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KICKOFF EVENT


       EntrepreneurshipLab.net
Quick housekeeping notes
- Webcast & chat are at http://entrepreneurshiplab.net/live
- I’ll check in at the breaks
- 9 a.m. to Noon-ish Central Time
- Slides, recordings will be posted to member’s area after
- Would love for you to Tweet & Facebook all this
- I’m @corymiller303 and you can use hashtag #entrelab


                                 EntrepreneurshipLab.net
Today’s Sessions
- Is Entrepreneurship For You: 8 Questions to Ask
- Your Startup’s First Critical Partners
- Finding the Right Business Idea For You




                                   EntrepreneurshipLab.net
What is the Lab about?



               EntrepreneurshipLab.net
Helping each other start, run &
grow successful businesses



                 EntrepreneurshipLab.net
Entrepreneurship
is a tough, frustrating
& often lonely job


                 EntrepreneurshipLab.net
Lab is a private community
to learn & grow;
get support, feedback
& encouragement


                EntrepreneurshipLab.net
Hear from entrepreneurs
who have succeeded



               EntrepreneurshipLab.net
Monthly training topics
- Based on input and    - Leadership and
  demand                  Management

- Marketing             - Products and Services
- Work-LIfe Alignment   - Personal, Professional and
                          Career Development
- Customer Service,
  Support and Care      - Accounting and Financial
                          Management




                         EntrepreneurshipLab.net
Startups are experiments
The Lab is your place to launch & learn




                      EntrepreneurshipLab.net
Who Am I?
- Had 13 jobs since I was 16
- Being an entrepreneur is the BEST job I’ve ever had
- Started out in newspaper journalism
- 3 daily newspapers; 1 sports magazine; 3 nonprofits
- Always wanted to be an entrepreneur like my grandfathers




                                 EntrepreneurshipLab.net
My Tipping Point
- Started professional blog in 2006
- Went from unknown to known
- Started learning web design at night
- Stumbled into a great freelance business
- Then my back started hurting from 16 hours days
- Wanted to build something bigger than myself


                                 EntrepreneurshipLab.net
The dream made real
- Went full-time in 2008 with iThemes
- We build software & training for web designers
- 20+ employees, hundreds of products, thousands of
  customers and on track for record year in 2012

- Named 7th Fastest Growing Co. in OKC in 2011




                                 EntrepreneurshipLab.net
Is Entrepreneurship For You?
8 Questions Before the Journey Begins




                          EntrepreneurshipLab.net
Why Start a Business
in the First Place?



               EntrepreneurshipLab.net
Some Reasons to Start a Biz
- Create your ideal job doing rockin’ work
- Align work with life
- Work with people you like & enjoy
- Turn ideas into reality
- Make money building something you own
- And ...



                                 EntrepreneurshipLab.net
Change the World!
Make Meaning While Making Money




                        EntrepreneurshipLab.net
The First 8 Questions
To Get You Started



                EntrepreneurshipLab.net
1. What does your calendar
look like for the next 5 years?



                 EntrepreneurshipLab.net
1. Block out 2012-2017
What consumes you enough
to devote 1,825 days to?



             EntrepreneurshipLab.net
2. What do you want to
offer that makes people’s
lives awesome?


                EntrepreneurshipLab.net
2. Make people’s
lives awesome
How are you making
someone’s life easier, better?



                 EntrepreneurshipLab.net
3. What does your perfect
playground look like?



               EntrepreneurshipLab.net
How do you want
or need to work?



              EntrepreneurshipLab.net
4. How are you going
to make money?



               EntrepreneurshipLab.net
Passion without profit
is called a hobby



               EntrepreneurshipLab.net
5. Who is your pirate crew?



                EntrepreneurshipLab.net
You need people, dummy



              EntrepreneurshipLab.net
“If you want to go fast, go alone.
If you want to go far, go together.”
                        —African proverb




                    EntrepreneurshipLab.net
6. What would you
give up to get it?



               EntrepreneurshipLab.net
Sacrifice



           EntrepreneurshipLab.net
How BAD do you want it?



