The Entrepreneurs Playbook New Edition 2014

FOREWORD
by Steve L Chong ......................................................................................................

INTRODUCTION ..........................................................................................................
What is Entrepreneurship? ........................................................................................
How Do I Use This Playbook? ...................................................................................
Do I Have What It Takes? ............................................................................................
STEP ONE: BREAK THE RULES ................................................................................
A. Dreaming Your Company Vision ..............................................................................
B. Designing Your Company Mission ..........................................................................
C. Developing Your Business Strategies ......................................................................
STEP TWO: KNOW THY CUSTOMER ........................................................................
A. Researching Your Marketplace ................................................................................
B. Marketing Your Company .........................................................................................
C. Selling Your Goods ..................................................................................................
STEP THREE: GET ORGANIZED ...............................................................................
A. Establishing Your Brand Identity .............................................................................
B. Capitalizing Your Business Venture .........................................................................
C. Forming Your Business Organization ......................................................................
STEP FOUR: CRAFT A BUSINESS PLAN ..................................................................
A. Writing Your Marketing Plan .....................................................................................
B. Writing Your Operating Plan .....................................................................................
C. Writing Your Financial Plan ......................................................................................
STEP FIVE: PROMOTE YOUR BRAND ......................................................................
A. Producing Your Marketing Materials ........................................................................
B. Coordinating Your Marketing & Sales ......................................................................
C. Growing Your Business Network .............................................................................
STEP SIX: CHIEF YOUR OPERATIONS .....................................................................
A. Governing Your Enterprise .......................................................................................
B. Monitoring Your Communications ............................................................................
C. Controlling Your Finances ........................................................................................
GLOSSARY ..................................................................................................................
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CONTENTS
Copyright Notice
The ENTREPRENEURS PLAYBOOK
How To: Startup Your Dream Business
Copyright 2012-2014 by Steve L. Chong
All rights reserved. No part of this publication may be reproduced or
transmitted in any form or by any means, electronic or mechanical
with prior permission in writing from the publisher.
ISBN: 978-0-9858523-9-9
Visit us online:
www.entrepreneursplaybook.com
www.facebook.com/entrepreneursplaybook
www.twitter.com/idreamthefuture
Dear Future Entrepreneur,
FOREWORD
Congratulations on your special purchase of The Entrepreneurs Playbook!
In your hands is everything you need to manifest your dream life into reality.
This business startup guide was lovingly created to show you play-by-play the
ABC's of ENTREPRENEURSHIP. It is inspired by our belief that anyone -
regardless of background, age or education level - can live the Real American
Dream of Business Ownership.
Becoming an entrepreneur is an incredible journey of self-discovery and
sacrifice. Our mission is to help you capture your business dreams from the
initial spark of creative inspiration to the development of your Big Idea to the
ultimate delivery of your company' s goods and services.
It is said, the best opportunities in life are the ones we create from the heart.
Look around, everyday people are waking up to the epiphany that they can
profit from their passion. With owning your own enterprise, you can enjoy a
lifetime of income, true job security and have the TIME of YOUR LIFE.
Thank you for your business!
In Freedom,
Steve L. Chong
Author of The Entrepreneurs Playbook
iii
Imagination is more important than knowledge.
~ Albert Einstein
[This is a self-initiation into the world of the entrepreneur.]
NO DOUBT .... that if you are reading this RIGHT NOW, it is your hearts
desire to launch your dream business and live the life of a successful
entrepreneur. Can you imagine?
IMAGINE .... BEING TELEPORTED TO THE FUTURE!
What Would You Attempt If You Knew You Could Not Fail?
TAKE YOUR TIME to picture your dreams coming into clear vision, see
the details, noticing who is with you, what is around you, and what you feel
like. Imagine it in full color and dimension. See yourself in the middle of
your vision fulfilled.
THE TRUTH IS your creative mind is an exceptional, amazing, magical
workshop where ANYTHING IS POSSIBLE with true intention.
IN FACT your thoughts and ideas are the very dream seeds from which
your company will grow. The power is literally in your hands when you
open your heart .... YOU ARE THE CREATOR.
CAN YOU FEEL IT? ...... IN YOUR HEART ...... CAN YOU FEEL IT?
IF YOU CAN DREAM IT WITH INTENTION .... YOU CAN DO IT!
IMAGINE .... OWNING YOUR VERY OWN COMPANY!
What If Time, Money and Energy Were Not An Issue?
