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9/6/2013 VSSCyberOffice.com 1
Welcome to The Online Virtual
Training Session!
General Housekeeping Rules:
- Please raise you hand if you have a question
- Feel free to type your questions throughout today’s presentation, using the text chat portion of the virtual classroom
- If you need to step away from your computer, please place an (x) by your name in the participant information window
Feel comfortable and Let’s have fun!
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Quick Virtual Classroom
Features Overview Participant Poll:
How many of you have ever
participated in an online virtual
training or seminar?
Place one of these symbols by your name
= I have
X = Never have
Virtual Business Ownership Training “ DEI - Mentorship Breakfast Series”
Detroit Entrepreneurship Institute, Inc.
Women’s Business Development Center
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AGENDA
• Welcome & Overview
• Meet Your Presenter
• Introductions
• Seminar Review
• Closing Comments
• Questions & Answers
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About the Presenter
VICTORIA M. PARHAM is an Army spouse and veteran (17 years) , mother, visionary entrepreneur, an advocate for virtual/telework initiatives and quality of life in the workplace. She is the president & CTO of VSSCyberOffice.com, a wholly virtual support services and entrepreneurial training firm with virtual office locations in:
Alaska | Virginia | Texas | District of Columbia
Community Involvement:
Commissioner – 2 yrs
Current Mentor for SCORE.org (National)
Delegate – Mayor’s Kitchen Cabinet
Advisor – Committee on Veterans Business Affairs
Media-Featured:
HomeBusiness Magazine | Fast Company Magazine | Black Enterprise Magazine | TechTV | AlaskaOnlineTV | Wells Fargo Business Advisor Magazine
Awards and Accomplishments:
2001 Recipient - Alaska Top Forty Under 40 Award
Guest writer for numerous business publications
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Seminar Objectives
• Identify your purpose, skills and abilities
• Move from idea to implementation phase
• Communicate effectively in cyberspace
At the end of today’s session you’ll have a better
understanding of how to:
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Pre-Startup Preparation
• Starting with an Idea - A formulated thought or opinion
Personal Shopper Wake-up Service Referral Service Freelance Writer
Web Designer Grant Writer Proposal Writer Event Planner
Interpreter Transcriber Researcher Illustrator
Virtual Assistant Professional
Consultant
Independent
Sales Rep
Human Resource
Consulting
Voice Over Agent Translators Fashion
Consultant
Attorney
Examples of Potential Virtual Businesses
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Self Analysis - I
Personal Characteristics
Going into business does require certain characteristics. Performing a
self-analysis will help you to learn about YOU.
Tip: Be honest with yourself….
1. Do you enjoy serving others? YES or NO
2. Do others seek you out for advice? YES or NO
3. Are you a leader? YES or NO
4. Are you comfortable making major decisions? YES or NO
5. Are you a people person? YES or NO
6. Do you handle rejection well? YES or NO
7. Are you comfortable working alone? YES or NO
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Self-Analysis - II
Success Honesty Family Integrity
Creativity Loyalty Courageous Optimistic
Personal Values: Identify what’s deeply meaningful in your life
Personal Attributes: What do you Bring to The Table?
Knowledgeable Professionalism Perspective Good Communicator
Team Player Assertiveness Smarts Helpfulness
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Self-Analysis - III
Business Realities – What to expect…
1. Did you know that running your business may require you to
work 10-18 hours a day and perhaps on holidays? YES or NO
2. Are you aware of the physical stamina required to handle long
work schedules? YES or NO
3. Is your family aware of the strains they must endure particularly
during the startup phase of your business? YES or NO
4. Are you prepared to use your savings as part of your startup
capital? YES or NO
5. Are you prepared to contribute hours of sweat equity to the
growth and success of your business? YES or NO
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Self-Analysis - IIII
Knowledge – the fact or condition of knowing something with
familiarity gained through experience or association
Familiar with your industry, experienced in your
profession; understanding your industry, profession or task
Skills – competence in doing
Your ability to execute or perform
Ability – natural aptitude or acquired proficiency
Proficient or proficiency
Definitions Source: MERRIAM-WEBSTER ONLINE (www.Merriam-Webster.com)
Knowledge, Skills & Ability
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Conducting a Financial Analysis
The number one reason for small business failure is
insufficient funds (Not enough money to keep the
business going). It is absolutely critical to analyze your
current financial status prior to going into business.
Some questions to consider:
How much money do you have?
How much money do you need to start your business?
How much money will you need to remain in business?
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Market Niche
When choosing a specialty or niche market consider the following:
Sizable: Your market segment should be distinct, but not so small that you won't
be able to get enough customers to make a profit.
Reachable: There should be publications, media, organizations, or events for
your market so you'll be able to let potential customers know you exist.
Self-defining: Your market should have – or feel they have – special needs.
Sustainable: It’s important to select a niche that can support your business over
the long term, where you won't quickly deplete the supply of customers. Avoid
specialties highly affected by changes in the economy, and be sure it's something
you won't get bored with quickly.
Rule No. 1 – Know thy Market
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Conducting a Market Analysis
collecting facts about potential clients to determine how well your
product or service will sell.
When conducting your market analysis consider the following:
1. What clients are you interested in serving?
2. What will your client’s needs be?
3. Are your products or services in demand?
4. Will your prices be competitive?
5. Have you identified your competitors? If so, have you also
identified what makes your company unique?
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Conducting Marketing Research
provides pertinent information about the buying habits, needs,
and preferences of prospective clients.
Examples of Market Research Techniques
1. Observation
2. Online surveys or polls
3. Personal Interviews
4. Snail Mail Surveys
A great place to begin learning all about marketing techniques, research and much more is
the Online Women’s Business Center located at:
http://www.onlinewbc.gov/docs/market/
Communicating in the Virtual Environment
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Communicating in the Virtual
Environment
• Listen – to what your clients are saying
• Be Aggressive – ask questions, learn about your clients needs and customize your service or product to meet their needs
• Smile – a genuine smile releases positive energy
• Be available – not only do clients want your Ability but rely on your Availability
• Perfect your marketing/elevator speech – keep it short, keep it simple (1 sentence or less) and Practice, Practice, Practice
• Be resourceful – provide your clients with the information they need to remain competitive (whenever they need information, guess who they’ll call?)
• Don’t be Shy – ask for referrals and or references
• Speak in your own voice – communicate what you do in a way that’s comfortable for you
• Be comfortable in your own skin – be yourself
• Practice – Practice – communicating is an art, not a science
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How far we’ve come…
Hand written correspondence Word processing software
Snail mail Email
Western Union Gram Fax
Flying thousands of miles Video conferencing
Telephone tag Teleconferencing
Tape based answering machines Digital voice mail
9-5 24/7/365 via a Website
Traditional-Then Technology-Now
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Most Popular Communication Tools:
Participant Exercise:
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Setting up your Virtual Office:
The Basics…
• Personal Computer with:
– Email capability
– Productivity software (e.g., WordPerfect, Microsoft Office)
– Printer (both laser and inkjets are very affordable)
– Internet Access (Min. dialup56k or Recom: high speed)
– Dedicated telephone with business voicemail system
» Cell phone are becoming top choice for virtual business owners because of its portability..
• Options
– Camera for video conferencing
– Portable printer
– Laptop
– Stand alone fax (Recom: www.efax.com)
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Thanks for Participating!
Contact Information:
Victoria M. Parham, President & CTO
VSSCyberOffice.com.
e: vparham@vsscyberoffice.com
w: www.vsscyberoffice.com
Questions?