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Entrepreneurship: How To Start A Business From Business Idea

Entrepreneurship fundamentals: Strategies to turn your business idea into a successful business faster with less stress
Instructor:
Alex Genadinik Business Coach
24,637 students enrolled
English [Auto-generated] More
A-Z roadmap of steps to start a business, gain independence and enjoy the freedom of being your own boss!
Gain confidence and become decisive about the ideal way to proceed with your business
Expert help and advice from the instructor in 1-to-1 office hours calls and course discussions. 99% of questions are answered within 24 hours.
Discover more than 10 practical ways to raise funds for your business
Alleviate the stress you are experiencing from struggling in business
Identify highly profitable business niches, develop new business ideas, and continuously improve them to increase your profits
Write a business plan with effective and winning strategies that prepare your business for growth
Avoid common costly mistakes made by most first-time entrepreneurs, and save precious time and money
Learn when and how to protect your intellectual property
Increase your confidence and decisiveness when making crucial business decisions

Use this course as your A-Z, step-by-step roadmap to turn a business idea into a profitable business.

Achieve freedom and independence that comes from being your own boss.

Even if you are an absolute beginner, this course will guide you to successfully plan and start your business.

ARE YOU BUILDING YOUR FIRST BUSINESS AND FEEL LOST AND UNSURE OF WHAT STEPS TO TAKE?

YOU ARE NOT ALONE…

Millions of first-time entrepreneurs feel that way, and that’s exactly how I felt when I started my first business 20 years ago. I’ve felt the stress you are feeling, and I’ve been through the hardships you are facing.

The great news is that I’ll walk you through every step of starting your business from selecting the best business idea, to business planning, registering your business, raising money, and starting your business with correct fundamentals to give your business the best chance to succeed.

WELL-KNOWN FACT ABOUT STARTING A BUSINESS

Getting the right advice and direction from an expert will help you greatly decrease your learning curve, minimize your period of struggle, and give you the best chance to succeed.

WHAT YOU WILL ACCOMPLISH BY THE END OF THE COURSE

By the end of this course, you will no longer be one of thousands of “wantapreneurs.” You will have taken your first positive steps to business success. You’ll know exactly where you are going in business and how you are going to get there. You will be able to make correct and confident decisions.  

Use this course as a step-by-step guide to go from business ideas to starting a successful business.

INSTRUCTOR BACKGROUND: ALEX GENADINIK

My business plan book ‘How To Write A Business Plan’ is consistently the top business plan book on Amazon. My book is used by a number of universities and high schools, and I regularly get invited by these institutions to give talks about starting a business.

I’ve been an entrepreneur for 20 years, have personally coached over 1,000 entrepreneurs, taught 140,000 students and helped millions of entrepreneurs worldwide to create 6 and 7-figure businesses in the process, and I can help you too.

Imagine how much better and easier your road to success will be, and how much more you can achieve with an experienced mentor.

WHY THIS BUSINESS COURSE IS UNIQUE

There is a unique story behind this course. I originally created the Problemio business apps which now have over 1,000,000 entrepreneurs who downloaded the apps. On the apps, entrepreneurs were able to ask business questions. I took all the questions that were ever asked on the apps, and summed them up into the issues covered in this course. That means that the issues covered in the course come from entrepreneurs just like you! 

So if you are starting a business, this is a great way to guarantee that the material in the course will be very relevant to the things you are going through now, or things you will be going through soon.

BONUSES INCLUDED

* Lots of extra freebies, downloadable worksheets, and exercises to make the course more interactive and valuable

* Free 15-minute coaching call (I don’t sell anything and don’t collect your email, just answer your questions)

* Personal invitation to my Facebook community after you complete the course

* My list of 50 business-success skills after you complete the course

* Be entered to get chosen for my student of the month status and have your business featured

OFFICE HOURS AND ONE-ON-ONE HELP: I GO THE EXTRA MILE FOR MY STUDENTS

What really sets this course apart is the personal time I give to hold office hours with students in this course. During the office hours you can ask me any business question you want, and I will do my best to help you. The office hours are free, I don’t try to sell anything. It is just another thing I do to help you achieve your goals. 

