CULMINATING PROJECT:

I CAN BE MY OWN BOSS!By

Jasen Turnquist

• Introduction

• Overview of project

• Research and Investigation Process

• Conclusions

• Final Thoughts

Criteria

It all starts with this question:

What do you want to dowhen you graduate?

Introduction

NO!!

So for me, the answer is:

I want to bemy own boss

Overview• Find a mentor

• Type of business

• Equipment inventory and new equipment research

• Researching legal requirements

• Financial planning

• Business strategies

• Create a business plan

Finding A Mentor• Business sense

• Experienced with starting a business

• Tim Moore President 5 Star Entertainment Capital

Finding A Mentor• Business sense

• Experienced with starting a business

• Paul Nurkka Independent Contractor

Type Of Business• Skill assessment

• Yard care• Landscaping• Cleaning and trash removal• Light construction and repair

• Survey to determine tasks that are in demand locally• Many suggested other jobs they needed help with and other

people they knew also needed help

• Results: 1/3 of the people I surveyed said yes, they needed some assistance with these types of tasks

Jasen Turnquist, home and garden guru!

Equipment Inventory & Equipment Research

• Yard tools

• Hand tools

• Ladders

• Electric trimmers

• Mowers

• A vehicle

Legal Requirements• http://Access.wa.gov/topics/business

• http://bls.dor.wa.gov

• http://www.ora.wa.gov/business.asp

• Licenses• State business license• City/County business licenses http://www.ci.edmonds.wa.us/

• Certifications

• Permits

Financial Planning• Banking

• Taxes• State B & O Taxes• Federal Income Taxes• Sales tax

• Receipts and documentation• Permits. licenses and fees• Receipts for all expenses• Equipment costs (initial and replacement)

• Record of all income

• My Personal Finance course helped me understand the financial elements such as banking, taxes and recordkeeping

• My Economics course helped as well with things my mentor had recommended like the importance of a business plan and a better understanding of taxes

Business Strategies• The name of the business

• Determining who my client base was

• Advertising• Signs• Ads in local publications• Posters in community centers• Word of mouth

Create a Business Plan• Allows you the best planning to avoid mistakes

• Prepares you for seeking financial aid and or credit

• Helps keep your emotions in check

• Gives you a game plan

• Sources of Business plan info:

• SBA.GOV

• www.bplans.com

• www.score.org

Could I do this?

“You Gotta Have a Plan”

Conclusion• I have the ability

• I have the desire

• I have the opportunity

• I don’t have transportation

• I don’t have startup capital

Final Thoughts• The government makes it harder than it should be

to start a business

• I started this project not understanding all that was involved

• I learned a lot and now I know I could do it

• I am more determined than ever to succeed at my own business

“Whenever you see a successfulbusiness, someone once made a

courageous decision.”

― Peter F. Drucker

CULMINATING PROJECT:

I CAN BE MY OWN BOSS!By

Jasen Turnquist