Ready? Set … Go? or No Go?

Digital Safari Institute GreenBizz Project Getting Started … Create a unique product or service Create a unique product or service Conduct an opportunity assessment Conduct an opportunity assessment Design a Business Model Design a Business Model Write a Business Plan Write a Business Plan Secure Start-up Funding Secure Start-up Funding Get Busy! Get Busy! Launch! Launch!

Digital Safari Institute GreenBizz Project Your Idea and You Defining your idea Defining your idea – Answer: So what? – Answer: Who cares? – Answer: What’s in it for YOU? Make a contract with yourself to do what it takes to be successful Make a contract with yourself to do what it takes to be successful Seek outside guidance Seek outside guidance

Digital Safari Institute GreenBizz Project Getting Started … Create a product or service – Done! Create a product or service – Done! Conduct an opportunity assessment Conduct an opportunity assessment Design a Business Model Design a Business Model Write a Business Plan Write a Business Plan Secure Start-up Funding Secure Start-up Funding Get Busy! Get Busy! Launch! Launch!

Digital Safari Institute GreenBizz Project Opportunity Assessment 1. Assess the market 2. Research the competition 3. Look at possible locations 4. Research the permits and regulations 5. Ballpark the financial model 6. Conduct a SWOT analysis 7. Define next steps

Digital Safari Institute GreenBizz Project 1. Assess the Market Identify your niche Identify your niche Define your service/trade area Define your service/trade area Estimate the size: $$ and ## Estimate the size: $$ and ## Profile target customers: B2B or B2C? Profile target customers: B2B or B2C? – Who, habits, needs, income, accessible – Influences, purchasing decisions Estimate your potential share Estimate your potential share Note trends and seasonality Note trends and seasonality

Digital Safari Institute GreenBizz Project Sources of Data Primary data Primary data Secondary data Secondary data Trade journals Trade journals Personal experience & observations Personal experience & observations Talking with others Talking with others Visits to competitors Visits to competitors

Digital Safari Institute GreenBizz Project 2. Research the Competition Who’s doing what? Where? Who’s doing what? Where? What do they offer? What do they offer? How are they the same or different? How are they the same or different? How are they doing? Visit them. How are they doing? Visit them. What’s their share of the market? What’s their share of the market? How are they perceived? How are they perceived? What are their marketing channels? What are their marketing channels?

Digital Safari Institute GreenBizz Project 3. Look at Possible Locations What kind of space do you need? What kind of space do you need? How much space do you need? How much space do you need? Where could you locate? Where could you locate? What are the pluses and minuses? What are the pluses and minuses? What are the costs and terms? What are the costs and terms?

Digital Safari Institute GreenBizz Project 4. Check Permits & Regulations Business license Business license Zoning compliance Zoning compliance Environmental clearances / HazMat Environmental clearances / HazMat Safety considerations Safety considerations Operating licenses Operating licenses Reporting requirements Reporting requirements

Digital Safari Institute GreenBizz Project 5. Ballpark the Financials Formation costs Formation costs Start-up costs & investments Start-up costs & investments Equipment purchases Equipment purchases Operating funds Operating funds Personnel costs Personnel costs Marketing and advertising costs Marketing and advertising costs Ballpark sales and revenue Ballpark sales and revenue

Digital Safari Institute GreenBizz Project Show Me the Money! Personal savings Personal savings Credit Cards Credit Cards Credit Score Credit Score Equity in: Equity in: – House – Insurance policy – Retirement plan Family and Friends Family and Friends

Digital Safari Institute GreenBizz Project 6. Conduct a SWOT Analysis Internal: You and your business Internal: You and your business – Strengths – Weaknesses External: The market and economy External: The market and economy – Opportunities – Threats

Digital Safari Institute GreenBizz Project Resources on the Web NAICS/SIC Codes NAICS/SIC Codes Contra Costa Library Contra Costa Library CalGOLD CalGOLD InfoUSA InfoUSA Cal. EDD/LMI Cal. EDD/LMI Census Business Patterns Census Business Patterns ContraCostaMeansBusiness.com ContraCostaMeansBusiness.com

Digital Safari Institute GreenBizz Project Decision: Go? No Go? Do you have the funds? Do you have the funds? Will you be in compliance? Will you be in compliance? Is there a sufficient market? Is there a sufficient market? Will there be sufficient revenue? Will there be sufficient revenue? Is it worth your time and effort? Is it worth your time and effort? Decide: Go or No Go? Decide: Go or No Go?

Digital Safari Institute GreenBizz Project Getting Started … Create a product or service – Done! Create a product or service – Done! Opportunity Assessment – Done! Opportunity Assessment – Done! Design a Business Model Design a Business Model Write a Business Plan Write a Business Plan Secure Start-up Funding Secure Start-up Funding Get Busy! Get Busy! Launch! Launch!

Digital Safari Institute GreenBizz Project Your Business Model Decide: lifestyle or growth business? Decide: lifestyle or growth business? Decide on launch products/services Decide on launch products/services Identify all potential revenue streams Identify all potential revenue streams Develop a marketing strategy Develop a marketing strategy Design a plan for growth Design a plan for growth Develop a financial model Develop a financial model

Digital Safari Institute GreenBizz Project Getting Started … Create a product or service – Done! Create a product or service – Done! Opportunity Assessment – Done! Opportunity Assessment – Done! Design a Business Model – Done! Design a Business Model – Done! Write a Business Plan Write a Business Plan Secure Start-up Funding Secure Start-up Funding Get Busy! Get Busy! Launch! Launch!

Go For It!