The goal is to clarify for any employee who wants to become an entrepreneur is this the right path to take? Do I understand what it takes?

1. Moving From Employee to
Entrepreneur
MarketingStrategy | Branding| Social MediaMarketing
FacilitatingBrand Success
416.356.8173 | jravoth@mac.com | www.ravoth.com
linkedin/ravoth | twitter/ravoth | posekim/blogspot.ca

2. Short Bio…

3. Moving From
Employee to
Entrepreneur
Determine if you are
interested and want
to move forward
with this new
direction
Part 1:

4. Objectives
To understand what it means to become a
consultant and an entrepreneur
Learn if you have the right mindset and risk
tolerance
To determine if you want to move forward
with this new direction

5. Talking Points
Determine if you are ready to be self employed
What does being self-employed mean?
Success factors to becoming an entrepreneur
Importance of networking

6. What is an entrepreneur?
https://youtu.be/mWBif5GTzNs

7. Are You Ready to be Self
Employed?
First Step - Assessment
What motivations do you think
potential entrepreneurs have?

8. Are You Ready to be Self
Employed?
Key Motivators
Achievement
Influence
Autonomy

9. Are You Ready to be Self
Employed?
First Step -
Assessment
What attributes do you
think potential
entrepreneurs have?

10. Key Attributes
 Perseverance
 Self Assurance
 Creativity
 Tolerance for Ambiguity
 Attitude Toward Failure
 Action Orientated
Are You Ready to be Self
Employed?

11. Are You Ready to be Self
Employed?
Personal assessments can help articulate your
strengths and readiness for self employment in
Canada

12. Are You Ready to be Self
Employed?
Entrepreneurial Self Assessment
http://bit.ly/1OM114m

13. Are You Ready to be Self
Employed?
Sample Questions
I live to give myself challenges when I take on a
new project?
I am fairly at ease in difficult situations?
Where others see problems, I see possibilities?
I always worry about what others will think before
doing something important?
I am fairly curious and I am continually in search
of discovery?

14. What Does Being Self Employed
Mean?
Put your own ideas to work
Being your own boss can allow you the freedom and
independence to use your own ideas.
As an entrepreneur, your time and energy can be spent
creatively by putting these ideas to work for you and the
future success of your business.

15. What Does Being Self Employed
Mean?
Decide what type of business you want
Your business should complement your experience, interest
and knowledge.
Before you put too much work into planning your business,
make sure that the industry you choose is the right one for
you.
You may want to consider what hobbies or interests you have,
as well as what experience and skills you could apply to a
new venture.

16. What Does Being Self Employed
Mean?
Make the decisions for your business
Starting your own business can be risky; however, desire,
persistence, and innovative thinking can work in your favour.
Believing in yourself and basing your decisions on knowledge
and experience can lead to the success of your business.
However, knowing the limits of your own abilities and not
being afraid to ask for help from others will help you make
informed business decisions.

17. What Does Being Self Employed
Mean?
Choose the location for your business
You can choose a location for your business that suits your
needs, whether that means working from home, working
close to home, or taking the opportunity to travel and see
different places.
You might choose a trendy downtown office, or a place
outside the city to avoid traffic or a long commute.
While you have a lot of flexibility in choosing a location, you
should take into account access to customers, employees

18. What Does Being Self Employed
Mean?
Have the potential to earn more
As an entrepreneur, you have the luxury of working your own
hours and stretching your earning potential.
Usually, this success comes with real hard work and long
hours. If your business is successful, you could potentially
make more money than you would working as an employee.
However, the downside is that there is no guaranteed
paycheque and your hard work can cut into time for personal
and family obligations.

19. What Does Being Self Employed
Mean?
Have the freedom to work less
While some people go into business to make more money,
some people go into business for themselves in order to work
less.
However, in general, being self-employed gives you more
flexibility to set your own schedule.

20. What Does Being Self Employed
Mean?
Be involved in the total operation of your
business
Running your own business can provide you with a
tremendous source of satisfaction and pride. You will be able
to see your business grow from the ground up.
However, you will also be responsible for the initial capital that
will be required for your business and the costs involved with
the day-to-day operations.
There are tasks involved that you may not be trained for,
such as purchasing, inventory management, or accounting. It
never hurts to get professional help with the running of your
business.
Focus on the areas where you can provide the most value.

