Opening Soon, Inc. - Binder - Final
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Business Development Services
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About
Contents
90 Days to Launch Model .............................................................................................................. 3
90 Days to Launch Checklist.......................................................................................................... 4
What is Your Big Idea?
An Idea Is an Idea, Is an Idea ........................................................................................................ 5
Where Do Business Ideas Come From?....................................................................................... 6
Hobbies and Interests.................................................................................................................... 6
Need................................................................................................................................................ 6
Plight ............................................................................................................................................... 6
What’s Your Story?
You & Wellness ............................................................................................................................... 8
You & Wellness / Platform for Leadership.................................................................................... 8
Holistic Leadership......................................................................................................................... 8
Entrepreneurship & Small Business Knowledge.............................................................. 9
Entrepreneurs deliver and distribute............................................................................................ 9
Entrepreneurship Competency Model......................................................................................... 9
Ideation – Design Thinking – Product Development........................................................ 10
Business, Marketing, & Strategic Plan .................................................................................. 11
Business Plan .................................................................................................................................. 11
Marketing Plan................................................................................................................................ 11
Business Plan Outline..................................................................................................................... 11
Marketing Plan.................................................................................................................................. 11
Marketing Traditional vs. Digital ................................................................................................... 12
What is Digital Marketing? ............................................................................................................ 12
eCommerce Business Models & Platforms .................................................................................. 13
Funding ............................................................................................................................ 14
Funding Startup & Industry........................................................................................................... 15
Business Registration, Compliance, Insurance & Legal .............................................................. 16
Bibliography ..................................................................................................................................... 17
About
The Evolution has created an
Entrepreneurial Revolution
The time is now to start planning to open a new
business, rebrand an existing business, or
develop a new product or service.
We recommend starting a new business as a side
gig, because you will need to stabilize before
making it a full-time job and hire employees. Most
businesses fail within the first three years, so
starting a business while employed is the best thing
to do. Failure in entrepreneurship is learning, not
the end. So often, failure results in a better product
or service.
Thousands of jobs are being eliminated daily
because of Automation, The Internet of Things, and
now Cyberphysical Systems. Jobs lost are not
coming back, but new jobs are being
created. Those new jobs are not as labor
intense, but thinking intense. Yes, research,
critical thinking, design, and evaluation. As an
employee or employer an entrepreneurial mind is a
hot commodity.
Market
Therefore, we present to you, Opening Soon,
Inc. – 90 Days to Launch. Learning, Tools,
Coaching and a Business Community to help
you REVOLT, yes, join the revolution. The
new Workforce of Entrepreneurs selling
Viable Products & Services to Global
customers.
90 Days to Launch Model
We have developed a simple model to help
all people with all abilities to learn to develop
products/services and launch their
business. This class provides an overview,
but we will provide self-study, team
learning & planning, and of course
higher-education recommendations.
Learning is lifelong, you have to be willing
to learn and know how you learn best. Make
it fun, intriguing, and share with family,
friends, and colleagues. Opening a business
is a risk, but worth it if you have a product
or service that will create a positive impact
in your community and beyond.
Launch
Design
& Test
Plan
Register
Fund
Write
PLAN
Table 1: Ideas - Failed & Success
01 | Opening Soon, Inc. – 90 Days to Launch
90 Days to Launch Checklist
• Write Your Story - write your story and journal about your vision
• Design & Test – do a test run / pilot with a few people in your target audience
• Plan – Write your Business, Marketing, Strategic Plans, & Startup Budget
• Register – Register your business with State, Federal, & Local authorities
• Fund your startup budget
Design
Thinking
Register & Plan
Prototype & Test
Design
Write
Launch
Fund Your Launch
Viable Product
RESULTS OF THE WRITING,
DESIGN, PROTOTYPE, &
TEST FLOW INTO THE PLAN
WRITING & BUDGET.
CAPABLE OF WORKING
SUCCESSFULLY;
FEASIBLE
1st Mode: Empathize
2nd Mode: Define
3rd Mode: Ideate
4th Mode – Prototype
5th Mode – Test
Dictionary - Viable 2019
No more guessing or estimating off of the
industry and a competitor’s ability. Design
thinking is your personal product/service
test. Data from the test enable you to make
the decision to take the product/service to
market. You might have several test runs
before making the decision.
