Startup Guide

2013 Edition

The

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Building a Better World Through Entrepreneurship

RYAN ALLIS With Ellen Daly
CEO of Connect.com
More slides at www.startupguide.com

Entrepreneurship

100 steps In REVIEW
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entrepreneurship 100 steps in review

1.  FIGURE OUT WHAT CHANGE you WANT TO MAKE IN THE WORLD 2.  BEGIN RESEARCHING THE INDUSTRY AND COMPETITORs 3.  DETERMINE HOW TO CREATE YOUR PRODUCT 4.  TALK TO POTENTIAL CUSTOMERS FOR FEEDBACK 5.  COME UP WITH NAME FOR YOUR COMPANY/PRODUCT

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entrepreneurship 100 steps in review

6.  BUILD YOUR PITCH DECK 7.  CREATE PRO FORMA FINANCIAL PROJECTIONS 8.  DETERMINE CAPITAL NECESSARY TO GET TO CASH FLOW POSITIVE 9.  GET FEEDBACK ON PITCH DECK FROM ADVISORS 10. FIND A CO-FOUNDER IF NEEDED

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entrepreneurship 100 steps in review

11.  12.  13.  14.  15. 

SELECT A QUALITY CORPORATE LAW FIRM IN YOUR AREA INCORPORATE & OBTAIN AN EIN OPEN A COMPANY BANK ACCOUNT TALK TO YOUR ATTORNEY ABOUT MAKING an 83b election BUILD BASIC PRODUCT PROTOTYPE/Minimum viable product

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entrepreneurship 100 steps in review

16.  CREATE EMPLOYEE AGREEMNTS FOR EVERYONE 17.  CREATE CONFIDENTIALITY AGREEMENTS FOR EVERYONE 18.  HOLD INITIAL BOARD OF DIRECTORS MEETING 19.  CREATE YOUR RSU/STOck options plan 20.  ISSUE STOCK CERTIFICATES

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entrepreneurship 100 steps in review

21.  FUND YOUR BANK ACCOUNT AND ORDER CHECKS 22.  DETERMINE IF YOU NEED OUTSIDE CAPITAL TO START 23.  RAISE ANY INITIAL STARTUp CAPITAL NEEDED 24.  GET A COMPANY DEBIT/CREDIT CARD 25.  SET UP YOUR ACCOUNTING SOFTWARE

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entrepreneurship 100 steps in review

26.  SELECT YOUR PAYROLL PROVIDER 27.  TRADEMARK THE NAME(S) of your company /Product 28.  DESIGN YOUR LOGO 29.  CREATE BUSINESS CARDS 30.  FIND OFFICE SPACE TO WORK OUT OF

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entrepreneurship 100 steps in review

31. FURNISH YOUR OFFICE AS NEEDED 32. PURCHASE ANY SOFTWARE/HARDWARE YOU WILL NEED 33. GET WIRELESS INTERNET ACCESS SETUP AS NEEDED 34. OBTAIN A UPC IF YOUR PRODUCT WILL BE SOLD IN STORES 35. DESIGN LABELING/PACKAGING IF NECESSARY

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entrepreneurship 100 steps in review

36.  37.  38.  39.  40. 

FINISH PRODUCT ALpHa/PROTOTYPE GET INITIAL USER/CUSTOMER FEEDBACK ORDER INITIAL INVENTORY OF PRODUCTS IF NEEDED REGISTER YOUR DOMAIN NAME DESIGN YOUR COMPANY WEB SITE

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entrepreneurship 100 steps in review

41.  42.  43.  44.  45. 

INSTALL GOOGLE ANALYTICS ON YOUR WEB SITE IF NEEDED, INSTALL SHOPPING CART ON WEB SITE APPLY FOR MERCHANT ACCOUNT TO ACCEPT CREDIT CARDS SIGN UP FOR EMAIL LIST TOOL like icontact or mailchimp Optimize your web site for search engines & ADD BLOG

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entrepreneurship 100 steps in review

46.  47.  48.  49.  50. 

