An Entrepreneur's Journey - The Start Up
Published on Apr 04, 2016
An Entrepreneur's Journey is the first chapter in a series of real life inspired business and career stories outlining the progression of a business start-up and providing insight to the decisions you must make along the entrepreneurial path. We will take you from a career challenge to a spark of an idea and through all the steps to launch the start-up.
Future stories will outline the situations and decisions through the growth and maturity phases, along with eventual sale of the company.
We will continue the series with the challenges associated with the transition into a new organization and your personal exit
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PRESENTATION OUTLINE
An Entrepreneur's Journey
The Start Up
Our presentations will take you from the spark of an idea, to the start-up, through the growth phases, to the sale of the company and continue with the challenges of transitioning into a new organization.
Future Founding President
A mother, home maker and wife.
Supplier can make the product, although
the design is slightly different and initial quantity is small.
Photo by oomlout
Large quantity order.
The supplier states a non-standard product require a
We predict large demand in the near future.
Can we increase the quantity as we grow?
Business is done their way.
The potential suppliers have an older industry mindset.
Photo by powerfocusfotografie
Terms and Conditions.
Purchasing direct from the supplier requires a contract with their
Photo by NobMouse
Discussion at home
Do others have these challenges?
From small beginnings.
Why the smaller project focus?
Come great things.
Photo by Brandon.Levinger
Market Research
Indicates a Great Opportunity!
What the heck is an MVP?
A Minimum Viable Product is the smallest thing you can build that delivers customer value along with returning insight and value back to you.
Can you give an example of an MVP?
A great tasting plain donut was offered, but customers made it clear, the market prefers donuts with different flavored icings and toppings.
How will you structure the business?
What do you mean? We're partners!
Legal and Financial impact.
Will you be an LLP or LLC? The choice has
Business structure vs. Organization structure.
These words sound similar, but they have different meanings. Business structure refers to the legal status of a company, such as sole proprietorship, partnerships or corporation, involving tax status and legal regulations
An organizational structure
is helpful to define responsibilities.
We're ready to Launch the Business!
We have the Product, Research, and Plan.
Photo by NASA Goddard Photo and Video
Basically what is the Business Model?
How will you create, deliver and capture value?
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we have immediate and free technical support.
If customers have additional questions
Precision.
Our Products will be known for
High Performance.
Our Product will also be known for
We will make returns or repairs fast and easy.
Despite the best quality, issues will occur!
Photo by W.D. Vanlue
Directly service customers, eliminate middle men.
What other ways will you make it easy?
Can we launch now?
Okay, we have outlined the Value Proposition.
Photo by NASA's Marshall Space Flight Center
Sales Engineering Talent
Customer focused and technically capable.
Raw Materials.
Stock of long lead time and special
Let's see, our costs and overhead are low.
The product conversion provides high value.
Yes we should be Profitable!
Photo by Great Beyond
If you are having challenges moving your business to the next level,
contact
Ferguson Global Consulting.
We bring success into focus in today's changing world.
FGC's expertise includes
- Sales Growth - Business Development
- Product Development
- Manufacturing Transformation
- Supply Chain Enhancement
- Talent Development and Recruitment
- M&A Due Diligence and Integration
- Global Expansion and Scale Up
Ferguson Global Consulting
Applied Business Knowledge
