The document provides an overview of the key steps involved in starting a business, including developing a business plan, determining a legal structure, obtaining financing, creating a marketing strategy, and how BizCentral USA can help entrepreneurs with various services at each stage of starting and running a business.

1. Partner Service & Sales Training

2. I. Introduction to Starting a Business
II. Getting Started
III. Legal Formation
IV. Business Financing
V. Creating a Marketing Plan
VI. How BizCentral USA Aides Entrepreneurs in
Starting a Business
VII. Review

3. • Each year, millions of people
identify a business
opportunity. They then try to
translate that opportunity
into a profitable business.
• Small firms represent 99.7% of
all employer firms.
• Small businesses create more
jobs annually than large
businesses do.

4. • Desire for responsibility • Tolerance for uncertainty
• Confidence in their • Ability to be flexible
ability to succeed • Desire to work hard
• High energy level • Total dedication to the
• Need to accomplish business
goals • Strong market demand
• Strong organizational for their product or
skills services
• High degree of • Luck
commitment

5. • Taxes: There is an amazing array of goodies in the tax
code to help small business owners.
• Enjoyment: A business allows you to get paid for doing
something that you truly enjoy.
• Independence and flexibility: More freedom and
independence working for yourself. Once the business is
firmly established, there is flexibility to make sure you
don't miss the events that matter most.
• Money: The risks of forgoing a steady paycheck can pay
off when you own your own business. You can get rich in
a small business, or at least do very well financially.

6. I. Introduction to Starting a Business
II. Getting Started
III. Legal Formation
IV. Business Financing
V. Creating a Marketing Plan
VI. How BizCentral USA Aides Entrepreneurs in
Starting a Business
VII. Review

7. • Learn as much as possible
about the proposed business
• Ask questions
• Join industry associations
• Research the target market
and assess the needs
• Study successful competitors
carefully

8. • Every business begins with an idea. A business plan
is necessary to guide the investigation and develop
this idea.
• A business plan will consider all parts of the business
in detail:
• The Industry
• Competition
• Target Market
• Risks & Success Potential
• Financials

9. • Location is important to the success of any
business and should be determined early in the
planning process.
• Consider location in regard to:
• Customers
• Suppliers
• Employees
• Government regulations.
• The selected site should meet
the business’ needs.

10. • Various types of licenses are required in
order to conduct business:
• Local: Business licenses are issued by cities to
businesses located within the city limits and for
businesses conducting business within the city
limits.
• State: Businesses may need to be registered with
the state tax authority.
• Federal: Business must have a federal
identification number (federal tax number).

11. • There may be other licenses that affect
particular businesses:
• Occupational Safety & Health Administration
• Health Department
• Alcoholic Beverage Control
• Department of Agriculture
• Always check with the industry associations
to determine if other licenses apply to the
business.

12. • Before opening, the business owner should consult
with an insurance agent to develop a
comprehensive insurance plan.
• A basic package may include the following types
of protection:
• Fire • Automobile
• Liability • Employee Health
• Crime • Product Liability
• Workers Comp • Key Person
• Business Interruption

13. • Financial records are an extremely important tool
for managing the inflows and outflows of a
business’ activity.
• The basic format includes:
• Accounts Receivable Journal
• Cash Payments Journal
• Accounts Payable Journal
• Cash Receipts Journal
• General Journal
• Sales Journal
• The standard financial statements include:
• Balance Sheet
• Income Statement
• Statement of Owner’s Equity
• Statement of Cash Flows

14. I. Introduction to Starting a Business
II. Getting Started
III. Legal Formation
IV. Business Financing
V. Creating a Marketing Plan
VI. How BizCentral USA Aides
Entrepreneurs in Starting a Business
VII. Review

15. • There’s no universally “right” structure for all
businesses.
• The decision for the legal form of business will be
made to best suit the business owner’s needs,
personal management style, and financing
requirements.
• Evaluate the advantages and disadvantages of
each business formation, paying special attention
to the tax implications and government
formalities.

16. • For starters, it’s important to take the time to review
the business plan. What should emerge are answers
to questions like:
• Do you want investors as
shareholders in your
company?
• Do you want to maintain
control of the company if you
have investors involved?
• Do you want to avoid double
taxation?
• Is there a great risk of liability
associated with your specific
business?

17. • 4 forms of business ownership:
– Sole Proprietorships: limited to a single owner who has
total control of, and responsibility for the business.
– Partnerships: an association of two or more persons
acting as co-owners of the business.
– Corporations: a separate legal entity that is formed by
filing Articles of Incorporation with the Secretary of State.
– Limited Liability Companies: a hybrid form of
organization that combines features of both a
partnership and a corporation.
– S-Corp: a special form of a corporation where the
business is incorporated as a regular (or “C”)
corporation, but asks for special permission from the IRS
to be taxed as a partnership.

