Shark Tank Jump Start Your Business: How to Launch and Grow a Business from Concept to Cash (28 page)

The biggest challenge facing small businesses right now is that too many good, creditworthy borrowers still can’t find the capital they need to grow and create jobs.
United States Small Business Administration. “Strengthening the Lending Environment for America’s Small Business,” http://www.sba.gov/about-sba-services/7586/5779

In total, those franchises accounted for $1.3 trillion in revenue and the creation of 7.9 million jobs.
United States Census Bureau, “Census Bureau’s First Release of Comprehensive Franchise Data Shows Franchises Make Up More Than 10 Percent of Employer Businesses,” http://www.census.gov/newsroom/releases/archives/economic_census/cb10-141.html

Entrepreneur magazine’s 2013 Franchise 500 list
. Entrepreneur
, “Entrepreneur 2013 Franchise 500,” http://www.entrepreneur.com/franchise500/index.html.

According to the International Franchise Association, more than 40 of the 105 companies that began selling franchises in 2008 had yet to report their first sale by the end of 2009.
Carol Tice, “Franchise Your Business in 7 Steps,”
Entrepreneur
, http://www.entrepreneur.com/article/204998.

According to the Business Reference Guide published by Business Brokerage Press, the “rule of thumb” valuation for a flower shop is 30–35% of annual sales + inventory, while the valuation for a veterinary practice is 70% of annual revenues + inventory.
BizStats, “Valuation Rule of Thumb,” http://www.bizstats.com/reports/valuation-rule-thumb.php.

Banner ads:
http://www.pcmag.com/encyclopedia/term/38413/banner-ad
.

Barriers to entry:
http://www.investopedia.com/terms/b/barrierstoentry.asp
.

Capital:
http://www.businessdictionary.com/definition/capital.html
.

Cash flow:
http://www.businessdictionary.com/definition/cash-flow.html
.

Equity ownership:
http://www.investorwords.com/1726/equity.html
.

Franchisors:
http://www.businessdictionary.com/definition/franchisor.html
.

Intellectual property
:
http://www.businessdictionary.com/definition/intellectual-property.html
.

Letter of intent:
http://www.businessweek.com/small-business/legal-forms/diyl-business-
Marketing:
http://www.investopedia.com/terms/m/marketing.asp
.

Market share:
http://www.businessdictionary.com/definition/market-share.html
.

Proof of concept:
http://www.businessdictionary.com/definition/proof-of-concept.html
.

Public relations:
http://www.businessdictionary.com/definition/public-relations.html
.

Revenue:
http://www.businessdictionary.com/definition/revenue.html
.

Target market:
http://www.entrepreneur.com/encyclopedia/target-market
.

Turnkey operation:
http://www.investorwords.com/5093/turnkey.html
.

Michael Parrish DuDell is an author, speaker, and entrepreneur. Before founding his current company, race + vine, a marketing consulting firm, Michael was the editor of ecomagination.com—GE’s cleantech and sustainable innovation website—and the host of ecomagination.com’s web series
Green Room Live
. Prior to that, Michael served as managing editor of The Domino Project, a publishing company started by marketing guru Seth Godin and powered by Amazon.com. Michael has spoken for and consulted with companies ranging from startups to Fortune 500s, including such well-known organizations as American Express, L’Oreal, Kraft, Visa, and many more. He is a One Young World Ambassador, a member of the Young Entrepreneur Council, and an advisor to numerous companies, including the New York Tech MeetUp, the largest tech organization in New York. Learn more at
MichaelParrishDuDell.com
or on Twitter @notoriousMPD.

This book is intended as a reference guide in the areas of starting and growing a business. The information given here is to help you make informed decisions for your business; it is not intended as a substitute for, or, to replace the advice of a qualified professional such as a lawyer, accountant, or financial advisor. The author and publisher specifically disclaim any liability arising directly or indirectly from the use of the information in this book.

Copyright © 2013 Sony Pictures Television Inc.

All photography © American Broadcasting Companies, Inc.

All rights reserved. No part of this book may be used or reproduced in any manner whatsoever without the written permission of the Publisher.

Printed in the United States of America. For information address Hyperion, 1500 Broadway, New York, New York 10036.

Library of Congress Cataloging-in-Publication Data

DuDell, Michael Parrish

    Shark tank jump start your business : how to launch and grow a business from concept to cash / Michael Parrish DuDell.

            pages cm

    ISBN 978-1-4013-0620-5

    1. New business enterprises. 2. Small business—Management. 3. Strategic planning. I. Title.

    HD62.5.P377 2013

    658.1’1—dc23

                  2013025196

FIRST EDITION

10 9 8 7 6 5 4 3 2 1

We try to produce the most beautiful books possible, and we are also extremely concerned about the impact of our manufacturing process on the forests of the world and the environment as a whole. Accordingly, we’ve made sure that all of the paper we use has been certified as coming from forests that are managed, to ensure the protection of the people and wildlife dependent upon them.

E3