4. Benefits & Rewards
Benefits
Freedom
Invest in you
Tax deduction
YB Consulting
919.627.7742
Rewards
Wealth creation
Job creation
Take charge of your
time
Economic
contribution
www.ybconsulting.net
5. Risks & Mitigation
Choose nonviable business
Financial
Research, research, research
Speak to those already in business
Utilize resources
Have at least 6 months expenses in savings
Second form of income
Keep job until business established
Lost time in corporate
Nurture network and new contacts
Invite respected leaders to advisory board
YB Consulting
919.627.7742
www.ybconsulting.net
6. Basic steps for start-up
Understand your life mission
List your talents, abilities & interests
Research potential businesses & industries
Develop a business plan
Choose
Business structure
Partners (internal and external)
Financing
Advisory Board
YB Consulting
919.627.7742
www.ybconsulting.net
7. Your Passion
Services
Web Development
Independent Contracting
Training
Products
Consulting
Planner
Real Estate
Patents
Wholesale distribution
Retail
Write a Book
Speaking circuit
Become industry expert
YB Consulting
919.627.7742
www.ybconsulting.net
10. Things to Ponder
Change to Information/Knowledge Society
Globalization
Value of diversity
Supplier diversity programs
U.S. African-American Entrepreneurship
One of fastest growing segments
NC is eighth in number of African-American businesses
Still only 6% of business ownership
YB Consulting
919.627.7742
www.ybconsulting.net
11. Resources
What Color is Your Parachute? (Richard Bolles)
How to Succeed as an Independent Consultant
(Herman Holtz, David Zahn)
The Startup Company Bible for Entrepreneurs
(Michael Stathis)
101 Best Businesses To Start (The Phillip Lief Group and
Russell Roberts)
Minority Business Development Agency
www.mbda.gov
www.Entrepreneur.com
Fast Company
Black Enterprise
YB Consulting
919.627.7742
www.ybconsulting.net
12. Resources
Business Plan Creation
Financial Planning
IRS
CPA, Lawyer referred by colleagues
Minority Certification
SCORE
SBA – 8(a)
WBENC
Government HUB/MWBE
Courses
Small Business Centers – Durham & Wake Tech
YB Consulting
919.627.7742
www.ybconsulting.net
13. Resources
NC Minority Business Development Center
Business Consultation
Financial Analysis
Loan Packaging
Procurement Assistance
Small Business Technology Development
Center
Management Counseling & Education
Export Financing
Marine Trades
Technology Commercialization
YB Consulting
919.627.7742
www.ybconsulting.net
14. Next Steps
Consider information presented
Seek out resources
Ask questions
Take your time, but…
Just do it!
Contact us
YB Consulting
919.627.7742
www.ybconsulting.net
15. Contact Info
Yolanda Brown
YB Consulting
Web: www.ybconsulting.net
Phone: 919.627.7742
Email: ybconsulting@gmail.com
YB Consulting
919.627.7742
www.ybconsulting.net