(Ms. Melissa J. Hill, 2019)
Opening Soon, Inc. – 90 Days to Launch | 02
What is your Big Idea
An Idea is an Idea, is an Idea
Ideas for creating a business, invention, or
prod-uct come from many different
sources. The quality of those ideas subject
to the user and the markets of availability.
Some of the things we take for granted
everyday were likely once considered silly,
useless, and crazy.
When City Center Bank of Syracuse, NY, advertised
a new drive-thru banking service in 1928
it may have raised a few eyebrows. How the
bank arrived at this new concept could have
been related to limited parking due to the
popularity of the automobile, time saving for
their custom-ers, or just more efficient for the
operation of the business. This concept spilled
over to the
Pogo-Copter – A standard pogo stick
with a propeller attached to send you
into a floating state each time you
bounce. Patented in 1969.
food industry in 1948 when Harry and Ester Snyder
opened the first In-n-Out in California; this new
concept eliminated the need for car hops (outside
waitresses). A drive-thru is a convenience that
people now use as part of their daily lives for banking,
fast food, pharmacy needs, and many others,
including a wedding chapel in Las Vegas. Sometimes
a strange idea turns into a great idea once
people try it. The hardest part of trying something
new is the fear of failure. Sadly, there are no guarantees.
The best plan, the best marketing, and the
best idea cannot ensure a successful business, but
it helps. It really comes down to knowing who your
customers are and what they want.
Take a look at these two ideas. One failed, one is successful.
Idea Commonalities Result Why
-Made from existing
products/ideas
-Dangerous
Failed
Unknown
One end of an elastic cord to a tall
structure and the other end to a person,
then leaping from the structure to free
fall and then bounce in the air.
-Made from existing
products/ideas
-Dangerous
Succeeded
Customers were
willing to pay for
the thrill
Table 1: Ideas - Failed & Success
Note:
You are a very important part of your business development, but as you proceed your
focus must start shifting to your customers and what their idea of a good business or product is.
03 | Opening Soon, Inc. – 90 Days to Launch
Where Do Business Ideas Come From?
Hobbies and Interests
Having passion for what you do is important for your
success, but sometimes businesses are started just
because there’s a need and someone with an
entrepreneurial mind sees that need and realistically fills
it. Determining what type of business might be needed is
easy; determining if it will work is a little harder.
Think about this. What’s missing? Is there a service or
business that people in your area have to travel
elsewhere to use or shop? What are people complaining
about? Maybe it’s a problem that could be solved if there
was a business to meet that need. What works in other
cities? Sometimes people don’t know they need
something until they experience it.
Figure 4: Gary's Model Train Shop
Need
When turning your hobby into a business you can be
assured that you have passion for what you want to do.
Passion, however, is not the only thing you need to
consider. You may love to play golf and want to turn that
into a business. There are many things you could do, such
as giving lessons, open a golf store, operating a golf
course, etc. Ask yourself these questions before turning
your hobby into a business:
Do you have the skills to do it well?
If your hobby becomes your job, will you still be as
passionate about it?
How does making your hobby profitable affect the other
aspects of your life?
Figure 5: Next Laundromat
What works in other cities?
Sometimes people don’t know they need something until they experience it.
Opening Soon, Inc. – 90 Days to Launch | 04
What’s Your Story?
Ideas for creating
a business,
invention, or
product come
from many
different
sources. The
quality of those
ideas subject to
the user and the
markets of availability.
Some of
the things we take for granted everyday were
likely once considered silly, useless, and crazy.
When City Center Bank of Syracuse, NY,
advertised a new drive-thru banking service in
1928 it may have raised a few eyebrows. How
the bank arrived at this new concept could
have been related to limited parking due to
the popularity of the automobile, time saving
for their customers, or just more efficient for
the operation of the business. This concept
spilled over to the food industry in 1948 when
Harry and Ester
Snyder opened
the first In-n-Out
in California;
this new concept
eliminated
the need for car
hops (outside
waitresses). A
drive-thru is a
convenience
that people now
use as part of their daily lives for banking, fast
food, pharmacy needs, and many others,
including a wedding chapel in Las Vegas.
Sometimes a strange idea turns into a great
idea once people try it. The hardest part of
trying something new is the fear of failure.