              EntrepreneurshipLab.net
My secret motivating
kick in the pants?



               EntrepreneurshipLab.net
I’m scared to death of ...
REGRET



                 EntrepreneurshipLab.net
I want my life to COUNT



               EntrepreneurshipLab.net
And so do you!



                 EntrepreneurshipLab.net
7. What are you doing NOW
to achieve your dream?



              EntrepreneurshipLab.net
What is ONE thing
you can do TODAY
that can make the biggest
impact & move you closer?

               EntrepreneurshipLab.net
“Vision without execution
is hallucination.”
                     —Albert Einstein




                EntrepreneurshipLab.net
8. Now ... what are you
waiting for?



                EntrepreneurshipLab.net
Q&A + Discussion



              EntrepreneurshipLab.net
Next session starts shortly!
KICKOFF EVENT


       EntrepreneurshipLab.net
Your First Critical Partners
The Key People You Need For Success




                         EntrepreneurshipLab.net
1. Significant Other



                EntrepreneurshipLab.net
First, most valuable,
most influential partner in biz



                 EntrepreneurshipLab.net
S.O. can make or
break your startup



                EntrepreneurshipLab.net
Startup is a baby
you’re raising together



                EntrepreneurshipLab.net
Biz should be a
shared compelling vision
you have for your lives


               EntrepreneurshipLab.net
Before you start,
get away together



               EntrepreneurshipLab.net
2. Accountant



                EntrepreneurshipLab.net
Help with managing cashflow
and paying taxes



              EntrepreneurshipLab.net
Cash is oxygen for biz



                EntrepreneurshipLab.net
Too many fall or fail here



                 EntrepreneurshipLab.net
A financial partner helps
manage this essential aspect



               EntrepreneurshipLab.net
Questions to Ask
- What will I need to do or plan for this year? (Taxes, etc)
- What financial software do you use or recommend?
- Where do you bank and why?
- What services do you typically provide businesses?
- Do you understand my business?
- Do you have clients doing similar things to what I’m doing?
- What advice & tips do you have for me to ensure
  maximum success?

                                   EntrepreneurshipLab.net
3. Attorney



              EntrepreneurshipLab.net
First, to setup your legal
business entity



                 EntrepreneurshipLab.net
Second, to have someone to
call when an issue comes up



               EntrepreneurshipLab.net
4. Team



          EntrepreneurshipLab.net
Whoever you need
to build & ship



             EntrepreneurshipLab.net
The Team Could Be ...
- Volunteer Team Members
- Paid Team Members
- Financial Partners
- Equity Partners
- Vendors / Suppliers
- Collaborators / Joint Venture Partners
- Consultants / Contractors

                                 EntrepreneurshipLab.net
5. Mentors



             EntrepreneurshipLab.net
Outside counsel
Experienced truth teller
Not compensated
Not a team member or partner


                EntrepreneurshipLab.net
6. Customers



               EntrepreneurshipLab.net
Everything in a startup
is an experiment to test



                EntrepreneurshipLab.net
The ultimate test is
if someone will give
you $$$ for it


                EntrepreneurshipLab.net
Never ever forget:
Customers are key partners
in your entrepreneurial dream



                     EntrepreneurshipLab.net
Q&A + Discussion



              EntrepreneurshipLab.net
Next session starts shortly!
KICKOFF EVENT


       EntrepreneurshipLab.net
Finding the Right Biz
Opportunity for You
Aligning Who You Are With What You Do




                         EntrepreneurshipLab.net
For now ...
Put aside your big idea



                EntrepreneurshipLab.net
Let’s talk about
Work-Life Alignment



               EntrepreneurshipLab.net
Misalignment happens
when biz doesn’t MATCH you



              EntrepreneurshipLab.net
Save yourself some grief



                EntrepreneurshipLab.net
By the way ...
This is an exercise to go
through with your S.O.



                 EntrepreneurshipLab.net
The goal is to ...
Know yourself
and what you want



                     EntrepreneurshipLab.net
1. What are your life’s hopes,
dreams & goals?