INSTALL A CRM SYSTEM HIRE INITIAL STAFF AS NEEDED CREATE COMPANYV ALUES & MISSION STATEMENT ANNOUNCE PROCUCT LAUNCH TO LOCAL/RELEVENT MEDIA HOLD LAUNCH EVENT & START SELLING

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entrepreneurship 100 steps in review

51.  HIRE A TEAM TO FULFILL ORDERS & PROVIDE CUSTOMER SERVICE 52.  START An AFFILIATE OR DISTRIBUTOR PROGRAM 53.  BUILD UP AFFILIATES & DISTRIBUTORS 54.  SET UP An AD TRACKING SYSTEM 55.  TRY CPC ADVERTiSING WITH TEST BUDGET

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587

entrepreneurship 100 steps in review

56.  57.  58.  59.  60. 

GET RESULTS FROM THIS ADVERTISING OPTIMIZE AND SCALE AS NEEDED DETERMINE COST OF ACQUISITION A LEAD FOR EACH CHANNEL DETERMINE CONVERSION RATE FOR EACH CHANNEL DETERMINE LIFETIME VALUE OF A CUSTOMER

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588

entrepreneurship 100 steps in review

61.  62.  63.  64.  65. 

Test CPC with bigger budget now that you know LTV TEST SOCIAL ADS & DISPLAY ADS & CALCLATE ROI BY CHANNEL SCALE ADVERTISING UNTIL MARGINAL COST = MARGINAL RETURN OPTIMIZE ADVERTISING to bring down CAC COLLECT TESTIMONIALS FROM INITIAL USERS/CUSTOMERS

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589

entrepreneurship 100 steps in review

66.  67.  68.  69.  70. 

CREATE SOCIAL WORD OF MOUTH FOR YOUR PRODUCT CREATE youtube video promoting your product ATTEND AN INDUSTRY TRADE SHOW CONSIDER SELLING YOUR PRODUCT in BULK AT WHOLESALE BRING ON A BOOKKEEPER TO AUTOMATE ACCOUNTING

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entrepreneurship 100 steps in review

71.  72.  73.  74.  75. 

CREATE AN EMPLOYEE DIRECTORY REVIEW YOUR P&L & balance sheet monthly COMPARE INITIAL FORECAST WITH ACTUAL RESULTS HIRE A SALESPERSON CREATE A SALES COMPENSATION PLAN

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entrepreneurship 100 steps in review

76.  77.  78.  79.  80. 

SET UP A COMPANY HEALTH CARE PROGRAM ESTABLISH YOUR VACATION POLICY TEST OFFLINE ADVERTISING CAREFULLY CREATE A COMPANY INTERNAL INTRANET CREATE a digital company GUIDE

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entrepreneurship 100 steps in review

81.  OPEN UP A CREDIT LINE WITH YOUR BANK 82.  CREATE AN OFFSITE WORK POLICY 83.  ONCE YOU CAN SHOW $1 in means $4 in revenue, raise capital 84.  CREATE A LIST OF FIRMS TO RAISE INITIAL GROWTH FUNDING 85.  UPDATE YOUR PITCH DECK

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entrepreneurship 100 steps in review

86.  87.  88.  89.  90. 

BUILD RELATIONSHIPS WITH INDUSTRY BLOGGERS SEEK PRODUCT REVIEWS HIRE AN EXECUTIVE ASSISTANT/OFFICE MANAGER HOLD YOUR FIRST COMPANY RETREAT TAKE CUSTOMER FEEDBACK AND IMPROVE YOUR PRODUCT

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594

entrepreneurship 100 steps in review

91.  92.  93.  94.  95. 

GET CONNECTED TO INVESTORS FROM PEOPLE YOU KNOW HAVE INITIAL GET TO KNOW YOU MEETINGS FOR FEEDBACK UNDERPROMISE AND OVER DELIVER ON RESULTS FOR NEXT 90 DAYS DETERMINE HOW MUCH CAPITAL TO RAISE RETURN TO FIRMS YOU LIKE FOR PARTNER PRESENTATION

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entrepreneurship 100 steps in review

96.  DO 20 partner presentations in 2 weeks 97.  Get 2 term sheets 98.  NEGOTIATE & SIGN TERM SHEETS 99.  COMPLETE DILIGENCE 100.  CLOSE ON CAPITAL

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Startup Guide
2013 Edition

The

SHARE FREELY

Building a Better World Through Entrepreneurship

RYAN ALLIS With Ellen Daly
CEO of Connect.com
More slides at www.startupguide.com

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