Starting a business involves planning, execution and making many key decisions. But how do you keep track of all the moving parts? Join us for an simple guide to starting your own business, 15 steps to go from idea stage to fully a operational company - including a streamlined way to write the business plan.

1. GOING FROM IDEA
TO OPERATIONS
An Entrepreneur's Journey

2. ENJOY THE RIDE
Presentation slides (links, videos, etc.)
will be available after the talk

3. WHAT WE’RE TALKING ABOUT
● I have a business idea
● How do I turn it into a successful
company?

4. WHY THIS IS IMPORTANT
● Many different methodologies
● Each focuses on single piece of puzzle
● Need big picture view to guide decisions

5. HOW WE’RE GOING TO DO IT
● Don’t reinvent the wheel (no new
methodologies)
● Aggregate existing best practices
● “Framework is a real or conceptual
structure intended to serve as a support
or guide for the building of something that
expands the structure into something
useful.” (whatis.techtarget.com/definition/framework)

6. OUR DESTINATION
● Commercialized product or service
● Complete & accurate Business Plan
● Fully vetted business model
● Fully operational company
Interupt me anytime for questions & comments

7. WHERE ARE THE STICKING POINTS?
● Making the commitment
● Where do I start?
● How do I make the time?
● How do I structure it?
● How do I get funding?
● How do I promote it?
● Who would buy it?

8. OUR JOURNEY

9. CONTEXT
Lean Startup
Methodology

10. WE'RE GOING TO FOCUS ON...
● List of of "things to keep in mind"
● Keeping it simple
● Breaking down hurdles
● The big picture

11. WHAT IT CAN DO FOR YOU
● Minimize overwhelm & headaches
● Easy-to-manage chunks
● A starting point for each chunk
● Bridge gaps to continue momentum
● Prevent duplicate effort (each block builds
on previous ones)
● Save time & money
● Faster to market

12. WHAT IT CAN'T DO
● Replace existing paradigms or
methodologies (it simply aggregates them)
● Provide a detailed process
● Be a one-size-fits-all
● The work

13. RECORD
Leave a Trail of Breadcrumbs

14. KEEP A BUSINESS JOURNAL (!)

15. GOAL: JOURNAL PACKAGE
● One entry for each work day
● What did you learn today?
● What did you accomplish today?
● How will you build on accomplishments?
● Review it frequently
● Can be written or video (YouTube private)

16. STAGE 1: IDEATE
Lay the Foundation

17. GET YOUR DUCKS IN A ROW

18. GOAL: PEACE OF MIND
● How long will it take?
● Create a startup budget
● Create a startup goal (number or event)
● Can you pay for startup expenses?
● Household bills covered during startup?
● What is your "Why"? (motivator)

19. WRITE DOWN YOUR BEST GUESSES

20. GOAL: LIST OF HYPOTHESES
● The business model canvas (blogs.hbr.
org/2013/05/a-better-way-to-think-about-yo)

21. SNAPSHOT YOUR IDEA
● What is your product?
● Who are your customers?
● How will you deliver the product?
● How will you connect with customers?
● How will you generate revenue?
● What important resources do you need?
● What partnerships do you need?
● What are the critical delivery activities?
● What are the costs?

22. FIND YOUR ACCOMPLICES

23. GOAL: TEAM PACKAGE
● Document co-founder roles
● Is your family on the same page?
● List potential Board of Directors
● Who will be on your Advisory Board?
● Administrative service providers?
(accountant, etc.)

24. STAGE 2: DISCOVER
Find a Product-Market Fit

25. PROVE OR DISPROVE YOUR GUESSES

26. GOAL: PROFITABLE BUSINESS MODEL
● Nail down your business model canvas
● udacity.com/course/ep245
● Can start here

27. WARNING: DON'T GET BURIED
Gist:
● Be a "student" not a "salesman"
● Searching for what {you don't know}2
● Ask "live" customers (100+)
● Validate you are solving their problem
● Demonstrate they will pay you
● Ensure market is large enough*
● Keep it simple...

