concept to cash - refinem...5. grow your business ∗ sell, sell, sell find new customers retain...
TRANSCRIPT
5/15/2015
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Concept to Cash
NK Shrivastava, PMP, RMP, ACP, CSM, SPC
CEO/Consultant/Agile Coach - RefineM
www.RefineM.com
Agenda1. Your Expectations from this Presentation
2. Introduction – Myself
3. Concept to Cash
a. 10 Steps to Start Your Business
b. 5 Steps to Get Going
c. Agile Approach
d. Conclusion
4. Upcoming Learning Opportunities from RefineM
5. Q & A
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Your Expectations
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What are your expectations from this
presentation?
Why are you here today?
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NK Shrivastava, PMP, RMP, ACP, CSM, SPC
∗ CEO/Consultant since Dec 2011
∗ Agile Coaching/Adoption
∗ Project Management/ Process Improvement
Consulting and Training
∗ Project Management Toolkits (for PMs, Executives
and Agile Practitioners)
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Helping organizations turn their
project management capability
into a competitive advantage
My professional journey b/f RefineM ∗ 20+ years of Successful Project Leadership
∗ Led 100s of projects of all sizes, successfully
∗ Recovered many projects, saved millions of $
∗ Implemented numerous process
improvements
∗ Coached/mentored 100s of PMs, and some
executives
∗ Board Member – SWMO PMI Chapter (2008-
2014)
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10 Steps to Start Your Business
1. Ensure that Entrepreneurship is What You Really Want
2. Decide What Kind of Business You Want
3. Research Your Idea – will it work?
4. Write a Business Plan
5. Determine Funding Sources
6. Choose a Business Structure
7. Assemble Your Team
8. Handle All of the Paperwork
9. Write a Marketing Plan
10. Create your Website
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1. Ensure You Want Entrepreneurship
∗ Do you understand that:
� You must be self-motivated and driven to succeed
� You must be willing to make many, many sacrifices
� You must be able to last for the long haul while business goes from
startup to maturity
� Not just with money, but energy
� Typical survival phase for business: 6 months to a year
� You must have the support of your family
Still want to do it? Then let’s move on ☺
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2. Decide Type of Business
∗ What do consumers need and what will they buy?
∗ What type of business best meets customer needs?
� Franchisee or independent ownership?
� Service or manufacturing?
� Brick-and-mortar, store front, or online?
� B2C or B2B?
� Purchase of Existing Business?
� Consulting?
Are you qualified to run your type of business?
If not, how will you become qualified?
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3. Research Your Idea
∗ Validate that your business will succeed based on data
∗ Write a Feasibility Plan—will this business work?
� Who is my competition and what is my product or service’s
advantage?
� How will I price, position, market, and support my product?
Establish unbiased GO/NO-GO to proceed
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4. Write a Business Plan
∗ Determine startup costs
∗ Forecast monthly financials for next 2-3 years
�Sales forecasts
�Costs (startup and ongoing)
�EBIDTA
�Net Profit
Establish unbiased GO/NO-GO to proceed
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5. Determine How to Fund
∗ Self-funding
∗ Bank loans
∗ Lines of credit
∗ Crowdfunding
∗ Venture Capital
∗ Reserves
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6. Choose a Business Structure
∗ Determine the best structure for your business
�Sole proprietorship, individual/single member LLC
�C Corporation
�S Corporation
�Partnership
�Trust/Estate
�LLC
�Other
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7. Assemble Your Team
∗ SCORE Mentor
∗ Attorney
∗ Tax Accountant / Bookkeeper
∗ Investors
∗ Insurance Advisor / Agent
∗ Close Friends / Spouse
Be open about your business with your team:
What, Who, Why, Ideas
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8. Handle all of the Paperwork
∗ Decide name for your business
∗ Register Business with the State
∗ Get a Federal EIN, and State Sales
Tax #
∗ Purchase a Domain
∗ Get a City Business License
∗ Get Special Permits
∗ Get an Occupational License
∗ Purchase an Accounting
System
∗ Handle Intellectual Property:
� Patents
� Trademarks
� Copyrights
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9. Develop Your Marketing Plan
∗ Marketing Plan needs to answer:� Who is my target market?
� How do I reach them?
∗ Advertising � Website
� Email Blasts
� Cable TV
� Flyers
� Newsletters
� Social Media
� Postcards
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10. Create Your Website
∗ Design your own or contract
� Find a Webmaster
∗ Determine how you will get traffic to your site
� SEO (Search Engine Optimization)
� Email Blasts (Constant Contact, Campaigner, iContact , etc.)
� YouTube
� Half-Price Deals, Deal Chicken, etc.
� Social Media (LinkedIn, Facebook, Twitter, etc.)