                EntrepreneurshipLab.net
Questions to ask yourself
- What does success look like     - What are your lifestyle and
  at the end of the day? At the     living goals? What does living
  end of your life?                 a good life look like for you?

- Answer the old question:        - Where do you want to be in 6
  What do you want written on       months, 1 year, 5 years … or
  your tombstone?                   when you're 30, 40, 50, 60?

- Who do you love and cherish     - What are those future facts for
  most in life?                     what your life will look life
                                    then?
- What do your family goals
  look like?                      - What does success for you
                                    look like and feel?
- What are you financial goals?
                                   EntrepreneurshipLab.net
Let me ask it another way

What do you really want
your life to be about?



                            EntrepreneurshipLab.net
Take some time with these



               EntrepreneurshipLab.net
2. Let’s talk personality ...



                  EntrepreneurshipLab.net
Two Helpful Discovery Tools:

Myers-Briggs Test Indicator
mbticomplete.com

StrengthsFinder
strengthsfinder.com


                      EntrepreneurshipLab.net
Why do these?
- Based on extensive survey and research
- Helps you understand yourself better
- See yourself from the outside-in
- Find what you’re naturally good at
- Avoid what you’re ridiculously bad at
- Recruit people to compliment you
- Find areas of interest that you might not have explored

                                 EntrepreneurshipLab.net
The step that sometimes gets skipped
3. What expertise and
experiences do you have?



                           EntrepreneurshipLab.net
List out your resume in detail



                 EntrepreneurshipLab.net
All the jobs you’ve had?
Career fields, industries?
Favorite jobs & why?
Biggest impact you made?


                 EntrepreneurshipLab.net
4. What are your passions,
hobbies and interests?



               EntrepreneurshipLab.net
The best businesses ...
- Champion a CAUSE (a better tomorrow)
- Come out of a CRISIS (an experience)
- Promote a CORE VALUE (a belief, philosophy)
- Offer a CURE (a solution)



                           EntrepreneurshipLab.net
So what stirs you up?



               EntrepreneurshipLab.net
Two tips for exploring ...

1. Be careful with stress relief hobbies,
a business could ruin it for you

2. You don’t know what you really like
until you explore it. Try it out.


                        EntrepreneurshipLab.net
Now a big question ...



                EntrepreneurshipLab.net
5. What would people PAY
you to do that you would
ENJOY the most?


              EntrepreneurshipLab.net
Make two columns:
1. What you want to do most
2. What you think people would pay for

Find the top rated intersections.



                       EntrepreneurshipLab.net
Now, let’s bring
back your big awesome
business ideas ...


              EntrepreneurshipLab.net
The sobering up questions
It’s time to get really real



                            EntrepreneurshipLab.net
1. Is it the best way to
achieve your goals?



                 EntrepreneurshipLab.net
2. Will you enjoy chasing it?



                 EntrepreneurshipLab.net
3. Can you invest the
next 5 years pursuing it?
                       Count the cost




                 EntrepreneurshipLab.net
4. How interested in it
are you now?
            Rate it on a scale from 1 to 10




                   EntrepreneurshipLab.net
5. Is your S.O.
fully on board?



                  EntrepreneurshipLab.net
You should know now whether it’s time to ...
Take a next step
or reassess & start over



                            EntrepreneurshipLab.net
Business-Life Alignment
- Align with who you are & what you want
- Play to your strengths, not weaknesses
- Pursue what helps you best achieve your
 goals & dreams
- And will capture your interest & secure your
 long-term commitment to see it succeed


                           EntrepreneurshipLab.net
Q&A + Discussion



              EntrepreneurshipLab.net
Next webinars
- The Great Entrepreneurial Experiment
- Oct. 10 at 7 p.m. Central


- Essential Steps for Bootstrapping Your Biz
- Oct. 23 at 7 p.m. Central




                              EntrepreneurshipLab.net
In the meantime ...
- Complete the member survey
- http://entrepreneurshiplab.net/dashboard/


- Post an introduction or question in the forum
- http://entrepreneurshiplab.net/forum/


- Invite someone else to join you ...

