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					              STARTING A BUSINESS…




               Can you Beat the Banker?

            AIA NEW MEXICO
   BUSINESS SEMINAR FOR ARCHITECTS

                       March 23, 2007




Presented by: Renee Barela-Gutierrez, MBA, JD
                                                1
So, you want to start a business… You’ve worked hard, you know your
trade, but ………

                     CAN YOU BEAT THE BANKER
                               AND
                       MAKE THE BEST DEAL?

Consider the following briefcases:




                 Case number 1: Why do you want to start a business?




                 Case number 2: Choosing the right legal entity.




                 Case number 3: Insurance and taxes.




                 Case number 4: Finance and Marketing.




                 Case number 5: Contracts and other Legal issues.




                 Case number 6: Beat the Banker



                                                                       2
               Case number 1: Why do you want to start a business?




   Personal Reasons

   Business Reasons




                           The Banker’s Offer:
                                   You’ll make a lot of money
                                   You’ll have lots of free time
                                   You need to make something
                                     unique to make money
                                   Most new business’s fail within 2
                                     years




Beating the Banker:
          Do it for passion not money
          Do something you know about
          Know your market
          Acquire sufficient capital
          Plan
          Plan
          Plan
          Plan



                                                                     3
                 Case number 2: Choosing the right legal entity.

     Sole Proprietorship
     Partnership
     Corporation
     LLC
     LLP
     FLLP
     PC




                             The Banker’s Offer:

                                       You will have complete control
                                       Your partner will share in the
                                        work
                                       It takes very little record keeping




Beating the Banker:
          Limit your liability
          Clearly define control and decision making
          Document the business relationship with a written agreement




                                                                              4
                 Case number 3: Insurance and Taxes.


     Professional Liability Insurance
     Project Insurance
     General Liability/Commercial Liability Insurance
     Property Insurance
     Other

     New Mexico Gross Receipts Tax
     Withholding Tax
     Self Employment Tax
     Income Tax
     Other




                              The Banker’s Offer:

                                        You don’t need insurance
                                        If it’s a cash transaction, you
                                         don’t need to record it
                                        Record keeping, schmeckord
                                         keeping




Beating the Banker:
          Find a good accountant and follow their advice
          Follow the rules
          Keep great records




                                                                           5
                Case number 4: Finance and Marketing.

   Debt Financing
   Equity Financing

     Customer
     Product
     Price
     Place
     Promotion
     Competitive Advantage




                              The Banker’s Offer:

                                       Just borrow from your credit card
                                       Debt financing is best; you’ll pay
                                         it back
                                       To market your product you just
                                         need to advertise; after all
                                        selling is marketing.



Beating the Banker:
          Understand the principles of finance
          Find a good accountant
          Take the time to produce a marketing plan




                                                                         6
                 Case number 5: Legal issues.


     Contracts and written agreements
     Employment
     Intellectual Property
     Forms
     Compliance
     Permits and Licenses
     Dispute resolution
     Mediation
     Litigation




                              The Banker’s Offer:

                                       You can handle contracts and
                                        other agreements yourself,
                                       In a pinch, any lawyer will do




Beating the Banker:
          Find a good lawyer and follow their advice
          Build an ongoing relationship with a lawyer




                                                                         7
                      Case number 6: Beat the Banker

                              BUSINESS PLAN OUTLINE

Summary
       Business concept
       Current situation
       Key success factors
       Financial situation/needs
Strategy
       Key competitive capabilities
       Key competitive weaknesses
       Strategy
       Implementing strategy
Marketing Plan
       Market segments
               Target market and customers
       Customer Analysis
               Customer needs
               Customer buying decisions
       Product/service description
               Positioning of products/services
       Pricing Decisions
       Distribution
       Promotion
               Sales tactics
               Advertising
               Promotions/incentives
               Publicity
               Trade shows
Operational Plan
       Key personnel
       Organizational structure
       Human resources plan
       Customer service/support
       Facilities
Financial Plan
       Assumptions and comments
       Starting balance sheet
       Profit-and-loss projection
       Cash flow projection
       Balance sheet projection
       Ratios and analyses
Supporting Documents


                                                       8
Now you have the knowledge you need to make the best Deal. So………..
I have one final question for you:




                                    Renee Barela-Gutierrez, MBA, JD
                                                      505-249-3675
                                   PO Box 3007 Corrales, NM 87048
                                             bglawfirm@justice.com

                                                                  9
                             AIA NEW MEXICO
                    BUSINESS SEMINAR FOR ARCHITECTS

                                       March 23, 2007




          Resources that help Beat the Banker
IRS Small business
http://www.irs.gov/businesses/small/index.html


New Mexico Small Business Development center
http://www.nmsbdc.org/nm_resources.html


Small Business Administration
http://www.sba.gov/nm/


Small Business Resources New Mexico (HUD)
http://www.hud.gov/offices/osdbu/resource/guide/local/nmexico.cfm


New Mexico Business Journal
http://www.bizjournals.com/albuquerque/


Findlaw Resources for small business
http://smallbusiness.findlaw.com/


National Federation of Independent Business
http://www.nfib.com/page/homeNM.html

                                                        Renee Barela-Gutierrez, MBA, JD
                                                                          505-249-3675
                                                       PO Box 3007 Corrales, NM 87048
                                                                      bglawfirm@justice


                                                                                    10

				
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