18. Sole Proprietorship Partnership Corporation
• Easy to Organize • Combined • Limited Liability
• Owner is Funding & Talents for Managers and
Personally Liable with Partner Stockholders
• Minimum Legal • Flexibility in Profit • Ownership is
Restrictions & Loss Sharing Transferable
• Business • Individual • Costly &
Terminates with partners act as Complicated to
Owner agents for the Establish
partnership • Double Taxation
for Regular
Corporations

19. Limited Liability
S-Corporation
Corporation (LLC)
• Does Not Pay • Not personally liable
Income Tax for business debts,
• Extensive Record such as court
Keeping judgments or legal
• “S” corporation settlements
income or loss is obtained against the
passed through to business.
stockholders and • A few states impose
taxed at the very high taxes on
individual level LLCs
• Flexible Management

20. I. Introduction to Starting a Business
II. Getting Started
III. Legal Formation
IV. Business Financing
V. Creating a Marketing Plan
VI. How BizCentral USA Aides Entrepreneurs in Starting a
Business
VII. Review

21. • Finding the right kind of funding for a business is a
critical step.
• Business owners should be selective and smart
when seeking money for a startup business.
• To identify which form of
financing is just right, think
about long-term personal
and business goals.

22. • Seven ways to fund your business:
• Bootstrapping: Funding the business yourself: using your
savings, your initial revenues, credit cards, equity pulled
from your home, etc.
• Debt Financing: Requires that you qualify for a
traditional bank loan or that you find a bank that can
provide you a loan with an SBA guarantee.
• Friends and Family: Just like it sounds, raise money from
people you know well, either in exchange for equity or
as a loan to be repaid.
Continued…

23. • Seven ways to fund your business:
• Grants: Special programs designed to fuel the innovative
fires of small businesses, and typically target specific
groups or types of businesses, such as: technology
businesses, veteran-owned businesses, women-owned
businesses and minority-owned businesses. These are rare
for for-profit ventures.
• Angel Investors: Individuals who invest in companies at
an early stage in exchange for equity and the chance to
help guide the company.
Continued…

24. • Seven ways to fund your business:
• Factoring: A financial institution (factor) advances the
entrepreneur money against proceeds from the
entrepreneur's outstanding accounts receivables.
• Venture Capitalists: Individuals or companies with large
amounts of capital to invest; expect higher returns.
They invest as a profession and generally on behalf of
other investors.

25. I. Introduction to Starting a Business
II. Getting Started
III. Legal Formation
IV. Business Financing
V. Creating a Marketing Plan
VI. How BizCentral USA Aides Entrepreneurs in Starting a
Business
VII. Review

26. • Most small business owners
view promotion and
advertising as a “luxury” that
they cannot afford.
• Unfortunately, this usually
results in ineffective promotion
and poor results.
• Marketing is key in discovering
the needs from consumers
and how the business will
answer those needs.

27. • The 4 P’s: Product,
Product Promotion, Place &
Price, are factors
that a business can
control.
Price
Consumer Promotion
Needs • The goal is to base
decisions on the 4
P’s around the
consumers in the
Place
target market.

28. • The best approach for a startup business is an
integrated marketing strategy. This will combine
multiple marketing and communication strategies
based on the primary goals of the business and the
needs of consumers.
• Some of the various types of marketing strategies
include:
• Grassroots Marketing • Online Marketing
• Public Relations • Traditional Advertising
• Affiliate Marketing • Social Media
• Email Marketing • Strategic Alliances

29. I. Introduction to Starting a Business
II. Getting Started
III. Legal Formation
IV. Business Financing
V. Creating a Marketing Plan
VI. How BizCentral USA Aides Entrepreneurs in Starting a
Business
VII. Review

30. • Starting a business can be very rewarding but very
complex as well. In addition to providing your services,
you must also hire, train & manage employees,
maintain compliance with local government
regulations and taxes, understand your competition
and position your company to grow.
• BizCentral USA offers an array of services, tools and
resources to accelerate the startup process, enabling
entrepreneurs to spend less time on the paperwork
and more time making money and growing their
business!

31. • BizCentral USA offers a service for every step of the
startup process:
• Business Plan Development
• Business Certifications
• Incorporation
• Graphic Design
• Website Development
• Marketing
• Accounting & Bookkeeping
• And Much More

32. • We provide entrepreneurs with Articles, How To’s
and Tips to help them start a business.
• How to Obtain Free Publicity for your New Business
• How to have Thousands of Reps Marketing your Product
• Marketing with Trade Associations
• Tips on Raising Money for your Startup Business
• Attracting Investors or Venture Capitalist
• 9 Ways to Succeed at Growing Your Business on the
Internet
• Secrets to Successfully Starting your Business
• Drive Traffic To Your Website to Grow a New Business
• And Much More

33. • We provide access to Web Tools, Checklists and
Reports to help with startup plans.
• Free Startup Checklist
• Free Business Counseling
• Free Assessment Tool
• Free Small Business Planner
• Free Startup Expense Tool
• Free Online Courses
• Free Research Tools

34. I. Introduction to Starting a Business
II. Getting Started
III. Legal Formation
IV. Business Financing
V. Creating a Marketing Plan
VI. How BizCentral USA Aides Entrepreneurs in Starting a
Business
VII. Review & Closing

35. • Owning a business is the dream of many Americans.
Managing one’s own business can be a personally
and financially rewarding experience.
• In the serious process of starting a business, there
are certain questions that must be asked and
answered, research that must be conducted and
finances that must be sought before certain steps
can be taken.