Using Robert Kioyaski's Cash Flow Quadrant and Michael Gerber's the E-Myth Revisited, this presentation explains why the vision make goals and actions steps. This will be presented at the Universal Muslim Business Association networking event on 9/26/2013
2. AGENDA
Nicole Newman, Bio
Vision
Goals
Accountability
Plan
Build the Foundation
Minority Business Issues
Next steps
3. NICOLE NEWMAN
Born in Washington DC
Graduate of HS of Engineering &
Science
MBA from the University of Maryland
15 years in Corporate America
7 years in business at Newman
Networks
Connie Grier
She is always one step ahead of the
"expected" and formulates the "inspired".
She takes the time to explain everything,
and always turns the query back to YOU
and YOUR business. She is a wealth of
knowledge, a sharp and strategic planner,
and a coach that coaches respectfully! I
5. GOALS
Business is a three legged stool consisting of
the Product, Marketing and Financing
They say “Failing to plan is planning to Fail”
6. GOALS PART 2
What is the annual revenue goal?
What is the profit margin on sales?
What is the Exit Strategy?
Define the Marketing Plan
Define the Financing Strategy
Loans/Lines of Credit
Angel Investors
Equity Positions
J. Paul Getty said "I would rather earn 1% of other
people's effort than 100% of my own effort"
7. ACCOUNTABILITY
You are your own boss.
Who/what holds you accountable?
Religion – They say “Believe in a power greater than
you”
Family
Friends - “You are the average of the five people you
spend the most time with.”― Jim Rohn
Mentors/Coach
Books
Getting to Yes
E-Myth Revisited by Michael Gerber
The Tipping Point by Malcolm Gladwell
8. PLAN
a) Learn your craft
b) Make a process
c) Teach someone
else
Business is OVERWHELMING
9. THE FOUNDATION
Legal Structure
LLC
S-Corporation
C-Corporation
Accounting System tied to Business Bank Account
Quickbooks
Freshbooks
Outright
Product/Service
4P’s – Product, Placement, Positioning, Price
10. MINORITY BUSINESS ISSUES
Lack of Vision
Self-Esteem
Lack of Cooperation
Lack of Support
Using our Strength
Respect of Employees. In most businesses,
employees are the profit margin
Respect of Women
11. NEXT STEPS
Network
Universal Muslim Business Association
Newman Networks
Hire a coach –
Urban League Entrepreneurship Center
The Enterprise Center
Revisit/Update/Build Business Plans
Invest in Accounting System
Build a Team/Respect your Team
Hold Yourself Accountable!!!