ten steps to entrepreneurial success
DESCRIPTION
*Please excuse title, formatting of title page was changed during upload* Powerpoint from talk I gave during Prince Georges Community Colleges "Why Black Businesses Fail" program on April 11, 2013. The first speaker discussed some reasons black businesses fail and I followed with a discussion on some steps they can take to succeed. If you would like the talking points for this lecture you can email me at [email protected]TRANSCRIPT
TEN STEPS TO ENTREPRENEURIAL SUCCESSPresented by Kendrick Staley
Civic Grind, Benefit L.L.C.
WHAT’S MORE IMPORTANT?
Time or Money
1. MASTER YOUR TIMEThe entrepreneurs most valuable asset is their time and must protect it.
As an entrepreneur you don’t have the typical boss standing over your shoulder so if you are not careful time wasters (Facebook, TV, excessive email checking) can negatively impact your productivity.
2. MASTER THE BASICSEvery entrepreneur needs to know a few fundamental concepts in Accounting, Finance, Marketing and Operations .
3. MIND YOUR MONEY A Quick Look At:
Start-Up Funding
Overnight Success
Importance of CashFlow Management
CROWDFUNDING (A NEW ALTERNATIVE)
4. DEVELOP A STRONG WHYThe “Why” you are doing it is more important than the “What”
You will be tested a strong “Why” will help you persevere
Your “Why” provides the passion
5. PLAN YOUR WORK, WORK YOUR PLAN
“IF YOU DON’T KNOW WHERE YOU ARE GOING, ANY ROAD WILL GET YOU THERE”
6. CHOOSE A TARGET MARKET
7. STAY LEAN
8. FORM STRATEGIC ALLIANCES AND PARTNERSHIPS
8. DON’T REINVENT THE WHEEL
9. ADD PROCESSES TO YOUR PASSION