Great tips, resources, best practices and strategies for entrepreneurs, start-ups, professionals and small business owners.to plan launch and grow successful businesses.
5. • Crain’s Daily alert
• Business Management Daily
• Inc.com
• FastCompany.com
• NY Newsday
• NY Times
• WSJ
Start Reading These
6. • Barron’s
• AM NY & Metro
• Hispanic Business
• NY Enterprise Report
• Entrepreneur.com
• Smallbiztechnology.com
Start Reading These
7.
8.
9.
10.
11.
12.
13. • Original Classic: (1700s-1950s) hard worker,
loner, fast learner, socially isolated, risk taker,
seeks wealth
• Idea Person: (1950s-1980s) hard worker,
loner, fast learner, socially isolated, risk taker,
fame seeker
• Small Business Owner: hard worker, loner,
avg., socially isolated, risk averse, avg. income
seeker
SBE Types
14. • Contemporary Classic (1950s-1980s): hard
worker, loner, fast learner, socially isolated,
risk taker, wealth seeker
• Managerial (1980s-today): hard worker, team
player, fast learner, socially connected, risk
averse, wealth seeker
• Sales (1980s-today): hard worker, team player,
fast learner (socially), avg. learner
(technologically)socially connected, acceptance
seeker, risk averse
SBE Types
23. ProfessionalismProfessionalism
– Expert Follow all the industry BEST practices, seek
their client’s trust at all times:
• Subcontractors: big firms require subcontractors to meet hundreds of
• corporate-dictated procedures
• Franchises: corporate parents specify most of the procedures for the
business’s operation
• International certifications (ISO 9000): small businesses must write in
full detail how they will ensure consistency and professionalism
Core Competencies
24. ProfessionalismProfessionalism
– Specialized Owners are passionate about one or a
few of the key business functions:
• Specialized firms tend to generate moderate levels of trust among
customers
– Minimalized Entrepreneur does everything at the
simplest level:
• No systematic accounting
• Personal sales
• Street vendors, swap meets, art fairs
Core Competencies
25. • Habitual: Owners for a lifetime.
• Growth: Lifetime owners with a primary goal
of success.
• Harvest: Owners with an Exit plan.
• Spiral/Helical: Fluctuating personal periods of
growth then stability determined by personal/
family needs.
An Entrepreneur’s Career Paths
26. • More than 50% of all US businesses
• Generate more than half of all US jobs
• Issues surrounding Role ConflictRole Conflict and
Succession PlanningSuccession Planning:
– How you separate family life from your
business activities
– What if the boss gets hit by a bus?
Family Business: It’s Personal
27. • 36% of entrepreneurs reported reductions in
head count last year.
• Only 8% have added jobs.
• 71% do NOT expect to add new jobs this year.
• Nearly two thirds have seen their sales volumes
and profitability decrease.
• 61% think the economy’s on the WRONG track.
Kauffman Foundation survey of entrepreneurs commissioned by Douglas Schoen in
2009.
State of Entrepreneurship Today
35. Resources
• Investor Forums for Seed/Early Stage Co.’s
• Business Plan Competitions
• Industry Organizations
• Angel Funding Options
• Business Incubators
• Technology/Economic Development Centers
• Chambers of Commerce
• Others (WIBO, SCORE, SBA, Levin Institute,
Kauffman Organization)
36. Investor Forums
• UNYTECH / Smart Start Venture Forum
(upstate NY venture forum)
• Young Start Up Ventures –
www.youngstartup.com
• Keiretsu Forum
• Don’t forget about NJ:
• CIANJ
• NJTC
41. SBIR
• Small Business Innovation Research (
SBIR) Grants:
– Industrial & Technology Assistance Corp.
