Have you ever seen a chicken hatch? Presented by North Salem Partners

We are experienced Chicken Hatchers! We have been there and done that…. 10/20/2015(c) 2015 North Salem Partners LLC 2 Nina Mattikow – Seasoned business creator, award winning product developer, innovative packager and strategic marketing and sales expert Bob Kotch – Business process expert, bringing experience as Strategy executive, CFO and CIO to numerous clients, including companies ranging from startups to Fortune 50 companies

We divide this workshop into three sections. ……..  Nina will cover what needs to be done to determine if you have a viable idea. This must be done to insure that you have the foundation to create a Business Plan. You will learn how to do a competitive analysis, feasibility study and identify the target customer.  Bob will give you a clear, concise overview of a business plan’s contents of and why it is so critical to have a really well thought out plan. You will learn how it becomes the roadmap for your business.  The third section is all about you. Your concerns. Your questions. Your particular issues.  PLEASE….take notes. NO question is foolish. 10/20/2015(c) 2015 North Salem Partners LLC 3

Starting a new business is a bit like hatching a chicken…  You FIRST have to clearly articulate your idea…….whether a product, a service, a retail outlet or an internet based business  Is your idea in need of protection and if so, how do you do that?  The next step is a reality check! Is there anything like it out there & what is your competitive advantage? Do you have the skills or experience you will need?  Do you know how to do a feasibility study? 10/20/2015(c) 2015 North Salem Partners LLC 4

What is a competitive analysis and feasibility study? Competitive Analysis  A detailed look at the competition…..  Includes web search, social media search, physical store search if applicable  This is a first view of whether your dream product/service has a place in the marketplace  Do I have a competitive advantage ? Feasibility Study  Who is my customer?  How do I find him/her?  Can I produce my product/service at a price that will give me the margins I will need ?  This is a first view of whether my business dream can be profitably developed 10/20/ (c) 2015 North Salem Partners LLC

Why is the Business Plan the most critical document you must produce ?  It represents the plan for the business  It is the baseline to track and measure performance  It represents the process for evaluating results and making adjustments – at both a tactical and strategic level  It is the required document for obtaining financing – both from the owner and investor perspective 10/20/2015(c) 2015 North Salem Partners LLC 6

What is a business plan?  Executive Summary  Vision, mission and goals  Business environment and competitive analysis  Core competencies and key success factors  Products and services  Market strategy and marketing plan; sales strategy and sales plan  Operations and technology plans – including initial technology choices  Human resources plan  Ownership and organization  Financing plan  Financial plan and expectations  Risk analysis and contingency plan 10/20/ (c) 2015 North Salem Partners LLC

Selecting Your Advisors  Everyone needs help and advice, but selecting the wrong advisor is the most costly mistake you can make!  Search for advisor candidates, whether paid or free, who have had successful, hands-on experience,,,,not business philosophers  Ask questions, understand the qualifications, mode of operation, experience,,,and be sure it fits your needs  Check references and be sure you have a comfort level  Execute a clear engagement agreement, defining services, terms and cost 10/20/2015(c) 2015 North Salem Partners LLC 8

Now….let’s talk about YOU !  Let’s hear who you are….  What is your background and experience ?  What is your dream ?  And how can we help ! 10/20/2015(c) 2015 North Salem Partners LLC 9

We hope our workshop has been helpful and we’d love to hear from you Thank you for joining us……. (c) 2015 North Salem Partners LLC 10 10/20/2015