The document provides guidance for those considering becoming entrepreneurs. It outlines common traits of successful entrepreneurs such as determination, risk-taking, embracing uncertainty, and disliking working for others. It emphasizes the importance of planning, including developing a business plan and customer framework model. The customer framework model outlines key aspects of a business like value proposition, customer segments, channels, and revenue streams. The document also discusses obtaining funding from traditional sources like banks and venture capitalists as well as non-traditional sources. Mentors are recommended to help identify blind spots. In conclusion, it is advised to confirm the business idea is viable and start building business experience and financial resources.

1. Going Out on Your
Own: Is “IT” in You
Presented by:
Ethan Chazin
President & Founder
The Chazin Group, LLC

2. ALL
Entrepreneurs
Share Common
Traits

3. Do You Have What it Takes
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Take an assessment
Dogged Determination
Risk Takers/Embrace Chaos & the Unknown
Thrive in Uncertainty
Dare to Change the world
Love Setting Deadlines
Hate Working For others
Love Solving problems
Ask LOTS of questions
Self-awareness
Lifelong learners
Is ALL this in YOU???

4. Business
planning is
critical

5. Planning is critical
• Speak to as many entrepreneurs as you
can to pick their brain (lessons learned)
• Research, research, research.
• Build a customer framework model.
• Develop a business plan.
• Starting Saving NOW!

6. Customer Framework Model
• Value proposition: the product/service, its
features/benefits or uniqueness versus the
competition; size of the market opportunity;
and minimum viable product that best
illustrates the product as quickly as possible
to elicit customer feedback early.
• Customer segments: who your customer
is and what problems the product solves.
• Channels: how you’ll distribute/sell your
product.
• Customer Relationships: how you’ll create
demand for your product/service.

7. Customer Framework Model
• Cost Structure: the fixed and variable
costs required to operate your business.
• Key Activities: the tasks the company
must perform to succeed.
• Key Resources: suppliers, commodities, or
other essential elements of the business.
• Key Partners: other enterprises essential
to success of the business.
• Revenue Streams: revenue and profit
sources and size.

8. Obtain Funding

9. Traditional & Non-Traditional
• Traditional:
– Banks
– Venture Capitalists, Angel investors
• Non-traditional
– Micro-lenders
• Most funding for start-ups come from the
entrepreneur, friends & family

10. What’s required of you
• All lenders require the following 6 “C”s:
1. Character: credit report, references, work experience.
2. Capital: personal investment into the business.
3. Capacity: cash flow, business plan, commitment.
4. Collateral: pledge of property or assets to bank in
case of default.
5. Cosigner: person who signs the loan contract with the
borrower.
6. Conditions: sector of business, competitive
landscape, growth and attractiveness of industry.

11. Mentors/coaches
Needed

12. Mentors Needed
• We all have blind spots
• You can’t be an expert in everything but
need to oversee all the functions of your
business
• Resources exist everywhere!
– Score, SBA, private
coaches, incubators, business/merchant
associations, faculty, fellow students

13. In Summary…
• It’s NOT for everybody.
• You’ll NEVER work harder in your
life.
• It beats working for others.
• Confirm your business idea can be
commercialized.
• Have great credit.
• Start building a war chest.
• Pursue partnerships.

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