Upload
others
View
2
Download
0
Embed Size (px)
Citation preview
Partnership and Hosting
We are the premier provider of Business Advisory Services to
the small business community.
Our mission is to create economic opportunity by empowering
entrepreneurs.
Seminar ExamplesAccess to Capital Successful Business Plans
Starting a Business Meet the Lenders
Social Media Government Contracts
Marketing Law for Entrepreneurs
Worker Owned Businesses Buying a Business
Starting a Restaurant Crowdfunding and Alternatives
Starting a Food Business How to Pitch Your Company
Finding Your Core Customer Exporting
Website Development Home Based Businesses
ACSBDC Consultants
Ron Barrett
LoansFJ Cava
Generalist
David Bokash
Business Technology
Lee Lambert
Director
Deagon Williams
Food & Restaurants
Paula
Mattisonsierra
Retail
Mari Lovalvo
Human Resources
David Mitroff
Social Media
ACSBDC Consultants
Dorian Webb
Operations
Bob Komoto
Export/Import
Maria Mejia
Finance
Tom Camerato
Financial Modeling
Mary Passarella
Accounting
Tom Yeh
Strategy
Ed Duarte
Construction
Paul Bozzo
Equity Funding
Introductions
Paula Mattisonsierra
My Area of Expertise: • Retail and Wholesale
• Marketing and Operations
• Product Development & Production
• Entrepreneurship
About Me & My Business
12www.acsbdc.orgWritten & created by P. Mattisonsierra
GETTING STARTED
: a feasibility plan
Assess your talents and skills.
Can you merge your talents and skills together,
in order to generate a business idea(s)?
SWOT Analysis of yourself.
Testing your business idea(s).
20 Questions before starting a business.
13www.acsbdc.orgWritten & created by P. Mattisonsierra
Assess your talents, skills and lifestyle
What are your personal traits?
Example: creative or detail
oriented or loves people
What makes you happy?
Family commitments?
Are you financially prepared?
14www.acsbdc.orgWritten & created by P. Mattisonsierra
Can we create a business idea:
from your talents & skills
List all your ideas at this stage.
Don't censor yourself as you list home
business ideas.
Crossing off choices comes later.
15www.acsbdc.orgWritten & created by P. Mattisonsierra
A SWOT Analysis Of Yourself
What are your strengths?
What are your weaknesses?
What are your
opportunities?
What are the threats to you
starting this business?
16www.acsbdc.orgWritten & created by P. Mattisonsierra
20 Questions Before
Starting a Business
1. Am I prepared to spend the time, money and resources
needed to get my business started?
2. What kind of business do I want?
3. What products/services will my business provide?
4. Why am I starting a business?
5. What is my target market?
6. Who is my competition?
7. What is unique about my business idea and the
products/services I will provide?
17
8. How soon will it take before my products/services are
available?
9. How much money do I need to get my business set up?
10. How long do I have to finance the company until I start
making a profit?
11. Will I need to get a loan?
12. How will I price my product compared to my
competition?
13. How will I market my business?
18
20 Questions Before
Starting a Business
14. How will I set up the legal structure of my business?
15. How will I manage my business?
16. Where will I house my business?
17. How many employees will I need to start up?
18. What types of suppliers do I need to contact?
19. What kind of insurance do I need to invest in?
20. What do I need to do to ensure I am paying my taxes
correctly?
19
20 Questions Before
Starting a Business
Testing your final business idea
Do your
research.
Volunteering.
Working part-
time.
Testing your
product (a test
group & then
customers).
20www.acsbdc.orgWritten & created by P. Mattisonsierra
Business Plan
All business plans will be different – customize
to the specific business.
It’s an oversized “TO DO” List.
Here are some DO(s) of a business plan:
– Gather Information
– Preparation
– Planning
These activities are crucial to success…
DO NOT AVOID THEM.
21www.acsbdc.orgWritten & created by P. Mattisonsierra
Creating your business plan
Executive Summary: snapshot of your plan
Company Description: who, what, where, when, why
Market Analysis: industry information
Organizational & Management: The people
Service or Product offering: what do you sell?
Marketing & Sales: what will set your offering apart?
Funding Request: are you seeking funding?
Financial Projections: expenses & revenue
Exit Strategy: what are your plans - stay or go?
22www.acsbdc.orgWritten & created by P. Mattisonsierra
The importance of the business plan
A personal business guide.
Help a business to structure for profitability.
