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Starting Your Own Business

Starting Your Own Business. TAP Presentation. Your Choices After Service. Find a Job Same expertise as in service New business to be learned Go I nto Y our O wn B usiness Start it Buy it Franchise it. Your Own Business. Start It Same knowledge as in service?

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Starting Your Own Business

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  1. Starting Your Own Business TAP Presentation

  2. Your Choices After Service Find a Job • Same expertise as in service • New business to be learned Go Into Your Own Business • Start it • Buy it • Franchise it

  3. Your Own Business Start It • Same knowledge as in service? • New business to be learned – Know why Buy It • Start out with a History in business • Use a broker • Simpler to finance – “skin in the game” Franchise It • Start with corporate history • Financing can be tricky

  4. “Practice” vs. “Business” Although many businesses start out as a “practice”, know which one you want and which one your organization is.

  5. When are you in “Business” • Product • Manufacturing System • Delivery System • Customers • Revenue (NOT borrowed $)

  6. Financing • Three F’s (Family, Friends, Fools) • “Angel” Investors • Banks and other Lenders • SBA – Patriot Express

  7. Getting Started • Concept • Business Plan • Financial Plan • Know the Laws – Federal + State • Incorporate • Keep expenses MINIMAL

  8. Getting Started Sign up with SCORE via Veteran Fast Launch Initiative

  9. Our Impact • 2010 Gallup Survey Data: • SCORE Volunteers donated 1,251,331 hours of their time. • SCORE Volunteers mentored and trained 590,550 aspiring and existing small business owners. • SCORE clients started 58,637 businesses. 10

  10. Our Impact • 2010 Gallup Survey Data: • SCORE clients created 71,449 jobs. • SCORE helped 17,629 businesses save jobs. • 90% of SCORE 2009 clients were still in business in 2010. • SCORE clients generated $19.4 billion in revenue. 11

  11. What Is It? Scholarships for veterans to attend SCORE Business Start Up and Growth Training programs. + MENTORING + Web based workshops, tools, templates and white papers for starting your business. Free and discounted software and business services. Free personal business advice from SCORE mentors. A new program that aims to help accelerate the ability of veterans and their families to start and succeed as small business owners. Program Components:

  12. Benefits of the Program • This is a comprehensive approach to assisting Veteran small business startups providing education, resources, and guidance. • Too many new businesses fail for fundamental reasons: • Lack of clarity about products, demand, customers • No unique approach to markets • Too little funding • Poor Business concepts and/or Business Plans • Not everyone can attend “B” School – We’ll teach what’s needed • Going it alone from outset is frightening and dangerous – We provide seasoned mentors to guide the way.

  13. Workshop Scholarship Screenshots Chapter Locator 1 page scholarship form Coupon

  14. Defining Success Successfully implemented, this initiative will meet the following objectives: • Mentor over 16,000 Veterans. • Award over 2,000 scholarships for Business Start Up and Growth courses. • Connect tens of thousands of Veterans and Family Members with special offers and discounts relevant to starting and growing a small business.

  15. Thank you Questions?

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