Brief Power Point presentation for starting a Small Business.

1. 10 Steps to
Starting a
Successful
Small Business
Presented by
Melinda Schoenfeld

2. Summary Slide
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Create a Life Plan
Choosing a Business Model
Create a Business Plan
Select a Business Structure
Create Key Business Assets
Find the Funding
Organize Logistics
Find Great People
Establish a Brand
Market and Sell
Melinda Schoenfeld - L00168990

3. Create a Life Plan
Some of the most successful and happy people we know are entrepreneurs
who
created a business that’s in perfect synchronicity with what they want out of life.
If you do what you love, you’ll work harder, better and more happily.1
Elements of Your Life Plan:
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Your current status
Your ideal life
Your loves
Your skills & capabilities
Your track record
Melinda Schoenfeld - L00168990

4. Choosing a Business
Model
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Home-based
Brick-and-Mortar
e-Commerce
eBay
Franchising
The key is to choose a
business model that fits
your Life Plan. This will
ensure that you spend the
right number of hours
each week, take the right
level of risk, are practical
in terms of your financial
wherewithal, and gain the
kind of satisfaction and
success you’re after.1
Melinda Schoenfeld - L00168990

5. Create a Business Plan
The process of creating and writing a business plan is as valuable as
the end product itself – a document that will provide the priorities,
context and sanity you’ll need as you start up your business.1
Ask yourself these important
questions:
• What’s your idea
• How does your idea address a need
• What’s so different about what you offer?
• How big is the market
• Start-up money
Melinda Schoenfeld - L00168990

6. Select a Business Structure
21%
28%
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Sole Proprietorships
Partnerships
Corporations
Limited Liability
Companies
14%
37%
Sole Proprietors
Parterships
Corporations
LLCs
Melinda Schoenfeld - L00168990

7. Create Key Business Assets
Your company assets are only as good as your ability to protect them.1
• Website
Address
• Trademarks
• Copyrights
• Patents
• Confidentiality
Agreements
Monetary
Company
Assets
Physical
Melinda Schoenfeld - L00168990
Intellectual

8. Find the Funding
Ways to fund your business
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Bootstrapping
Debt Financing
Angel Investors
Friends and Family
Venture Capitalists
Melinda Schoenfeld - L00168990

9. Organize Logistics
Have your books in order, your contracts buttoned up, your money
safely managed, and your downside covered are each critical to your
personal and business future.1
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Accounting
Legal Services
Insurance
Banking
Information
Technology
Melinda Schoenfeld - L00168990

10. Find Great People
The single most important factor in the success of a company is
its people.1
• Understanding the
Power of People
• Find the stars to bring
onto your team
• Keep your stars
• Importance of a
mentor
Melinda Schoenfeld - L00168990

11. Establish a Brand
One of the most important assets you can develop for your
business is a powerful brand.1
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Draft your brand DNA or essence
Define and relate to your target audience
Choose a brand name and logo
Make a list of other touch points
Create a demand for your brand
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Melinda Schoenfeld - L00168990

12. Market and Sell
Get the word out about your business
Research &
Strategy
Marketing
Materials
Marketing
Methods
How many people in
the overall market?
Business cards
Grassroots Marketing
Who is your typical
buyer?
Letterhead
Public Relations
Customer’s habits and
behaviors
Brochures
Affiliate Marketing
How much are they
willing to pay?
Online Marketing
Why you instead of
your competitor?
Traditional Marketing2
Melinda Schoenfeld - L00168990

13. Resources
1The
Sloan Brothers, 10 Steps to Open for
Business. www.startupnation.com, 2008.
2Small
2008
Business Administration, www.sba.gov,