Transcript Starting Your Own Business

Chicago eLearning &
Technology Showcase
August 11, 2010
Starting Your Own
eLearning Business
Mark Steiner
http://www.marksteinerinc.com
Agenda
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Introductions
Why should you?
Who should?
What does it take?
How to attract and retain clients?
What to charge, how to bid?
How to get the work done?
How to stay current?
What will you miss/not miss?
Debunking some myths . . .
How could you possibly fail?
Future considerations
Q&A
Speaker Background
 BS Industrial Tech. ‘88
 MS Instructional Design ‘92
 15+ years eLearning & interactive media
des./dev. experience
 Successfully competed 100+
eLearning/interactive media projects
 Presenter - eLearning Confs. US & Europe
 Started mark steiner, inc. in March 2001
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Audience Background
 Project Manager/ID/Developer mix?
 eLearning experience?
 What are some expectations from this
session?
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Why should you start your own business?
Ability
Freedom
is what you’re capable of
determines
what
doing.
Being Motivation
able to choose
what you
do
you
do.you
Attitude
how
when
get updetermines
in the morning
you do it.
well
Flexibility
–Lou Holts
 Ambition to succeed
 Tired of your Boss, or a boss
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Who should start their own business?
Luck
Traits
is not chance, it’s toil. Fortune’s
expensive
smile is earned.
• Self-starter
–Emily
Dickenson
• Plenty
of determination and perseverance
•
•
•
•
•
•
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Enjoy challenges
Dedication and structure
Niche of knowledge/skills
Project management skills
Selling yourself
Know when/how to say “Yes” and
when/how to say “No”
Who should start their own business?
IfTen
Abilities
of Winners
you believe
in yourself
and have
• An eye and
for opportunity
dedication
pride - and never quit, you'll
be• aIndependence
winner. The price of victory is high but
so• are
rewards.
Anthe
appetite
for hard work
–Paul
Bryant
• Self-confidence
• Discipline
• Judgment
• Ability to accept change
• Make stress work for you
• Need to achieve
• Focus on profits
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What does it take to get up and running?
 To
A accomplish
business plan
great things, we must not
• Aact
reality
only
butcheck
also dream, not only plan but
• Abelieve.
performance tool
also
• A message
sender
–Anatole
France
•
•
•
•
•
•
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A motivation tool
A management development tool
A road map
Evidence of focus
Understanding of who your target customers are
An appreciation of investor or lender needs
What does it take to get up and running?
 InGet
good lawyer
and accountant
theasuccessful
organization,
no detail is
 too
Determine
typeattention.
(For example: Sole
small to business
escape close
–Lou
Proprietor,
Holtz Partnership, LLC, C Corp, S Corp.)
 Acquire corporation status and any relevant
business licenses
 Cash Reserve
 Equipment
 Software
 Taxes
 Insurance
 Subcontractors
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What does it take to get up and running?
 We
Processes
and Documents
think in generalities,
but we live in
• Methodologies
detail.
• White Papers
–Alfred North Whitehead
•
•
•
•
•
•
•
•
Contracts
Proposals
Statements of Work
Design Document
Storyboards
Sign-off Forms
Marketing Plans and Materials
Elevator speech
 Website, demos
 Clients!!!!!!
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How do you find and attract clients?
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 You
Think
of build
all of a
the
people that
can’t
reputation
on you
whatknow
you . . .
 are
Your
previous
going
to do. employer
 –Henry
Your previous
clients
Ford
 Professional organizations and communities
 Local organizations
 Professional orgs not directly related to
training
 Job websites
 Speak at conferences
 LinkedIn and other social tools
 Write your own blog / newsletter or even a
book
 Network, network, network!!!
A modest man is usually admired, if people ever
hear of him. –Ed Howe
How do you retain clients?
 Honesty
Say What
You thing
Do - Do
Say
is one
youWhat
can’tYou
wear
out.
 –Waylon
Underpromise
Jenningsand overdeliver, don’t be too
optimistic with estimates
 Manage expectations
 Successfully manage all essential project
details
 Make your clients’ problems your problems
 Document and follow-up on everything
 Easiest clients to get are the ones you
already have. KEEP THEM HAPPY!!!
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How much do you charge ?
 Price
You’re
covering
everything
now:
insurance,
is what
you pay.
