Is Business Ownership For You?

Welcome
To Our
Free Business Training Webinar
Is Business Ownership For You?

1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 1
www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com

I
n
t About Baanabaana Business Agency
r See our website – www.baanabaana.com
o
d Why this training
u I wished I had this when I started out
c
I love to share what I know
t
Help entrepreneurs set a solid business foundation to build upon
i
o
A business savvy customer is the best customer
n
What to expect
Listen only mode * Interact via our blog * Feedback survey


T
r
Training Overview
a
i Topics
n
Is Business Ownership For you?
i
Writing Your Business Plan
n
g
Business Organization
Registration, Licenses, Permits Insurance
O Business Finances & Financing
v Business Location
e Tools, Technology & Equipment
r Staffing
v Marketing & Opening
i Growing & Expanding
e
w

W
e Is Business Ownership For you?
e
k Personal Evaluation
O
Business Vision
n
e
Business Selection Recommendation
T
o Choosing The Right Path For You
p
i
Getting the skills
c
s
What To Do / What Not To Do


P Characteristics Of An Entrepreneur
e
r Creative Visionary * Independent Thinker
s Dreamer Planner Communicator * Gutsy Dedicated Motivator
o Self-Fulfilled Socially Conscious Seeker * Zen Focused Storyteller
n
Gregarious Confident Innovator * Proactive Tech Savvy Leader
a
l Honest Action-Orientated Salesperson * Pedantic Resourceful Risk-taker
Organized Money-wise Negotiator * Customer Centered Jack/Jill-of-all
E Expert Self-Promoter * Competitive Accessible Go-getter
v Fair Culturally Fluent Team Player * Hardworking Patient Collaborator
a
Persistent Optimistic Realist * Analytical Empathic Listener
l
u Compassionate Adaptable Professional * Conscientious Loyal Worker
a Responsible Inspiring Manager * Tenacious Problem-solver
t Open-minded Opportunist * Panoramic Strategist
i Passionate Learner
o 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 5
n www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com

P
Critical Traits
e
r
Gutsy Risk-taker
s
o
Courage, determination, nerve, intense desire/need to take the risk and leap
n toward having your own business.
a Expertise
l Working knowledge about the business industry you plan to be in before you start
at the very least. Good dose of common sense, willingness to learner, appropriate
E experience
v Patience
a Becoming successful takes time. You may have failures before you make it
l
u Adaptable Opportunist
a There is a good chance that things may not go as you envisioned. Be ready to take
t advantage of opportunities. Nurture the ability to turn a failure into opportunity
i

P
Why would you need to evaluate yourself?
e
r
s Everything about owning a small business revolves around one thing and that is YOU
o
n
a
Check for other readiness factors before you launch
l
Other personal circumstances and of those close to you – health issues, family
support
E
v Factors beyond your control still depends on YOU and how you react and how you
a handle them
l
u
a
t
i

B
u Business Vision
s
What you visualize when you think about being in business
i
n Some Questions to ask yourself
e Where do you want to work?
s How many hours per day do you want to work?
s What do you want to do daily?
When do you want to work?
V
How do you want to dress for work?
i
s
Solopreneur or working with others?
i What would you love/hate doing?
o Moonlighting* or full charge?
n How big do you want your business to be?
etc


B Why You Need A Business Vision
u
s
i
To help you plan effectively
n
e For Direction – every journey needs a road map
s
s
For Destination – so you know when your dreams have comes true
V
i
Exit Strategy
s
i
o
n


B Create Your Vision & Write Your Sound Bite & Vision Statement
u
s
i Write down your answers to the questions above
n
e
Create a draft sound bite (elevator pitch), share and get feedback
s
s
Re-write and repeat above step until perfect
V
i Know your sound bite by heart and say it like you mean it
s
i Pick a time frame
o
n Create your vision statement based on sound bite


B Sample Sound Bite & Vision Statement
u
s A sound bite may read like this:
i
n Hello, my name is Sally. I am a chef, a food blogger and winner of the 2012 Healthy Chef
e competition in Johannesburg, South Africa. I graduated from one of the region’s top
s
culinary schools and have been in the food and beverage industry for over eight years,
s
working with internationally chefs.
V
i
I plan to open a one-of-a-kind restaurant in Cape Town, called The Skinny Chef in the
s next 3 months, providing a combination of healthy eating with perfectly prepared and
i portioned food and outstanding service that creates an extraordinary healthy, gourmet
o dining experience.
n
You can follow my blog at www.skinnychef.com or reach me at 45-555-1212


B Sample Sound Bite & Vision Statement
u
s A Vision Statement based on the above might read like this:
i
n
In the next three years, The Skinner Chef will be rated as a "five star" restaurant in the
e
s
Manhattan area by consistently providing a combination of healthy eating with perfectly
s prepared and portioned food and outstanding service that creates an extraordinary
healthy, gourmet dining experience.
V
i
s
i
o
n


B
u Selecting A Business - Recommendation
s "Find a job you love and you will never work a day in your life. " - Confucius
i
n Find a need to fill
e
s Don’t rush, take your time
s
Make sure you have enough capital
S Start simple and grow
e
l Look for long term potential
e
c Go for a business industry you know over one that is brand new to you
t
i Specialize if possible
o
n 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 13

R
i Choosing The Right Path For You
g Start from scratch
h
t
Buy an existing Business
B
u Buy a Franchise
s
i
n
e
s
s

P
a
t 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 14
h www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com

T Getting The Skills You Need
h
e
Work for someone else in the same business
R
i Take courses
g
h Read books / online material
t
Get a mentor
S
k
i
l
l
s


D What To Do / What Not To Do
o
s
Do Don’t
a rush into business ownership
evaluate your business readiness
n
research industry, market and competitors neglect research and testing
d
get the skills you need get caught in a conflict of interest
D test your market mortgage everything you own
o objectively compare all your options do something you don’t enjoy
n ensure you have enough capital spend, spend, spend
’ be patient be in business by yourself
t
s


E
n
d
Thank you
o
f
Next Week
S
e Business Organization
s
s
i
o Have a great weekend!
n
Visit our blog for online tools and resources
O
n
www.baanabaana.com
e 1/4/2013 Free Online Business Training - Week One - Is Business Ownership For You? 17

Is Business Ownership For You?

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