Presentation

THE ENTREPRENEUR

BLUEPRINT FROM IDEA TO PROFITABILIT Y

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You have an idea and you’re sure it is the perfect solution to the world’s problems, so you jump into action.

This is where many brand new entrepreneurs make their first mistake. Creative minds

jump to the creative part of the process and immediately start thinking of a name a

logo and how they will execute.

Many creative entrepreneurs will sink time and money into the best idea ever only

to find out that the world didn’t have the problem they were trying to solve.

On the next page, I have provided a visual diagram of the exact steps that need to be

taken from IDEA to a profitable organized business entity. Following the diagram is a

brief explanation as to why these are the correct steps.

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IDEA

validation

business plan

entity formation

sales and marketing

operations

accounting and finance systems

product

prototype and test sale

presale

service

FROM IDEA TO PROFITABILIT Y

My idea is:

_____________________

_____________________

My ideal customer is:

_____________________

_____________________

My product/service is:

_____________________

_____________________

I have validated my

idea through

research

I have validated my

idea by selling

____________ at

$ __________ price.

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VALIDATION

This is the step where you perform market research. The research is intended to

determine if a market exists for the solution you are providing but also to determine

if the solution already exists in the marketplace. You can still enter the market if there

is another product or service out there but you need to identify how to differentiate

yourself from the competition.

PROTOT YPE & TEST SALES OR PRE-SALES

This is a subset of validation but entails actually getting customers. Your market re-

search will only prove so much, you need people to demonstrate that your research

is valid. This is a very small test and you are not yet running a business, so don’t worry

about the fact that you don’t have a business setup yet. You don’t need a business

name, logo or website either. If you can’t sell a few of the products or a small amount

of services, how do you expect to amplify that?

BUSINESS PL AN

Without a proper plan, you have no direction for your business and more importantly,

you have no idea if you are prepared for this business to start. When you don’t make

a proper business plan, you have no idea how much money you need until your busi-

ness gets to profitability. If that number is more than you have to invest, you’ll figure it

out when all of your money is gone. If you achieve early success, you will then be lost

and scrambling to come up with a plan, by doing it at the onset, you are just follow-

ing your blueprint.

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ENTIT Y FORMATION

This step has legal and tax ramifications. It is essential to at least understand the risks

and benefits of the options to determine if action needs to be taken now or not. For

many entrepreneurs, operating as a sole proprietorship using their own name and

social security number is a perfectly acceptable entity formation, however, there are

also many exceptions. Before selling your product or service and before generating

the bulk of the revenue and expenses for your business, you want to make sure to

analyze this step.

ACCOUNTING AND FINANCE SYSTEMS

Where will you put your revenues when you generate a sale and how you will pay for

your business expenses? How will you track all if the funds coming in and out of your

business? Will you be billing your customers? How will you know how much money

you have outstanding in receivables? This step could be as simple as a bank account

with a debit card and an Excel spreadsheet (although I don’t recommend this method

for an accounting system). The key here is to come up with a system and implement

it. If you begin generating sales and expenses, the longer you wait to have an

accounting system, the bigger the job of entering everything into the system

will become.

SALES AND MARKETING

Surprisingly, now is the right time to start branding, marketing and selling. That is not

to say that you haven’t been building relationships and letting people know what you

are working on until now. However, this is when it is time to choose your business

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name, register a domain name, build a website, run advertisements and start selling

your product or service. This is the most challenging step for the new entrepreneur

because it is when you will get overwhelmed as you try to do everything yourself. The

key is to get to the next step as soon as possible.

OPERATIONS

This is where you provide your service and/or deliver on your product offering. All of

the tasks involved in running your business happen here, including human resourc-

es, accounting and back office, shipping and receiving, etc. Operating your business

with a business mindset is the key here. You can only wear so many hats and you only

have so much time in the day. Designing systems and outsourcing all the tasks that

you can is the key to growing your business. If you could prevent yourself from with-

drawing money from the business in the early months and use revenues to outsource

as much as possible you will significantly accelerate the growth of your business.

About DreamBuilder Financial

DreamBuilder Financial, LLC is a full-service accounting and business strategy com-

pany. We specialize in taking new and soon-to-be entrepreneurs through the busi-

ness creation process. According to the Small Business Administration, 90% of new

businesses fail in their first year. We attribute that to failing to validate your idea, lack

of a business plan and poor reporting capability from lack of an accounting system.

Our goal is to educate our clients before they make these mistakes so that they can

be positioned for continued success.

About Moshe Amsel

As a young adult, I was disappointed with the lack of availability to good financial

knowledge for inexperienced individuals. Starting DreamBuilder Financial was always

my vision even as I detoured through a career in IT. As a manager of IT departments

and projects at various companies I gained knowledge and expertise necessary to

provide clients with a well-rounded business strategy. I studied accounting and fi-

nance and graduated from SUNY Empire State College with a B.S. in Accounting and

from Keller Graduate School of Management with a MBA. I founded DreamBuilder

Financial in January 2015 and I am excited to have the ability to share my knowledge

and expertise with you as I grow my team to change the business financial landscape

for new entrepreneurs.

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