– Marion Ewing Kauffman Foundation
• Kauffman Campuses Initiative
42. Incubators
• East River Science Park
• Brooklyn BioBAT
• Business Incubator Assn of NY State
43. • ITAC: www.itac.org
• LIFT: L.I. High Technology Incubator
• Economic Development Corporations
• Small Business Development Centers
• SCORE
• SBA: Lender & Small Business Matchmaker
Events
• NYC Business Solutions Center (SEEDCo)
Tech/Econ. Development Centers
44. Other Resources
• Before the Negotiations: What Entrepreneurs
Need to Know About Seed and Early Stage
Venture Capital
• The Start-Up Company Map: Understanding
the Language of Entrepreneurship and the Path
Forward
• Do You Have an Investable Business Case?:
Your Story Versus What VCs Really Want to
Hear
• SeedNY
46. Other Resources
• Entrepreneurial Learning Institute
• www.Entrepreneurship.org
• Entrepreneur Daily Dose
• Mindset: Tapping Your Entrepreneurial IQ
• www.elientrepreneur.com
47. Other Resources
• Local Chambers of Commerce:
– Bronx
– Brooklyn
– Greater NY
– GVCCC
– Harlem
– Hispanic
– Manhattan
– Queens
– Staten Island
48. • Entrepreneurial Teams (52%) vs. Solo
Practitioners (48%)
• Business Coaching Enterprises: TAB, VISTAGE,
The Conference Board
• BNI
• University Start-Ups
• Company Employee Funding Programs
• Prior Work Experience
• Contract Workers, Consultants, Interns
Getting Help
49. Women & Minorities
• www.NAWBO.org
• www.wbenc.org
• www.score.org/minority_resources.html
• www.sba8a.com
• Set-asides: dedicated contracting funds for
women & minority-owned businesses
• Certification: Proof a majority of ownership is
in fact minority/women-owned
• Late/Second Career Entrepreneurs
54. • In Constant Contact With and Focus on the
World Around You
• Opportunity Recognition
– Turning Life’s LEMONS Into Lemonade
• Entrepreneurial Alertness
• Solving Needs, Providing Better Solutions
Where Inspiration Comes From
55.
56. • Your Passions
• Your Education / Expertise
• Your Family / Fiends
• Your Children
• Strangers
New Business Ideas Come From
57. • Nature
• Travel
• Your Peers & Fellow Employees
• Existing Competitors
• Brainstorming
New Business Ideas Come From
58.
59.
60. • SS - Substitute
• CC - Combine
•A - Adapt
• MM - Magnify/Modify
• PP - Put to other uses
• EE - Eliminate
•R - Rearrange
SCAMPER
61.
62.
63.
64. • Build a UNIQUE Culture
• Define Your Vision/Mission Statements
• Contract Workers vs. Full-time Employees
• Are You Offering a “Me-Too” Solution
• Communicate, LISTEN, Communicate
• The USP of YOU
• When You Start Out, Your PERSONAL
Brand = Your BUSINESS Brand
We’re ALL MarketersWe’re ALL Marketers
Dare To Be GREAT
71. DD DefineDefine the problemthe problem
OO OpenOpen your mind & applyyour mind & apply
creative techniquescreative techniques
II IdentifyIdentify the Solutionthe Solution
TT TransformTransform : implement the: implement the
solution using an action plansolution using an action plan
72. Task Owner Contributors Start End Contingencies Status
1. Find
new work
space for
staff
Carol
Jackso
n
2/1 4/1 Available capacity Open
1a:
Explore
space in
Main
building
Misty Beasley; Melissa
Benca; Diana Nash;
Paul Grayson; Emmalyn
Yamrick; Rosemary
Ampuero
2/1 2/15 Available capacity Open
89. 44 PerspectivePerspective Approach!Approach!
• Product/Service Perspective: Is
something WRONG with the product?
• Planning Perspective: Are our
business plans faulty?
• Potential Perspective: If we increase
our workload, projects, service
offerings, how would we achieve this?
• People Perspective: Do we have the
right people in the right jobs?
90. Problem Perspective:
X
X
X
Planning Perspective:
X
X
X
Potential Perspective:
X
X
X
People Perspective:
X
X
X
Problem Being AddressedProblem Being Addressed