MONEY-BACK GUARANTEE

The course comes with an unconditional, Udemy-backed, 30-day money-back guarantee. This is not just a guarantee, it’s my personal promise to you that I will go out of my way to help you succeed just like I’ve done for thousands of my other students. 

Invest in your future. Enroll now.

Course Introduction: Watch This First To Understand What You Get From The Course

1
How to get immediate benefits from 1st lecture & course welcome and introduction
2
Subtitles and video quality
3
5 common business challenges to test any idea with

If you don't have an idea yet: How to come up with new business ideas

1
WORKSHEET: Picking an industry and getting started with business idea generation
2
Identify your business goals
3
Combining Industry and goals for unique & personalized business idea beginnings
4
Adding demographics and psychographics to your idea
5
Bigger checklist: 18-item business idea checklist
6
EXERCISE and WORKSHEET: Get unique and creative business ideas
7
Let's compare results from previous exercise - if yours are different, tell me
8
How to come up with physical product ideas

Business idea fundamentals & evolution

1
TWO EXERCISES: Creating a customer profile & potential customer feedback

Warm welcome to you for joining this business course, and let's get started with two exercises.

2
How to get feedback on business ideas & how to get expert feedback

Whatever business idea or new start-up or product idea you might have, even if you think it is great, you must get feedback from industry experts, your friends, and your business peers. Have real conversations with people and try to truly see what the response will be like. And of course, talk to your potential future customers who you think are your target audience and ideal customers. So in this tutorial of our business course, I explain how to get feedback on your business ideas from industry experts and peers.

You learn how to use social media and Facebook groups and online networking to find industry experts in your niche, and get their advice and mentoring.

3
How to tell if an idea is good & how to validate your idea

In this part of our business course give you strategies and tips on how to tell if a business idea is good. If you have ever wondered if your business idea is good, this tutorial has practical ways you can test your business idea.

4
TEMPLATE: Pitch your business ideas to investors or during conversation

This is a very important lecture in this course. This lecture will teach you how to pitch your business or initial idea. It is very important to have a good elevator pitch (sometimes called the 60 second pitch) because you will be using on a daily basis to explain what your company dies, and to attract clients, employees, investors, partners, and other people. This is one of the more useful and popular lectures in this business course.

5
Three types of different business risk you must be aware of

In this part of the course on how to start a business, talk about 3 kinds of business risk: financial risk, market risk and product risk due to technical challenges. 

6
What to do if you have too many ideas

What to do if you have multiple, or too many business ideas. How to narrow it down to a single best idea, and why focus is extremely important when you have many good business ideas.

7
Different kinds of business ideas & what you must be aware of with each

I talk about 3 kinds of business ideas: original and unique business ideas, commoditized and traditional business idea that we are all familiar with, and a hybrid of the two.

8
Top reasons businesses fail & how to decrease chance of failure

In this lecture of the business course I explain some of the top reasons companies fail, and explain what you can do to avoid some of the major pitfalls and help to prevent you from failing in these ways.

9
NEW! Abundance mentality to help you avoid stress & make better decisions

Entrepreneurship is difficult. It can be scary, stressful and daunting. It can often make people have low confidence and low self esteem. And those are bad mental states to do business. So in this lecture I talk about getting out of those mental states that are unhealthy, and getting yourself into healthier mental states out of which you can think more rationally and make better business decisions.

10
NEW! My mistake of choosing a business niche when I started as an entrepreneur

I thought I'd add to this business course by sharing my own mistakes when starting a business. Over the years, I made many mistakes. In this lecture, I share my mistakes in choosing a business niche.

Productivity and emotional intelligence to make you a better entrepreneur

1
50 productivity skills that will help you for the rest of your career
2
EXERCISE and brief introduction to emotional intelligence, productivity
3
Five productivity tips to boost quality and quantity of your work
4
Your brain and business - which parts of the brain work when

How to protect intellectual property

1
How to protect business ideas and your company's intellectual property

Let's start a new section of our business course. In this section, I will teach you about different ways you can protect your intellectual property like your business ideas.

Do you want to protect business ideas? You ever wonder how to protect your business ideas? In this lecture I explain how to protect your business ideas and intellectual property in a few different ways: with an NDA (non-disclosure agreement), non-compete agreement, working with people whom you can trust and a few other ways.

