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    Who First...Then What
    Who First...Then What
    Who First...Then What
    Ebook109 pages36 minutes

    Who First...Then What

    By Elgin Carelock

    ()

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    About this ebook

    Who first...then what is a compilation of questions I have uncovered while working with entrepreneurs and business owners for the past decade. Instead of addressing the answers to the questions in a “how-to” fashion, my intent is to help entrepreneurs ask the right questions when determining if they should go into business for themselves or what the best strategies are for growing to the next level of success.

    As a business strategist, I am often called to help businesses that have run into a significant challenge or have reached the end of their knowledge base and are looking for solutions. In many cases the source of the problem is rooted in a detail that was overlooked or one they simply did not consider. Offering Who first...then what is my attempt to increase the odds of success for entrepreneurs by broadening Their perspective on what it takes to build and grow a business.

    LanguageEnglish
    PublisherElgin Carelock
    Release dateOct 21, 2021
    ISBN9781005863302
    Who First...Then What
    Author

    Elgin Carelock

    Elgin Carelock is a business strategist, coach, mentor, and educator with a passion for small businesses. As a journeyman entrepreneur, Elgin has experienced many of the “bumps and bruises” that come from being self-employed and with each setback has learned how to help others succeed. Elgin is the Chairman of a local nonprofit community development corporation that support economic empowerment in underserved areas with entrepreneurship being one of its primary tools. Throughout his career, detailed analysis and strategic planning have been pivotal to Elgin’s success and he firmly believes everyone can reach higher levels if given the opportunity to expand their knowledge base.

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      Book preview

      Who First...Then What - Elgin Carelock

      Copyright © 2021 Elgin C. Carelock.

      All rights reserved. This book or any portion thereof may not be reproduced or used in any manner whatsoever without the express written permission of the publisher except for the use of brief quotations in a book review.

      Printed in the United States of America.

      First printing, 2021.

      www.whofirstthenwhat.com

      Acknowledgements

      I must start by thanking my awesome wife of 35 years, Judy. From reading early drafts to giving me advice on the cover to putting up with me writing and editing while we were on vacation. Thank you so much, babe!

      To my amazing novelist daughter, Letitia (Kyoko M.) for putting up with my hundreds of questions during the process and never getting frustrated. Thanks sweetheart!

      Finally, thank you to my other children, Bryan and Sharon, as well as my Mom and all the other talented family members who have always believed in me and kept me laughing.

      Table of Content

      1) Introduction

      2) Who?

      a) Who are you?

      i) Personality profile

      ii) Personal SWOT Analysis

      b) Who is your target audience?

      i) Building a profile

      ii) Segmentations

      c) Who builds the product/service?

      i) Supply chain management

      ii) What is my cost of goods sold?

      iii) How do I price my product/service?

      d) Who funds the business?

      i) Personal saving

      ii) Friends and family

      iii) Traditional lenders

      e) Who do I need to help me?

      i) Distribution

      ii) Promotion

      iii) Professional services

      f) Who is your coach/mentors?

      3) What?

      a) What is an entrepreneur?

      b) What is your vision?

      c) What is your mission?

      d) What are my values?

      e) What is our organizational structure?

      f) What are my competitors doing right?

      g) What makes our products/services different?

      h) What is your story?

      i) What is our brand promise?

      j) What is your ideal brand experience?

      k) What is your culture?

      l) What is your strategic plan?

      m) What are your financial projections?

      i) Break-even

      ii) P&L

      iii) Cashflow statements

      n) What happens when your strategies don’t work?

      i) Products/Services

      ii) People

      o) What is your exit strategy?

      i) Build to sell

      ii) Legacy business

      4) Closing Thoughts

      5) Appendix

      a) Breakeven Analysis

      b) Cashflow Statement

      c) P&L Sheet

      6) References

      Introduction

      For as long as I can remember, I have always had a passion for business. As a child I always thought of ways to make money for candy or admission to the movies, even though I knew nothing about the principles of supply side economics. For me, it was a simple formula. I would find things that people either hated to do or took more time than they were willing to give and charged a nominal fee for my services.

      My neighborhood enterprises included everything from emptying trash and standing in line at the pharmacy to pick up prescriptions for the elderly women who lived in my apartment complex to wrapping gifts and decorating Christmas trees. In high school, my mom worked for a heart surgeon who kept all of his notes on

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