Business Start-up
Jose Cintron, MBA-CPCBusiness/Accounting Professor
[email protected](954) 374-8298
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Are you ready for this?
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Why Start a Business?
To Capitalize on an Invention or IdeaTo Pursue a PassionTo Be Their Own BossTo Get Rich $$$
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Why people don’t try?
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Are you ready to take the risk?
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You build it and the will come, Right?...Wrong!
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What are the chances???
Statistics show that 8 out of 10 new businesses fail within the first three years.
?????????????????????? 80% of new businesses fail within their first three years.
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How you get the Financial Freedom?
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Why Business Fail ?
1. Wrong reasons2. Poor Management3. Insufficient Capital4. Location, Location, Location 5. Lack of Planning6. No Clue/No help/Guidance7. Wrong/No marketing
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Why Business Fail ? Sales
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Customer Service/Satisfaction
SandwichEgg and Ham $4
Egg and Cheese $4 Cheese and Ham $4
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What is your Target?
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The egg or the chicken?
Business is not the dream but the vehicle to get where you want to go.
“I Have A Dream” NO- “I Have A Plan”
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Funding Sources $$$
Savings-401kRefinanceFriends and FamilyFinancial Institutions Angel Investors
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What vehicle do I need to reach my destiny?
Going to Orlando, FL Going to Las Vegas, NV
Around the neighborhood
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Where are you going?
If you don’t know where you going any road will take you there!
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What is the Trend ?
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We will not go back to doing business the way we used to in the past!
Businesses
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We will not go back to doing business the way we used to in the past!
Government
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We will not go back to doing business the way we used to in the past!
City
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Where is the Money ?
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What is your product?
Farm $1.00 Supermarket $3.00
Restaurant $6.00
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What is your service?
ConsultingCoaching Classes Training
Selling Installingwarranty Servicing
You do it for multiples
business owners
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What kind of business?
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Lets Analyze….
Products/merchandise Services Market and NicheContribution Margin
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Did you answered, Yes?
Do you have a great product?Do you have an awesome Price/value?Do you have clientele or email list?
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Products-Volume
1 X $10,000 10,000 X $1
What is your “Business Model”
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Services
High End ClienteleLow End Clientele
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Target Market and Niche
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How to increase sales
Incrementar Clientes
Incrementar el monto de compra
Incrementar repetición o número de veces.
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BEP and Contribution Margin
Fixed Cost- $10,000(Rent, insurance, manager, interest…)Variable cost- $800/ea (Hourly, commission, inventory…)Sales are $1,000 per unit
$1,000-$800=$200 Contribution Margin
$10,000/$200=50 units to BEP Fixed Cost/Contribution Margin.
$10,000+5.000=$15,000/200=75 units to make a $5,000 profits.
$50,000X10%=5,000/12=416 interest per month.
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Life’s too short for the wrong job.
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Are you doing what you love?
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You must be competent
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You must be creative!
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Why Customers Buy?
Customer does not buy for the characteristic but for the benefits.
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What’s for me?
WhiteningBad BreathCavitiesPlaqueWeak EnamelTender GumsGingivitis
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What is your business name?
Pedro’s Restaurant----------Mexican Restaurant
Pedro’s Haircut--------------Haircut 4 Less
Miami Taxes-----------------Taxes R us
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Email and URL
[email protected] NO [email protected] YES
http://sylviescreation.com NO or http://jewelrybysylvie.com
http://Pedrosshop.com NO or http://autorepair.com
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Conclusion
Entrepreneur Working for someone else!
