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FOREWORD
by Steve L Chong ...................................................................................................... iii
INTRODUCTION ..........................................................................................................
What is Entrepreneurship? ........................................................................................
How Do I Use This Playbook? ...................................................................................
Do I Have What It Takes? ............................................................................................
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GLOSSARY
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Copyright Notice
FOREWORD
Steve L. Chong
Author of The Entrepreneurs Playbook
iii
INTRODUCTION
What Is Entrepreneurship?
What is Entrepreneurship?
In a word, Entrepreneurship is FREEDOM.
Freedom To:
Freedom To:
Freedom To:
Freedom To:
Freedom To:
Freedom To:
Step Two:
KNOW THY CUSTOMER
Step One:
BREAK THE RULES
Dreaming Your Vision
Step Three:
GET ORGANIZED
Step Four:
CRAFT A BUSINESS PLAN
Step Five:
PROMOTE YOUR BRAND
Step Six:
CHIEF YOUR OPERATIONS
PASSION
LEADERSHIP
CREATIVITY
COMMUNICATION SKILLS
INTEGRITY
INTUITION
COMMITMENT
PATIENCE
STEP ONE:
BREAK THE RULES
"Dost thou love life? Then do not squander time, for that is the stuff life is made of."
~ Benjamin Franklin
In the GRAND GAME of business and in life, your time is your most
precious commodity - it is the very currency of life.
That's why for the entrepreneur, TIME IS MONEY. Spent wisely,
incredible accomplishments can be achieved. Time wasted, it is gone
forever.
Do not be a part of the unthinking majority. Harness the power of free
enterprise, unleash your entrepreneurial spirit and startup the business
of YOUR dreams - TODAY.
REVIEW
STEP ONE: BREAK THE RULES
Isnt It Time To Break the Rules of Conventional Thinking
and Go Into Business For Yourself?
STEP TWO:
KNOW THY CUSTOMER
"Every company's greatest assets are its customers, because without customers there is no company."
~ Michael Lebeouf
Are You Ready To View The World Through The Heart and Eyes of Your Customers?
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Analyze My Competitors
Who Else Offers Similar Solutions?
Identify the strengths and weaknesses of your direct and indirect competition in the marketplace.
By Marketing Your Company you can get the word out about your new
business and its core values. With an intelligent marketing campaign, your
current and future customers can learn the about your startup business.
Choose My Pricing
How Much Should You Charge?
Identify the profit-minded and sustainable pricing structures for all your companys product lines.
REVIEW
STEP TWO: KNOW THY CUSTOMER
Are You Ready To View The World Through The Heart and
and Eyes
Eyes of
of Your Customers?
STEP THREE:
GET ORGANIZED
"In the successful organization, no detail is too small to escape close attention."
~ Lou Holtz
Are You Willing To Take The Legal Steps Necessary To Make Your Business Official?
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REVIEW
STEP THREE: GET ORGANIZED
Are You Willing To Take The Legal Steps Necessary To Make Your Business Official?
STEP FOUR:
CRAFT A BUSINESS PLAN
"Before everything else, getting ready is the key to success."
~ Henry Ford
Are You Ready To Put It All Into Words and Commit Your Plans to Paper?
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Describe My Cash-Flow
How Much Cash Do You Generate?
Identify the projected sales forecasts for each of your companys products and services.
REVIEW
STEP FOUR: CRAFT A BUSINESS PLAN
Are You Ready To Put It All Into Words and Commit Your Plans to Paper?
STEP FIVE:
PROMOTE YOUR BRAND
"Your premium brand better be delivering something special, or it's not going to get the business."
~ Warren Buffet
Now that you have created your companys brand identity, you need to
promote it to your target audience.
Creating a successful and memorable brand will express your Unique
Selling Point, attract your target customers and enhance your
reputation.
No matter how innovative your products and services may be,
impactful branding will set your company apart from the competition.
How Are You Positioning Your Company And Its Products In The Marketplace?
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REVIEW
STEP FIVE: PROMOTE YOUR BRAND
How Are You Positioning Your Company And Its Products In The Marketplace?
STEP SIX:
CHIEF YOUR OPERATIONS
"When it is obvious that the goals cannot be reached, don't adjust the goals, adjust the action steps."
~ Confucius
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Track My Advertising
Where Are All Your Companys Advertisements?
Identify all the advertising vehicles and media channels you will employ to get your ads viewed or listened to.
Supervise My Expenses
What Are Your Startup and Business Operating Costs?
Identify all of the costs associated with launching and running your business enterprise.
REVIEW
STEP SIX: CHIEF YOUR OPERATIONS
What Can My Company Do To Maximize Profits and Minimize Losses?