2
How to protect your business by creating a moat around it

One of my favorite ways to beat your competition and protect your business ideas is to build a moat around your business. The moat strategy is a very popular and maybe an intermediate or advanced topic. In this lecture of the course I explain what is a moat strategy and how to create it for your business.

3
Create barriers to entry to protect your business from competitors

It is great if the kind of company you are starting has barriers to entry. This is similar to having a moat strategy, but with a few distinction. The moat helps you during competition. The barrier to entry helps to prevent your potential competitors from even starting the business.

How to write a business plan

1
What is a business plan

In this section of the business course I explain what is a business plan (sometimes called business proposal). The business plan is a basic document that outlines your business model and general execution strategy for your company in the near and mid-term future.

2
When you need a business plan

In this lecture of the business course I explain when you need a business plan. Many people aren't sure when or if they should have a business plan. There is a simple structure and logic to deciding when you should write your business plan, and in this lecture of the course I explain precisely that so that this question doesn't have to come up again.

3
What is a business model

The term business model is one that is often misunderstood and misused so I had to add a section about it to this business course. Your business model is really the way that your overall business functions, and how all the moving pieces of your business interact with one another. In a way, the business model is a thousand foot view of your entire company.

4
How long should a business plan be?

In this part of our business course I explain how long your business plan should be. Some business plans can be just one or two pages, and some business plans can be quite long. Here I explain when you need a longer and when you need a shorter business plan.

5
The executive summary of a business plan

The executive summary is a confusing term because sometimes it means a short 1-2 page business plan, and sometimes the executive summary is a term that means the introduction section.

6
The product section of a business plan

This lecture of the course talks about what to write about your product or service.

7
Product considerations for the real world

Product or service tips outside of business planning that you can use in real world scenarios and situations.

8
The stage of your business

How much progress have you made with your business? It is ok if you are just starting. Every company had to start somewhere. You must simply help the reader of your business plan know how long have you been working on your business, and what kind of traction or growth you have. If you have customers, product or revenue, this is a good place to note the maturity of those.

9
Your market size section of the business plan

Do you know how to calculate your target market size? You must know that, and express it clearly in your business plan. If investors read your business plan they should be able to determine whether the overall opportunity is big enough, and whether you have a good understanding of the size of your own target market. Additionally, depending on how you count, different calculations can result in different target market size numbers, which as you can imagine, leads to some pretty interesting discussions.

10
How to identify your target market

This lecture explains how to correctly identify your target market. Many first time entrepreneurs make a common and big mistake of incorrectly identifying their target market. That not only leads to incorrect target market size calculations, but also to a bad overall marketing strategy where the wrong demographics and psychographics are targeted, and the wrong people are reached, and the wrong marketing strategies are chosen. All those mistakes coming from incorrectly identifying your target market. So watch this part of the training to correctly identify your target market.

11
The marketing plan of your business plan

The all important marketing plan in your business plan. You must be able to promote your business and get customers. Without marketing and without clients, a business can't survive for long so your marketing plan is absolutely important. It isn't enough just to have any old marketing plan. Your marketing plan must be very good and savvy. If your current marketing plans consist of promoting on Facebook, Twitter, with business cards and flyers, you must definitely come up with a more professional marketing plan.

12
Your revenue stream

Discuss how your business will make money. What will be your revenue stream or revenue streams if you plan to have more than one source of income. There is typically a big decision for whether you decide to pursue multiple revenue streams or just one, and you have to explain this reasoning in this section as well.

13
Monetization exercise and examples
14
Your founding or management team

Discuss your founding and management team. Also mention any investors, advisors that you have on your team, and the board of directors if you have a board of directors. Most importantly, list all the members of your founding team, their education, and their relevant skill sets and professional experience.

15
Your business competition

You must have a section discussing your business competition. You must also explain how you are different than your competition. You don't need to say that you are better than your competition, but you should explain how your business is unique, and how it differentiates itself from competition.

16
The cash flow statement

The cash flow statement is an important financial part of your business plan. The cash flow statement is as much a very good thing to add to this document as it is good for you to be able to look at a cash flow statement and use the cash flow statement to help you understand where all the money is going and coming from in your business. Having a cash flow statement can help you to realize what to do to stop or decrease some of your spending, and what to do to increase revenue.

