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DEDICATION THIS BOOK IS DEDICATED TO ALL THE FAMILY AND FRIENDS THAT WERE AND ARE ENTREPRENEURS. PEOPLE THAT HAVE MADE THE EXTRA EFFORT TO ENSURE THAT THEY CONTROL THEIR OWN LIVES. FROM MY GRANDPARENTS WHO WERE ENTREPRENEURS AND HAD THEIR OWN BUSINESSES TO MY NEPHEWS THAT I AM CERTAIN THAT THEIR DESIRE TO HAVE THEIR OWN MONEY WILL ALSO BECOME ENTREPRENEURS. IT HAS BEEN THE LIMITLESS SUPPORT FROM MY FAMILY THAT HAS ENABLED ME TO MAKE MY LIFE MY OWN.

THESE PEOPLE HAVE ALWAYS ENCOURAGED ME TO WALK TO THE BEAT OF MY OWN DRUM.

DRUM BEATS WE ALL HAVE OUR OWN BEATS THAT ONLY WE CAN HEAR IT IS ALSO WHAT PEOPLE FEEL WHEN THEY COME NEAR OUR BEATS ARE WHAT DEFINES US, WHAT MAKES US WHO WE ARE IT’S WHEN WE TRY AND CHANGE THEM AT THE REQUEST OF OTHERS THAT WE FEEL THE SAME PAIN AS BEING HIT BY A CAR THOSE THAT ALL MARCH TO THE SAME BEAT ALL STUMBLE AND FALL WHEN ONE SINGLE PERSON TRIPS OVER THEIR OWN FEET IT SOMETIMES TROUBLES US BECAUSE NO ONE ELSE HEARS IT WE ASK IS IT US OR IS IT THEM WHEN WE TRY TO UNDERSTAND WHY BECAUSE IT IS IMPORTANT FOR US TO FIT IN SO WE CAN ALL LAUGH AND CRY

SO I WHEN I HEAR IT I KNOW THAT I AM HOME

WHAT I CAN DO IS COMBINE MY BEATS WITH THE OTHERS THAT I HEAR TO CREATE A BRAND NEW SOUND TOGETHER THAT WE ALL CAN ENJOY AND LISTEN TO ALL AS ONE WITHOUT FEAR

PAPIM-2012 PAPI-M-THOUGHTS.BLOGSPOT.COM

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Chapter: Developing Your Business Idea

I HAVE LEARNED THAT THE BEAT THAT I HEAR IS MY VERY OWN AND AM NOW HAPPY THAT NO ONE ELSE HEARS IT

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CONTENTS Developing Your Business Idea ...................................................................................... 4 The Goal of This Book..................................................................................................... 6 1. The Right Mindset ....................................................................................................... 7 Small Business Revisited! ........................................................................................... 7

Chapter: Developing Your Business Idea

Author Bio- Marc E. Parham ......................................................................................... 11

Copyright Š Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

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INTRODUCTION Why I wrote this book. I have been a consultant for over 20 years helping people all over the world start and run their own businesses. I have helped people start successful for-profit and non-profit businesses. I started working on this book by listing the questions that people ask me the most. What I came to realize is that many people started working on their business plans and/or taking training with little progress forward and became frustrated with the whole process. What I came to realize were two important points, One A great number of people lacked the confidence to get things started. They didn’t think they had what it takes to work on their own. Surprisingly a lot did not think they had the education and background to launch and sustain a successful business. Two

As I was developing the book I realized that my entrepreneurial training came from decades of people in my own family running their own successful businesses. We sometimes forget things that we learned as a child that are still with us today. I remember at age 10 my father taking me to find my first job. Then it was a series of paper routes, door to door sales, cutting grass and many other ways that I came up with to make my own money. My brother even recalls working for me, although I think I paid him with ice cream versus real money. This book will help you figure out how to evaluate your business idea and create an action plan to get you into business. Thanks for buying my book and Yes You Can Start Your Own Business!

Copyright Š Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

Chapter: Developing Your Business Idea

Most people jumped right into starting their business without taking the time to work on developing their business ideas. Most did not do the research and development to see if their ideas would work before investing money in training and setting up the business.