21. What Does Being Self Employed
Mean?
Turn the business into a family asset
Owning your own business sometimes means providing your
children and other family members with a place to work, and
a way to finance their future.
It is an opportunity to teach them valuable skills and spend
more time together.
Depending on your children's career aspirations, you may be
able to pass the business on to them when you are ready to
retire.

22. What Does Being Self Employed
Mean?
 Income level
 Health and Stamina
!Turn downs
 Constant networking
 Marketing
 Staying relevant/current

23. What Does Being Self Employed
Mean?
Source: Statistics Canada, Key Small Business Statistics August 2013

24. What Does Being Self Employed
Mean?

25. What Does Being Self Employed
Mean?
Developing Your Idea
1. Is your idea truly original?
Conducting market research
Learn more about market research, how it can improve your business
decisions, and how to conduct a market research campaign.

26. What Does Being Self Employed
Mean?
Developing Your Idea
2. Will people be willing to pay for your product or service?
 Determine the target market for your offering
 How much the target market would be willing to pay for your product or service?
 Alternate business model

27. What Does Being Self Employed
Mean?
Developing Your Idea
3. Who is your customer?
 Age, usually given in a range (20-35 years)
 Sex
 Marital status
 Location of household
 Family size and description

28. What Does Being Self Employed
Mean?
Developing Your Idea
3. Will your product or service be able to compete with
those of existing companies?
4. How will you distribute your product or service?
5. How will you promote your product or service?

29. What Does Being Self Employed
Mean?
Developing Your Idea
3. Will your product or service be able to compete with
those of existing companies?
4. How will you distribute your product or service?
5. How will you promote your product or service?

30. What Does Being Self Employed
Mean?
Developing Your Idea Continued:
1. Do you need intellectual property protection for your
idea or invention?
2. Are there any government restrictions or obligations
that could limit your idea?
3. What resources do you require to get your business
off the ground?
4. Where can you go for help to evaluate and to clarify
your idea?

31. What Does Being Self Employed
Mean?
Consultant
Define Scope
Contract
Bill for Service
Measured by Results
In Control of Work

32. What Does Being Self Employed
Mean?
Contract Employee
Contract
Under Supervision
On Payroll
Limited/Renewal

33. What Does Being Self Employed
Mean?
The Consulting Process
Building and Managing Relationships
Obtaining the Engagement
Planning and Organizing the Engagement
Delivering the Engagement
Completing
Engagement/Administration/Records
Management

34. What Does Being Self Employed
Mean?

35. Success Factors to Becoming an
Entrepreneur
Know your focus. What are your ideas?
! Build a business and marketing plan
! Take into account customer needs,
competition, pricing and promotional
strategies
! Passion, persistence, and innovative thinking
! Setting achievable and realistic goals
! Have a good working knowledge of
business law or hire a lawyer
! Understand your business finances

36. How to Start Your Own Business
http://bit.ly/2uYMAJO

37. How to Start Your Own
Business
http://bit.ly/2u4jueH

38. How to Start Your Own
Business
Define a product or service as a “business
value proposition”
Define Your Niche
 What is the brand all about?
What You Do
How You Do It
Who You Are

39. https://www.youtube.com/watch?v=k5016fh7TgQ

40. A BRAND IS…..
What people collectively SAY,FEEL& THINK about
your Business

41. Your most important professional asset!

43. New Imperative!
A Powerful strategically built, focused and
compelling Business Brand

44. Importance of Networking
Types of Networks
Competitors
Partners
Advisors
Clients
Influential leaders
Professional associations

45. Importance of Networking
Market your product/service (new and existing sales)
Find products and services
Help you learn what works
Access to different networks
Enhance creativity
Gain referrals
Seek and say “thank you” for referral business

46. Your Consulting Vision
3 Years From Now:
Consultant of Choice
in...
Strategic Partnership
Work/Life Balance
Professional Relevance
Size of Client Base
Income Level

47. Research Resources
INDUSTRY INSIGHT
Find the latest trends and issues
Statistics Canada www.statcan.gc.ca
Industry Canada www.ic.gc.ca
Industry Associations
Industry magazines and publications
Buyer guides
Consulting firms
Networking!