Sadly, there are no guarantees. The best plan,
the best marketing, and the best idea cannot
ensure a successful business, but it helps. It
really comes down to knowing who your customers
are and what they want.
05 | Opening Soon, Inc. – 90 Days to Launch
You & Wellness / Platform for Leadership
Holistic Leadership
• INTELLECTUAL UNDERSTANDING - FOCUSES ON STRATEGIC THINKING, THE ACQUISITION OF NEW
KNOWLEDGE, AND INDUSTRY AND BUSINESS INSIGHTS — ELEMENTS THAT SUBJECT-MATTER
EXPERTS AND FACULTY IN BUSINESS SCHOOL EXECUTIVE EDUCATION PROGRAMS TYPICALLY
DELIVER.
• EMOTIONAL AND SOCIAL COMPETENCE - GETTING THINGS DONE IN ENTERPRISES AND WORKING
THROUGH ISSUES OF TRANSFORMATIONAL CHANGE REQUIRES LEADERS TO HAVE SUPERIOR SKILLS IN
ESTABLISHING AND MAINTAINING RELATIONSHIPS.
• PHYSICAL AND MENTAL HEALTH - MANY LEADERS WORK LONG AND DEMANDING DAYS, SOMETIMES
COMBINED WITH INTENSIVE (INTERNATIONAL) TRAVEL AND IRREGULAR TIMES FOR EXERCISE,
RELAXATION AND EVEN MEALS.
• SPIRITUAL INSIGHT - SPIRITUAL DEVELOPMENT, TO A LARGE EXTENT, CENTERS ON THE PERSONAL
VALUES OF LEADERS. WHAT IS IMPORTANT FOR THEM IN LIFE? WHAT DO THEY WANT TO ACHIEVE
PERSONALLY? HOW DO THEY ENVISION THEIR LEGACY? HOW DO THEY TREAT PEOPLE? WHAT’S THEIR
VISION ON THE WORLD AND THE ENVIRONMENT? HOW DO THEY CONNECT WITH PEOPLE?
• A HOLISTIC APPROACH - THE COMPLEX DEMANDS OF THE 21ST CENTURY REQUIRE LEADERS WHO
ARE SKILLED AND AWARE IN ALL FOUR AREAS.
(Nick van Dam, 2007)
You & Wellness
WELLNESS - THE STATE OF BEING IN GOOD HEALTH,
ESPECIALLY AS AN ACTIVELY PURSUED GOAL. WE MUST BE FIT.
OCCUPATIONAL / INNOVATION / ENTREPRENUERSHIP –
FAMILY, EDUCATION, WORKFORCE, & COMMUNITY ARE THE
TRAINING GROUND FOR MOVING INTO ENTREPRENUERSHIP.
YOU MUST KNOW PEOPLE, PROCESS, TECHNOLOGY, AND
HOW TO LOCATE RESOURCES.
SOCIAL & INTELLECTUAL – ONE’S SOCIAL CIRCLE MUST BE IN
ALIGNMENT AND BALANCED. LIFELONG LEARNING FORMAL
OR INFORMAL IS REQUIRED FOR ONE TO REACH THE
PENACLE OF OCCUPATION/CAREER AND MOVE INTO
ENTREPRENUERSHIP.
MENTAL & PHYSICAL – ONE CAN LIVE A WELL LIFE WITH AN
INFIRMITY. TAKE YOUR MEDICATION AND/OR USE YOUR
APARATUS. WE ALL GOT SOMETHING GOING ON.
SPIRITUAL / VALUE BELIEF – FOUNDATION / SPEAKING
PLATFORM. YOU HAVE TO BELIEVE THAT YOU CAN BE AN
ENTREPRENUER.
Mindfully focusing on
wellness in our lives builds
resilience and enables us to
thrive amidst life’s
challenges.
(National Wellness Institute, 2019)
Opening Soon, Inc. – 90 Days to Launch | 06
Entrepreneurship &
Small Business Knowledge
Training Administration - Competency Model
07 | Opening Soon, Inc. – 90 Days to Launch
Ideation, Design Thinking,
Product Development
Figure 5: Next Laundromat
Ideation is the process where you generate
ideas and solutions through sessions such as
Sketching, Prototyping, Brainstorming,
Brainwriting, Worst Possible Idea, and a
wealth of other ideation techniques.
