Start Me Up - 6 Steps to Launching Your Own Startup Company
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Have a great idea for a business but don’t know how to get it off the ground? Join us in this session for a lively discussion on how to launch a new internet based startup business from the ground up.
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Start Me Up - 6 Steps to Launching Your Own Startup Company
- 1. START ME UP 6 Steps to Launching Your Own Startup Company Clint Edmonson, Co-founder of Zootography.com
- 2. Disclaimer! IANAL I am not a lawyer! CALOTMAAYOR Consult a lawyer or take my advice at your own risk!
- 3. Step 1:Have a Great Idea
- 4. Solve a pain Change the world Make meaning Compelling Realistic Profitable Step 1:Have a Great Idea
- 5. Step 2: Have A Plan
- 6. Step 2: Have A Plan Market Analysis Customer Profile - Market Size & Growth Potential - Major Competitors & Participants Product Offering Pricing - Differentiators & Positioning Marketing Plan Message - Marketing Plan Financial Projection 5 Year Earnings Prediction Exit Strategy?
- 7. A market without competition aint!
- 8. The Fundamental Business Equation Profit = Revenue - Costs What do you call it when costs exceed revenue? A hobby!
- 9. Step 3: Found Your Company
- 10. Step 3: Found Your Company Choose a business structure Proprietorship Partnership Corporation (S,C,Non-Profit, etc,) LLC … Get an Employer Identification Number (EIN) For tax returns, even if you won’t hire employees Get a bank account Seed with initial funding for up front costs Register your trademark Use TM right away for some protection, get it formally registered for more protection
- 11. Step 4: Build Your Profit Engine
- 12. Step 4: Build Your Profit Engine Realize your dream! Buckle down and get to work. Build value! Leverage your allies Angel Investors Venture Capitalists Gov’t Assistance Programs Vendor Incentives
- 13. Step 5: Tell the World About It
- 14. Step 5: Tell the World About It What percentage of your budget should be spent on marketing? 30% 50% 70% How many impressions turn into leads for a typical marketing campaign? 3% 10% 18% Understand the three marketing power tools Impressions Leads Mavens
- 15. Marketing Impression Example #1
- 16. Marketing Impression Example #2 Are you a technology start-up? BizSpark is an innovative new program that unites Startups with entrepreneurial and technology resources in a global community with a common goal of supporting and accelerating the success of a new generation of high-potential Startups. http://www.microsoft.com/bizspark
- 17. Step 6: Make $$$
- 18. Step 6: Make $$$ Favor regular, recurring transactions Companies live and die by monthly cash flow Keep good books and pay your taxes Estimated quarterly taxes Others – Federal, State, City, Franchise, Sales, Use Find a good lawyer… They say every company gets sued at some point and a better accountant Provide consultation on financial best practices and tax laws
- 19. Resources The Art of the Start – Guy Kawasaki How to Start A Business In Missouri – Entrepreneur Press Streetwise Business Tips – Bob Adams The Tipping Point – Malcolm Gladwell
- 20. Thank You Clint Edmonson Cofounder - Zootography.com Email: clint@zootography.com Web: http://www.zootography.com Twitter: @clinted
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