20 Questions to Answer Before Starting a Business
So you’ve got what it takes to be an entrepreneur?
Now, ask yourself these 20 questions to make sure you’re thinking about the right key business decisions:
1. Why am I starting a business?
To serve the Jefferson County Missouri Community. Revised July 2, 2014
To develop and market my personal brand of education and educational services and resources.
2. What kind of business do I want?
The average citizen in Jefferson County Missouri. Revised July 2, 2014
Clients in need of custom instructional, organizational, management or consulting services.
4. What products or services will my business provide?
PROJECT COORDINATION
Custom projects involving analysis of educational programs, services, procedures, and results.
PHOTOGRAPHY
Discount Photography services (commercial, portrait, occasion, family, event, and party)
For Publications (displays, student published media, pamphlets, flyers, brochures, postcards, educational materials)
CONSULTATION
Collaboration with educational professionals to address performance, sustainability, and support problems.
Coordinated PBLs using community resources with educational opportunities.
Custom Family, Learner and Educator Modification Plans and Instructional Support Programs
KEYNOTE SERVICES
Speaker on Educational Issues, Student Rights, and Character Development
Hosting Discussion Groups, Study Groups, Event Host
Motivational Speaker
Professional Development Speaker
Presentation Voice Over
Storytelling
Continuing Education Instruction
Intensive Instructional Assistance and Tutoring
PLC Team Speaker
5. Am I prepared to spend the time and money needed to get my business started?
I am in the planning stage right now. I am willing to commit 5-7 hours a week on this.
Capital is currently unavailable.
6. What differentiates my business idea and the products or services I will provide from others in the market?
Services are personalized. Services are provided at a discount. Services are distinct because of my personal philosophy and brand.
7. Where will my business be located?
Currently the business is "on site" and home based. Services are available online and in person by appointment.
In five years maintain a small office in the commercial or business district of area community.
8. How many employees will I need?
Three: Myself, the assistant, and the administrative assistant Revised July 2, 2014
Capital is not available to employ others, however consultation may include referrals and outsourcing if custom services require further support.
9. What types of suppliers do I need?
legal
advertising and marketing
insurance
accounting and banking
office supplies
film processor and printer
information technology
wireless networking and mobile communications
data storage and back-up
printer
paper supplier
party supplier
10. How much money do I need to get started?
ESTIMATED COSTS
$1000 for sports and portrait camera
$1500 for mobile photo booth
$1500 for DJ and Recording Equipment
UNKNOWN Insurance
UNKNOWN Accounting
$500 mobile data services
$1100+ for 1st years office rent, (based on 2013 commercial space rates)
$500+ for 1st year's utilities (based on 2013 commercial space rates)
$1000 for advertising and marketing (based on 2013 commercial space rates)
PROJECTED
$20,000 for Assistant
$35,000 for Administrative Assistant
11. Will I need to get a loan?
Yes, and grants.
12. How soon will it take before my products or services are available?
Many services are available immediately. 2 weeks notice is required for custom services.
13. How long do I have until I start making a profit?
Projected 3 years from now.
14. Who is my competition?
None, my services are unique because of their personal nature.
15. How will I price my product compared to my competition?
Prices are set at cost + 10-25% for my own salary.
16. How will I set up the legal structure of my business?
Through a business lawyer.
17. What taxes do I need to pay?
As determined by accountant and SBA or BBB.
18. What kind of insurance do I need?
Liability
Personal Injury (minimal)
19. How will I manage my business?
Hands On, by contract.
When staff is needed they are harvested and hired by contract as needed or outsourced as independent contractors.
Administrative Assistant and personal assistant will work directly with me so must be supportive and cooperative. Both positions could become collaborators.
20. How will I advertise my business?
Grassroots Promotion
Flyers, posters, job boards, classifieds, online
Local Media
Business cards, flyers, brochures, newspaper, greeting cards, postcards, word of mouth, internet, phone/email list, commercial customer marketing such as shopping carts, place mats, table cards, and community event sponsorship.
To develop and market my personal brand of education and educational services and resources.
19. How will I manage my business?
Hands On, by contract.
When staff is needed they are harvested and hired by contract as needed or outsourced as independent contractors.
Administrative Assistant and personal assistant will work directly with me so must be supportive and cooperative. Both positions could become collaborators.
20. How will I advertise my business?
Grassroots Promotion
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