IMAGINE .... WAKING UP EXCITED EVERYDAY!
What If Your Passion Became Your Business?
DREAMING THE FUTURE
1
INTRODUCTION
DO NOT JUST BE A SPECTATOR IN THE GAME OF LIFE!
2
TODAY .... Please understand that today you can decide to
be the captain of your own FATE - the master architect of
your own DESTINY. Then believe that the greatest tragedy
in life is to let all of your time slip through your fingers
without being able to realize your dreams.
So why do most people spend their time living a life they
don't love? It's because traditional thinking dictates that you
work for someone else - building someone else's dream and
making them wealthy, not you.
NEVER LET FEAR NOR DOUBT STOP YOU FROM TAKING
THAT FIRST STEP TOWARDS FREEDOM.
3
But by choosing to startup your own business enterprise, you
are now declaring your Personal Declaration of
Independence in order to liberate yourself from the chains of
the typical 9-to-5, merry-go-round, rat-race lifestyle.
The success of your venture is only limited by your
imagination, character and strength of will. So go forth
with hearts filled with passion in order to actualize what your
mind's eye has seen!
THIS INTRODUCTORY CHAPTER ANSWERS
THE FOLLOWING 3 QUESTIONS:
What Is Entrepreneurship?
How Do I Use This Playbook?
Do You Have What It Takes
4
Freedom To:
Freedom To:
Freedom To:
Freedom To:
Freedom To:
Freedom To:
BE YOUR OWN BOSS LIVE YOUR PASSION
CREATE TRUE JOB SECURITY
EARN MONEY INDEPENDENCE
SET YOUR OWN SCHEDULES
HAVE FUN AND FEEL FREE!
Successful entrepreneurs are driven by
more than just money, they follow their
hearts to find true happiness and joy in
life. When you are truly passionate about
what you do, you give 110%.
Become the controller of your destiny
rather than being controlled by your
miseries. With self-employment, you are
able to fully leverage your creativity and
show your leadership.
Business ownership provides the potential
for unrestricted income, instead of a fixed
salary. Trading your time for money is an
endless trap. Enjoy supporting yourself
through your business endeavors.
Authentic entrepreneurship is about
blurring the line between work and play.
Take that leap of faith, choose your own
terms, set your own intentions and
manifest all of your life dreams.
In the past, working for an employer and
depending on them to take care of you
represented job security. Today, job
security comes from within and by
building a successful business.
When you are working for yourself, you
have the flexibility to choose when you
work, how you work and with whom you
work. Own your time, achieve work/life
balance and bring your ideas to life.
What is Entrepreneurship?
In a word, Entrepreneurship is FREEDOM.
5
Step Six:
CHIEF YOUR OPERATIONS
Governing Your Enterprise
Monitoring Your Communications
Controlling Your Finances
Step One:
BREAK THE RULES
Dreaming Your Vision
Designing Your Mission
Developing Your Strategies
Step Three:
GET ORGANIZED
Establishing Your Brand Identity
Capitalizing Your Business Venture
Forming Your Business Organization
Step Five:
PROMOTE YOUR BRAND
Producing Your Marketing Materials
Coordinating Your Marketing & Sales
Growing Your Business Network
Step Four:
CRAFT A BUSINESS PLAN
Writing Your Marketing Plan
Writing Your Operating Plan
Writing Your Financial Plan
Step Two:
KNOW THY CUSTOMER
Researching Your Marketplace
Marketing Your Company
Selling Your Goods
How Do I Use This Playbook?
This playbook is about the art, science and magic of
entrepreneurship. It is divided into 6 chapters, each
representing a vital step in the startup business process. Each
step also contains the 3 critical action steps to bring it to
fruition.
6
PASSION
CREATIVITY
COMMITMENT
INTEGRITY
LEADERSHIP
COMMUNICATION SKILLS
INTUITION
PATIENCE
Successful entrepreneurs are strongly
persuasive salesman and bold marketers who
are able to promote the benefits and features
of their products to the marketplace and target
customer base.
Successful entrepreneurs are goal-oriented
and take personal responsibility for their entire
company and operations. They take a
proactive approach to capitalizing on
opportunities while optimising risk.
First and foremost, successful entrepreneurs
engage in their labor of love. They are
self-motivated, not needing someone who
holds them accountable or forces them to be
efficient and productive.
Successful entrepreneurs are crafty like
beavers, always enterprising in thought and
willing do whatever it takes to deliver the
goods and services that their target markets
truly want, need and desire.