17
Your business unit economics

Unit economics are a good way to look at a single transaction in your business and understand its finances at a small level. The unit economics can give you a lot of insight about the health of your business.

18
Your previous funding

If you have previous funding or investors, you should mention this. You can mention this in an appendix to he business plan in case you don't want everyone to see this information.

19
How to calculate the gross profit, net profit and the bottom line
20
How to calculate your company profit margin
21
SWOT analysis
22
When do you need a business plan?

How to raise money to start your business

1
How much money you need to raise
2
WORKSHEET: New business expenses and calculating how much you need to raise
3
WORKSHEET: Existing business expenses and calculating how much to raise
4
Fundraising paths worksheet
5
Bootstrapping your business

Most businesses don't end up raising money, and for that reason they must do something called bootstrapping. Bootstrapping is simply a way to start and grow your business by finding ways to do that without needing much money or any money. This is what most businesses must do when they start.

6
Raising money from loans

In this part of the course I explain how to raise money by getting loans, the difference between raising money from personal loans and business loans, and what options entrepreneurs typically have. It isn't easy to get a loan to start a business, but in some cases it makes sense and it is possible to get a small business loan.

7
Raising money from grants

Do you want to get a business grant? Many people ask about whether they can get a grant to start their business. It is more difficult to get a grant for businesses which have not started, but if you have started, there are a few grants available for small businesses. Check out this lecture to understand how to fund your business or project with a grant, or whether grants are not a good option for you.

8
Notes on grants

Extra resources for getting grants for your business.

9
Raising money from investors

How to get grants by getting investors. There are many kinds of different investors. The different kinds of investors are angel investors, start-up incubators, seed investors, professional venture capitalists (VC) and investors who invest in specific kinds of businesses like maybe restaurants or real estate, or local businesses, or high growth start-up companies.

10
Raising money from donations and crowdfunding

There are two ways to get donations for your business. There is the old fashioned way to get donations by reaching out do rich donors or philanthropists like many nonprofits do. And there is also a new way to get donations for your business called crowdfunding. You can raise donations for your business with crowdfunding by trying to raise money on KickStarter, IndieGoGo, or GoFundMe. It is now possible to get donations from the crowd online. It isn't easy to do crowdfunding, but it is possible.

11
Earning money from your own revenue

One of the best ways to fund your business is by doing it through the revenue of your own company. Instead of waiting for money to come from a different course, why not just earn the money from your own customers. It is, in fact, what I did with my business, and what I recommend doing to other entrepreneurs. Long-term, you will have to get the money to grow your business from your customers anyway so you might as well start to focus on making money from your customers sooner than later.

12
Creative way to raise money from future customers

One way to raise money for a product which has not already been made is to raise money from your future customers by approaching people who would be good potential customers, and offering them a lifetime discount for the product after the product is created.

13
Creative ways to raise money by hosting events and workshops

Events are a great way to get clients, extra revenue, build extra awareness, and build loyal fans. Basically, events are a great marketing strategy for most kinds of businesses. Events can range from small meetups that drum up community to educational workshops to large conferences. It all depends on the kind of business you have, your event promotion abilities, and your ultimate business goals.

14
Funding your business from part-time or full-time work

You can always fund your business by getting extra work, either on a part time basis or on some contract for a few months. It is actually what I often did when I was starting as an entrepreneur. It guaranteed me money for my efforts instead of having to waste time approaching investors or applying for grants which have the risk of being a complete waste of time if they don't pan out. So in some sense, getting a part time job or a contract job is a risk-free way to raise money for your business.

15
Website to find investors & best ways to contact those investors

AngelList is a great website where you can find tech investors of all shapes and sizes. There are many venture capitalists, seed investors, and other types of professional investors who like to invest in technologies and other industries,

Business Registration

1
Should you register your business

Many people ask me how to register their business. It is a process that is different in many different countries. In United States, in whichever state you are in, you must register your business with your state's Secretary of State office. They usually have an option where you can do it online. You should consult with a lawyer which state might be best for you to register your business because for different businesses, some states have unique advantages.

2
NEW! What is an EIN & How to get an EIN

Explanation of what is an EIN and how to get in EIN for your business.

