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SBDC Start Up Lab
Transcript of SBDC Start Up Lab
Maricopa Small Business Development Center
The difference between a successful small business and a failed one is...
Creating a Business Plan
This is an important step as it will establish your business structure and legal framework for owning and operating a business.
Forming A Business
Funding a Business
Common Questions When Starting a Business
You could have what seems to be the greatest idea, product or system in the world.
HP Life Training-
A Good Business Plan
How to get started
Who we are
We serve the needs of the small business community through out Maricopa County.
What we do
Provide 1 on 1 business counseling at no cost
Facilitate customized training programs to meet the needs of diverse business owners.
Provide a variety of in-depth tools and researched based business information services.
A Small Business Journey
According to the SBA there are 28 Million small firms accounting for 2 out of every 3 private sector job.
We Can Provide Assistance With
Forming your business.
Understanding your financials.
Writing a business plan.
Getting started with marketing and sales.
Starting a #smallbiz in #phx
Business Plans Help Owners
Communicate their ideas effectively and concisely to their team members, clients, and people providing feedback.
To help think through business processes.
You need a business plan to approach a bank for funding or pitch to investors.
It's a road map, a guide that helps you to develop a plan, envision your goals, and figure out how to get there.
Creating A Business Plan
Start with a Problem - Develop a Business Canvas
There are templates and workbooks available
All business plans and templates are different. Find one that fits your business and goals.
A business plan is never complete and a constant work in progress.
"Can I make money?"
"How am I going to make money?"
To File Your Legal Paperwork For your Business You Can
a) Hire a lawyer or paralegal for a nominal fee to file all your paperwork for you (contact your counselor for 3 referrals).
b) Complete all of your paperwork on your own.
If you don't have a solid, well thought out marketing plan your chances of starting and running a successful business are slim.
The Marketing Plan
If you build it...they will not come.
Determine how you are unique from your competition.
Find Target Audience.
Not all marketing tools work for all small businesses.
A good place to start is by looking at a competitive analysis.
What is your competition doing?
How are they getting their message across?
What types of tools are they using?
Competitive Analysis in the Business Plan
Even though you may think your business concept is the next Facebook, local sensation, or most innovative service it does not mean that you don't have competition.
Where do you start looking for your competition?
If you solve a problem for your target audience, or have what they are looking for, or even provide something they need/want they will start looking with a Google search.
You may have a great idea for a company that provides a service organizing, and you may think no one else has developed a system like you. Potential clients may not pay for a service like this as potential clients in different target markets may use a maid, interior designers, closet organizers, or even a trip to the Container Store.
The Google Search will help you to also see how many people currently have a home/business organization business. Look to see what your competitors are doing.
Look to see what they are doing, how they are doing it, and are you really that different to create a niche for yourself?
To create flyers, brochure, postcard flyers and even logos www.marketsplash.com
For inexpensive printing and templates for various uses www.vistaprint.com
Hubspot.com is an informative resource on internet marketing.
To run email marketing campaigns there is www.mailchimp.com and aweber.com and www.constantcontact.com
For creating and developing your own website www.wordpress.com. Wordpress also has a site dedicated to learning how to use the templates www.wordpress.org as well as Google: Getyourbusinessonline http://www.gybo.com/arizona/
Visit our website www.maricopasbdc.com
and check out our other programs, events, and sign up for our newsletters.
Like us on Facebook
Do you have a rough draft or complete business plan?
Visit our site www.maricopa-sbdc.com
Click 'About' and then 'Meet Our Team.'
Click on a counselors photo to read more about their background and expertise.
Once you have chosen a counselor fill out their 'Request for Counseling Form' or give us a call to set up an appointment.
How do I form a business?
How do I fund a new business?
How do I write a business plan?
How do I begin my marketing and sales?
3 "Easy" Steps
Step by step guide:
Information from the ARS(Arizona Revised Statues)codes from the AZ legislation. http://www.azleg.state.az.us/ArizonaRevisedStatutes.asp?Title=29
The IRS also has some good information. http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Single-Member-Limited-Liability-Companies
Intellectual Property http://www.aztechedge.com/module_2__techproperty.htm
Professional Business Licenses
WWW.SBA.GOV, WWW.AMEXOPEN.COM, WWW.BUZZGATE.COM
Types of Small Business Funding:
Bootstrapping, Debt, Investors
Prior to starting to look for funding you will need a solid business plan and financial projections.
Did we mention free?
Who are these job creators?
1.) File your trade name with the AZ Secretary of State.
2.) File your articles of incorporation with the AZ Corporate Commission
2. B. follow the public notification requirements.
3.) File for an EIN (Employer Identification Number) which is basically your federal tax ID for your business.
According to the Small Business Administration, about 600,000 new businesses are started in the U.S. each year,
99.95 percent of entrepreneurs will not get VC at startup.
99.93 percent of you will never get VC.