Ep. 2: The Basics to Starting a Business (Part 1)
When setting your business up for the first time it is extremely important & imperative to structure your business correctly.
This sets you up for success and opportunities in the short term and saves you from costly mistakes in the long term.
In this episode, I will speak with business consultant & strategist, Coach Jean’ Austin to walk you through the best way to set up your business, discuss common mistakes to avoid, and offer you tips to put your business in a position to win in the future.
This is a much-needed in-depth conversation so as always, bring your pen, pad, and open mind for this discussion.
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• Visit https://NAICS.com and begin to search your own industry by name(s)
• Start attending your local SBA, Chamber of Commerce, Local Government Procurement, SCORE & Apex Accelerator meetings.
• Go to BIZBUYSELL and see what businesses are for sale in your market
To get in touch with Coach Jean’ Austin:
Visit – https://bankready.ai
Follow his socials:
LinkedIn • https://www.linkedin.com/feed/update/urn:li:activity:6953104391335776256/
Threads • https://www.threads.net/@coachjeanaustin
Instagram • https://www.instagram.com/coachjeanaustin/
PowerNomics – https://tinyurl.com/b7yhm43z
DOWNLOADABLE MATERIALS (process map, and task checklist) Click the link:
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0:00 – Countdown
8:31 – INTRO & recap of Ep. 1
10:55 – Intro of Coach Jean’
11:50 – Market research (NAICS codes)
15:59 – Research the top 5 – 7 revenue-generating companies
17:51 – Government contracting
20:25 – Get a SCORE mentor, and attend SBA, Chamber of Commerce…
32:52 – Additional resources
38:40 – Write a business plan
46:45 – Coach Jeans’ early failures in entrepreneurship
49:25 – Should you save up money before starting a business?
52:18 – Coach Jeans’ successes in entrepreneurship
56:56 – RECAP
58:51 – (Recap) Establishing NAICS codes
1:03:50 – (Recap) Research the top 5 – 7 companies
1:04:10 – (Recap) Visit your local SBA office, etc
1:05:37 – (Recap) Go to BIZBUYSELL and see what businesses are for sale in your market
1:06:39 – (Recap) Get a SCORE mentor
1:08:09 – (Recap) Visit SBA.gov & Score.org
1:10:10 – How to connect with Coach Jean’
1:13:37 – Closing thoughts
1:15:54 – Recommended book
1:17:35 – CONCLUSION