Everything You Need to Know About Entrepreneurship The

Everything You Need to Know About Entrepreneurship The Profession of Taking on Good Among Us Rand Walker, Startup Smart TM

Always Have a Business or Job or Both Jobs Owned & Operated Business Sold Greeting Cards – age 9 Grow vegetables when child in school Made and sold Wood Products while in Navy Reminder Service while in College Flipped Victorian Houses in SF 1970’s Built Software for a Startup Worked on our family farm Public Library Nursery/Green House Arcade ride worker Built Giant Slides Plastic Mold Sprayer Owned and operated bookstore – 1990’s Independent Financial Services/100% Owner & Operated Movie Time 2001 -07 Real Estate Agent Home Renovation HR Staffing Consultant Startup Smart LLC BA Business – Data Processing -1975 -78 MBA – Office Automation - 1978 -79 Golf Course Maintenance Coca Cola Bottler Howard Johnsons Bellman Hotel Renovation In Stevedore U. S. Navy – 1969 -75 GE Prime Rating Tymnet/Tymshare British Telecom Sterling Commerce Bank One Macola Software Radio Shack Lilian Verna HR Block and Liberty Tax Service - Local offices Sullivan, Andrews and Taylor - CPA Liberty Tax Service – Head quarters

Objective What is Entrepreneurship? ……and what it is not. Are You an Entrepreneur? What Does an Entrepreneur do Differently from a manager • Actions to Become an Entrepreneur – Starting a Business • •

Entrepreneurship • -ship – indicating a state or condition of a profession, office or position – profession of entrepreneur • Mid Eng. , Old Fr: entreprendre – to undertake • Fr: ‘eur’ – One who • Entre – between, among • Prendre – to take, to take on (bonne - good) • English: Organizes, operates and takes on risk • Rand: One who takes on good among us

Anyone Can be an Entrepreneur Learning, Education Personal Skills & Nature Life Experience Actions You Initiate Success Requires Preparation

Misconceptions It is Glamorous Must Eat, Live, Sleep it

Misconceptions You have Complete Freedom Must have Passion to See it Through

Misconceptions You Need a Good Idea Validate it, Put Passion Behind it

Shower Hood

Could You Make This Work?

Misconceptions If you Love it, Success will Follow Focus on ‘Undertaking’ the Business

Misconceptions You Need to Solve a Problem Enough People Looking for a Solution

Misconceptions Entrepreneurship is for the Young More Likely in Mid-Career The Kauffman Ewing Institute - if > age 45

Misconceptions Growth Solves Any Problem Growth & Margins & Cost of Investment & More

Misconceptions You Need Investors to Scale and be Successful Build, Cash Flow, Reinvest, Repeat

Who I am? Explains My Choices – My Why Risk Taker Risk Minimizer Experienced New to This Independent Structured 30, 000 Feet In the Weeds People Oriented Process Oriented Collaborative Commanding Entrepreneurial Managerial It is a continuum, not one or the other

Lay of Landscape Start-Up Franchise Not in Business Going Concern Risky Less Risk Even Less Risk

Match Up Your Why With Lay of Landscape Start-Up Franchise Not in Business • Highly flexible • Independent • High Risk Taker • Structured • Will follow the Plan • Will accept direction Going Concern • May need income now • Looking for a turnaround • Looking to expand scale • Have Resources to buy the assets • Stay Steady on Course

Step #1 Discover your Passion • Will it be: – Helping parents with their childcare gives you peace – Working with animals brings you joy – Designing clothes delivers satisfaction – Producing beautiful artwork calms you

Step #2 Know Yourself Owning a Business might be a fit if you are: • More Risk Taker than Risk Minimizer • More Experienced than New-to-Business • More Independent than Structured • More Creative Thinker than Detail Oriented

Step #3 Review Your Finances • Do assessment of your personal financial goals • Consider how much risk you want to take using savings and investments • If you are closer to retirement don’t use your retirement funds for the business • Do a review of funds available from family & friends, partners, equity in property, government grant and loan programs, etc.

Step #4 Assess Your Skills and Abilities • Business management skills • People management experience • Understanding of financial reports and cash management • Marketing, including digital media marketing • Sales skills

Idea to Launch Plan Business Advisory Board Idea Validity Assessment Finance & Taxes Marketing Business Plan After the Launch Planning Setup Operations Planning the Launch Fund the Business Structure Action Planning Tools Smart Assessments Resources Smart Ideas Decision Analysis Checklists

Challenge to You Write Your Ideas Down Focus on Them Every Day Pick an Idea, Validate it and “Take it On, Doing Good Among Us”

This Presentation on www. randwalker. com Startup Smart TM Link in the Heading “Entrepreneurship” Put ‘Centura’ in login for all Resources

Questions Your Idea? Your Story!

• Loo • “Gardez l'eau” [gar-day low]. That's French for “watch out for the water”. • Or was it – in Europe - Room 100, 100 = Loo