Ideation is also the third stage in the Design
Thinking process. Although many people
might have experienced a “brainstorming”
session before, it is not easy to facilitate a
truly fruitful ideation session. In this article,
we’ll teach you some processes and
guidelines which will help you facilitate and
prepare for productive, effective, innovative
and fun ideation sessions.
“Ideation is the mode of the design process in which you concentrate on idea generation.
Mentally it represents a process of ‘going wide’ in terms of concepts and outcomes. Ideation
provides both the fuel and also the source material for building prototypes and getting
innovative solutions into the hands of your users.” – d.school, An Introduction to Design
Thinking PROCESS GUIDE
So often we start with an idea, open a business, and just try selling the product or service. Marketing
has always been an afterthought for most small businesses, but now, must be in the forefront.
1 st Mode: Empathize – It is your effort to
understand the way they do things and why,
their physical and emotional needs, how
they think about the world, and what is
meaningful to them.
2 nd Mode: Define – Your chance, and
responsibility, as a design thinker to define
the challenge you are taking on, based on
what you have learned about your user and
about the context.
3 rd Mode: Ideate – Break that larger
challenge up into smaller actionable pieces.
4 th Mode – Prototype – producing an
early, inexpensive, and scaled down
version of the product in order to reveal
any problems with the current design.
5 th Mode – Test – the end to end process
of marketing, sales, service, developing,
packaging, delivering/distributing and
measuring
Opening Soon, Inc. – 90 Days to Launch | 08
Business, Marketing & Strategic Plan
(Interaction Design Foundation, 2018)
Business Plan – A written document describing the
nature of the business, the sales and marketing strategy,
and the financial background, and containing a projected
profit and loss statement. This is the Executive
Plan that usually.
Marketing Plan – The written document that describes
your advertising and marketing efforts.
Strategic Plan – Operations Management level plan
that documents the strategy, people, process, technologies,
and resources needed to market, sell, and
distribute/deliver products and services.
Figure 5: Next Laundromat
A business plan covers the “who” and “what”
of the business. The strategic plan gives us the
“how” and “when.”
Business Plan Outline
1. EXECUTIVE SUMMARY - THIS IS AN OVERVIEW OF YOUR BUSINESS AND YOUR PLANS. IT COMES
FIRST IN YOUR PLAN AND IS IDEALLY ONLY ONE TO TWO PAGES. MOST PEOPLE WRITE IT LAST,
THOUGH.
2. OPPORTUNITY - THIS SECTION ANSWERS THESE QUESTIONS: WHAT ARE YOU ACTUALLY SELLING
AND HOW ARE YOU SOLVING A PROBLEM (OR “NEED”) FOR YOUR MARKET? WHO IS YOUR
TARGET MARKET AND COMPETITION?
3. EXECUTION - HOW ARE YOU GOING TO TAKE YOUR OPPORTUNITY AND TURN IT INTO A
BUSINESS? THIS SECTION WILL COVER YOUR MARKETING AND SALES PLAN, OPERATIONS, AND
HOW YOU’RE GOING TO MEASURE SUCCESS.
4. TEAM AND COMPANY - INVESTORS LOOK FOR GREAT TEAMS IN ADDITION TO GREAT IDEAS. USE
THIS CHAPTER TO DESCRIBE YOUR CURRENT TEAM AND WHO YOU NEED TO HIRE. YOU WILL
ALSO PROVIDE A QUICK OVERVIEW OF YOUR LEGAL STRUCTURE, LOCATION, AND HISTORY IF
YOU’RE ALREADY UP AND RUNNING.
5. FINANCIAL PLAN - YOUR BUSINESS PLAN ISN’T COMPLETE WITHOUT A FINANCIAL FORECAST.
WE’LL TELL YOU WHAT TO INCLUDE IN YOUR FINANCIAL PLAN.
6. APPENDIX - IF YOU NEED MORE SPACE FOR PRODUCT IMAGES OR ADDITIONAL INFORMATION,
USE THE APPENDIX FOR THOSE DETAILS.
