Business Startup Basics Dell Gines, MBA, MSF, CEcD Econ Avenue Participant

About Econ Avenue Our Mission Mission Statement EconAvenue will create a healthy and dynamic economy in Northeast Kansas City, Kansas community. People will enjoy living, working and playing in Northeast KCK and feel that they have opportunities to grow and thrive.

What We Will Cover 1. How to determine if you are ready to start a business 2. Developing an entrepreneurial mindset 3. Choosing the business that is best for you

The Process of Ownership We are only focusing here Readiness & Ideas Research & Planning Resource Gathering and Launch Prep Launch Growth and Adapting to Reality

Everyone has the potential to own a business but not everyone has the ability. - Dell Gines

Are You Ready to Start a Business? Ownership is HARD WORK! Are you ready to WORK HARD? Ownership takes sacrifice, what are you willing to sacrifice?

Are You Ready to Start a Business? 3. Ownership requires risk. What are you willing to risk? 4. Ownership can be lonely. Are you willing to be alone? 5. Ownership requires resiliance and adaptability. Can you deal with setbacks and unforseen circumstances?

Developing an Entrepreneurial Mindset Employee Owner Set Schedule Work as Needed to Be Successful Paid at Regular Times Paid When You Earn Money Responsible for your “Job” Responsible for “Every Job” Don’t Have an $ Investment in the Company Risk Your Own Investment Money What are some other differences?

Key Mindsets Intelligent risk taking Creativity and problem solving High work ethic Continually learner Able to deal with instability Can work through set backs

Picking a Business that Fits You Because entrepreneurship is hard the easiest businesses to start are those in your areas of: Passion – Things which you enjoy, motivate you or you are committed too AND Strengths – Areas where you have skills or can develop skills rapidly

Passions List your top three passions. Examples - I love helping people start and grow businesses and non-profit organizations. I love the psychological and personal development side of helping people start and grow businesses. I love public speaking, teaching and training.

Strengths List you top three strengths Strategic thinking and organizing. Public speaking. Researching and building knew knowledge bases

Combining Your Passions & Strengths to Create Business Ideas I love helping people start and grow businesses and non-profit organizations. I love the psychological and personal development side of helping people start and grow businesses. I love public speaking, teaching and training. Strengths Strategic thinking and organizing. Public speaking. Researching and building knew knowledge bases.

Some Ideas that Emerge Business idea #1 An online consulting firm that helps where I help people strategically start and grow non-profits. Business idea #2 A research company that helps business owners do research on their market. Business idea #3 A business training company that conducts classes on how to start a business.

Passion Plus Strength All three of those are business ideas that combine my passions with my strengths. This is important because when you do what you are passionate about and what you have strength in it is easier to stay motivated through the process.

Next Steps 1. What do you need to know? 2. Who do you need to know? 3. What do you need to have?

Further Resources http://www.kcsourcelink.com/ www.moneysmartkc.org KCK Community College Entrepreneurship Center: 913-288-7388

Transform NE KCK Visit www.econavekck.org Join us the 2nd Tuesday of Each Month at First Baptist Church from 6pm to 8pm And help rebuild housing, workforce and small business in Northeast Kansas City, Kansas