START UP
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0:60 Start with an Idea Is there something you are driven to do for the sheer enjoyment of it? Is there a franchise or an existing business you would like to buy? Are you a laid off employee consultancy? Do you have an original idea that might be the next big thing? Make sure you have a passion for it, because the majority of your time will be to make it happen. 0:52 Choose Your Advisory Board The group has no financial interest in your firm and are outside advisors who share their knowledge to help you be more competitive, think strategically and offer specific advice in key skill areas. They can help you draft your business plan, and be a touch-point during all phases of the start and growth of your business. 0:45 Write Your Business Plan Use SCORE’s Business Plan templates to create a strategy for your business success. Be careful to be detailed – this plan will be your go-to document in presenting to financial establishments, clients, and business to business marketing. Don’t forget that if you get stuck you can go to your board of experts to help you iron out the details. Do your research to present detailed facts and figures. 0:36 Legal Coverage Read "When to Incorporate...Timing Matters " for advice on incorporating or creating an LLC. You might want the advice of an attorney to draw up these papers, as your choice will determine how the finances are structured. 0:15 Get Funding When looking for funding, you should seek local or federal government economic development offices, as many have funding-assistance programs for qualified small businesses. Don’t inflate the number of jobs you think you can generate in hopes of getting a larger grant. If that fails, other ways to obtain funding are with your own, or a family member’s, finances. Also try angel investors, or small community banks. Make sure your pitch is perfected!
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Transcript of START UP
0:60 Start with an IdeaIs there something you are driven to do for the sheer enjoyment of it? Is there a franchise or an existing business you would like to buy? Are you a laid off employee consultancy? Do you have an original idea that might be the next big thing? Make sure you have a passion for it, because the majority of your time will be to make it happen.
0:52 Choose Your Advisory Board The group has no financial interest in your firm and are outside advisors who share their knowledge to help you be more competitive, think strategically and offer specific advice in key skill areas. They can help you draft your business plan, and be a touch-point during all phases of the start and growth of your business.
0:45 Write Your Business PlanUse SCORE’s Business Plan templates to create a strategy for your business success. Be careful to be detailed – this plan will be your go-to document in presenting to financial establishments, clients, and business to business marketing. Don’t forget that if you get stuck you can go to your board of experts to help you iron out the details. Do your research to present detailed facts and figures.
0:36 Legal CoverageRead "When to Incorporate...Timing Matters" for advice on incorporating or creating an LLC. You might want the advice of an attorney to draw up these papers, as your choice will determine how the finances are structured.
0:15 Get FundingWhen looking for funding, you should seek local or federal government economic development offices, as many have funding-assistance programs for qualified small businesses. Don’t inflate the number of jobs you think you can generate in hopes of getting a larger grant. If that fails, other ways to obtain funding are with your own, or a family member’s, finances. Also try angel investors, or small community banks. Make sure your pitch is perfected!
0:09 Hire TalentKeep your staff to a trusted minimum. Read this article, "Hire and Keep Good People".
0:03 Promote/Open for BusinessUse social media networks such as Twitter, Facebook, and LinkedIn. Create pages, join groups and incorporate your website links. Get listed in your local Chamber of Commerce and print flyers. Give opening day discounts.