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YES I CAN – DEVELOP MY BUSINESS IDEA AND START MY OWN BUSINESS Written by Marc E. Parham, Business Development Consultant, Partec Consulting Group, marcp@partecgroup.com, www.partecgroup.com,

Developing Your Business Idea  Have you been thinking about starting a small business but are not sure where to begin?  Do you have a business idea that you want to develop?  Have you come up with a product idea that you want to bring to market?  Do you have a hobby or something that you already have been doing to make money and want to turn it into a small business?

If you answered YES to any of these questions

This book and the accompanying exercises will help you answer the basic questions to evaluate if your business idea can make you money. These questions are the basic questions that you will have to ask and answer as you move down the path of starting your business. They are by no means all the questions that you will need to answer but they will help you to begin to put yourself into the right mindset to move your business idea forward.

Copyright © Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

Chapter: Developing Your Business Idea

THIS BOOK IS FOR YOU!

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More people today have decided they want to their own small business. Some have decided because of a passion that they have always had others because of the current un-employment situation. Regardless the reason, many people have decided that it is time to take their ideas to action and start their own a business or organization. This book will guide you through how to ask and do the research to answer these questions in a way that makes sense to you. Upon completion of this book and the associated exercises you will have a good understanding of how to develop a business plan for your business idea. The purpose of this book is that you will learn how research and develop your business ideas and then take your Ideas to action to start your business.

1. Am I self-motivated and do I have the right mind set? 2. Why should I start a business? 3. Am I ready to start a business? 4. Do I need a business plan? 5. What are the most important task that I should focus on before I start my business? 6. What do I sell? 7. Who will be my customers? Who will be my competition? 8. How much should I charge? 9. How much will it cost me to start my business? 10. How do I develop my business idea? 11. How do I create an action plan to start my business? 12. How do I put it all together?

Copyright Š Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

Chapter: Developing Your Business Idea

The Basic Questions

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The Goal of This Book This book was designed to help you develop your business idea by breaking down the different aspects of developing a business idea into small individual segments. Once all segments have been completed the information can be used to develop a strategic business plan for your business. You will be able to use the information to do the following;    

To give you a better idea of what it will take for you to start and run your business To use as a foundation to develop a business plan To have discussions with potential investors or funders about your idea To do focus group or other forms of market research to test your idea

BOOK ORGANIZATION

 

 

The Main Book – This book contains the questions and discussions about the items described in the contents. Do This! – After most sections in the book there will be a sidebar labeled “Do This!” This sidebar contains exercises that as you complete them, will help you develop your idea. Online Tools – The surveys, templates, and other tools necessary to complete the “Do This!” are located on the Yes I Can Book Series Site or take surveys online. You will be emailed the results of any survey that you take online to add to the information that will be used to develop your idea. CapBuilder Network Website – This is a Capacity Builder Network site that contains articles, resources, online training and other important information. You can post questions and discussions about topics that are of interest to you. By purchasing this book you will receive the password to do the assigned work. You are encouraged to create your own user profile as the first step in preparation for doing the exercises.

Copyright © Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

Chapter: The Goal of This Book

This book contains the following features:

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1. The Right Mindset Before we began working on developing a new business idea I think it is important to have the right mindset. Please review the topics below that will help you get into the right mindset.

Are you self-motivated? Do you have the right mindset? SMALL BUSINESS REVISITED! Remember when your parents, uncles, aunts, relatives and other friends had more than one job. One of my uncles worked on cars and my grandmother did hair and other people did a variety of things to make money. They had a main job that they did during the day or night and then had something else that they did on the weekends and other free time. We have always been small businesspersons. We have always used our skills to take care of our families.

Do This! – (1) Entrepreneurship Family Tree Objective: Create a short list of family members and friends that have had a business or activity the generated legal revenue.

Activity: Use the form in the Do This Section to create a list of the first 4 people that you feel have been able to successfully generate money running a business or performing a specific activity.

Within the last few years something has changed!  People have been told that they only need an education, a job, a house, and a car and they will be living the American dream.  A dream that has been recently shattered by the current economic situation. People have done what they were told and now are losing everything that they worked so hard to get.

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Chapter: 1. The Right Mindset

Instructions: Page 36

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 They worked so hard for someone else!  The same someone who when the times got hard, took the money and literarily ran. It is time to get back to the things that made this country what it once was, people working for themselves, working together to create a safe and secure life for their families. I remember growing up that my father always had something else going on. He worked as a hospital administrator during the day but on the weekends and some nights he was a janitor at some of the high schools in the area. He would take my brother and I with him to work to help out. We thought it was fun. Had I known something about child labor laws back then I would have asked for a piece of the action, but knowing him he would have said “you know that pork chop that you ate last night for dinner? Consider yourself paid in full”

Small Businessperson or Entrepreneur?