GLOSSARY
Accounting: The bookkeeping systems in place to track and report financial transactions.
Advertising: The paid announcements in print, radio, broadcast, and electronic media designed to attract
public attention to your brand.
Angel Investors: Private individuals who provide financial backing for a business startup in exchange
for equity.
Assets: The property, resources, rights, and items of value that a business owns.
Balance Sheet: An accounting statement of a companys financial status at a given point in time.
Brand: The image or personality of a company as perceived by its customers.
Brand Loyalty: The willingness of customers to continue purchasing a company's products.
Break-Even Point: The moment when sales revenue equals expenses.
Business Concept: A summarization what a company is all about; the Big Idea.
Business Plan: A written document that describes in detail how a company is going to achieve its goals.
Capital: The wealth and assets used to create additional wealth and assets; equity.
Cash-Flow Statement: A report that details the monies coming in and out of a business over a time period.
Company Vision: The ultimate goal and Big Picture of what a business has set out to achieve.
Competitive Advantage: The superiority a business has over its competitors.
Core Values: The non-changing, fundamental beliefs that define an organization and dictate the decisions
of the company.
Cost of Sales: The total cost to purchase and/or manufacture a company's products.
Corporation: A legal and taxable entity separate from its shareholders.
Distribution Channels: The ways and means of getting a company's goods to their customers.
Demand: The willingness to buy a product at a given price during a given time period.
Demographics: The particular characteristics of a population such as age, gender, economic status, level
of education, marital status, family size, and interests.
Elevator Pitch: A concise verbal presentation of your Big Idea.
Entrepreneur: A person who owns, organizes and operates a business or businesses in the free
enterprise system.
Financial Budget: A projection of future performance; the estimate of revenues, expenses, and profits for
a given time period.
Financial Plan: A statement that forecasts revenue, expenses, and the capital needed to become operational.
Freedom: The power to determine action without restraint.
Income Statement: A report of a companys revenues and expenses and the resulting profit or loss over
a given period of time.
Income Taxes: The annual charge levied on a company's net income.
Industry Trends: The direction the line of business and overall market is taking.
Inventory: The supplies, goods for sale, equipment, and raw materials held by your company.
Joint Venture: A agreement by two or more businesses to work on a project together.
Liabilities: The financial obligations, debts and claims on the assets of a company.
Limited Liability Company (LLC): A business structure that combines the tax advantages of a
partnership with the liability protection of a corporation.
Logo: An image, symbol or graphic that represents a company.
Market: A distinct group of potential buyers.
Marketing Plan: A coordinated action program for communicating the value of your products/services
to your customers.
Market Price: The price at which a good can be sold in the open marketplace.
Market Research: The exploration of the size, characteristics, spending habits, and needs of
your target market, the industry as a whole, and the competitive landscape.
Merchandising: The promotion and display of brand merchandise goods in a retail outlet for sale.
Mergers: The joining together of two or more companies.
Mission Statement: A phrase that defines a companys purpose.
Net Profit: The amount of money remaining after all expenses have been met.
Networking: Activities to developing profitable business relationships.
Net Income: A company's profit after taxes.
Net Worth: Total assets minus total liabilities; the equity of a company.
Operating Expenses: The amount paid for the cost of doing business.
Operations: The activities an organization uses to fulfill its vision, mission and values.
Partnership: Two or more companies operating a business together, sharing profits and losses.
Publicity: Generating newsworthy stories that attract attention to a company and its products.
Public Relations (PR): The process of maintaining of a good public image for a business organization.
Press Kit: A specialized package of company branded materials for members of the media.
Pricing: Determining what a company will receive in exchange for its products & services.
Profits: The income earned after all expenses, overhead and production costs have been subtracted.
Return on Investment (ROI): A performance ratio that measures the profitability of a business by
dividing net profit by net worth.
Revenues: The amount of money a business generated during a period of time.
Risk: The measurable possibility of losing value.
Sales: The exchanging of goods or services for money.
Sales Promotions: The activities designed to introduce prospects to your products and to increase
revenue.
Sole Proprietorship: A business entity with one owner who operates the enterprise.
Startup Capital: The seed money needed for a new business to go from conception to company.
Strategic Alliance: A relationship formed by independent companies with a vested interest in mutual
success.
Supply: The amount of product available to customers.
Target Market: The specific group of consumers a company intends to sell to.
Unique Selling Point (USP): The special benefits about a product or service that set it apart from the
competition.
Vision Statement: An aspirational description of the ideal picture of a company in the future.
THANK
YOU
for your
BUSINESS!