                                 EntrepreneurshipLab.net

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EntrepreneurshipLab.net Kickoff Event

  • 1. KICKOFF EVENT EntrepreneurshipLab.net
  • 2. Quick housekeeping notes - Webcast & chat are at http://entrepreneurshiplab.net/live - I’ll check in at the breaks - 9 a.m. to Noon-ish Central Time - Slides, recordings will be posted to member’s area after - Would love for you to Tweet & Facebook all this - I’m @corymiller303 and you can use hashtag #entrelab EntrepreneurshipLab.net
  • 3. Today’s Sessions - Is Entrepreneurship For You: 8 Questions to Ask - Your Startup’s First Critical Partners - Finding the Right Business Idea For You EntrepreneurshipLab.net
  • 4. What is the Lab about? EntrepreneurshipLab.net
  • 5. Helping each other start, run & grow successful businesses EntrepreneurshipLab.net
  • 6. Entrepreneurship is a tough, frustrating & often lonely job EntrepreneurshipLab.net
  • 7. Lab is a private community to learn & grow; get support, feedback & encouragement EntrepreneurshipLab.net
  • 8. Hear from entrepreneurs who have succeeded EntrepreneurshipLab.net
  • 9. Monthly training topics - Based on input and - Leadership and demand Management - Marketing - Products and Services - Work-LIfe Alignment - Personal, Professional and Career Development - Customer Service, Support and Care - Accounting and Financial Management EntrepreneurshipLab.net
  • 10. Startups are experiments The Lab is your place to launch & learn EntrepreneurshipLab.net
  • 11. Who Am I? - Had 13 jobs since I was 16 - Being an entrepreneur is the BEST job I’ve ever had - Started out in newspaper journalism - 3 daily newspapers; 1 sports magazine; 3 nonprofits - Always wanted to be an entrepreneur like my grandfathers EntrepreneurshipLab.net
  • 12. My Tipping Point - Started professional blog in 2006 - Went from unknown to known - Started learning web design at night - Stumbled into a great freelance business - Then my back started hurting from 16 hours days - Wanted to build something bigger than myself EntrepreneurshipLab.net
  • 13. The dream made real - Went full-time in 2008 with iThemes - We build software & training for web designers - 20+ employees, hundreds of products, thousands of customers and on track for record year in 2012 - Named 7th Fastest Growing Co. in OKC in 2011 EntrepreneurshipLab.net
  • 14. Is Entrepreneurship For You? 8 Questions Before the Journey Begins EntrepreneurshipLab.net
  • 15. Why Start a Business in the First Place? EntrepreneurshipLab.net
  • 16. Some Reasons to Start a Biz - Create your ideal job doing rockin’ work - Align work with life - Work with people you like & enjoy - Turn ideas into reality - Make money building something you own - And ... EntrepreneurshipLab.net
  • 17. Change the World! Make Meaning While Making Money EntrepreneurshipLab.net
  • 18. The First 8 Questions To Get You Started EntrepreneurshipLab.net
  • 19. 1. What does your calendar look like for the next 5 years? EntrepreneurshipLab.net
  • 20. 1. Block out 2012-2017
  • 21. What consumes you enough to devote 1,825 days to? EntrepreneurshipLab.net
  • 22. 2. What do you want to offer that makes people’s lives awesome? EntrepreneurshipLab.net
  • 24. How are you making someone’s life easier, better? EntrepreneurshipLab.net
  • 25. 3. What does your perfect playground look like? EntrepreneurshipLab.net
  • 26. How do you want or need to work? EntrepreneurshipLab.net
  • 27. 4. How are you going to make money? EntrepreneurshipLab.net
  • 28. Passion without profit is called a hobby EntrepreneurshipLab.net
  • 29. 5. Who is your pirate crew? EntrepreneurshipLab.net
  • 30. You need people, dummy EntrepreneurshipLab.net
  • 31. “If you want to go fast, go alone. If you want to go far, go together.” —African proverb EntrepreneurshipLab.net
  • 32. 6. What would you give up to get it? EntrepreneurshipLab.net
