1. YB Consulting
919.627.7742
www.ybconsulting.net
Using Your Talent & Abilities to
Create A New Life
EXPLOIT YOUR PASSION
YB Consulting
919.627.7742 www.ybconsulting.net

2. Agenda




Entrepreneurship - Why?
Benefits & Rewards
Risks & Mitigation
Basic steps for start-up






Your Passion (Business Ideas)
Financing
Things to Ponder
Call to Action
Resources
Next Steps
YB Consulting
919.627.7742
www.ybconsulting.net

3. Entrepreneurship - Why?







Flexibility
Currently possess necessary skills
Changing economy
Income potential
Why not work hard for yourself?
Create a legacy
Only live once
YB Consulting
919.627.7742
www.ybconsulting.net

4. Benefits & Rewards
Benefits
 Freedom
 Invest in you
 Tax deduction
YB Consulting
919.627.7742
Rewards
 Wealth creation
 Job creation
 Take charge of your
time
 Economic
contribution
www.ybconsulting.net

5. Risks & Mitigation

Choose nonviable business




Financial




Research, research, research
Speak to those already in business
Utilize resources
Have at least 6 months expenses in savings
Second form of income
Keep job until business established
Lost time in corporate


Nurture network and new contacts
Invite respected leaders to advisory board
YB Consulting
919.627.7742
www.ybconsulting.net

6. Basic steps for start-up

Understand your life mission

List your talents, abilities & interests

Research potential businesses & industries

Develop a business plan

Choose

Business structure

Partners (internal and external)

Financing

Advisory Board
YB Consulting
919.627.7742
www.ybconsulting.net

7. Your Passion

Services




Web Development
Independent Contracting
Training
Products




Consulting
Planner
Real Estate
Patents
Wholesale distribution
Retail
Write a Book


Speaking circuit
Become industry expert
YB Consulting
919.627.7742
www.ybconsulting.net

8. Financing

Equity






Savings
Investments from family,
friends
Partnership
Angel investors
Venture Capital
Debt




Loan from family, friends
Revolving debt
Commercial loan
SBA





YB Consulting
919.627.7742
Community Express
7(a)
Pre-qualification
Microloans
Specialized Programs
www.ybconsulting.net

9. Financing Qualifiers





Cash Flow/Capacity
Capital
Collateral
Conditions
Character
 Credit
YB Consulting
919.627.7742
www.ybconsulting.net

10. Things to Ponder



Change to Information/Knowledge Society
Globalization
Value of diversity


Supplier diversity programs
U.S. African-American Entrepreneurship



One of fastest growing segments
NC is eighth in number of African-American businesses
Still only 6% of business ownership
YB Consulting
919.627.7742
www.ybconsulting.net

11. Resources








What Color is Your Parachute? (Richard Bolles)
How to Succeed as an Independent Consultant
(Herman Holtz, David Zahn)
The Startup Company Bible for Entrepreneurs
(Michael Stathis)
101 Best Businesses To Start (The Phillip Lief Group and
Russell Roberts)
Minority Business Development Agency
www.mbda.gov
www.Entrepreneur.com
Fast Company
Black Enterprise
YB Consulting
919.627.7742
www.ybconsulting.net

12. Resources

Business Plan Creation


Financial Planning



IRS
CPA, Lawyer referred by colleagues
Minority Certification




SCORE
SBA – 8(a)
WBENC
Government HUB/MWBE
Courses

Small Business Centers – Durham & Wake Tech
YB Consulting
919.627.7742
www.ybconsulting.net

13. Resources

NC Minority Business Development Center





Business Consultation
Financial Analysis
Loan Packaging
Procurement Assistance
Small Business Technology Development
Center




Management Counseling & Education
Export Financing
Marine Trades
Technology Commercialization
YB Consulting
919.627.7742
www.ybconsulting.net

14. Next Steps






Consider information presented
Seek out resources
Ask questions
Take your time, but…
Just do it!
Contact us
YB Consulting
919.627.7742
www.ybconsulting.net

15. Contact Info
Yolanda Brown
YB Consulting
Web: www.ybconsulting.net
Phone: 919.627.7742
Email: ybconsulting@gmail.com
YB Consulting
919.627.7742
www.ybconsulting.net