Roadmap to Financial Success for Entrepreneurs

Roadmap to Financial Success for Entrepreneurs By Alex Barr n & Jorge Zavala

WHY ENTREPRENEURSHIP? Am I Cut out for it? Is it worth the risk?

There are 2 Types of People in Life Employees Work & get paid salary or wages Produce products Provide services Implement strategies & Execute business plan Entrepreneurs Start businesses Risk capital Employ people Create wealth Innovate products or services 3

What is an Entrepreneur? Entrepreneurs are the lifeblood of a country Peter J. Daniels Entrepreneurs are: Visionaries Risk Takers Leaders Creators Self Driven Goal Oriented Take Personal Initiative Innovative Entrepreneurs: Create jobs for others Create wealth thru their ideas, knowledge, products or services Provide opportunities 4

Why Become an Entrepreneur? 1) It creates a special kind of Freedom. This freedom allows you to pursue a cause or endeavor that will guide your future. It could provide the financial resources you need to fulfill your dreams. 2) You will become a participant rather than a spectator. You can set standards for ethics and morality. 3) By owning your own business, you cannot be fired or be made redundant. 4) You can spend time with your family and give them a special lifestyle. You don t have to work 18 hrs/day, 7 days a week. 5) It is a strong message to the community. You have faith and have removed yourself from mediocrity. 5

Why Become an Entrepreneur? 6.) You are a light to the world. You are a leader, not a maintenance seeker or manager. 7.) It is a sense of responsibility. You become a benefit to the community and the country you live in. 8.) It is an advantage. You will develop influence over people and events. You will be able to invest in your local church and help others. 9.) You will be able to build and leave a heritage for the future generations of your family. 10.) Your own fulfillment as a leader and a provider within your own household will ensure respect, responsibility, and repetition future generations will look at what you did and copy it. - Peter J. Daniels 6

Why Entrepreneurship? Entrepreneurship is the best way to achieve Unlimited Wealth Potential. In a job an employee gets paid based on a Wage of $/hr or a Salary of $/year. A sales person gets paid based on a Commission of % of Sales. An entrepreneur gets to keep all the profits after the expenses are paid. PROFIT = REVENUES - EXPENSES 7

Why Entrepreneurship? PROFIT = REVENUES - EXPENSES Once you cover the fixed expenses, the more revenue (sales) you make, the greater your profit! Example: Sales per Month 0 1 2 3 4 5 Revenues Fixed Expenses Variable Expenses $ (20,000) $ - $ $ $ 25,000 (20,000) (5,000) $ 50,000 (20,000) $ (10,000) $ 75,000 $ (20,000) $ (15,000) $ 100,000 $ (20,000) $ (20,000) $ 125,000 $ (20,000) $ (25,000) $ PROFIT (20,000) $ $ - $ 20,000 40,000 $ 60,000 $ 80,000 $ Entrepreneurship is the best way to achieve Unlimited Wealth! 8

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