Strike it Rich

1
Strike it Rich!
Business Libraries in North Carolina

• Local Libraries as Resources for Economic
  Development

2
Presenters

• Dana Edge
• Western Carolina University
• Rita W. Moss
• UNC at Chapel Hill
• Martha Thomas
• Greensboro Public Library, NC

3
Planning

• Businesses with fewer
• than 20 Employees-
• 4 year Survival 37
• 9 year Survival 9

4
New Business

• Information North Carolina Inc
• Industry - - Information
• NAICS
• old 514199
• new 519190

5
General Resources

• WSJ.com Startup Journal
• - business plans, survival strategies
• CCH Business Owners Toolkit
• - templates and tools
• U.S. Small Business Administration
• Business Owners Ideacafe
• - includes discussion forums

6
Step 1

• Business History Industry Outlook
• - Industry Studies
• - Databases
• - Web sites

7
Step 2

• Products Services
• - what makes this special
• - what is the client base
• - what fees will be charged

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Step 3

• Market Examination
• - local economic data
• - local demographic data
• Use databases to fill in gaps

9
Step 4

• Competition
• - what comparable businesses are in the area
• - ReferenceUSA Business

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Step 5

• Marketing
• - Decide on the type of publicity
• - check sample plans
• - check databases

11
Step 6

• Operations
• - Licenses and Permits
• - Own or rent
• - What equipment is needed
• - What startup money is needed

12
Step 7

• Administration Management
• - Personal Statement
• - Decision about type of company
• - sole proprietorship

13
Step 8

• Potential Problems Solutions
• - Prepare for the unexpected
• - SWOT (strengths, weaknesses, opportunities,
  threats) analysis

14
Step 9

• Financial Information
• - SBA (SCORE)
• - Plan the money needed
• - Plan debt repayment
• - sample balance sheet

15
Step 10

• Business Summary
• - Assemble all the information
• - Check this against sample plans
• Et voila!