High Level Outline of Steps in Starting a Business - Discussion Outline
|
Representative Task List. Each Client Has An Individual Implementation Plan
1. Determine if You Are Willing to Pay the Price. 1.1 Decide if being in business for yourself is for you. a. This is primarily the entrepreneur’s decision. MSII personnel may confer and advise but the final decision is individual. 1.2 Determine what business you want to start a. This is primarily the entrepreneur’s decision. MSII personnel may confer and advise but the final decision is individual. 1.3 Develop an initial business plan a. MSII is able to provide templates and guidance. We work interactively with the entrepreneur to minimize the time to develop the initial business plan. This is the first of several iterations of the business plan. 1.4 Evaluate the potential of the business you want to start. a. MSII is able to provide comparative financial from existing business. This is aggregate data from several firms of the same projected size and industry. No individual firms are identified. The entrepreneur may determine if their expense and revenue assumptions are aligned with existing businesses. 1.5 Review your business plan with an expert. a. MSII is able to provide an experienced business expert to work with you to be ready to present your business plan to employees, investors, banks and others. 2. Take Care of the Basics 2.1 How much money do you need? a. MSII’s Experts will work with you to determine how much financing you will need to achieve breakeven and positive cash flow. b. MSII is able to assist in finding financing and preparing for presentations to investors. 2.2 What are your options for financing? a. MSII is able to assist in identifying financing options and preparing for presentations. Our preferred option is to bootstrap. 2.3 What is the appropriate business organization? a. MSII is able to assist in determining the appropriate organizational structure for your business. It may be a sole proprietorship, partnership, LLC, S-Corp or C- Corp. We are not accountants or lawyers, we are business people! This means we recommend the simplest structure possible. b. MSII will also assist in determining where your Corporate home should be. If a large part of your revenue is outside certain states then the selection of a corporate home is critical. You do not need to be a resident of the State where your company is domiciled. 2.4 What licenses and permits are required? a. MSII is able to assist in determining what licenses and permits are required and take care of preparing the paperwork for the appropriate licenses and permits. b. The principals of the business will sign the appropriate documents. 2.5 MSII is able to advise regarding required insurance and solicit quotations. a. MSII is able to prepare the necessary applications and paperwork for insurance for principal’s signature. 2.6 Communication tools and Social Networking a. MSII will work with principals and outside experts to determine appropriate internal and external communication tools. b. MSII will work with the Principals to determine the appropriate social networking approach. 2.7 Buy vs Build a. MSII will assist in determining the buy vs. build payoff for tools and capabilities. 3. Determine what the market says your business should be. 3.1 Test concept with real customers. a. MSII provides assistance to founders in presenting concept to real customers. b. MSII provides assistance in defining and developing a Minimum Viable Product (MVP). c. MSII is capable of providing project management oversight and product development. 3.2 Pivot concept to meet market demand. a. Based on customer responses MSII will assist founders in determining the correct pivot to meet customer demand. 3.3 Determine business location. a. MSII provides assistance to founders in determining business location and provides assistance in negotiating leases. b. MSII assists in managing equipment acquisition and installation. 3.4 Establish infrastructure for collecting money and delivering product or service. a. MSII assists in defining written infrastructure requirements and specifications, b. MSII provides templates to solicit bids for infrastructure support. c. MSII may recommend the appropriate vendors. d. MSII is able to supervise the implementation and training of infrastructure tools. e. MSII assists in monitoring infrastructure performance. 3.5 Set up accounting and management reporting. a. MSII will assist in defining accounting and management reporting requirements. b. MSII may recommend appropriate accounting and management reporting vendors. c. MSII may provide project overview accounting and management reporting implementation. 3.6 Establish banking relationships. a. MSII is available to assist in establishing banking relationships. 3.7 Create website with e-commerce capabilities. a. MSII may assist in creating initial web site specifications. b. MSII can provide supervision for initial web site specifications. c. MSII may provide web site and e-commerce test and monitoring. 3.8 Create an employee manual. a. MSII has Employee Manual Templates. 3.9 Hire employees, a. MSII is able to assist in hiring employees. 3.10 Implement management structure. a. MSII may provide assistance and guidance in developing a management structure and reporting system. 3.11 Implement a continuous service and/or product improvement process. a. MSII has the capability to assist in the development and implementation of a continuous productivity improvement system. The preceding list of tasks may seem overwhelming but with the right guide it becomes much easier. To engage your Guide click Button to go to Getting Started. |
Entrepreneur Role
Primary Primary Primary Joint Joint Joint Joint Primary Joint Primary Approval Decision Primary Decision Decision Approval Approval Approval Primary Approval Determine Changes Primary Approval Joint Your Next Task |
MSII Role
Coach Coach Coach Joint Joint Joint Joint Coach Joint Coach Implement Recommend Support Recommend Recommend Implement Implement Implement Recommend Implement Provide Template Recommend Implement Joint |