The Fundamentals of

Starting and Growing

Your Own Business

Quadrant Business Management Group

 NOTICE
Quadrant Business Management Group (QBMG)
does not imply or guarantee any degree of
business success by using the information
contained within this document.

Any companies and/or references provided in this

document are examples only. QBMG assumes
no liability for the products, services or
information provided by these or any other
entities referenced in this document.

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
Finding the “Right” Business Think Sheet

Goals: What are your GOALS for starting your own business?
(Answer WHY you want to do this. What do you intend to achieve)
More family time ● Additional income ● Primary source of income ● Greater life flexibility ●
Family member care ● Independence ● Greater Security ● Long-Term Income

Your
Business
Passion

What activities
make you happy!!
Personal
Do you have a hobby? Do you Inventory
like helping people? Do you have a
specialized skill that you enjoy?
What do you enjoy doing? ● How
Create a business out of what you know and much time per day can/will you
enjoy and it will not even seem like work! All devote to your business ● Can you
that remains is deciding whether you start out afford to quit your job? If not, can you
on a part-time basis or go full out. Use your build a part-time business? ● What
Personal Inventory to help identify the type of type of personality are you?
business and your Goals to keep your Outgoing, reclusive, center of
Passion fired up. attention, behind the scenes?● Do
your prefer to work with/for a
company or start your own
© Quadrant Business Management Group – All Rights Reserved company?
Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
Business Type Guide
Business types are as individual as the business person. The
determination on what type of business to initiate is primarily driven by four
factors:
1.Own your own business or work for an established company as an
independent or franchisee.
2.The amount of time required to make and keep the business productive.
3.Finances - Whether you need to continue working while building a
business and/or have the resources to make the initial business investment.
4.Your individual skill set and level of experience (some ventures do not
require any previous skills or experience!)

Four Business Types:

• Direct Sales
•Network Marketing
•Product or Service Provider
•Franchise

How To Know Which One Is Right For You?

Do Your Research!
An overview of each Business Type listed is provided on the following
pages.

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
Franchise Opportunities
The advantages of owning a franchise operation is that typically, you
are starting with a company that has a track record. Consequently,
start up time is usually faster and the venture less risky (but not
always).

Because you belong to a company with multiple franchise operations,

purchasing power – the power of bulk-buying – can be leveraged.
Marketing, a major percentage of business costs, is usually done for
you (to greater or lesser degrees) or a marketing budget allocation
may be given.
Business support is inherent in franchise operations because
operational models and methods are provided by Franchisor.

Some Considerations
• Models and methods are provided by Example Franchises
Franchisor – you must adhere to their
• Real Estate
dictates
• Can be costly for well-known business • Carpet Cleaning
or service • Almost any business
• If less costly, most likely less known operation that can be
duplicated!
• You will most likely not have a say in
many matters
The above companies and references
are provided as an example and QBMG
assumes no liability for the products,
services or information provided by these
or any other entities referenced in this
document.

Franchise opportunities abound in almost every area of business.

One source is www.business.com.

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
Product & Service Provider
Independent Product and/or Service Provider businesses are frequently
started by people that turn a specific skill or hobby into a business.
These types of businesses are as diverse as the people themselves.
First and foremost, ask yourself what you LIKE to do? It makes little
sense to build a business doing something you dislike. It is not
uncommon for people to leave their corporate job to go off and start a
business doing exactly the same job they previously left.
Unfortunately, some discover that it was not working in corporations
they disliked – it was the job itself! When building a business, it is vital
to your success that you enjoy the endeavor. Imagine where the world
would be today if Bill Gates disliked writing computer code!

Example
Some Considerations Product and/or
• Start up costs will vary based on the Service Companies
business •Consulting
• You will be “blazing” your own trails
– business planning, •Computer training
advertising, marketing, etc. •Gift Baskets
• If product or adjunct services are •Hand-carved rocking horses
required, you will need to put
sourcing arrangements in place. •Marketing services
This can drive both the quality and •Day care providers
cost of your product or service.
• Licensing
– Does the service you provide
require a license or permit?
The above companies and references are provided
• Federal, state or local regulations as an example only and QBMG assumes no liability
– For products or services for the products, services or information provided by
these or any other entities referenced in this
document.

Do your research in the area you select before you get started. The
Small Business Administration, www.sba.gov, is a good source.

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
 Network Marketing
Network Marketing is one of today’s “hottest”
business models using an alternative to
traditional sales and distribution methods “If I had to do it all over again,
rather than build an old style
It bypasses the typical chain of wholesaler to type of business, I would
distributor to retailer and channels goods or have started building a
services directly from the manufacturer to the Network Marketing business.”
consumer through a ‘network’ of independent
consultants. Some companies allow Robert T. Kiyosaki
consumers to purchase wholesale – goods Author of "Rich Dad Poor Dad”
delivered directly to their door.

Some Considerations

• Start up costs can be minimal

depending on amount of stock that
must be carried, cost of marketing
Example
materials, etc. Companies
• You will need to market ‘yourself’
• Company – history, stability,
• Arbonne
reputation, products •
(consumables)
Shaklee
• What training and support is
provided – This can make all the • Amway
difference in your success
• Compensation plan – speak to Limu
realistic people who have been
with the company for a time
• Be prepared to build ‘SWEAT’ The above companies and references are provided
equity as an example and QBMG assumes no liability for
the products, services or information provided by
these or any other entities referenced in this
document.

One reference source is: “Network Marketing: Answers to Your Top 5 Questions” by
Rod Nichols, May 2006 issue of Entrepreneur.com.

