Business startups are often a labor of love: someone has a dream to make the world better with their product or service and they strike out on their own. The owners of startups wear many hats but often lack the training and mentorship from someone who knows how to start a business and manage it effectively. This is why most startups fail in their first year (as many as 8 out of 10 according to Bloomberg research) and from there, 50% won’t survive through their 5th year (SBA). It’s never too early to ask for help with your business startup!
Lorna Whiteaker is a business consultant helping businesses grow. No business needs growth more than startups. Capital funding and revenue are key to the success of a startup. When working with Lorna as a business consultant, business owners can expect to get in better touch with their money. Not all startups are seeking wealth, but none of them want to be a failure statistic.
Learn how to start a business the MoneySmart way with Lorna Whiteaker.
Startup owners who are unsure of how to start a business from the very beginning should not be without guidance. Working with Lorna as your business consultant will give you someone you can turn to for all of your basic business questions. Writing a Business Plan, filing a DBA (Doing-Business-As), Fictitious Name Statements, Business Licenses, Corporation Status, selecting infrastructure software like accounting – these are all areas of starting a business that require navigation and are likely new to someone starting a small business for the first time. Establish your business’ processes and operations right from the start by hiring Lorna as your business consultant.
Get To Know Your Financials
Do you know your financial floor? How to operate in a way that is revenue relevant? When creating your business plan, did you clearly identify how you were going to make your business profitable without leaving anything up to chance? Startups can have more upfront costs than existing small businesses when it comes to growth strategies, but they share the same need to clearly understand their financials down to the day-to-day operations. When starting a small business from a passion (or from a need), business owners need financial training and this is often where we start.
Lorna Whiteaker can help you start a business you love by getting you acquainted with your daily financial target. This is a key element in the survival of any startup.
Get To Know Your Audience and Value Proposition
Marketing is a part of writing a business plan, yet too many business owners fail to recognize the need to look at their product/service from the perspective of their potential customers/clients and understand its value. By working with a business consultant, you will have a better opportunity to examine your value proposition and your target audience. Are you giving them what they need? Are they seeing the same benefit from your product/service that you are selling them on?
If your customers are not as excited about the value of your product or service as you are, then there is a disconnect somewhere along the line and it needs to be addressed. Startups often face a difficult task launching into a market flooded with vendors competing for the same dollar and you need to stand out. Let Lorna work with you to better reach your audience.
Business Consultation Services for Startups
Business consultations are on a one-to-one basis with Lorna Whiteaker and the business owner(s). Startups should expect to schedule routine coaching sessions to stay on track. Consultation services are available in-person within San Luis Obispo County or online via Skype (or similar screen-casting services).
Client Discovery: 3 Hours
The first consulting appointment with Lorna will be your Client Discovery session. Please have copies from your past three months of bank and credit card statements. If you have a Business Plan, have this available, too.
Follow-up Coaching: 1-2 Hours Each, Monthly or Bi-Monthly
Once an Action Plan has been created, Follow-up Coaching sessions will be scheduled every 2-4 weeks to check-in on homework, growth, and learning. Business owners who take action and complete their assignments are the ones who see more success, faster.
I suggest all of my business startup clients subscribe to my weekly newsletter. In it, you’ll find tips for business growth and success based on my experience as a business consultant. It can help you stay on track and not forget about homework until the 11th hour.