Young Professionals Forum
Category: Organizations - Community Organizations
Description: The Young Professionals Forum is devoted to providing young professionals with the skills, contacts, and
opportunities to help them succeed and become active members of the business community.
Privacy Type: Open: All content is public
Freelance Project Manager
Tue, 1 Dec, 2009 Prague, Czech Republic 5