 They both end up with a person taking the steps necessary to utilize their skills, knowledge and experience to create a business that produces revenue that they can use to take care of their responsibilities and control their lives. i

An entrepreneur ( /ˌɒntrəprəˈnɜr/) is an enterprising individual who builds [1][note 1] capital through risk and/or initiative. The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon.This term first appeared in the French Dictionary "Dictionnaire Universal de Commerce" of Jacques des Bruslons published in 1723. Entrepreneur in English is a term applied to a person who is willing to help launch a new venture or enterprise and accept full responsibility for the outcome. Source: http://en.wikipedia.org/wiki/Entrepreneur

Copyright © Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

Chapter: 1. The Right Mindset

There are many ways that people determine who is a small business person and who is an entrepreneur. You will find that people will spend a great deal of time debating over what the difference is. For the sake of getting you through this book I will list the definitions and you can figure where you fit, but the most important thing to consider about both definitions is that;

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What constitutes a small business varies widely around the world. Small businesses are normally privately owned corporations, partnerships, or sole proprietorships. What constitutes "small" in terms of government support and tax policy varies by country and by industry, ranging from fewer than 15 employees under the Australian Fair Work Act 2009, 50 employees in the European Union, and fewer than 500 employees to qualify for many U.S. Small Business Administration programs, although in 2006 there were over 18,000 "small businesses" with over 500 employees that accounted for half of [1] [2] all the employees employed by all "small business ". Small businesses can also be classified according to other methods such as sales, assets, or net profits. Source: http://en.wikipedia.org/wiki/Small_business

A few ideas to consider….  You may already have your own small business!  Do you have a hobby or something that you like to do that others have paid you to do for them?  If you have a job and someone is paying you to do work for them, you actually have your own small business. It doesn’t matter what you do but you do provide a product or service that someone is paying you for. You just don’t do any of the marketing, accounting, or the management of the business. You do the work and the business takes care of the rest.

 For example, we might have a job as a janitor for a company. In order to do our job effectively we have to use the basic skills of; 

Time management – If there is a whole building or floor to clean we must know how much time to spend in each area to get all of the work done in the time allotted.

Tools and Equipment – we have to know what cleaners to use on which surfaces and what tools to use to do the best job.

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Chapter: 1. The Right Mindset

 We sometimes take for granted the basic skills that we use to do our jobs. We sometimes don’t realize that even the most basic job requires a specific set of skills that can sometimes be transferred to another job or business.

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 You are not in this alone! You’re not in this alone! There are many people just like you that are looking to start their own businesses. There are a number of organizations that are here to help you achieve your goal of the starting your own business.

 You must have dedication and passion! You must have dedication and passion if you plan to be successful in this business. This has to be something that you would do if money were not the issue. It will not be easy but if you dedicate yourself and have passion you will be successful.

 You must develop and follow a plan! The most important thing is that you must develop and follow plan. Nothing more to say about this.

Chapter: 1. The Right Mindset

And…Yes You Can Do This!

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Author Bio- Marc E. Parham Marc E. Parham has been successfully consulting for all types of businesses for over 20 years. He has consulted for small to mid-sized business, large corporations, and nonprofit organizations in all areas of business development. He has certifications in Project management, Network Engineering, Non-profit Management and other areas of business development. Marc has made it his mission to help people start and grow their small businesses. He has created a successful business coaching program that has assisted many people in changing their lives. He is also available for speaking and training events. Please use the contact information below. Marc E. Parham

For more information about the Partec Consulting Group and other informative articles please go to www.partecgroup.com To learn more about starting and growing your small business Go to www.capbuildernetwork.com

Copyright Š Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

Chapter: Author Bio- Marc E. Parham

Website: www.partecgroup.com Email: marcp@partecgroup.com Linkedin: marcp@partecgroup.com Twitter: www.twitter.com/MarcEParham Website: http://www.marceparham.com/

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Chapter: Author Bio- Marc E. Parham Copyright Š Partec Consulting Group 2012 All Rights Reserved. No part of this document may be reproduced without written consent from the author.www.partecgroup.com

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This best- selling book written by Business Coach and Author Marc E. Parham and accompanying tools will help you quickly develop your busin...

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