Successful entrepreneurs adibe by the laws of
karma, always practice the Golden Rule and
conduct themselves by an upstanding Code of
Ethics in all their personal and professional
dealings.
Sucessful entrepreneurs realize that running a
business is not just a job, but a dedicated
24/7/365 lifestyle that requires daily focus,
extreme perserverance and excellence in
execution.
Sucessful entrepreneurs rely on their natural
instincts, trust their gut and listen to their
inner-voices to show them the best next moves
towards reaching their business dreams and
life goals.
Last and certainly not least, the successful
entrepreneur acknowledges that creating a
business that lasts requires time, energy,
vigilience, dedication to craft, and continuous
improvement.
Do You Have What It Takes?
If you believe that you can embody a majority of these following
attributes and characteristics, you may have the mindset of the
entrepreneur. If you have none or just a few of these
characteristics, self-employment would seem like the wrong career
choice.
7
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.
Isnt It Time To Break the Rules of Conventional Thinking
and Go Into Business For Yourself?
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
DEVELOPING YOUR BUSINESS STRATEGIES
How Will You Actualize Your Dream?
DESIGNING YOUR COMPANY MISSION
What Is The Purpose of Your Business?
DREAMING YOUR COMPANY VISION
What Do You Want to Achieve?
9
By Dreaming Your Vision you can create a clear Big Picture of your
business organization's future in the marketplace. Your company vision
will need to provide the inspiration to guide all your business decisions.
Envision My Ideal Customers
Envision My Unique Strengths
What Activities Ignite Your Entrepreneurial Spirit?
Identify the passions you can build a profitable business and your entire life around.
Who Will Purchase Your Companys Goods?
Identify the core customers you will focus your marketing campaign directly to.
What Is Your Special Offering To the Market?
Identify how your leadership, skills and talents can meet the needs of the marketplace.
Envision My True Passions
DREAMING YOUR VISION
Define My Core Values
Define My Core Advantages
By Designing Your Mission you can give your business its main reason
for being in the marketplace. Your company mission defines the
non-financial reasons of why your organization exists.
Why Does Your Company Exist?
Identify the fundamental reasons for your business organization to be in the marketplace.
What Does Your Company Stand For?
Identify the central beliefs and principles that will guide your business activities.
What Does Your Company Do Better Than The Competition?
Identify how your business and its produtcs will out-perform similar companies.
Define My Core Purpose
DESIGNING YOUR MISSION
Construct My Business Objectives
Construct My Business Timelines
By Developing Your Strategies you can focus your passion and direct
your business venture. A strategy-focused company operates more
efficiently with their capital, customer service, resources and assets.
Where Do You See Your Company in 1 year, 3 Years and 5 Years?
Identify how you define success and a clear vision of exactly what you want to achieve.
How Will You Reach Your Companys Goals?
Identify the practial tactics your business will employ to reach your visualized outcomes.
What Deadlines Have You Set For Each Company Goal?
Identify the schedule of action steps necessary to meet your target completion dates.
Construct My Business Goals
DEVELOPING YOUR STRATEGIES
STEP ONE: BREAK THE RULES
What Activities Ignite Your Entrepreneurial Spirit?
Who Will Purchase Your Companys Goods?
What Is Your Special Offering To the Market?
Where Do You See Your Company in 1, 3 and 5 Years?
How Will You Reach Your Companys Goals?
What Deadlines Have You Set For Each Company Goal?
Why Does Your Company Exist?
What Does Your Company Stand For?
What Does Your Company Do Better Than the Competition?
DEVELOPING YOUR BUSINESS STRATEGIES
DESIGNING YOUR COMPANY MISSION
DREAMING YOUR COMPANY VISION
REVIEW REVIEW
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?
SELLING YOUR GOODS
How Will You Turn Prospects Into Paying Customers?
MARKETING YOUR COMPANY
How Will You Attract Loyal Customers?
RESEARCHING YOUR MARKETPLACE
How Much Demand Is There For Your Products?
This is more a commandment than a step - the ultimate key to success
is to understand, then to deliver exactly what your marketplace desires.
Possessing customer knowledge is pivotal to gaining the correct
perspective, materializing your visualized outcomes and successfully
fulfilling your customers' needs and desires.
The ability to acquire and retain customers is absolutely necessary to
earning an income and sustaining a business venture.
