Start Me Up - 6 Steps to Launching Your Own Startup Company

START ME UP6 Steps to Launching Your Own Startup Company

Clint Edmonson, Co-founder of Zootography.com

Disclaimer!

• IANAL I am not a lawyer!

• CALOTMAAYOR Consult a lawyer or take my advice at your own

risk!

Step 1:Have a

Great Idea

Step 1:Have a

Great Idea

Compelling

Realistic

Profitable

Solve a pain

Change the world

Make meaning

Step 2: Have A Plan

Step 2: Have A Plan

Market AnalysisCustomer Profile - Market Size & Growth Potential - Major Competitors & Participants

Product OfferingPricing - Differentiators & Positioning

Marketing PlanMessage - Marketing Plan

Financial Projection5 Year Earnings Prediction

Exit Strategy?

A market without competition aint!

Profit = Revenue - Costs

The Fundamental Business Equation

What do you call it when costs exceed revenue?A hobby!

Step 3: Found Your Company

Step 3: Found Your Company

Choose a business structureProprietorship Partnership Corporation (S,C,Non-Profit, etc,) LLC …

Get an Employer Identification Number (EIN)For tax returns, even if you won’t hire employees

Get a bank accountSeed with initial funding for up front costs

Register your trademarkUse TM right away for some protection, get it formally registered for more protection

Step 4: Build Your Profit Engine

Step 4: Build Your Profit Engine

Realize your dream!Buckle down and get to work. Build value!

Leverage your alliesAngel Investors Venture Capitalists Gov’t Assistance Programs Vendor Incentives

Step 5: Tell the World About It

Step 5: Tell the World About It

What percentage of your budget should be spent on marketing? 30% 50% 70%

How many impressions turn into leads for a typical marketing campaign? 3% 10% 18%

Understand the three marketing power tools Impressions Leads Mavens

Marketing Impression Example #1

Are you a technology start-up?BizSpark is an innovative new program that unites Startups with entrepreneurial and technology resources in a global community with a common goal of supporting and accelerating the success of a new generation of high-potential Startups.

http://www.microsoft.com/bizspark

Marketing Impression Example #2

Step 6: Make $$$

Step 6: Make $$$

Favor regular, recurring transactionsCompanies live and die by monthly cash flow

Keep good books and pay your taxesEstimated quarterly taxes Others – Federal, State, City, Franchise, Sales, Use

Find a good lawyer…They say every company gets sued at some point

and a better accountantProvide consultation on financial best practices and tax laws

Resources

The Art of the Start – Guy Kawasaki

How to Start A Business In Missouri – Entrepreneur Press

Streetwise Business Tips – Bob Adams

The Tipping Point – Malcolm Gladwell

Thank You

Clint EdmonsonCofounder - Zootography.comEmail: clint@zootography.comWeb: http://www.zootography.comTwitter: @clinted