And will help a business target the right
customers.
Growth.
Funding Assistance.
23www.acsbdc.orgWritten & created by P. Mattisonsierra
What plan is right?
One Page Plan
- Sometimes that is all you need to execute a vision
Lean Startup Plan
- Trial and error, feedback loops - set up at low cost to
find your market (best for products)
Comprehensive Plan
- Often required for lenders, investors, landlords at start-up
One Page Plan
Basic summary of all of the essential elements of a
business plan
Quickest way to get started
Can be converted into your “pitch” to potential investors,
customers, others
Lean Startup Plan
Essentially uses the one page model, but continuously
revises based on customer feedback loops
Experimental and iterative – “fail fast”
What is your Minimum Viable Product (MVP)?
What is the customer willing to pay for and how much
will they pay?
Creating your business plan
Build Your Business Plan
A free business plan tool - SBA
http://www.sba.gov/business-plan/1
27www.acsbdc.orgWritten & created by P. Mattisonsierra
Starting your business legally
Check the zoning.
Choose a legal entity for your
protection.
Get license and permits.
Protect your intellectual
property.
Determine sign limitations.
28www.acsbdc.orgWritten & created by P. Mattisonsierra
Check the zoning
Working from home may not be legal for your
residence.
Municipal zoning laws limited activities from a
residence.
Consultants typically will have no problems.
It is more challenging for product based businesses
and other inventory based businesses.
Challenging if you have employees, customers, etc.
For coop or condo – check your board restrictions.
29www.acsbdc.orgWritten & created by P. Mattisonsierra
Choose a legal entity for your protection
Sole Proprietor
Incorporation
Partnership
Speak to an Accounting and Lawyer for the
best choice for your business.
30www.acsbdc.orgWritten & created by P. Mattisonsierra
Get license and permits
Operating from home does not eliminate your
federal, state or local licensing and permit
obligations.
Start with your city’s County Clerk office.
A resource recommendation
http://business.usa.gov/
31www.acsbdc.orgWritten & created by P. Mattisonsierra
Protect your intellectual property
Before your invest time and money into the
business protect your assets.
No protection means that someone else can use
your name, invention or song without paying you.
US Patent & Trademark - http://www.uspto.gov/
Copyright Office - http://www.copyright.gov/
32www.acsbdc.orgWritten & created by P. Mattisonsierra
Signage limitation
Many cities will have limitations of signage
Are signs allowed in your residential zone?
Where and how can it be displayed?
Call your County Clerk’s office to find out.
33www.acsbdc.orgWritten & created by P. Mattisonsierra
Working from home – The Challenges
Balancing home/work.
Set office hours.
Self-discipline & isolation.
Not being taken professionally without a
traditional office.
34www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing your home based business
Marketing a home based business is
still marketing.
It will vary based on the type of
business.
Not a “plug and play concept”.
35www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing your home based business
Questions to ask as you plan your marketing:
Who are your customers? Example - age,
gender, income, geographic region, etc.
Who are your competitors?
What is your time allocation for marketing?
What is a realistic budget for you?
36www.acsbdc.orgWritten & created by P. Mattisonsierra
Why is MARKETING Important?
Why is Marketing
important?
To create revenue
To maintain existing
customer base.
To find news customers
To build the brand
37www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing: The Elements of Marketing
There are Four (4) elements which make up the study
of Marketing.
Important Definition: The 4Ps of Marketing
38www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing: The 4Ps Explained
The 4Ps of Marketing to examine as you create your
Marketing Strategy:
Product or Service: Whatever is being sold.
Price: The amount of money asked for, or given
in exchange for your product/service.
Place: Distribution channels (where will your
customers find the product/service).
Promotion: An activity designed to encourage
the purchase of a product.
39www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing: The 5th P …
The 5P of Marketing:
People: Your customer
Important Definition:
Target Audience /Customer
A unique groups of customers for your product and/or
service, who want and can afford your
product.
40www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing definition
Marketing is more than just placing an advertisement…
Developing the right product(s) or service(s), at the
right price, at the right place, in the right quantities at
the right time and offering it to the right customer.
41www.acsbdc.orgWritten & created by P. Mattisonsierra
The Big Question for Marketing is…
Who is your customer?
