Posted by: womenallaboutbusiness | November 22, 2009

October AAB meeting

All About Business October meeting was GREAT!  we offered a Small Business Workshop by Kalimah Jenkins (www.kidzmealclub.com) here is the outline from the meeting:

Small Business Seminar

  1. 1.       Is entrepreneurship really for you?
    1. Risks
    2. Self discipline
    3. Self motivation
    4. Can work in isolation
    5. Able to change direction/make decisions rapidly and without advice
    6. Not bothered by change
    7. Leader
    8. Willing to work all hours of day and night to get it done
    9. Multitasker
    10. Are you a builder or maintainer
    11. 2.       Company Structure/Taxes
      1. DBA
      2. Corporation
      3. LLC
      4. Partnership
      5. Assumed Name Certificate
      6. Shareholder’s/Partnership Agreement
      7. EIN
      8. Tax Election
      9. 3.       Product or Service?  Benefits/Detriments of each
        1. Patent
        2. Trademark
        3. Copyright

Reference — http://www.uspto.gov/smallbusiness/

  1. 4.       You’ve decided on your product/service, now what?
    1. Feasibility – Market Survey
      1. Do people want what you’re selling
      2. Is there a market for it
  2. Planning – Business Plan  http://www.sba.gov/smallbusinessplanner/index.html
    1. It’s important for your vision
    2. Write your own even if you don’t need financing
  3. Financing – have a good amount of your own
    1. No matter what your idea, no one is going to give you money if you don’t have any of your own
    2. You must have projections for the bank
  4. Location selection
    1. How much space do you really need
    2. What is the square footage price
    3. What is the CAM; what is included in the CAM
    4. Is it a gross or net lease
    5. What kind of space do you need?  Destination or class A
    6. Other leasehold expenses
    7. Personal guarantees
    8. Kick out clauses
    9. TI dollars/Build out
    10. Signage considerations
  5. Demographics
    1. Who is your customer specifically
    2. It’s not everybody
  6. Marketing/Branding
    1. Systematic plan of attack
    2. Combination of business activities intended on bringing in customers
    3. Existing customer referrals
  7. Advertising
    1. Single component in the marketing process
    2. Paid persuasive message by a sponsor
    3. Ad Placement
    4. Web Placement
    5. Value Added Services
    6. 5.       Merchant Services
      1. Retail
      2. MOTO
      3. Qualified rates/midqualified/nonqualified
      4. Leasing v buying
      5. 6.       Bank Accounts
        1. Keep it separate
        2. Are you using a software like QuickBooks?
        3. Web Design/Graphic Design
          1. Website
          2. SEO
          3. Rack cards
          4. Flyering
          5. Car ads
          6. referrals
          7. Printing Services
          8. Common business Mistakes
            1. a.       Failure to market
            2. b.      Bad leases/contracts
            3. c.       Failure to invest in education
            4. d.      Trying to do things too cheaply
            5. e.      Trying to do it all yourself; not outsourcing
            6. f.        Undercapitalization/not having the money upfront
            7. g.       Serial entrepreneurs
            8. h.      Not really having the time or being afraid to take the plunge
            9. i.        Going down with a sinking ship
            10. j.        Failure to invest in self
            11. k.       Customer service issues
            12. l.        Presentation (business cards, mistakes, not fully versed, cannot articulate concept)
            13. m.    Not setting a budget
            14. n.      Not listening to others who know

 

  1. 10.   Franchising
    1. What is it?
    2. Is it a good option – benefits, detriments
    3. FDD
    4. Resources – www. Franchise.org

 

Small Business Resources:

http://www.microsoft.com/smallbusiness/hub.mspx

www.knowledgeshopatlanta.com

www.scoreatlanta.org

www.womenforhire.com

www.sbdc.uga.edu/

 

Vendors:

 Rack Cards – http://www.Willy Walt.com 

Posters /copies – http://www.sircooper.com

Business Cards —  http://www.PrintDirectforLess.com

Embroidery – http://www.Queensboro.com, http://www.Threadsmith.com

Trade Show Booths – http://www.aceexhibits.com

Trade Show banners – http://www.bannersnstands.com

Banners – http://www.Colormaxmaximaging.com

Logo Design – http://www.thelogocompany.net

Stationary Package – www.Printplace.com

Car Signs – Signs by Tomorrow; Sign-A-Rama

 

Great Business Books:

Good to great

Emyth

7 habits of highly effective people

One minute manager

Built to Last

Art of the deal

Stay tuned in for November’s meeting!

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