Are you good at paperwork, bookkeeping and details? How are you at sales? Can you wait for your money? What about the same old same old, week after week? Are you ready for the physical effort? Do you have a supportive family? Can you commit the time and capital? Starting a Business Before beginning a career as a direct marketers, ask yourself the following. Powerpoint animation notes: Click once to initiate talking points and to exit.

Starting a Business 600,000 new businesses are started each year in the US. –56% fail within 4 years 1. What can you do to determine if your business idea will succeed or fail before you invest lots of money? 1. US Small Business Administration, FAQs Powerpoint animation notes: Text will scroll on its own. Click to exit.

Common reasons for early business failure Lack of planning and discipline Lack of capital Doing it all is difficult Inadequate attention to quality & customer specs Inadequate attention to marketing Failure to adequately review risk Failure to use all resources available Starting a Business Powerpoint animation notes: Text will scroll on its own. Click to exit.

A business plan clearly identifies all aspects of a business venture including: Organizational structure Description of business Goals Management experience Competitive review Regulatory constraints and requirements Marketing plan including –  Overall strategy, products, pricing, promotion and placement Production/operation considerations – how the business will operate  Inventory  Quality control  Raw materials  Fixed assets Financial information  Income statement  Cash flow statement  Balance sheet  Breakeven analysis Starting a Business Powerpoint animation notes: Text will scroll on its own. Click to exit.

Starting a Business Seafood ventures that likely do not require a business plan –Switching processors you sell to. –Changing your operation to improve quality. –Buying a new permit. –New boat and new species? Seafood ventures that likely do require a business plan. –Moving into processing/marketing. –New boat and new species? –Buying expensive IFQ. Powerpoint animation notes: Click through each talking point and to exit.

Starting a Business Alaska’s Small Business Advisors Alaska Small Business Development Center 430 W. 7th Ave. Ste. Anchorage, AK (907) (800) Toll free outside Anchorage (907) Fax 5 locations and a rural outreach coordinator Alaska Business Development Center, Inc Arctic Blvd. Suite 203 Anchorage, Alaska Phone (907) Fax (907) Alaska Department of Commerce, Community & Economic Development Office of Economic Development 550 West 7th Ave., Suite 1770 Anchorage, AK (907) (907) (fax) Alaska Regional Development Organizations There are eleven (11) ARDORs throughout Alaska that work to stimulate economic development. Visit the following Department of Commerce site to learn more - or.htm/ There are several other local and Native organizations that provide direct one-on-one business counseling. Call a MAP agent for more contacts in your area. UA/Center for Economic Development Diplomacy Building, 5th Floor 507G 3211 Providence Drive Anchorage, AK Phone: (907) Fax: (907) Powerpoint animation notes: Text will scroll on its own. Click to exit.