Business Building and Development Workbook 4

What Every Interior Designer Should Know About Starting Your Own Business

Part of Seminar Series II

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(Series II ▪ #2004 ▪ 4 CEU ▪ 4 Hrs)

Every small business starts with a dream. Do you have what it takes to own and operate your own business? Having a passion for a product, service or being good with your hands isn’t reason enough to start and run a successful business.Do you know how much cash or credit line you will need in the first year to operate your business? How will you determine your profitability? Your effectiveness as a business owner depends on having skills and knowledge in more than just products and sales. The key to success is a well‐designed comprehensive business plan.

Learn if entrepreneurship and starting a new business is right for you:

  • How to start a new business
  • Why people start a business
  • Business myths, facts and truths
  • Business types and taxes
  • 20 reasons why businesses fail
  • 15 reasons why businesses succeed
  • 20 questions you really need to ask
  • Knowing your business in’s and out’s

Avoid many of the potential pitfalls by understanding the following topics:

  • Business plan: Your written record of business goals and strategies
  • Financial performance: How to evaluate your money‐making strategy
  • Breakeven: Learn where your breakeven point is and when will you reach it
  • Human capital: Why attracting and retaining top talent is crucial to your success
  • Decision making: 6 steps in making decisions and using the right methods to avoid risking failure