Welcome to the quick course sprint from zero to start. And nine quick steps, we'll go through what it takes to start with an idea and get a business launched. I'm glad you're here, and means you're serious about considering starting our real new business, and it means you're also in a hurry. In the next few minutes, I'll show you the major steps to get ready for launching that business of yours. These are the same steps that the best of the bunch called serial entrepreneurs have taken on their way to success. So let's get going.

You've got a lot to do. Well, that's good news. You'll be busy converting from your idea to dreams into reality. Preparing for an outstanding business launch, reducing risks and increasing potential avoiding mistakes encountered by predecessors and applying bold methods used by startup veterans. Here we go. First ask yourself, are you ready to do your startup?

It's a vital decision. I revealed some of the tricks to making that decision in the session entitled Should I do a start up now? There's no charge for it. For best results, be sure to do that session before proceeding much farther. You can find it start one now calm. Think of it as preparing for the Olympic team tryouts.

That's certainly important and it's worth taking the time to go through it. It increases your chances of success. Do that session and you'll see what I mean. Veteran entrepreneurs agree knowing your answer to Am I ready to do a startup is the most important part of figuring out your plan for a startup. Now, I'll proceed as if you've made that important decision because then you'll know you are ready to do a real startup. Okay, ready.

Second question on timing. Is the market ready? market is that space you intend to sell in Let's ask a couple of real simple questions. Is it open? meaning there's no giant gorilla dominating it yet that you'd have to fight with somebody like a Facebook? Is it large enough for other competitors, including yourself?

A giant doesn't have to own more than 30% of the market to be successful and dominate. There should be room for you in a new market, hopefully one that doesn't have any giant competitor yet. Third, are their customers eager for your offering? That would suggest that you've done a few simple surveys by talking to real people and found them excited about what you're planning on offering with the assets to are Am I ready? And is the market ready? You're ready to take the next step.

Let's think about tomorrow the future for your new business. But is your fourth thought more than like, Hey, I got other things to do. I gotta get going right now. Are you saying hey, forget thinking and planning stuff I want to get started immediately. Well, serial entrepreneurs have learned the value of thinking before doing. Now they're in a hurry to, but it's why they're so successful.

So let's do what they do with your idea by asking a couple of simple questions. How many people do you need in the first six months after you launch your business? How many people in the first two years? What product will those people produce? When will it be ready for sale? How will customers purchase it?

How much will your ideal customer be willing to pay for it? How much could you sell in five years? What's the process that you're going to use to prepare for and then launch a new business? What are its key milestones that timeline over two to five years? And how much will all of those people cost and the related expenses of operating the business? Your answers become the starting point where you will begin initial sketch of your idea.

As you're thinking about responses, you'll begin to sharpen your focus, alter your plan and start producing realistic numbers. Like a lump of clay, your idea for your new enterprise will be continuously expanded, shaped over coming days, weeks and months. That's part of the process of what's called doing a new enterprise. Your next step is to create a simple sketch of your thinking. This sketch should be done quickly and kept very simple. It's going to be a picture and words and numbers with a couple of graphics one or two.

A timeline will declare the dates of the key milestones you plan on achieving. And all together the sketch should stir exciting emotions. Begin your sketch here, simply write one paragraph for each of the following questions. Start by explaining what your idea is all about. Then add a paragraph about how you will make money. For instance, are you going to sell an app for children learning math over the internet, or supply train technicians to rapidly growing corporations or create a rapid response test for bird flu that you will patent in licensed to hospitals?

Finally explained in the paragraph why no one else is doing what you plan on doing? That's not too difficult is it? Now, there are a couple more remaining questions. Next, add a paragraph about the emotions. What does your ideal customer get very excited about in your offering? What makes them say wow, about your product?

And how large in dollars could your sales be in five years? Take a guess at first calculate a few numbers and then modify and refine it a bit. How much cash Do you think you'll need to get the first sale started? That will require more numbers about employees wages and expenses, and conclude with why you want to do this business. What is your motivation for considering doing this risky adventure? Everyone wants to know about 10 you're finished.

Now you have a simple handy sketch of your idea. How do you get legal? Well, you could begin to operate as you are right now just you yourself doing things. But there are advantages of incorporating such as protecting yourself if you get sued by someone angry. The corporation business assets are the only things the hostile person can try to take away from you. Your personal bank account and car are protected.

There are several ways of forming a business in the United States. You could be a limited liability corporation. Subchapter S, regular Corporation, or even more veterans will tell you to get the advice of a lawyer when experienced with new enterprises. And to make that decision soon, the best lawyers will not charge you for your first visit to discuss this important decision. Most startup veterans who expect to use stock options to attract and motivate employees will use a classical Corporation. Next, choose who you want to be on your board of directors.

They are people who will behave like your bosses. They'll offer you advice and be there to help make the most challenging decisions wise ones. If you plan on selling shares to investors, you'll have one or two of those on your board as well. They'll be concerned with how you're spending their money. Startup veterans keep their boards as small as possible. So decisions can be made quickly.

