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Starting a Business with Christian Young

Jan 7, 2025

Fight Talk: Starting a Business

Host Introduction

  • Host: Christian Young
  • Topic: Starting a business
  • Key scenarios clients face:
    1. Wanting to start a business without knowing where to begin.
    2. Being advised to start a business due to a skill.
    3. Business unintentionally starts itself.

The Five W's and an H

1. Who

  • Understand personal situation and role.
  • Financial standing and readiness to start.

2. What

  • Define what you want to do.
  • Align with personal skills and interests.

3. Why

  • Motivations for starting a business (money, independence, personal fulfillment).

4. When

  • Timing is crucial; plan effectively.
  • "It's not an 'if', it's a 'when'."

5. Where

  • Location and reach of the business: local, global, online, brick-and-mortar.

H: How

  • Develop a business plan.
  • Determine if entrepreneurship suits you or if partnership/investment is better.

Guest Speaker: Nicole, Co-founder and COO of Pound Business

Business Overview

  • Business: Pound Business (Bundt Cakes)
  • Founded by Nicole and Reggie Borders
  • Originated from high demand for Reggie's aunt's cake recipe.
  • Business founded during Thanksgiving due to high demand for cakes.

Business Development

  • Community-driven growth.
  • Transition to an e-commerce business with Shopify.
  • Expansion during the COVID-19 pandemic.
    • Local news exposure increased demand.
    • Farmer's market involvement as essential workers.

Importance of Community

  • Critical for business support and growth.
  • Nicole's involvement with the National Association of Black Accountants.
  • Mentors and friends contributed to business structuring and legal setup.

Challenges and Integration

  • Nicole balances a full-time job and role as COO.
  • Baking serves as a creative outlet.
  • Family involvement in business, maintaining personal relationships.
    • Operating agreements and role definitions.

Support Systems

  • Community and mentorship
  • Board of directors for both the business and personal guidance.
  • Importance of mental health with therapists and business coaches.

Conclusion and Socials

  • Connect with Pound Business via:
  • Business spelled as 'Bizness': B-I-Z-N-E-S-S

Full transcript