28. via: FundersAndFounders.com

29. STAGE 3: UNDERPIN
Define the Company's Core Functions

30. THE WAY YOU DO THINGS

31. GOAL: CULTURE PLAN
● Do you want to instill a specific culture?
● How will you empower employees?
● How will you train employees?
● How will you develop leaders?
● Will you encourage "20% time" projects?
● Internal culture aligned w/ external brand?
● ZapposInsights.com

32. WHY CUSTOMERS GIVE YOU MONEY

33. GOAL: PRODUCT ROADMAP
● Expand on Validation results
● Is your product fully documented?
● How will your product improve over time?
● How will you innovate?
● Will you offer additional products?
● Are there complementary partners?
● Can you create "packaged offerings"?

34. UNDERSTAND YOUR BUYER(S)

35. ● Create customer personas
● blog.hubspot.com/blog/tabid/6307/bid/33491/Everything-Marketers-
Need-to-Research-Create-Detailed-Buyer-Personas-Template.aspx
GOAL: CUSTOMER EMPATHY

36. CLOSE SALES, DELIVER THE GOODS

37. GOAL: SALES & DELIVERY PLAN
● Expand on Validation results
● Do you need a dedicated sales team?
● Do you need a dedicated support team?
● In-house staff or outsourced?
● How will you process sales?
● What payment methods will you support?
● What are your payment terms?
● How is the product delivered?
● How will after-sale support be provided?

38. BUILD YOUR (FORTIFIED) CASTLE

39. GOAL: ENTITY & ASSET PLAN
● Benefit corporation?
○ en.wikipedia.org/wiki/Benefit_corporation
● Or will you use an LLC, S-Corp, C-Corp, etc?
○ http://goo.gl/lqrR1 (AzCommerce.com)
● Do you have an asset protection plan?
○ Lodmell.com
● Filing a trademark, copyright or patent?
○ http://goo.gl/S2qGx (Uspto.gov)
● Are you aware of all tax regulations?
○ http://goo.gl/JzruD (AzCommerce.com)

40. STAGE 4: ASSEMBLE
Put the Puzzle Together

41. GET, KEEP & GROW CUSTOMERS

42. Score.org
SteveBlank.com
Expand on Validation results
GOAL: MARKETING PLAN

43. HIRE & FIRE

44. GOAL: PERSONNEL PLAN
● What are the job descriptions?
● How will you attract candidates?
● How will you qualify candidates?
● What will you ask during interviews?
● Do you have specific personality needs?
● Certification or degree requirements?
● ZapposInsights.com

45. BENEFIT THE COMMUNITY

46. GOAL: CONTRIBUTION PLAN
● Do you want to give back?
● How will you engage in your community?
● Financial donations?
● Community service?
● Who will you donate to?
● Sale-based contributions?
○ e.g. Toms.com
● Staff-wide or corporate level only?

47. WORKING ENVIRONMENT

48. GOAL: WORKSPACE PLAN
● Do you need manufacturing facilities?
● Where will the workspaces be?
● Easy access to needed resources & staff?
● Do you want a specific "feel" in the office?
● Will you support telecommuting?
● Will you require specific "in office" hours?
● Will you buy or lease the office? furniture?
● How will you stock office supplies?

49. STAGE 5: SCALE
Drop the Hammer

50. GET OUT OF THE WAY

51. GOAL: BUSINESS PLAN
● Roll it all into the coveted Business Plan
● Create an operational org. chart
● Hire a CEO or go Owner/Operator?
● Hand over the Business Journal Package
● You've built an effective business system
● Let the system do its thing
● Enjoy the ride!

52. RECAP

53. One Final Ingredient...

54. Action
"Do today what others are unwilling to do,
and you'll get the things others can't have
tomorrow."
~Jordan Belfort

55. TO BE CONTINUED...
http://10xnation.co