  • 33. Sacrifice EntrepreneurshipLab.net
  • 34. How BAD do you want it? EntrepreneurshipLab.net
  • 35. My secret motivating kick in the pants? EntrepreneurshipLab.net
  • 36. I’m scared to death of ... REGRET EntrepreneurshipLab.net
  • 37. I want my life to COUNT EntrepreneurshipLab.net
  • 38. And so do you! EntrepreneurshipLab.net
  • 39. 7. What are you doing NOW to achieve your dream? EntrepreneurshipLab.net
  • 40. What is ONE thing you can do TODAY that can make the biggest impact & move you closer? EntrepreneurshipLab.net
  • 41. “Vision without execution is hallucination.” —Albert Einstein EntrepreneurshipLab.net
  • 42. 8. Now ... what are you waiting for? EntrepreneurshipLab.net
  • 43. Q&A + Discussion EntrepreneurshipLab.net
  • 45. KICKOFF EVENT EntrepreneurshipLab.net
  • 46. Your First Critical Partners The Key People You Need For Success EntrepreneurshipLab.net
  • 47. 1. Significant Other EntrepreneurshipLab.net
  • 48. First, most valuable, most influential partner in biz EntrepreneurshipLab.net
  • 49. S.O. can make or break your startup EntrepreneurshipLab.net
  • 50. Startup is a baby you’re raising together EntrepreneurshipLab.net
  • 51. Biz should be a shared compelling vision you have for your lives EntrepreneurshipLab.net
  • 52. Before you start, get away together EntrepreneurshipLab.net
  • 53. 2. Accountant EntrepreneurshipLab.net
  • 54. Help with managing cashflow and paying taxes EntrepreneurshipLab.net
  • 55. Cash is oxygen for biz EntrepreneurshipLab.net
  • 56. Too many fall or fail here EntrepreneurshipLab.net
  • 57. A financial partner helps manage this essential aspect EntrepreneurshipLab.net
  • 58. Questions to Ask - What will I need to do or plan for this year? (Taxes, etc) - What financial software do you use or recommend? - Where do you bank and why? - What services do you typically provide businesses? - Do you understand my business? - Do you have clients doing similar things to what I’m doing? - What advice & tips do you have for me to ensure maximum success? EntrepreneurshipLab.net
  • 59. 3. Attorney EntrepreneurshipLab.net
  • 60. First, to setup your legal business entity EntrepreneurshipLab.net
  • 61. Second, to have someone to call when an issue comes up EntrepreneurshipLab.net
  • 62. 4. Team EntrepreneurshipLab.net
  • 63. Whoever you need to build & ship EntrepreneurshipLab.net
  • 64. The Team Could Be ... - Volunteer Team Members - Paid Team Members - Financial Partners - Equity Partners - Vendors / Suppliers - Collaborators / Joint Venture Partners - Consultants / Contractors EntrepreneurshipLab.net
  • 65. 5. Mentors EntrepreneurshipLab.net
  • 66. Outside counsel Experienced truth teller Not compensated Not a team member or partner EntrepreneurshipLab.net
  • 67. 6. Customers EntrepreneurshipLab.net
  • 68. Everything in a startup is an experiment to test EntrepreneurshipLab.net
  • 69. The ultimate test is if someone will give you $$$ for it EntrepreneurshipLab.net
  • 70. Never ever forget: Customers are key partners in your entrepreneurial dream EntrepreneurshipLab.net
  • 71. Q&A + Discussion EntrepreneurshipLab.net
  • 73. KICKOFF EVENT EntrepreneurshipLab.net
  • 74. Finding the Right Biz Opportunity for You Aligning Who You Are With What You Do EntrepreneurshipLab.net
  • 75. For now ... Put aside your big idea EntrepreneurshipLab.net
  • 76. Let’s talk about Work-Life Alignment EntrepreneurshipLab.net
  • 77. Misalignment happens when biz doesn’t MATCH you EntrepreneurshipLab.net
  • 78. Save yourself some grief EntrepreneurshipLab.net
  • 79. By the way ... This is an exercise to go through with your S.O. EntrepreneurshipLab.net
  • 80. The goal is to ... Know yourself and what you want EntrepreneurshipLab.net
  • 81. 1. What are your life’s hopes, dreams & goals? EntrepreneurshipLab.net