Three of first five as you grow and raise more cash from investors. You'll have to live with these people criticizing you month after month. So this choosing making a decision, who will be on your board of directors is terribly important. You're strongly advised by serial entrepreneurs to discuss your decision with other entrepreneurs, people like yourself, your lawyer will also be of considerable help. Now for a big question, Where will you get the fuel to power your new business? Your own savings that's dubbed bootstrap says tough to do successfully is pulling yourself off the floor by lifting up on your bootstraps.

In other words, there's a lot of risk facing you might be wiser, selling some of the company to investors who share the chances of success and failure and supply you with more cash to go farther. From whom do you plan to raise cash, crowdfunding, family, friends and fools, local rich people, angels, venture capitalists, there are many choices. So you need a plan for raising your capital. How much to raise? From whom? And when?

What percent of the corporation Are you planning to sell? And how much extra cash Do you plan to have in reserve? veterans expect delays and surprises both good and bad. Those are advanced that suddenly demand cash such as, oops, gotta fly to Colombia to speed up delayed completion of our coffee product. Or upon first product launch, the orders are three times greater than expected and so on. Decide on that reserve cash number and refine further your financial sketch.

Oh boy, here's a vital decision to be done. Who do you want to Team up with to do your startup, and how much of the company should each of them get? There'll be your core team, people that you're going to be very close to for several years. through thick and thin, good and bad days riding that startup rollercoaster with you. Startup veterans form a group consisting of someone who has run a business before, plus a marketing whiz and a techie who can build the product. Those three hopefully include people like yourself with some of those skills.

Those are the skills that are required. Early business development will be done jointly by the founder, CEO and marketing person. They go out into the real world to find out where the customers are and what excites them about what the company is planning to offer. Meanwhile, the technical person does some prototype work. That means testing the initial idea to figure out how tough it will be to build the first product for launch. Often dub, proof of concept.

And a few weeks the core team gathers together to merge their findings, change the product plans and move forward. That's the never ending process. looping and small tight loops advancing each time learning and changing along the startup trail as you go. Those are the key people you need to add your team right now. With the core team committed startup veterans then refine the initial idea and figure out how to put cash in the bank to finance the startup. So let's do what they do next.

Assemble your core team and start to openly discuss your thoughts, doubts, hopes and fears as well as your dreams. Get your sketch moving forward start typing adding facts, financials, insert meaningful and emotional words into paragraphs and add a compelling graphic aim for completing this task. matter of a couple short weeks with an expanded attractive story, refine it by the week. Shortly I'll give you some tips on how to do that quickly. And keep in mind that your long range target is completion of a stimulating story, one that stirs positive emotions. You're going to use it to attract bees to honey, investors, employees, customers, suppliers, bloggers, all stakeholders, you need to get excited about your future great startup.

Step eight. What mechanics need to be done to get started, but administrative things need to be finished? The answer a lot more than you probably have thought about. Look how long this list is. If you incorporate you need legal paperwork done immediately, such as company bylaws, and pick company officers president treasurer, Secretary vice presidents add who is it on the board of directors, you need to open a bank account, a lot of paperwork, real cash, have to pay the lawyer among others who can sign checks for how much money now decide who will get, what wages, the amounts, how they'll get paid and how often you have to select the benefits people are going to get. You're going to pay for them such as health insurance and more.

Who's going to keep the counting books are you going to do it or outsource it to a service? How about insurance, fire theft, lawsuits, liabilities for accidents and so on? Well, as you can see by the list, there's a lot to do. And you are in a hurry. Hey, you haven't even gotten to buying snacks refrigerator and coffee machine and so forth. The point get ready to get very busy.

Starting takes a lot of work and a lot of time. Done. You asked, Well, almost. Remember I said, I'll give you some tips on preparing a sketch of your business. So let's discuss that. Now.

Tell me about your idea. That's what people are going to be asking you soon. They are the people with a cash your choir, they'll be people you want to hire, and lawyers to get you started on the right foot. All of them want to hear a very short story from you. This story is called an elevator pitch. It's a very good one with short length, conveying power, and it's necessary for every new enterprise.

It's the next step in response to people saying, Tell me about your idea. An elevator pitch is about 30 seconds long. It has to be quick meaning it must be delivered before the important person you accidentally bumped into gets off the elevator. However, quick messages that are powerful are tricky to create. Yet you have to build one Your next step in getting ready to start your business. You'll have your sketch to work from, that's great.

Then all you need are some tips for creating a powerful elevator pitch. Guess what? I've already done that. I've designed a short course, quick course to help you do it. You'll find it at start win now.com I have other things there that can help you along the way. Also, they're created especially for people in a hurry like you.

So let me wish you right now the best in your adventure. Let's get going to the elevator pitch quick course right now. I'm heading there. I look forward to seeing you