Also known as
YOUR TARGET AUDIENCE
OR TARGET CUSTOMER
42www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing: Old Mediums of Marketing
Out
Bound
Messages
Only
50www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing: New Mediums of Marketing
There can
be an
Interactive
conversation
51www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing discussion
Business to Business (B2B)
Networking:
http://www.entrepreneur.com/blog/223468
http://www.slideshare.net/bozward/business-
networking-basics
52www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing discussion
There are 5 Types of promotion tools which can
be used for your marketing plan:
Advertising
Sales Promotion
Public Relations
Personal Selling
Direct Marketing
To create a marketing plan, you can use a
combination of these – A Promotional mix
53www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing discussion
An explanation of the 5 types of
promotion: Advertising: paid and to be effective it must be
repeated over a period of time
Sales Promotion: This is meant to be a short-term
incentive to motivate sales and to convert new
customers to try your product(s) or services(s)
Public Relations: Free, but time incentive is needed
to acquire these free write ups
54www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing discussion
Cont’d
An explanation of the 5 types of promotion:
Personal Selling: This involves Sales, directly selling
your product to your Customer.
Direct Marketing: Mailers and the shopping network.
Only effective if you have appropriately target the
right customer.
55www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing discussion
A promotional mix: It is a common mistake to believe that promotion by business
is all about advertising only. It isn’t.
Create a combination of the promotional elements above,
which is appropriate for your customers - is called a
promotional mix.
Promotion is all about communicating your
message. Why? Because promotion is the way a business
makes its products known to the customers, both current and
potential.
REMINDER: Be Consistent with your message.
56www.acsbdc.orgWritten & created by P. Mattisonsierra
Marketing: Create a strategy
A marketing plan should include 4
elements: Penetration strategy
Growth strategy.
Channel of Distribution strategy.
Communication strategy (promotional mix).
57www.acsbdc.orgWritten & created by P. Mattisonsierra
Next steps – when is it time to make a change?
Way outside of your zoning.
Your business has taken over your home.
Employees and customers
Trouble claiming the home office tax deduction
Family and Space
58www.acsbdc.orgWritten & created by P. Mattisonsierra
Way outside of your zoning
You know when it’s time to a space when…
You know your business is violating some zoning laws.
Small business owners get away with a lot, when we’re
working in the privacy of our own homes.
Most cities have fairly strict laws about what sorts of
businesses can operate – fines are severe.
Irritating your neighbors — the people who are most
likely to report any zoning violations.
BEWARE – fines are severe.
59www.acsbdc.orgWritten & created by P. Mattisonsierra
Your business has taken over your home
You know when it’s time to a space
when…
If you can walk into any room in
your home and find something
related to your business, you may
need to rein things in or move out.
You need to maintain some living
space
If your family feels things are getting
out of hand, take those concerns
seriously.
60www.acsbdc.orgWritten & created by P. Mattisonsierra
Employees and Customers
You know when it’s time to a space when…
You have employees or customers who need to come
to your place of business.
If the “people traffic” is exponentially increasing.
Parking challenges because of this flow - annoyed
neighbors are not a good thing.
Lack of a professional setting for customers.
Due to the clutter you are unable to maintain a serene
work environment.
61www.acsbdc.orgWritten & created by P. Mattisonsierra
Trouble claiming the home office tax deduction
Claiming the home office tax deduction is tricky,
especially since you have to be able to declare that a
given space is used only for your business and not for
anything else.
A percentage versus tax write off for the rent on a
space.
May not be enough to justify making the leap, but take
the time to run the numbers.
62www.acsbdc.orgWritten & created by P. Mattisonsierra
Family and Space
Major advantage from the point of view
of a parent: you can (theoretically)
reduce your childcare costs by multi-
tasking and you’re right there if you’re
needed.
But the reality is that running a business
in the same place your kids are playing is
incredibly tough, especially when they’re
too young to understand what’s going on.
Sound proofing from a child is difficult.
Even a small outside office might be a
resource.
63www.acsbdc.orgWritten & created by P. Mattisonsierra
SUMMARY
Be courageous. Do your research.
Understand your CUSTOMER. This will be the basis
of your entire business.
Budget money for marketing.
Allow yourself to grow
Have a plan for moving forward.
64www.acsbdc.orgWritten & created by P. Mattisonsierra
THANKS EVERYONE
CLOSING:Remember to sign up for Consultation with the organization that fits your needs
Complete the evaluation forms
Please like The Alameda County SBDC on Facebook
My name again is Paula Mattisonsierra
Thank You
www.acsbdc.orgWritten & created by P. Mattisonsierra