Presentation to church in South Africa

1. JULY 17TH 2010

2. Agenda
About Me
Finding Your Passion
Deciding on an Idea
The Business Plan
Putting it into Action

4. Slogan I Live By
From the historically Black
University Clark Atlanta University
‘FIND A WAY OR MAKE ONE’

5. Introducing: Corey Holmes
• Entrepreneur: owned a franchise and an e-commerce
business
• Educational background in business, accounting, and
international business
• Current role: Consultant to the CEO of the Randburg
Chamber of Commerce & Industry
• South African Trade Delegate
• Writer for the Randburg Sun
• Personal goal: ‘to develop leaders to change the
culture in underdeveloped societies

7. Why am I here?
 For I know the plans I have for you," declares the LORD,
"plans to prosper you and not to harm you, plans to
give you hope and a future. Jeremiah 29:11
 God has a plan for you, knows your purpose (before
you were born)
 You have to tap into what that plan/ purpose is
 God’s plan/ purpose is your passion
 It’s what you were designed to do
 Everyone has a different and unique role to play

8. Finding Your Passion
 What keeps you up at night? What problem would you like
to solve?
 Where would you like to be a year from now? What would
you love to be doing?
 Ask your friends/ families what your strengths/ natural
skills to be?
 As a child, what types of things did you enjoy?
 Invest a little time in some daily journaling.
 Example: Desire to start a nonprofit focused on uplifting
disadvantaged communities around the world

10. Passion to Idea
 Once you’ve determined your passion and purpose,
turn it into an idea
 Everyone has an idea and while they are the start to
any endeavor they must be clear concise and well
thought out.
 Example: After starting HIF, the first initiative came
because of a personal community service project.

11. Testing your idea
 Make Time
 Write about your ideas. What comes easy? What kinds of
skills do you need?
 Meet, research, read about others who have similar stories/
passions.
 Offer ‘free’ or discounted services
 Pick one thing to be GREAT at…
 NO FEAR
 Example: It took one month to develop a proposal for HIF.
Sent it out to get feedback. It helped to fuel the next steps
of developing the actual business plan.

13. What is an Entrepreneur?
 An entrepreneur is a person who has possession of a
new enterprise, venture or idea, and assumes accountability for
the inherent risks and the outcome. He or she is an ambitious
leader who often combines land, labor, and capital to often
create and market new goods or services.
 3 things every entrepreneur must do
 Envision – Execute - Receive feedback from consumer/client
 3 resources every entrepreneur must have
 Attorney – Accountant – Insurance
 It is important to align with a mentor or someone in your sector
or field who has more knowledge than you do

14. Part One – The Setting
 Executive Summary
 Synopsis of the entire plan usually one page
 Someone should be able to understand the plan just by reading this
 Write LAST
 Company Description
 Where/ When/ Why founded, registered, start-up plans
 What are your strengths, weaknesses, opportunities, threats?
 Target market niche, and provide proof i.e. awards, certifications, or
verifications
 Product/Service
 What are you selling (what problem are you solving) and how it
benefits the customer
 4 p’s (product, placement, price, and promotion)

15. Part Two – How to Operate
 Organization & Management
 Describe organization, how many personnel, key
management, and their responsibilities
 Provide an Organization chart
 Operations
 How are you handling accounting, legal, insurance, and
security

16. Part Three - Marketing
 Marketing
 Market Analysis - Target market, competition, and how to price, place, and promote, the
product, trends, research
 Is the industry/market ready for your product? How will growth or decline in the
market affect you?
 Strategy – What methods are you using to get the message out about your business?
 Customer Service
 Performance – Does the Marketing strategy work?
 Annual marketing budget
 Revisit marketing plan monthly to make sure everything aligns
 E-commerce
 (Optional although it is a global e-commerce world) discuss cost, operation, sales, and
marketing strategies of site
 South Africa ‘is’ an open market and many joint ventures and partnerships are facilitated
and communicated through Skype, email, LinkedIn, face book, and 5 linx

17. Financial Planning
 Prepare a simple cash budget quarterly or annually
 Financials- VERY IMPORTANT IF YOU CAN AFFORD IT HIRE AN
ACCOUNTANT/BOOKKEEPER IF NOT HERE IS A SIMPLE CASH
BUDGET
 Beginning cash balance beginning month
 Add - Collections on accounts receivable (money collected from business) and
Cash sales
 Deduct - Accounts payable, expenses, contractual payments on long term debt
 A cash budget is needed for accurate and consistent financial records and
most lending institutions require them to acquire new assets (building or
equipment). The budget tracks where money from the business is coming
in and being spent. The budget allows the owner to see a comparison of
actual cash inflow and outflow of the business. Not preparing is
preparing to fail.

19. Implementation
 Business proposal
 Filing necessary paperwork; 501c3 limited pty., or
corporation papers
 Having a vested board who can contribute and have similar
goals as the organization
 Finding financial resources but not coming to the table
empty such as intellectual capital but preferably startup
capital
 Angel investors, banks, corporate socially responsible
investment programs, and etc.,

20. Value of a Network
 Networks are important to learn new knowledge and
gather new ideas in the industry (Peer support groups,
Chambers of commerce, stokvels and etc.,)
 Its imperative that every South African small business
is BEE verified, makes barriers easier to deal with
 Maybe your product or service is better served in other
African Countries or Eastern regions (China or India).
Do the research
 Randburg Chamber offers a woman’s forum, youth
initiative, Certificates of Origin, access to SACCI
and import export training access