7 KEY STEPS TO STARTING YOUR BUSINESS
WORKSHOP TITLE: HOW TO START YOUR BUSINESS
HOSTED BY: PHILLIP AQUINO, DAVID ANINGALAN, AND JAZTINE DESIREE
Here are our notes from the conference! Enjoy!
1. BUSINESS PLAN
THERE’S NO RIGHT OR WRONG WAY
SOME KEY PRINCIPLES OF YOUR BUSINESS PLAN
COMPANY DESCRIPTION
MISSION STATEMENT/PURPOSE/COMPETITIVE ADVANTAGES
MARKET
LEADERSHIP TEAM
FUNDING/FINANCIAL PROJECTIONS
2. IDEA
THE GOAL IS TO BE CREATIVE, ORIGINAL, INNOVATIVE, THE NEXT BIGGEST THING, THE NEXT FACEBOOK OR GOOGLE OR AMAZON
THE TRUTH IS….. YOU DON’T NEED TO BE
EXAMPLE OF THE INVENTION OF THE WHEEL
WE’RE NOT TRYING TO RE-INVENT THE WHEEL HERE… JUST TRYING TO PUT IT ON A BETTER, FASTER AND MORE LUXURIOUS VEHICLE
3. PASSION/DRIVE
WHAT MAKES YOU EXCITED AND EAGER TO SHARE WITH THE WORLD
EVALUATION OF YOURSELF, YOUR PERSPECTIVE, DRIVE, SELF-MOTIVATION
4. MONEY/ FUNDING
CALCULATE START UP COSTS (BUILDING COSTS, WEBSITE MAINTENANCE, INVESTMENTS, PRODUCTS, MATERIALS, SUBSCRIPTIONS…. IT ALL DEPENDS WHAT LINE OF BUSINESS YOU GET YOURSELF IN)
FINANCIAL PROJECTIONS
SEEK FUNDING OPTIONS (KICKSTARTER, YOUR PARENTS, GRANDPARENTS ETC.)
5. MARKET RESEARCH
FIGURE OUT THE INS AND OUTS OF THE INDUSTRY YOU WANT TO INVOLVE YOUR BUSINESS IN
STRENGTHS/WEAKNESSES
SWOT ANALYSIS (STRENGTHS, WEAKNESS, OPPORTUNITIES AND THREATS)
6. LOCATION
WHAT SUITS YOUR BUSINESS BETTER
ONLINE VS. BRICK AND MORTAR (EXAMPLES)
7. NAME
REPRESENT YOURSELF AND/OR YOUR BUSINESS
NOT TOO CRAZY, NOT TOO FAR FETCHED FROM YOUR ORIGINAL IDEA
BE CREATIVE
Hope this helps you guys! Have a great day! -Phillip