Page 128 -

Star t Y our Own Business

The Beading Café
302 Cary Ave., Brookline, MA 02020
Tel: (617)890-XXXX Fax: (617) 890-YYYY
www.TheBeadingCafé.com

Suggestion Pause here and mark this page. If you already have identifi ed
:
an opportunity, use The Beading Café as a template to build your own Execu-

tive Summary. This brief document will significantly reduce your risks and
increase your chance of success.

Step 4: Create Your Business Identity

Let me use one of my own ventures as an example. AngelDeals.com is a vir-

tual business whose mission is to help entrepreneurs find funding over the
Internet, by giving them access to venture capital and “angel” investor data-
bases, as well as business planning tutorials and checklists.
To create my business identity, I went to www.GoDaddy.com to fi nd a
domain name for my venture. Since the goal of my network was to connect
entrepreneurs with private or “angel,” investors, I registered the name
AngelDeals.com . Then I went to City Hall in Boston and paid $50 for a busi-
ness permit to do business in Boston under that name (a DBA, or Doing
Business As). Later, with help from a business lawyer, I would establish the
company as a C corporation, S corporation, a limited liability company, or a
nonprofit 501(c)(3) business. (In Chapter 20 , “Protect Your Assets,” J. J.

Childers explains the steps in detail to choosing and forming the right busi-
ness structure.) Also check out the library, and http://smallbusiness.fi ndlaw.
com/business-structures/business-structures-quickstart.html . I strongly rec-
ommend that you seek the services of a business lawyer and accountant
regarding the formation of your business.
Next, I went to a local bank and opened a checking account in my name,
doing business as AngelDeals.com . I deposited $500 into this free checking
account and ordered free checks. Then I went to a local office supply store

and ordered professional-looking business cards. Finally, I created the format

for letterhead and envelopes in Microsoft Word. In less than five hours, I had
my identity. Why is this important for you? The identity grows on you, and
every time you hand out a business card, or send a letter or e-mail, or write a
check, you are telling the world: Here comes my business! As you grow into
your new identity, you become unstoppable.

105

8/23/07 3:15:48 PM
c11.indd 105 8/23/07 3:15:48 PM
c11.indd 105