birthing your business - entrepreneurship empowerment seminar

(c) Miguel Graham 2013 - All rights reserved - [email protected]

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BIRTHING YOUR BUSINESS

Entrepreneurial Empowerment Seminar

October 20, 2013

Miguel Graham, Empowerment CoachEmail: [email protected]: 876-471-2067

Rock of Hope, International Ministries 30th Anniversary Convention


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Success comes when you change wishing into doing!


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Success is a decision… followed by massive actions-Alvin Day


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Are their dreams and purpose inside of you that will be taken to the grave because you lack the ability to take action and discipline?


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To be successful in achieving your purpose/ dream you will need:CommitmentAccountabilityfollow-through

If you do not have the discipline to do it get the services of an empowerment coach.


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You must BelieveBelieve Like LeadersBehave Like LeadersBecome Great LeadersBuild The Business as Leaders


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You must first discover your purpose or dream then believe it.

Because you are as strong as your belief system.

What God says is for you, it is for you.

You cannot write the plan you just fit in it and watch God work. Like a potter molds the clay.


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Who Am I, Why Am I Here and Where Am I Going?

Have you ever asked yourself these questions?


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Connection with purpose will bring conception

Am I feeling contracts?Do I have fire in my belly?Which stage are you?


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What is inside of you?

What purpose, passion or dreams did God wire you with?How do you discover it?When your find your purpose what's next?


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Talk to your selfAsk yourself:What gifts and talents are

naturally in me?What skill am I competent in?What is my temperament?What are my strength and

weaknesses?


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What do you need for each phase of Birthing?ConceptionContracts of Labour signsPushing stageNew bornEarly daysHealth GrowthMatureSuccession


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What did you give birth to?

Baby or Dwarf?


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OpportunitiesWhat opportunities exist in a bad

economy?


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BUSINESS DEVELOPMENT

The Techniques and Skills needed to effectively and efficiently operate your business


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Choosing Your Business

Types of businesses What are you good at (skills & talents), what is in demand that will sell

Legal pointsFind out the legal ways of operating the business you are getting into.

For e.g. the parish laws; KSAC etc

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Keys to Success Identifying your mission“A mission describes the organization's basic function in society, in terms of

the products and services it produces for its customers”.

Creating a Mission StatementA mission statement is a short written statement for the purpose of a

company or organization .Ideally, a mission statement guides the

actions of the organization

Setting measurable goals(being realistic in projections for e.g. buying $50,000 goods and

projecting sales for $1,000,000)

Stages of growth. Have plans put in place for future growth such as; financial, employees,

products etc (c) Miguel Graham 2013 - All rights reserved - [email protected]


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Market Research

The benefits of market testing To test multiple marketing scenarios and select the most

promising for expansion. Every dollar you spend in market testing will save you many dollars of losses later on in the marketing process.

finding your target market (who are you selling to or providing service for)

adjusting to market changes (the demand increases or decrease may caused by climate, inflation)


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Legal Requirements and Resources

Types of legal requirements

Legal resources- It is good to know a lawyers or how to get one

Regulations- Road regulations, building regulations etc

Licenses and permits- Register business, food handlers permits, barber/ hairdresser license

Local requirements-Building codes etc


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Your Business Structure

Choosing a structural statusOwn, rent or leasing

Plant and equipment needsType of equipments or machine needed to operate business

Describing your inventory (what you need for the business success, having the right amount

in stock)

Your management structureCompetent mangers and leadership styles

Staffing considerations (qualified, experience, customer friendly)


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Basics of a Business Plan

Business informationyour industryyour financial planbackground researchgetting startedresearching costs and pricing (of

other businesses in the same industry to guide on how you will price your products)


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Writing a Business Plan

Introduction and Overview:Mission Statement, Objectives, keys to success, products

and services, and Target Customers etc.

The Industry section:Market Analysis, Target Market, Competitive

Analysis, Strategy & Implementation (Sales & Marketing)

Financials: Where the business is at present and future projections (cash

flow, profit & loss, balance sheet etc)


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Marketing that Works Your Marketing Planadvertising campaigns- radio (TBC etc), TV, print, internet, word of mouth (friends, family, drinking

partners etc)

public relations campaignsFor public awareness, who are you trying to reach

marketing resources- business cards, fliers, brochures etc

promotions and publicity-Sales, customer appreciation day

finding the right strategy for your business.What best works for your type of business


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Preparing a Budget Estimating costs and expenses;

Forecasting sales volume; Seasonality, demands etc

Pricing strategies; To what goods are being sold for in the market

Making financial projections;How much will be spent on business v.s. how much will bemade

Performance measures How is my business performing, evaluate


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Financing Your Business

Finding the right financing;

types of financing such as; Should I finance my business myself with my

savings and investments or should I borrow from banks and other lending

institutions in order to avoid undercapitalization.

SavingsFamily

Loans


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Building a Team

Hiring the right peopleTrained, professional, qualified

Internal customer service;suppliers, distributors and experts

Referrals and recommendations. When you offer good services your clients can give you referrals or

recommend you to other


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Business Connections

Building and maintaining your network A system of people, businesses or things-to build or maintain a informal

relationship with people

Successful networking Names, contact information (telephone #, address, email address)

Developing community contacts People or business in your geographical area


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Keeping Business Records

The importance of keeping records; In the event that you need evidence in a court of law, for claims

bookkeeping basics; (journals, receipt books etc)

computerized accounting;( such as quick books offered by our BSC)

record keeping for tax purposes

line item descriptions; (goods sold cost etc)

income statements

financial statements ( balance sheet, profit & loss statements etc)


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Retirement Plan

It is important that we save or invest for

the future while we are still able to work

Gain financial knowledgeCreate an investment portfolioSave, Save, save!


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Thank you for Participating.

Questions?