Starting Your Own Business Myths, Musts & Mistakes Gayle Lynn Falkenthal, MS, APR President, Falcon Valley Group

Myths About Starting a Business It’s too risky in a bad economy I need a business plan first I need to be an expert I don’t have enough experience

Musts: Essentials to Success ( and sleeping well at night ) Get your financial ducks in a row –Cash reserve –Personal relationship with your bank. Start NOW –Business checking account & credit card(s) –Business line of credit –Home equity loan –Overdraft protection

Musts: Essentials to Success ( and sleeping well at night ) Establish your brand A few good men(tors) Make success real

Mistakes to Avoid Choose your clients carefully Set expectations from the start

Mistakes to Avoid Proposals VS plans Contracts: NOT an option

Mistakes to Avoid Don’t shortchange yourself Don’t undercut your pricing Invest in the best

Mistakes to Avoid Personal vs. professional identity. Distractions

Mistakes to Avoid Not asking for help –Outsource. Boundaries

Mistakes to Avoid Not trusting your instincts. –Chemistry is critical.

Now go get ‘em - you can do it!