� Many Others . . .
5 Steps to Get Going
1. Develop first product/service
2. Start production
3. Start selling
4. Make money
5. Grow your business
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1. Develop First Product/Service
∗ Finalize design
∗ Develop & test product - quickly
� Focus on essential features in the first release
� Add features as you go
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2. Start Production
∗ Set up production
environment
∗ Move developed
product to
production
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3. Start Selling
∗ Develop sales plan/process
∗ Find channels for selling
� Direct sales to key/big customers – B2B
� Internet sales – B2B & B2C
� Distributors/vendors/partners
∗ Execute your sales plan
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4. Make Money
∗ Keep an eye on gross
margin
� Selling price – cost of
production
∗ Collect money - ASAP
� Advance payment for
internet sales
� B2B sales – invoice
quickly, collect quickly
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5. Grow Your Business
∗ Sell, Sell, Sell
� Find new customers
� Retain current customers
∗ Develop more products and or services
� Keep extending your market, and
� Market share
∗ Continuously refining your products and services
� Keep extending your market, and
� Market share
Concept to Cash
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Concept to Cash
∗ The journey is extremely challenging
� Lot of unknowns
� For every startup – this is the “first time”
� Lots of things to do
� Most entrepreneurs are all over…
What is the single most important thing that
will help you reach to CASH faster?
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Single most important thing …
That’s where project management can help
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Project Management Methodologies∗ Waterfall/Stepwise/Traditional
∗ Agile/Iterative
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Manifesto for Agile Software Development
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We are uncovering better ways of developing software by
doing it and helping others do it. Through this
work we have come to value:
Individuals and interactions over processes and tools
Working software over comprehensive documentation
Customer collaboration over contract negotiation
Responding to change over following a plan
That is, while there is value in the items on the right, we value the
items on the left more.
Was developed in 2001 by 17 agile advocates in Snowbird, UT
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Agile Twelve Principles1. Satisfy the customer thru early and continuous delivery
2. Welcome changing requirements even late in development
3. Deliver working software frequently a couple of weeks to a couple of months
4. Work together daily (business people and developers)
5. Motivated individuals, build projects around them, and give them freedom
6. Face-to-face conversations is the most efficient and effective method
7. Working software is the primary measure of progress
8. Sustainable development i.e. maintain a constant pace indefinitely
9. Continuous Attention to technical excellence & good design enhance agility
10. Simplicity – the art of maximizing the amount of work not done – is essential
11. Self-organizing teams deliver the best architectures, requirements, and designs
12. At regular Intervals the team reflects on how to become more effective
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Use Agile
∗ For startup activities (10), as well as
∗ For follow up activities (5)
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Agile Approach
1. Develop Your Backlog
2. Develop Sprints
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Develop Product Backlog
∗ Product backlog is prioritized list of requirements/tasks
∗ Contains most important items at top, least important
at bottom
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Prioritizing Product Backlog
∗ What are the most critical things to do?
∗ What activities depend on other activities finishing?
∗ What goes well together?
� i.e. Choosing a domain and setting up email accounts
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Develop Sprints∗ A sprint is a set period of time in which a working set of tasks is
completed – usually a week or two.
∗ By the end of the sprint, you should have a working product/fully
completed tasks that you can review
∗ At the end of the sprint, review and make refinements, use
retrospective to learn from experience
∗ Apply lessons to next sprint, picking up next set of critical items
∗ Repeat until you are DONE.
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Conclusion
∗ Starting a new business is full of rewards, and challenges
∗ There is always more to do than what you can handle,
you are spread thin – busy busy busy
∗ Use agile to stay “focused” and shorten your journey
from Concept to CASH.
Thanks for attending and best of luck!
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Visit https://refinem.com/trainings/ for more details
Training Title Springfield,
Missouri
Instructor-
Led Online
Free
Webinar
Ace Your PMP® Exam: Final Review May 14
Agile Fundamentals June 01-02
A Tiered Approach to Implement the
PMBOK® Guide
June 3
PMP® Exam Prep June 22-25
Authentic Leadership August 24
More Training Opportunities From RefineM
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We also offer customized trainings, On-site & Virtual
Topics include
∗ Agile,
∗ Project Management,
∗ Process Improvement,
∗ Leadership and
∗ PMI & SAFe Certifications.
RefineM Customized Training
More info at http://refinem.com/trainings/
Contact us at [email protected]
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__________________________________________________________________
NK Shrivastava, MBA, PMP, RMP, ACP, CSM, SPC
CEO/Consultant, RefineM
Nixa, MO 65714, [email protected], www.refinem.com
http://www.linkedin.com/in/nkshrivastava @jujustrightpm
Questions?