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Starting A Small Business Stop Over-Planning Just Do It! Tim Rudkins 647-221-9706.

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Presentation on theme: "Starting A Small Business Stop Over-Planning Just Do It! Tim Rudkins 647-221-9706."— Presentation transcript:

1 Starting A Small Business Stop Over-Planning Just Do It! Tim Rudkins 647-221-9706

2 Presentation Overview My background Reality of small business start-ups Weakness of standard business plans How it's really done Q & A

3 My Background PMP, MBA, PMI Education Provider Instructor in Management/Entrepreneurship 7+ businesses started and run 1,000's of small businesses assisted

4 Small Biz Start-Up Reality Most fail or never get off ground Based on owner's skill/background Lack of resources common Little business training - good thing!

5 Why Do They Push Biz Plans? “Understand the market” “Fail to plan, plan to fail” mentality Provides assurance to backers/bankers “Gets you organized/scheduled”

6 Biz Plans vs Reality! “Understand the market” - Market changes constantly/before plan done! “Fail to plan, plan to fail” mentality - Plan is often useless after day 1! Provides assurance to backers/bankers - They won't give you money anyway! Gets you organized/scheduled - 1 mo. tasks = 1 hr./1 hr. = 6 weeks

7 How It's Really Done 1. Business Model  Personal/Biz Goals  Value Proposition  Service/Product Offer  Target Market  Marketing Approaches  Risks (SWOT/List)  Finances (Revenues/Costs/Cash Flow) 2. Task/To Do List (Daily, Weekly, Monthly)

8 Personal/Biz Goals Rudkins Small Business Solutions Ongoing revenue earner - big not needed Interesting intellectually/lots of learning Solo managing and running Flexible time and involvement 1 BIZ MODEL

9 Value Proposition Rudkins Small Business Solutions Offer people the opportunity to Achieve their dream Gain independence/freedom Save money/avoid mistakes Hook/Bonus 0 Risk! - Only pay if you come back. 1 BIZ MODEL

10 Service/Product Offering Rudkins Small Business Solutions Start-Up Coaching - Get it going NOW! Biz improvement coaching Project systems implementation/training 1 BIZ MODEL

11 Target Market Rudkins Small Business Solutions People struggling to get business going Career changers/Laid off People working far too hard Individuals with a dream! 1 BIZ MODEL

12 Marketing Approach Rudkins Small Business Solutions Blogs/Articles (Website Site,Wave,Villager) Public Speaking (PMI, Enterprise Toronto) Networking (MeetUps, LinkedIn, Shows) Partnering (Coach Associations,Vendors Accelerators, Biz Groups) Ads (Craigslist, Kijiji, LinkedIn) Jobs (Colleges, Job Sites) 1 BIZ MODEL

13 Risks Rudkins Small Business Solutions Small businesses unwilling to pay Lack of contacts/reputation in the market Lack of coaching experience Cash slow/not coming in! Wife leaves me if I start another business! 1 BIZ MODEL

14 Financial Rudkins Small Business Solutions Incremental, keep costs low $20K, $30K, $50K Part time jobs for supplement 1 BIZ MODEL

15 Task List Rudkins Small Business Solutions Daily on a sticky on my computer Weekly/Monthly on Google Calendar TASK LIST

16 To Summarize!  Do a business model - NOT some big plan! Does it make sense? Do others like it? Work it until it makes sense!  Create a task list and get going  Be ready to change plans/direction daily!

17 Any Questions?

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