14
Analyze My Market Niche
Analyze My Competitors
By Researching Your Marketplace you can determine the market
opportunity for what you can supply. Obtaining market research will
tell you who your customers are and where your industry is headed.
What Are The Defining Dynamics Of Your Marketplace?
Identify the demographics, lifestyle traits and buying power of your target market segment.
Who Exactly Are Your Target Customers?
Identify the defining characteristics, common interests and profile of your core customer base.
Who Else Offers Similar Solutions?
Identify the strengths and weaknesses of your direct and indirect competition in the marketplace.
Analyze My Target Markets
Choose My Pricing
Choose My Product Placements
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.
How Will You Create Value For Your Customers?
Identify the benefits and competitive advantages of the products and services you are bringing to market.
How Much Should You Charge?
Identify the profit-minded and sustainable pricing structures for all your companys product lines.
How Will Your Companys Goods Reach Their Target Markets?
Identify all the distribution channels where your products and services will be available for sale.
Choose My Product Line
Set Up My Quality Control Program
Set Up My Customer Service
By Selling Your Goods you can begin generating business revenue to
operate your commercial enterprise. Without paying customers
purchasing your goods, there simply will be no business.
How Will You Produce Your Companys Products?
Identify the details of your production and delivery cycles from start to finish.
How Will You Meet Your Customer Requirements?
Identify the details of how your company will ensure that consumer quality demands are met.
How Will You Keep Your Customers Happy?
Identify the processes your company has in place to help you consistently exceed customer expectations.
Set Up My Manufacturing Process
SELLING YOUR GOODS
How Will Turn Prospects Into Paying Customers?
STEP TWO: KNOW THY CUSTOMER
What Are The Defining Dynamics Of Your Marketplace?
Who Exactly Are Your Target Customers?
Who Else Offers Similar Solutions?
How Will You Produce Your Companys Products?
How Will You Meet Your Customer Requirements?
How Will You Create Value For Your Customers?
How Much Should You Charge?
How Will Your Companys Goods Reach Their Target Markets?
REVIEW REVIEW
SELLING YOUR GOODS
Are You Ready To View The World Through The Heart and Eyes of Your Customers? Are You Ready To View The World Through The Heart and Eyes 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?
FORMING YOUR BUSINESS ORGANIZATION
What Legal Form Is Best For Your Company?
CAPITALIZING YOUR BUSINESS VENTURE
How Will Your Company Be Financed?
ESTABLISHING YOUR BUSINESS IDENTITY
What Image Will Your Company Present?
Once you have chosen your company's goods, it is critical to build a
solid business organization around them.
Organizational Planning is a dynamic process that demands continuous
re-evaluation and constant revisioning. An organizational plan is
basically a to do list for an organization.
Be proactive to ensure that all risk factors, legalities and local
regulations are considered and dealt with properly.
19
By Establishing Your Brand Identity you can communicate your
companys Unique Selling Points (USP). Creating an impactful brand
message is key to reaching and communicating your Market Niche.
Select My Brand Tagline
What Slogan Best Clarifies Your Unique Selling Points?
Identify a specific phrase or group of words that best expresses your company vision and values.
Select My Brand Logo
What Images or Words Best Symbolize Your Company?
Identify the distinctive graphic designs, shapes or text graphics that best represent your business.
What Will Your Company and Its Products Be Called?
Identify the product names that best personify and uniquely represent your business.
Select My Brand Name
Determine My Startup Resources
Determine My Startup Budgets
By Capitalizing Your Venture you can open and operate your business
while on your road to profitability. There is a startup capital investment
associated with operating any growing new business.
How Much Seed Money Is Necessary To Open?
Identify the total expenditures that you new business will incur before its launch.
What Are Your Sources of Securing Business Capital?
Identify how you will meet your new companys financial requirements and obligations.
How Will You Utilize Your Captial Funds?
Identify how your financial future will enford with your projected income, projected expenses and cash needs.
Determine My Startup Costs
Structure My Business Licenses
Structure My Business Insurance
By Forming Your Organization you can ensure the success of future
company decisions. Business ownership comes in many forms, due
your due diligence and choose whats best for you and your family.
What Form of Ownership Is Best For Your Company?
What Laws Do You Need To Comply With?
Identify the local rules, permits and regulations necessary to keep your business legal.
How Are You Mitigating Business Risks?
Identify all of the safeguarding measures you will set in place to protect your companys and personal assets.
