Presentation re: being an entrepreneur for Career Day at Johnston High School.

1. Career Day Red Lantern Group, LLC Jean M. Baker, J.D. November 19, 2009

2. Introduction Who I am What I do Where I work When I work How I work Why I chose to be an entrepreneur How do you know if you are an entrepreneur?

3. You Might Be an Entrepreneur if. . . You break out in hives at the thought of someone else controlling your time, money and work assignments.

4. You Might Be an Entrepreneur if. . . You think of big corporate offices as human filing cabinets. See the resemblance?

5. You Might Be an Entrepreneur if. . . How the heck did we get up here?!! Your leadership qualities would enable you to successfully herd cats!

6. You Might Be an Entrepreneur if. . . Your self-confidence level would make Donald Trump look like “poor, stuttering Professor Quirrell.”

7. You Might Be an Entrepreneur if. . . When someone gave you a Rubik’s cube, you didn’t put it down until you had solved it – forgoing food, sleep and hanging out with friends.

8. You Might Be an Entrepreneur if. . . You do not understand the phrases, “let’s just play for fun,” or “let’s not keep score.” You always want to win, even if it’s just a game of Candyland.

9. You Might Be an Entrepreneur if. . . People call you MacGyver, because of your resourcefulness and creativity.

10. Educational Requirements Depends! Professional business (e.g., law firm, psychology firm, etc.) requires licensing Consulting may not require licensing or particular degrees, but may be easier to get work if you have these “Been there done that” Other businesses may not require any type of degree

11. Advantages and Disadvantages You get to make all the decisions You decide when, where and how you work - flexibility You control how much money you make You have to make all the decisions No one there to tell you what to do; requires self-discipline You can’t “depend on” a salary, benefits, etc.

12. Social Media –Beyond Facebook Facebook Fan pages Careful what you post! LinkedIn Twitter Blogs Please – no profanity! Web-site

13. What Does it Take? Do something you are passionate about Know your preferred work style, strengths and weaknesses Be disciplined. Be focused. Do quality work. Appearance, presentation Understand that it can take time to build a successful business Use your resources Continue to learn Ask for help!

14. Legal Issues LLC, S-Corp, C-Corp, sole practitioner Register name of business (Not the same as obtaining a domain name for your web-site) Tax ID number Separate business bank account Hire a competent attorney to set up your business!

15. Resources Small Business Association (“SBA”) SCORE Association of Business and Industry Industry Specific Associations Other (e.g., NAWBO, Chambers of Commerce, etc.)

16. Obstacles and “Failure” Yes, there will be obstacles Yes, you will sometimes fail Yes, you will sometimes need to get a “job” to stay afloat That’s FINE! Just keep trying, keep working and keep getting up

17. Your Business is Your Responsibility! http://www.212movie.com/

18. Questions/Comments Jean M. Baker, J.D. President Red Lantern Group, LLC 515.327.5966 www.redlanternllc.com jbaker@redlanternllc.com