The document outlines essential steps for starting a business, including formulating an effective mission statement, conducting thorough market research, and writing a comprehensive business plan. It emphasizes the importance of choosing a suitable company structure, securing funding, and building a supportive team to ensure success. Throughout, the document encourages passion and creativity in business endeavors while highlighting resources such as SCORE for mentorship.

1. How to Really Start
your Own Business
EVERYONE HAS A DREAM.
It’s time to follow yours.
Presented by
Julie Brander
Steve Bloom
Moderated by
John Meyer

2. EVERYONE HAS A DREAM.
It’s time to follow yours.
Julie Brander
SCORE Volunteer
Professor of
Entrepreneurship
Steve Bloom
SCORE Volunteer
Entrepreneur & Lecturer
at Emory University

3. 3
Your Idea
Getting it Down on Paper
Effective mission
statement
– Clear message
– Strong mental image
Elevator pitch
– 50 words or less
– Must be memorized---
you never know when
the opportunity may
come up to pitch your
idea!

4. 4
Do the Research
Market
Research
Competitive
Research
Industry
Research
Pricing
Research

5. 5
Write a Business Plan
An Essential Step
Sections
– Executive Summary
– The product or service
– The market and competition
– Marketing/Sales Strategy
– Management and Personnel
– Financial data and Investment
– Supporting documents
Must be
– Formal, professional, well written
– Clear and persuasive
– Long enough to give detail
– Short enough to keep interest

6. 6
Set up your Company
Choose a structure
– Sole proprietorship
– Partnership
– Incorporation
C Status
S Status
– Limited Liability
Corporation (LLC)

7. 7
Set up your Company
Choose a structure
– Sole proprietorship
– Partnership
– Incorporation
C Status
S Status
– Limited Liability
Corporation (LLC)
Personal asset
protection
Additional credibility
Name protection
Perpetual existence
Tax flexibility
Deductible expenses

8. 8
Set up your Company
Choose a structure
– Sole proprietorship
– Partnership
– Incorporation
C Status
S Status
– Limited Liability
Corporation (LLC)
Designate a registered agent
Lock in your location

9. 9
Funding
How much?
Must invest own money
Explore all options
– Personal savings
– Borrow from friends and family
– Credit line
– Second mortgage
– Equipment and other assets
– Inventory

10. 10
Build your Team
Employees, Vendors and Mentors
Assess your strengths and weaknesses, likes, dislikes
– Identify the qualities needed in your employees to
fill gaps in your own abilities
Surround yourself with good people
– Write clear job descriptions
– Plan a budget for each
position
– Consider alternate
forms of compensation
Find mentors and/or
business advisors
Use professionals

11. 11
Evaluate and Adjust
Company must be grown conservatively and carefully
monitored
– Have a handle on the cash flow and expenses
– Know where your profit comes from
– Some customers, products and services are more
profitable than others
Solicit and listen to customer feedback
– Nurture relationships
– Exceed expectations
Employee feedback
– Always invest in your employees

12. Good Luck from Julie
Always remember that the passion and
enthusiasm you have for your business
will create success. Being creative is
essential as all products and services
solve problems. Simplify your business
so that it will always be enjoyable…when
it stops being fun it is time to get out.
www.wickedstart.com

13. Good Luck from Steve
To be successful, you must have
P.H.D.
Passion, Heart and Desire…
if you don’t have it don’t do it.
http://womensblog.score.org

14. About
SCORE
SCORE “Counselors to America’s Small Business” is
America’s premier small biz advice service.
Free & confidential. SCORE mentors can guide you on a
path to success.
SCORE helps create about 25,000 new firms each year
and has assisted nearly 8.5 million clients.
14
1-800-634-0245
http://www.score.org

15. About
The Company Corporation
The Company Corporation has been a provider of online
incorporation services for over 15 years.
Our organization has helped over a half million business
owners get started and offers services nationwide.
Parent company (Corporation Service Company) has
been in business for 110 years.
15
1-866-544-6804
http://www.incorporate.com/score

16. EVERYONE HAS A DREAM.
It’s time to follow yours.
Questions & Answers
To ask a question, please type your
inquiry into the Q&A panel
866-544-6804
www.incorporate.com/score