  • 82. Questions to ask yourself - What does success look like - What are your lifestyle and at the end of the day? At the living goals? What does living end of your life? a good life look like for you? - Answer the old question: - Where do you want to be in 6 What do you want written on months, 1 year, 5 years … or your tombstone? when you're 30, 40, 50, 60? - Who do you love and cherish - What are those future facts for most in life? what your life will look life then? - What do your family goals look like? - What does success for you look like and feel? - What are you financial goals? EntrepreneurshipLab.net
  • 83. Let me ask it another way What do you really want your life to be about? EntrepreneurshipLab.net
  • 84. Take some time with these EntrepreneurshipLab.net
  • 85. 2. Let’s talk personality ... EntrepreneurshipLab.net
  • 86. Two Helpful Discovery Tools: Myers-Briggs Test Indicator mbticomplete.com StrengthsFinder strengthsfinder.com EntrepreneurshipLab.net
  • 87. Why do these? - Based on extensive survey and research - Helps you understand yourself better - See yourself from the outside-in - Find what you’re naturally good at - Avoid what you’re ridiculously bad at - Recruit people to compliment you - Find areas of interest that you might not have explored EntrepreneurshipLab.net
  • 88. The step that sometimes gets skipped 3. What expertise and experiences do you have? EntrepreneurshipLab.net
  • 89. List out your resume in detail EntrepreneurshipLab.net
  • 90. All the jobs you’ve had? Career fields, industries? Favorite jobs & why? Biggest impact you made? EntrepreneurshipLab.net
  • 91. 4. What are your passions, hobbies and interests? EntrepreneurshipLab.net
  • 92. The best businesses ... - Champion a CAUSE (a better tomorrow) - Come out of a CRISIS (an experience) - Promote a CORE VALUE (a belief, philosophy) - Offer a CURE (a solution) EntrepreneurshipLab.net
  • 93. So what stirs you up? EntrepreneurshipLab.net
  • 94. Two tips for exploring ... 1. Be careful with stress relief hobbies, a business could ruin it for you 2. You don’t know what you really like until you explore it. Try it out. EntrepreneurshipLab.net
  • 95. Now a big question ... EntrepreneurshipLab.net
  • 96. 5. What would people PAY you to do that you would ENJOY the most? EntrepreneurshipLab.net
  • 97. Make two columns: 1. What you want to do most 2. What you think people would pay for Find the top rated intersections. EntrepreneurshipLab.net
  • 98. Now, let’s bring back your big awesome business ideas ... EntrepreneurshipLab.net
  • 99. The sobering up questions It’s time to get really real EntrepreneurshipLab.net
  • 100. 1. Is it the best way to achieve your goals? EntrepreneurshipLab.net
  • 101. 2. Will you enjoy chasing it? EntrepreneurshipLab.net
  • 102. 3. Can you invest the next 5 years pursuing it? Count the cost EntrepreneurshipLab.net
  • 103. 4. How interested in it are you now? Rate it on a scale from 1 to 10 EntrepreneurshipLab.net
  • 104. 5. Is your S.O. fully on board? EntrepreneurshipLab.net
  • 105. You should know now whether it’s time to ... Take a next step or reassess & start over EntrepreneurshipLab.net
  • 106. Business-Life Alignment - Align with who you are & what you want - Play to your strengths, not weaknesses - Pursue what helps you best achieve your goals & dreams - And will capture your interest & secure your long-term commitment to see it succeed EntrepreneurshipLab.net
  • 107. Q&A + Discussion EntrepreneurshipLab.net
  • 108. Next webinars - The Great Entrepreneurial Experiment - Oct. 10 at 7 p.m. Central - Essential Steps for Bootstrapping Your Biz - Oct. 23 at 7 p.m. Central EntrepreneurshipLab.net
  • 109. In the meantime ... - Complete the member survey - http://entrepreneurshiplab.net/dashboard/ - Post an introduction or question in the forum - http://entrepreneurshiplab.net/forum/ - Invite someone else to join you ... EntrepreneurshipLab.net