09 | Opening Soon, Inc. – 90 Days to Launch
Marketing Traditional vs. Digital
Marketing is the management process
through which goods and services
move from concept to the customer. It
includes the coordination of four
elements called the 4 P's of marketing:
(1) identification, selection and
development of a product,
(2) determination of its price,
(3) selection of a distribution channel
to reach the customer's place, and
(4) development and implementation
of a promotional strategy.
(Business Dictionary - Definition
Marketing, 2019)
How are you going to reach,
engage, and sell to your target
audience, market, clientele? You must
have a plan. Traditional marketing is
print, tangible brochures, newspapers,
billboards, magazines, commercials,
etc. You will still need traditional
marketing for clients that still seek
information from these sources.
Traditional marketing strategies can
be costly, but their digital competitor
is driving down costs. If you can
imagine the costs of traditional
marketing ranging from a Super Bowl to a local Metro News
advertisement.
The Design Thinking phase outputs will provide facts
about your empathy for your client. You will also have data
defining the needs, wants, and behaviors of your client. If
you cannot confirm how to market, engage, and sell to the
customer, then you’ll end up with product & services sitting
on the shelf.
The Design Thinking phase outputs will provide facts
about your empathy for your client. You will also have data
defining the needs, wants, and behaviors of your client. If
you cannot confirm how to market, engage, and sell to the
customer, then you’ll end up with product & services sitting
on the shelf. The data will also be used to take your
marketing into the digital realm.
What is Digital
Marketing?
The promotion of
products or brands via one
or more forms of electronic
media. For example,
advertising mediums that
might be used as part of the digital marketing strategy of a
business could include promotional efforts made via the
Internet, social media, mobile phones and electronic
billboards, as well as via digital and television and radio
channels. (Business Dictionary - Definition - Digital
Marketing, 2019)
Figure 5: Next Laundromat
CBS Corp., which will broadcast the big game from
Atlanta on Feb. 3, is selling 30-second commercials for
$5.1 million to $5.3 million, people familiar with the
matter said.
(Super Bowl Ad Prices Stall After Years of Relentless Increases, 2019)
Opening Soon, Inc. – 90 Days to Launch | 10
e Commerce Business Models
& Platforms
Figure 12: Ecommerce Process
You must have a distribution plan, supply chain partners,
secure pay, and inventory.
“In a nutshell e-commerce is the process of
buying and selling of produce and
products by electronic means such as by
mobile applications and the Internet. ...
As the internet becomes ingrained in our
daily lives and routines, acceptance of
ecommerce continues to grow, and
businesses are taking advantage of this.
(Ecommerce Platforms - Glossary - Ecommerce, 2019)
eCommerce Business Models
Business - to - Business (B2B)
Business - to - Consumer (B2C)
Consumer - to - Consumer (C2C)
Consumer - to - Business (C2B)
Business - to - Government (B2G)
Government - to - Business (G2B)
Government - to - Citizen (G2C)
11 | Opening Soon, Inc. – 90 Days to Launch
Opening Soon, Inc. – 90 Days to Launch | 12
Lean Canvas is a 1-page
business plan template created
by Ash Maurya that helps you
deconstruct your idea into its
key assumptions. It is adapted
from Alex Osterwalder's
Business Model Canvas and
optimized for Lean Startups. It
replaces elaborate business
plans with a single page
business model.
Business plans take too long to
write, are seldom updated, and
almost never read by others
but documenting your
hypotheses is key.
Lean Canvas solves this
problem using a 1-page
business model that takes
under 20 minutes to create.
(Leanstack - Lean Canvas, 2019)
Business Canvas
Provides a quick business
planning visual that can be used
by an individual, small group, or
big corporation. This does not
replace the tradition business
plan that financial institution will
require.
Provides an approach to
brainstorming and the key
points needed to help you take
your solution from the problem
to defined revenue streams. A
living breathing plan that will be
adjusted as you learn more.
13 | Opening Soon, Inc. – 90 Days to Launch
Opening Soon, Inc. – 90 Days to Launch | 14
Funding Startup & Industry
When you have a great
business idea, funding is
nearly always the sticking
point. It’s a great
idea, after all, but how
will you raise the money
to get it started? This
funding can come from personal savings, line
of credit on your home, family and friends, a
small business loan, and/or alternative lending.
Get to know your local bank and let’s keep
our funds in the community. They see your cash
flow, know your spending habits, and you trust
them to keep your money.
