entrepreneurship presented by bill nicholson january 10, 2007 en·tre·pre·neur a person who...
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Entrepreneurship
Presented by Bill NicholsonJanuary 10, 2007
en·tre·pre·neur A person who organizes and manages any enterprise, esp. a business, usually with considerable initiative and risk.
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OverviewOverview
IntroductionDescription of the BusinessCustomer ProfileWant to be Self-Employed?The Three Types of EmploymentFinal ThoughtsQ&A
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Who is This Guy?Who is This Guy?UC Graduate - BSES A+, ACE, MCPAdjunct Instructor, CSTCCSelf-employed for 16 yearsReal Jobs: General Motors,
Cincinnati Milacron,etc.
IntroductionIntroduction
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Description of the BusinessDescription of the Business
Anything that is computer-related– Software Development – Networking– Repair & Upgrades– New Hardware– Training– Consulting– Hand-Holding
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Multi-modal analysis of non-linear operational constructs and application of digital techniques to enhance, support, streamline, and de-obfuscate subjective processes, with emphasis on remuneration enhancement.
Description of the BusinessDescription of the Business
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“Apply computer technology
to make people happy
so they will give me money.”
Description of the BusinessDescription of the Business
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C++Design / Consulting VBASP .NetSQL ServerAccessHTMLWindows 2003 Server / Linux
Description of the BusinessDescription of the Business
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Ongoing relationships with customersSupport a manageable number of
customersAlways be on the lookout for potential
new customersBe available 24-7Build relationships
Description of the BusinessDescription of the Business
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Customer ProfileCustomer Profile
EclecticCollege: www.chatfield.comDefense Contractor:
www.kecoindustries.comContractor: www.drackett-harth.comLogistics: www.standrewsltd.com
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Process Process ControlControl
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A Typical Customer is not High TechA Typical Customer is not High Tech
They are profit-orientedThey expect resultsThey trust me to suggest and
implement new technology
Customer ProfileCustomer Profile
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How do I Charge?How do I Charge?
Hourly Rate– T&M (Time and Materials)– Establish the rate before starting– Plumbers charge for travel time. Should we?
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How do I Charge?How do I Charge?
Project Rate– Provide a quote or a proposal– A proposal is an analog device
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How do I Charge?How do I Charge?
Value-Based Rate– Mr. Customer: What is this software
worth to you?
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How do I Charge?How do I Charge?
Speculation– Write the code for free and hopefully reap
the benefits down the road.– Working “on spec” is risky.– The cost of your labor is not tax-deductible
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Want to be Self-Employed?Want to be Self-Employed?
Work your own hoursPick your own projectsKeep everything you earnMake all the decisionsAvoid the office politics
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Still want to be…?Still want to be…?
No company softball teamNo Christmas PartyNo retirement planNo benefits / health insuranceNo paid vacationNo steady paycheckNo promotionsCollections
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How to get StartedHow to get Started
Consider a part-time ‘real job’.Contact the placement agencies
– Emphasize your willingness to work part-time
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How to get StartedHow to get Started
Don’t be picky– Repair– Programming– Consulting– Networking– Design– Hand-holding
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Short TermShort Term
Time management is criticalCan you deal with not knowing what
you’ll be doing next week?Next month?
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Customer RelationsCustomer Relations
Court your customers
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Customer RelationsCustomer Relations
Don’t commit to anything– “Probably”– “I think we can do that”– “We’ll try to get that accomplished”
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Customer RelationsCustomer Relations
EmailChristmas giftsNo charge for telephone calls
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Customer RelationsCustomer Relations
Identify the decision makers– Owner– Secretary– Sales Manager
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Customer RelationsCustomer Relations
Recognizable technology can get you in the door.
Microsoft sells (sorry!)
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Types of EmploymentTypes of Employment
Direct Employee– Paid by the company you work for– Usually an open-ended relationship
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Types of EmploymentTypes of Employment
Contract Employee– You are paid by a third-party, usually a
placement service.– Usually a closed-end or short-term
agreement.– You are employed by and at the mercy
of the placement service.– Usually a full-time commitment.– Be wary of tax ramifications
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Types of EmploymentTypes of Employment
Self-Employed– You bill the customer– You collect the fee– You pay the Self Employment Tax– You file a Schedule C– You deduct your expenses
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Beware of Tax ImplicationsBeware of Tax Implications
Someone will pay the extra 7.65%
Types of EmploymentTypes of Employment
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Beware of Tax ImplicationsBeware of Tax Implications
You know you’re not self-employed if…– Your employer provides you a desk, a place to
work, a computer, and other tools.
OR– Your employer determines your working hours
OR– You receive a W-2 form at tax time
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Legal RequirementsLegal Requirements
You are considered self-employed and subject to self-employment tax laws if you:
carry on your own trade or business have a profit motivation for your business activity operate your business in a regular manner are a sole proprietor are an independent contractor work full or part-time in the business endeavor have a net profit of $400.00 or more have a net profit of $100.00 or more as an employee of a church
electing exemption from Social Security Withholdings
http://www.villarose.com/html/advantax/slfempl.htm
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Final ThoughtsFinal Thoughts
No one has ever asked me for my GPADon’t let emotions interfere with businessBe prepared to retrain yourself constantly
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Final ThoughtsFinal Thoughts
This is a people business
Edsger Dijkstra is often quoted as saying, "Computer science is no more about computers than astronomy is about telescopes."
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Learn About PeopleLearn About People