Value is
what
you
taxes, benefits, equipment, facilities, risk,
get.
downtime,
continuing education, contracts,
–Warren
Buffett
hiring/firing, sales/marketing
 Charge what you’re worth, what the project
requirements dictate, and what the prevailing
market rate is
 Don’t lowball
 Fixed Bid, or Time and Materials?
 Responding to RFP’s
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How do you bid work?
You
Cover
across
all phases
don'tall
getactivities
paid for the
hour. You
get paid
for
the value you bring to the hour.
(ADDIE)
–Jim Rohn
 Clearly define roles on development
and client teams
 Clearly define all deliverables
 Are there new tools / technologies /
techniques being used?
 Document all that you can, cover the
rest with assumptions and constraints
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How will you execute the projects?
 Just you? You and some employees? You and a host
Lots
of folks confuse bad management with
of subcontractors?
 destiny.
Initiate appropriate review and sign-off’s throughout
the project
life cycle. Don’t move forward without
–Kin
Hubbard
sign-off’s.
 Get an accurate and complete scope of work and
contract. What is in the scope and what is not in
scope?
 A fixed bid doesn’t mean the price is fixed and can’t
move; it means the price is fixed to a scope. 1) You
can define scope 2) If scope moves, so does price
 Other documents: Non-disclosure form, sign-off
forms, storyboards, scripts, etc.
 What is the payment schedule?
 What about warranty and support?
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What will you miss?
 Know
All ofyourself.
the support
functions
of a mid/large
Don’t
accept your
dog’s
company: as conclusive evidence that you
admiration
• HR
are wonderful.
• IT
–Ann
Landers
• Accounting
• Law
• Sales
• Marketing
 Praise from co-workers and boss
 General social interaction
 Interaction professionally with a wide array of
individuals
 Predictability
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What won’t you miss?
IfAthe
regimented
individual isschedule
a unit in a corporate
his life
is not merely
mass,
Forms,
paperwork,
etc.brutish and
short, but dull and mechanical.
–Herbert
Attending
Readmeetings that you don’t
need/want to be at
 Being nice to your boss (though
everyone but God has a boss ;)
 All things “corporate”
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How will you stay current?
ItConferences
is an all-too-human frailty to suppose that
favorable
wind will blow forever.
a Local
events
–Rick Bode
 User Groups
 Books
 Websites
 News Groups and Lists
 Blogs
 Social networking sites
 Beta testing
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Any suggestions?
Smooth seas do not make skillful sailors.
–African
Don’t lie/cheat/steal
proverb
 Don’t take work you can’t deliver
Success is getting what you want.
Happiness
Treat everyone
respect
is liking with
what you
get.
Jackson
–H.
Strive
forBrown
a work/life balance
 Happiness is a personal daily choice
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What are some myths?
A professional is someone who can do their
best
Woo
Hoo!
I’m
work
when
hegonna
doesn’tbe
feelrich!!!!!!!!
like it.
Cooke
–Alistair
It’s going
to be really, really easy!
 Let’s get as big as we can as soon as
we can!
 The work and projects are just going
to roll in.
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How could you possibly fail?
 I didn't
Inadequate
cash
fail the
test,reserves
I just found 100 ways to
 do
Failure
to clearly define and understand your
it wrong.
market Franklin
–Benjamin
 Failure to price your product or service
correctly
Failure
is not a single, cataclysmic event.
 You
Failure
anticipate
or Instead,
react to competition,
don'ttofail
overnight.
failure is a
technology,
or other changes
in the
few
errors in judgement,
repeated
every
marketplace
day.
 –Jim
Overgeneralization
Rohn
 Overdependence on a single customer
 Uncontrolled growth
 Believing you can do everything yourself
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What are key future considerations?
The
When
toisget
office space?
future
something
which everyone
of 60 minutes an hour,
reaches
When at
tothe
tryrate
to grow?
whatever he does, whoever he is.
–C.
How
to ramp up sales?
S. Lewis
 How to stay current with knowledge,
tool, technologies?
 When to update/change service
offerings?
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Questions?
who is afraid to ask
is afraid
of learning.
He
Questions
and
Answers
–Danish proverb
 Contact Info
Mark Steiner
3036 N. Leavitt
Chicago, IL 60618
[email protected]
(773) 392-7967
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