Traditional Funding – small business loans
and people/groups/government investing in
your business for a return on their investment in
terms of product/services and with grants an
economic impact in underserved and represented
communities.
Alternative Funding can include funds for
equipment and cash advance on invoices and
potential eCommerce platform projected
sales.
Your Business Plan is the proposal that will be
used to apply for loans and funding. You will
also need to understand your industry and
forecasting. Not just
writing in your plan,
but knowing that
your product is
relevant and viable.
How does your product
or service measure
up to the top competitors? You will get
these inputs in the Test Phase of Design Thinking
along with industry research.
If you plan on obtaining a loan, please ensure
you understand the 5 C’s of Credit:
1. Character
2. Capacity
3. Capital
4. Collateral
5. Conditions (Investopedia, 2018)
You will need income or revenue to qualify for a
business loan.
Bootstrap Your Startup
Sell goods and services to meet the startup
budget. A loan can be obtained later in the life
of the business.
“Keep Your Day Job”
15 | Opening Soon, Inc. – 90 Days to Launch
Business Registration, Compliance,
Insurance & Legal
Tradition Business Startup
1. Have an Idea
2. Register Business
3. Write Business Plan - Generic
4. Obtain a Business Loan – Requires 5 C’s
(Investopedia, 2019)
Business Registration
This is a new startup and annual requirement. Please
review your State regulatory requirements closely.
Contact them for questions about business
registration.
Compliance
Certification or confirmation that the doer of an action
(such as the writer of an audit report), or the
manufacturer or supplier of a product, meets the
requirements of accepted practices, legislation,
prescribed rules and regulations, specified standards,
or the terms of a contract. See also conformance.
(Business Dictionary, 2019)
Liability Insurance
Policy that covers civil liabilities to third parties, arising
from bodily injury, property damage, or other wrongs
due to the action or inaction of the insured. It covers
only civil liabilities and not criminal liabilities.
(Business Dictionary, 2019)
Legal Services
Please search for grassroots, pro bono, and/or paid
legal support with experienced Attorney’s in your area.
They can help you with business startup, business plan
writing, and other services.
New Business Startup Approach
1. Have an Idea
2. Design Thinking - Test Idea and
Market – Validate
3. Write Business Plan
4. Register Business
5. Write Pitch Deck
6. Fund
• Traditional
• Alternative
7. Create Digital DNA & Footprint
BUSINESS REGISTRATION
You will need to review Industry, Federal,
State, & Local Rules & Regulations for
opening a business:
Research your business name to
ensure it is unique
Choose the Business Structure (Sole
proprietorship, corporation, LLC,
2019)
Register & Incorporate your business
with the State of WV – WV One Stop
Business Portal (WV One Stop, 2019)
Apply for Federal Employer Identification
Number (EIN) – (Internal Revenue
Service (IRS), 2019) the IRS
system will check/validate the business
name and address with the
information in the WVSOS system.
Make sure the business name,
address, etc. matches when entering.
Check with your County & City about
additional requirements.
Opening Soon, Inc. – 90 Days to Launch | 16
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https://cdn.ymaws.com/www.nationalwellness.org/resource/resmgr/pdfs/sixdimensionsfactsheet.pdf
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http://www.businessdictionary.com/definition/digital-marketing.html
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http://www.businessdictionary.com/definition/global-trade.html
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http://www.businessdictionary.com/definition/marketing.html
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https://ecommerce-platforms.com/glossary/ecommerce
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Investopedia. (2018, October 30). Investopedia - Terms - 5C's. Retrieved from Investopedia:
https://www.investopedia.com/terms/f/five-c-credit.asp
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https://www.investopedia.com/terms/f/five-c-credit.asp
Leanstack - Lean Canvas. (2019, February 3). Retrieved from Leanstack: https://leanstack.com/leancanvas
Ms. Melissa J. Hill. (2019, January 31). GO Journey, Inc. Retrieved from GO Journey, Inc.: http://gojourney.solutions
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Nick van Dam, P. (2007, 26 January). Chief Learning Office (CLO). A Holistic Design for Leadership Development
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17 | Opening Soon, Inc. – 90 Days to Launch
Work independently. Not alone.
1506 Kanawha Blvd. W.
Charleston, WV 25387
304.720.1401
wvsuedc.org