Structure My Legal Business Entity
Identify the best suitable corporate business structure (sole proprietorship, partnership, corporation)
for your new business enterprise.
STEP THREE: GET ORGANIZED
What Will Your Company and Its Products Be Called?
What Images or Words Best Symbolize Your Company?
What Slogan Best Clarifies Your Unique Selling Points?
What Form of Ownership Is Best For Your Company?
What Laws Do You Need To Comply With?
How Are You Mitigating Business Risks?
How Much Seed Money Is Necessary To Open?
What Are Your Sources of Securing Business Capital?
How Will You Utilize Your Capital Funds?
REVIEW REVIEW
Are You Willing To Take The Legal Steps Necessary To Make Your Business Official? 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
Every new startup company can benefit from the preparation of a
well-thought-out and organized business plan.
Beginning the process of Startup Business Planning will instantly help
you to focus your attention, prioritize your actions, gather your team,
and allocate your resources effectively.
As a living document, an updated business plan serves as a benchmark
to measure the progress of your enterprise over time.
How Will You Measure Your Profitability?
WRITING YOUR FINANCIAL PLAN
WRITING YOUR OPERATIONS PLAN
How Will You Achieve Your Business Vision?
WRITING YOUR MARKETING PLAN
How Will You Acquire Loyal Customers?
24
Are You Ready To Put It All Into Words and Commit Your Plans to Paper?
Describe My Products Lines
Describe My Sales Promotions
By Writing Your Marketing Plan you can detail the vision, mission
and values of your business. The marketing plan should outline and
detail all of your companys promotional and advertising activities.
What Exactly Is Your Companys Business?
Identify exactly what your business will do and the value it will provide to its target demographics.
What Exactly Is Your Company Selling?
Identify the unique features, benefits and competitive advantages of all your goods and services.
How Will You Market Your Company?
Identify the marketing strategies and promotional tactics you will use to get the word out about your business.
Describe My Business Concept
Describe My Business Location
Describe My Company Inventory
By Writing Your Marketing Plan you can detail the vision, mission
and values of your business. The marketing plan should outline and
detail all of your companys promotional and advertising activities.
How Are Your Goods Being Produced?
Identify the production process for each of your companys products and services.
Where Are The Best Locations For Commerce?
Identify the best suitable places to establish your base of operations and conduct business.
How Will Your Track Your Business Assets?
Identify the systems you will have set in place to protect company products, resources and supplies.
Describe My Manufacturing Process
How Will You Measure Your Profitability?
Describe My Break-Even Point
Describe My Balance Sheet
By Writing Your Financial Plan you can measure your progress towards
your sales projections. The Financial Plan outlines your feasibility and
estimating startup capital requirements and profitability potential.
How Much Cash Do You Generate?
Identify the projected sales forecasts for each of your companys products and services.
When Will Your Company Begin To Show A Profit?
Identify how many units of your products and services need to be sold in order to cover total costs.
What Is Your Companys Financial Standing?
Identify all of your companys assets, liabilities and calculate your total net worth.
Describe My Cash-Flow
STEP FOUR: CRAFT A BUSINESS PLAN
What Exactly Is Your Companys Business?
What Exactly Is Your Company Selling?
How Will You Market Your Company?
How Much Cash Do You Generate?
When Will Your Company Begin To Show A Profit?
What Is Your Companys Financial Standing?
How Are Your Goods Being Produced?
Where Are The Best Locations For Commerce?
How Will Your Track Your Business Assets?
REVIEW REVIEW
How Will You Measure Your Profitability? How Will You Measure Your Profitability?
Are You Ready To Put It All Into Words and Commit Your Plans to Paper? 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?
GROWING YOUR BUSINESS NETWORK
How Will You Increase Your Profit Potential?
COORDINATING YOUR MARKETING & SALES
PRODUCING YOUR SALES MATERIALS
How Will You Market Your Products & Services?
24
Construct My Press Kit
Construct My Web Presence
By Producing Your Sales Materials you can speak directly to your
niche market. Creative brand promotions are vital to increasing
demand for your products as well as deepen customer customer loyalty.
What Emotions Does Your Marketing Elicit?
Identify ways to present your business in the best light throughout various media channels.
Are You Sharing Your Business Success With The Media?
Identify ways to package and present your companys promotional materials to members of the media.
What Is The Status Of Your Online Properties?
Identify ways to drive people to your company website, social media and directory listings.
Construct My Sales Collateral
Manage My Public Relations
Manage My Sales Promotions
How Will You Publicize Your Business?