3
NEW! What is double taxation and how to avoid it

If you have registered a business, that business may have to pay taxes on its earnings, and after the business pays you, you might have to pay taxes again. This is double taxation. In this lecture you will learn how to avoid double taxation.

4
NEW! What is a C corp and S Corp

What is an C Corp, and when it makes sense for your business to be registered as an C Corp.

5
NEW! What is an LLC and how it can benefit you

What is an LLC, and when it makes sense for your business to be registered as an LLC. An LLC is an entity type, and it often gets mixed with the concept of limited liability protection in general. While they have a lot of overlap, the LLC entity type and the concept of having limited liability protection are not exactly the same thing.

6
NEW! Doing business as yourself

What is doing business as self, and why it is a bad idea to do business as yourself.

7
NEW! Why you need a commercial bank account

Why you need a commercial bank account for your business, and why you should not mix your personal finances and your personal bank account with the bank account of your business and the income and revenue you get from your business. All businesses should ideally have a commercial bank account.

Bringing your idea into reality

1
NEW! 3 ways to do a great product launch

How to do a great launch of your product. I explain how to launch in 3 different ways. This lecture is taken from my mobile apps course, but applies to other technology startups.

2
NEW! Being first to market, pros and cons

How important is it to be first to market with your business idea? This depends on many factors, and in this part of the course I discuss some of the nuances associated with being the first to market with your product or service.

3
How to choose a great business name

How to choose a good business name and brand for your business.

4
How to choose a great website domain name

Some tips on how to get a good domain name for your business even if it feels that all the good domains have been taken.

5
What to do if you have no business experience

What you should do if you have no business experience. Should you really start a business with no experience?

6
How to set up your website quickly, cheaply, professionally, and on your own

Basic explanation of how to set up your website. Incidentally I have additional courses on how to find a great domain name and how to set up a Wordpress website in 1 day. All links to those are in the last lecture of this course.

7
Got a technical business idea? Tips to learn to code on your own!

This lecture does not necessarily need to belong in this business course, but for people who want to get into a mobile app business, creating the app is a struggle so I added a suggestion on how to learn to code in order to make your app or software product for free.

8
Increasing the lifetime value of a customer

Increasing lifetime customer value is something every business owner should try to do. Imagine the difference between a customer buying something once versus having them come back and shop at your business every month. That is a 1200% increase in revenue because you were able to make them a regular customer by increasing their lifetime customer value. It is one of the keys to a successful business.

9
NEW! My strategy for how to handle hagglers and people who want big discounts

What to do if someone doesn't want to pay full price and tries to negotiate a cheaper price. In this part of our business course I explain how I make people do a bit of work for me in order to get a cheaper price on whatever they want to buy.

10
How to increase your productivity by saying no to most things

In this part of our business course I talk about how to increase your business productivity. It is a very important point to make because every increase in productivity brings you closer to success.

NEW! Case study of my current business from idea to failures to success

1
The failure stage

In this part of our business course, I want to share with you a case study of when I was starting as an entrepreneur, and my mistakes starting a company, and how difficult and challenging it was to start a business. In the beginning, as a young entrepreneur, I had to go through a lot of failure. Failure is something I am going to do my best to steer you away from in this business course, but I can't help you prevent 100% of mistakes. You will inevitably go through some of your own mistakes and some of your own growing pains starting a business.

2
Finding growth

In this part of my case study, I talk about how I started to find initial business success, and initial growth.

3
Struggles with generating enough cash

In this part of our business course, I talk about how I initially got some business success, but it wasn't enough to sustain me, and I was still struggling. Struggle seems to be the one constant in this whole experience. No matter how much I learn and grow and how much experience I gain, there are always new struggles at every step of the way, even when everything else seems to be falling into place and succeeding.

4
Getting my business to success

In this part of our business course I talk about how to finally got to success. It was a long journey if a number of years in which every day felt like an eternity, especially when I was really struggling. But over time, I did find success, and I am still growing my business and improving it. Wish me luck. I hope my case study helps to add another perspective through which you can see your experience, and hopefully learn some of my business lessons.

Lessons from Napoleon Hill

1
Napoleon Hill section introduction
2
Principle 1: Wanting it bad enough
3
Putting principle 1 into action
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