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Starting a Business QuickStart Guide

summary ofStarting a Business QuickStart GuideBook by Ken Colwell, PhD, MBA

14 min
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You’ll learn

  • The four pillars of marketing
  • About the secret of startup funding
  • Whether you need a business plan
  • Why pricing strategies matter

first KEY POINT

From ideas to opportunities

We are exposed to hundreds of different ideas and thoughts every day. The challenge is figuring out which ones to pursue. Imagine for a moment that two entrepreneurs stand before you. The first relies on statistics and trends, while the other provides a unique solution to a specific problem, like the iPod did for music enthusiasts. The iPod addressed issues consumers didn't even realize they had, such as the convenience of having a vast music library in their pocket and the ease of downloading songs instead of buying CDs.

To understand the market fully, you should conduct thorough research.

This transformative solution came not necessarily from a eureka moment but from recognizing an actionable opportunity. And what defines them? Individual experiences, insights, and passion.While many might recognize a challenge, only those with the right background and perspective can see a practical solution, turning it from a simple idea into a valuable opportunity.However, entrepreneurship goes beyond spotting and acting on these gaps. It's about navigating our own internal challenges — doubts, fear of the unknown, and worries about potential failures. Yet, these inner concerns are often just mirages, magnified by overthinking.So, where does this leave us? On this unpredictable journey, every problem, whether obvious or unseen, is an opportunity to jump in. And with your insights as your compass, you're bound to discover uncharted wonders.Now, are you ready to turn your ideas into opportunities? Dive into this summary, and let's uncover the world that awaits!

second KEY POINT

Beyond the product

Do you agree that starting a business is more than just having a groundbreaking product or service? For a business to thrive, you must understand the foundation and structure to support its growth. For instance, it is crucial to consider the practical aspects, including the legal ones. This foundation will determine how your business operates, interacts with stakeholders, and grows over time.Take a moment to think about this:• Why did you choose this particular business name and logo?
• Where do you plan to be in a year, five, and ten years?
• What sets you apart from others?The answers to these questions will help you think of your product or service as a solution to a problem that will be relevant for a long time. For instance, when developing a tech gadget, your focus should move from its remarkable features to how it tackles specific challenges or improves the user's experience.

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first KEY POINT

Deciphering the market

second KEY POINT

The power duo of success

third KEY POINT

The playbook of expansion

fourth KEY POINT

Fueling dreams with funds

fifth KEY POINT

The essence of a business plan

sixth KEY POINT

Conclusion

About the author

Ken Colwell is Professor and Dean of the Monfort College of Business at the University of Northern Colorado. He has a PhD in strategic management.

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Frequently asked questions

What is 'Starting a Business QuickStart Guide: The Simplified Beginner’s Guide to Launching a Successful Small Business, Turning Your Vision into Reality, and Achieving Your Entrepreneurial Dream' about?

'Starting a Business QuickStart Guide' by Ken Colwell is a comprehensive resource designed for aspiring entrepreneurs. It outlines essential strategies and actionable steps for launching a successful small business, emphasizing practical advice on turning visions into reality.

What are the key takeaways from 'Starting a Business QuickStart Guide: The Simplified Beginner’s Guide to Launching a Successful Small Business, Turning Your Vision into Reality, and Achieving Your Entrepreneurial Dream'?

Key takeaways from this guide include understanding the importance of market research, creating a solid business plan, and effective marketing strategies. It equips readers with vital entrepreneurial tools to help them navigate the complexities of starting their own business.

Is 'Starting a Business QuickStart Guide' worth reading?

Absolutely! 'Starting a Business QuickStart Guide' is especially beneficial for beginners as it simplifies the business launch process with practical insights and real-world examples. Its accessible approach makes it a valuable read for anyone looking to turn their entrepreneurial dreams into reality.

How many pages is 'Starting a Business QuickStart Guide: The Simplified Beginner’s Guide to Launching a Successful Small Business, Turning Your Vision into Reality, and Achieving Your Entrepreneurial Dream' and when was it published?

The book consists of approximately 200 pages and it was published in 2020. Its concise length makes it easy to digest for those eager to start their business journey.

Who is the author of 'Starting a Business QuickStart Guide: The Simplified Beginner’s Guide to Launching a Successful Small Business, Turning Your Vision into Reality, and Achieving Your Entrepreneurial Dream'?

The author of the guide is Ken Colwell, an experienced entrepreneur and educator. His insights draw from extensive experience in helping individuals launch and grow successful businesses.