Identify strategies that will generate news stories and free media attention for your brand.
How Will Your Company Foster Goodwill?
Identify strategies that will create a good public image for your business.
What Does Your Company Do Better Than The Competition?
Identify strategies that will increase company brand awareness and to boost business sales.
Manage My Publicity Program
By Coordinating Your Marketing and Sales efforts you can share your
business dream with the world. Your marketing campaign consists of
all the activities you use to promote your company brand.
Expand My Business Alliances
Expand My Market Share
What Individuals and Companies Can Help Your Company Prosper?
Identify all the potential contacts and organizations you can collaborate on business projects together.
What Organizations Can Help Your Company Improve?
Identify all the potential companies you can partner and develop profitable business relationships with.
How Will Your Company Reach More of the Marketplace?
Identify all the potential new customer opportunities and new distribution channels you can sell your goods.
Expand My Business Connections
By Growing Your Network you can forge mutually beneficial business
relationships that will build your brand. Networking extends a base to
support your company goals and increase your return on investment.
What Emotions Does Your Marketing Elicit?
Are You Sharing Your Business Success With The Media?
What Is The Status Of Your Online Properties?
What Individuals and Companies Can Help Your Company Prosper?
What Organizations Can Help Your Company Improve?
How Will Your Company Reach More of the Marketplace?
How Will You Publicize Your Business?
How Will Your Company Foster Goodwill?
What Will Your Company Do To Increase Revenues?
STEP FIVE: PROMOTE YOUR BRAND
REVIEW REVIEW
How Are You Positioning Your Company And Its Products In The Marketplace? 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
A successful business enterprise does not just appear magically - you
have to pay attention to all the details.
Owning a successful business operation hinges on how well you
manage all of your business activities and how well you capitalize on
opportunites in a timely fashion.
Just as important as careful design, the intelligent operation of your
business is required to bring your dream seeds to fruition.
What Can My Company Do To Maximize Profits and Minimize Losses?
CONTROL YOUR FINANCES
Are You Watching Your Budgets & Spending?
MONITORING YOUR COMMUNICATIONS
Are You Getting Your Brand Message Across?
GOVERNING YOUR VISION
Is Your Company Headed In the Right Direction?
34
Captain My Business Priorities
Captain My Business Activities
By Governing Your Enterprise you can optimize the performance of
your startup. Safeguard your assets and wisely allocate your resources
while applying focused attention on proper business governance.
Are You Supervising Your Goal Timelines?
Identify the current status of your company objectives and review the milestones reached along the way.
What Will You and Your Company Accomplish Today?
Identify your daily goals and create a prioritized action item list.
Where Are You Investing Your Companys Time, Energy and Money?
Identify all of your companys current and on-going projects and record your completed tasks.
Captain My Business Vision
Track My Sales Promotions
Track My Promotional Budgets
By Monitoring Your Communications you can evaluate and optimize
your marketing campaign efforts. Properly understanding your
customer's perspective will increase your overall return on investment.
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.
What Are You Doing To Boost Sales Revenues?
Identify all the promotional campaigns and events your company is currently running to increase customers.
What Are You Spending On Marketing?
Identify where all your companys advertising and promotional dollars are being invested.
Track My Advertising
Supervise My Cash Flow
Supervise My Net Worth
By Controlling Your Finances you know where your money is, where
it comes from, how much you have, and where you spend it. Your
Financial Statements prove feasibility and measure profitability.
What Are Your Companys Sources of Income?
Identify how and where your companys sales revenues are being generated.
What Are Your Startup and Business Operating Costs?
Identify all of the costs associated with launching and running your business enterprise.
What Is The Financial Value of Your Business?
Identify the total value of all your business assets after subtracting your total business liabilities.
Supervise My Cash Flow
REVIEW REVIEW
STEP SIX: CHIEF YOUR OPERATIONS
Are You Supervising Your Goal Timelines?
What Will You And Your Business Accomplish Today?
Where Are You Investing Your Time, Energy and Money?
What Are Your Companys Sources of Income?
What Are Your Startup and Business Operating Costs?
What Is the Financial Value of Your Business?
Where Are All Your Companys Advertisements?
What Are You Doing To Boost Sales Revenues?
What Are You Spending On Marketing?
What Can My Company Do To Maximize Profits and Minimize Losses? 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!

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FOREWORD

by Steve L Chong ......................................................................................................

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