What is the purpose of a business?. What does this hammer do? What is the ultimate purpose of this hammer?

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Presentation transcript:

What is the purpose of a business?

What does this hammer do? What is the ultimate purpose of this hammer?

What does this business do? What is the ultimate purpose of this business? XYZ Corp

Bold Peter Diamandis

Startup! Successful Business Startup Strategies

The Process Find a good idea Find some good people Develop a business model Find some money Get it going Keep it going

Find a good idea ?

Find good people Owners or workers? –Friends –Family –Strangers –Ownership issues Support people? –Attorney –Accountant –Business Advisors

Business model Where is your product in the market space? What is your value proposition? Who are your competitors? How will you sell it? Who will buy and why? How will you find customers? How will you price the product? How will you produce the product? How will you make money?

Find some money Your savings Family Friends Bank loans Private investors Venture capital ?

Get it going Incorporate –C Corporation –S Corporation –Limited Liability Company Create your corporate identity system –Company logo –Business cards –Letterhead –Web site design Open the shop

Get it going Get your first sale Learn Get your second sale Learn Get your third sale Adjust Get your fourth sale Learn Get your fifth sale Adjust Repeat, repeat, repeat, repeat, repeat, repeat ….

Keep it going Fuel growth Find more good people Correct your mistakes Manage burnout stress Get it so it flies on Autopilot Buy a big boat and sail it around the Caribbean

Food The Internet Manufacturing Electronics Transportation Consumer products Games and toys Software Financial services Sports Beauty products Retail Clothing Entertainment Consulting services Real estate Gardening Health care Product ideas ? ? ?