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
 Direct Sales
Direct Sales typically involves promoting a product for sale directly from the
manufacturer. There is considerable overlap between Direct Sales and
Network Marketing, with many companies falling into both categories.
Advertising and marketing are normally provided – to varying degrees - as
are forms and business materials (at a cost).
The benefits of Direct Sales include having a business model that is already
done, inexpensive supplies (normally) and typically, a large number of
products available to represent.

Some Considerations

 You still need to market Example

‘yourself’ Companies
 How much training is
involved and what is • Fuller Brush
provided by the company Company
 Is there inventory that you • Tupperware
are required to carry and
what is the cost • Avon
 Validate company stability
and reputation
 Compensation plan – speak
to realistic people who have
been with the company for a The above companies and references are
time provided as an example and QBMG
assumes no liability for the products,
services or information provided by these
or any other entities referenced in this
document.

A source for Direct Sales companies is the Direct Selling

Association - www.dsa.org

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
Business Planning Basics
Business planning should be the first step in starting your own business. Business Planning
allows you to think through the Why, What, When, Where, and How aspects of your new
venture.

The following items should be addressed in your preliminary business planning activities.

1.Business Description – What products and/or services are you going to offer.
2.Motivation and Goals – Why do you want to start your own business and what do you intend
to achieve?
3.Target Market and Customers – To whom are you going to sell your products and/or
services.
4.Market Analysis – Is your target market growing, static or shrinking? Why?
5.Value Statement – What value will your product and/or service give to your customer. Will
that value be perceived as worth the price you will charge for the product or service?
6.Competitive Edge – Who are your top competitors and why will people buy YOUR product or
service.
7.Marketing/Sales Strategy – How are you going to market and sell your products/services?
What is the estimated cost of sales and marketing programs?
8.Internet (e-commerce) Marketing and Sales Strategy – How will you use the internet and
what are the associated costs?
9.Personnel Skills Assessment – What is your education background and work experience in
the business you plan to start? Are there skills you will need that you do not possess?
10.Office Location and Business Equipment Requirements– Located in home or leased
office space? Define all needed office equipment and associated cost. (e.g., desk, chairs,
phones, computer, fax, internet, printer, etc.)
11.Business Name and Registration – What type of business organization will you register as-
Sole Proprietor, Limited Liability Corp (LLC), Corporation, etc. Each type of organization has it
own rules of operation. Understand what these are.
12.Licenses, Permits and Insurance– What license, permits and insurance are needed to
operate. What is the associated cost?
13. Cost Analysis – What are all of my projected costs (fixed, variable, product, delivery, etc.)
14. Income Forecast – What are my projected revenues for the next set time period (typically
one year)
15. Cash Flow/Break-Even Statement – What will my cash position be after accounting for
estimated sales, costs and investments in my company. (typical time period is one year.) How
much do I have to sell on a monthly basis to breakeven?

This Business Planning Basics outline is not intended to serve as a

thorough business plan but as a preliminary guideline to help you
think through important business planning aspects.

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
Getting Started Checklist

Done Action Comments/Exceptions

Create a Basic Business Plan If seeking loan or investor
funding, a detailed plan is
required.

Create and Register Business Name Except if working for a

(DBA) company or some types of
subcontracting

Open a Business Bank Account Requires registered business

DBA

Select an Accounting Program or an Many available such as

Accountant Quickbooks, Quicken,
PeachTree or even Excel.

Create Company Logo Can be as simple as your

company name

Create Business Cards Remember, your business

You can create you own business cards but unless card represents you!
you can purchase professional grade card stock -
have them professionally printed

Create Company Stationary and Invoice

Statements Microsoft has numerous
You don’t need expensive software. Most word templates on-line that you can
processing software have ready made templates. download for free.

Set-up An Organized Filing System Absolutely critical to finding

In your own business, time is extremely valuable. what you need when you need
Don’t waste time looking for items or information. it.

Develop a Marketing “ATTACK” Plan Target customers, “elevator

speech”, promotional tactics,
sales aids, timeframes, etc.

Get Going! Remember, an object in

motion, stays in motion.
Your business will only move as rapidly as
the energy you devote to it.

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.
Success Points to Ponder

1. Understand WHY you want

your own business and
keep that foremost in your
mind
2. PLAN Your Business
– Create and Use a and Marketing
Business Plan Plans Are Your
– Create and Use a Roadmaps!
Marketing Plan
3. Set and focus on
Achievement Goals and IF YOU DON’T KNOW WHERE
Milestones YOU ARE GOING – How will
4. Set-up Periodic you know if you are headed in
Checkpoints and adjust the right direction?
your course as necessary
5. Build in Rest Stops along
the way
6. Stay Focused and
Energized
HAVING GOALS IS NOT
ENOUGH
Goals should be action plans that
are documented and specifically 70% of Written
Goals Are
address:
Think SMART Achieved
1.WHAT YOU WANT TO
Make Your Goals…
ACHIEVE Only 7% of
Unwritten Goals
2.WHEN YOU WANT TO Are Achieved
S = Strategic ACHIEVE IT
M = Measurable
A = Achievable 3.HOW YOU ARE GOING TO
R = Repeatable ACHIEVE IT
T = Timely

Objectives Goals Actions Results

© Quadrant Business Management Group – All Rights Reserved

Helping Businesses Grow
QBMG does not imply or guarantee any degree of business success by using the information
contained within this document. QBMG assumes no liability for errors or omissions.