48. GLOBE INVESTOR
A gateway to investor information from the Globe and Mail. Due to
copyright restrictions please go to the Globe and Mail site to access
this site.
INDUSTRY CANADA
http://www.ic.gc.ca/epic/site/ic1.nsf/en/home
A federal government site that provides information on business
sectors, company profiles, products and industries.
LINKEDIN
www.linkedin.com
A great resource for bios and company information.
SCOTTS DIRECTORY
http://www.scottsinfo.com/scottshome/default.aspx
This directory provides information on public and private
companies. There is a 14 free day trial on the site. Many public
libraries now provide free online access to this directory
SEDAR
http://www.sedar.com/search/search_form_pc_en.htm
This gives you online access to Canadian public company filings
such as annual information forms, annual reports, interim financial
statements and proxy circulars.
STATISTICS CANADA
http://www.statcan.gc.ca/
A good resource for online statistics, publications, statistical tables
and analysis.

49. GENERAL COMPANY INFORMATION
General Information
• Company website
• Google www.google.ca
news alerts
videos
groups
blogs
Images
• Bing www.bing.com
• Yahoo www.yahoo.ca
• LinkedIn www.linkedin.com

50. DETAILED COMPANY INFORMATION
Detailed Information
• Google Finance www.google.ca/finance
• Yahoo Finance http://finance.yahoo.com/
• Globe and Mail Investor http://www.theglobeandmail.com/globe-investor/
• Canada News Wire http://cnw.en.mediaroom.com/rss
• Industry Canada http://www.ic.gc.ca/eic/site/icgc.nsf/eng/home
• Sedar http://www.sedar.com/
• Glassdoor www.glassdoor.com
• Canadian Trade Index http://www.ctidirectory.com/
• Scott’s Directory http://www.scottsinfo.com/
• Frasers Directory www.frasers.com
• Contact Canada http://www.contactcanada.com/
• Canadian Biotech http://www.biotech.ca
• Canadian Venture Capital www.cvca.ca
• Public Libraries

51. LIBRARY RESOURCES
• News Sources
Canadian Business and Current Affairs (CBCA)
Canadian Periodical Index (CPI)
News and Magazine Indexes
EBSCO
• Associations Directory (associations linked to the industry/company)
• Mergent (global financial information on public companies)
• Scott’s Directories (http://www.torontopubliclibrary.ca/)

52. CANADIAN TRADE INDEX
http://www.ctidirectory.com/
This site provides information on manufacturing companies.
CANADIAN VENTURE CAPITAL AND EQUITY ASSOCIATON
http://www.cvca.ca/membership/directory/
This is the only public domain site that provides information on private equity firms.
CANBIOTECH
http://www.canbiotech.com/
This is a comprehensive selection of research and business development resources in the biotech and
pharma industries.
CONTACT CANADA
http://www.contactcanada.com/products.html#online
This provides excellent company information in the life sciences field.
CORPORATE KNIGHTS
Corporate Knights focuses on corporate responsibility. It publishes the annual Best 50 Corporate
Citizens in Canada as a Globe and Mail insert, and the annual Global 100 Most Sustainable
Corporations in the World. Due to copyright restrictions please go to the Globe and Mail site to
access this site.
Business Directories

53. COMPANY INFORMATION
This is the most challenging information to find because
private companies are not required to report publicly.
• D&B Hoovers
• Google/blog the company
• Company website
• LinkedIn
• Online news sources (CBCA, CPI, etc.)
• Canadian Trade Index
• Scott’s Directories
• Industry Canada
• Industry Associations
• Buyers Guides

54. Entrepreneurial Series
Moving From
Employee to
Entrepreneur
Marketing Yourself
as a Consultant
Running your own
business
Determine if you are
interested and want to
move forward with this
new direction
Developing marketing
and branding ideas of
how to take their
expertise and start
developing a business
Understand the
foundational elements of
running their own
business
Today
September 7th, 2017
6.00PM-8:00PM
October 5th, 2017
6.00PM-8:00PM