Entrepreneurship: How To Start & Run A Lean Business

Serial entrepreneur shows you 50+ ways to cut costs during startup, save money running your business and profit more!
3.3 (3 ratings)
Instead of using a simple lifetime average, Udemy calculates a
course's star rating by considering a number of different factors
such as the number of ratings, the age of ratings, and the
likelihood of fraudulent ratings.
1,718 students enrolled
$19
$45
58% off
Take This Course
  • Lectures 45
  • Length 1.5 hours
  • Skill Level All Levels
  • Languages English
  • Includes Lifetime access
    30 day money back guarantee!
    Available on iOS and Android
    Certificate of Completion
Wishlisted Wishlist

How taking a course works

Discover

Find online courses made by experts from around the world.

Learn

Take your courses with you and learn anywhere, anytime.

Master

Learn and practice real-world skills and achieve your goals.

About This Course

Published 11/2015 English

Course Description

JOIN OVER 1700 SUCCESSFUL STUDENTS!!

***** 5 STAR REVIEW: "Awesome. The content is comprehensive and informative. Tom met my expectations, and I'm satisfied with this course." - A. Haikal Ruslan

LIMITED TIME SPECIAL RATE!! COURSE UP-TO-DATE AS OF SEPTEMBER 2016!

Learning objectives: After taking this course:

  • You will know over 50 ways to save money in your business or startup
  • You will be able to set up a budget for your company using the included Excel spreadsheet
  • You will learn specific strategies for negotiating business and personal expenses to save $1000’s
  • You will know the software and accounting programs that can help you save money in business
  • You will know how to save money with rent hacking or house hacking
  • You will learn how to think like a millionaire and have the attitude to save money
  • You will learn how to save on credit card and Paypal merchant fees
  • You will learn why renting and leasing can save you money over buying
  • You will learn why trade and barter can save you money and make you more profit
  • You will learn how to get your vendors to finance your product purchases
  • You will learn how to save on business travel, meals and more with reward credit cards
  • And so much more!

Have the millionaire mindset and an attitude of saving money!

Yes, you should think like a millionaire entrepreneur! Not the business people and stars you see on the news, but the real wealthy entrepreneurs next door! They have one thing in common! They love to save money!

Saving money is just like making money. Sometimes it’s easier to cut an expense than it is to increase your income! And since most of you are sole proprietors or home based business owners, personal expenses are real important to your overall financial picture as well. So for the purpose of this course, I’ll also share my top tips on saving money personally because that translates into more cash in your pocket for business or pleasure!

My preference is to make more money than saving money. But why not practice both? This is just the way I think, how can I save money on something? Now that doesn’t mean I always look for cheap stuff. Many times paying more for quality is the cheapest way to go! I was raised to be very frugal! So now I’m programmed that way. Plus I like to barter and negotiate, which are two skills you should master as well!

I look at financing for your company as anything that brings you cash or saves you cash, it’s all a part of cash flowing your business. So I’m going to cover many area’s you probably haven’t thought of.

This course is for home based business owners and freelancers too! Even when I had 2 commercial offices for my entertainment company, I still worked most of the time out of a home office! Why am I qualified to teach this course? I've owned and operated 6 small businesses selling millions of dollars in products and services. Plus my bachelor's degree is in Accounting from the University of Minnesota.

Join the course now and let’s get started!


What are the requirements?

  • This course is suited for both beginning and advanced business students. No special items are required!

What am I going to get from this course?

  • You will learn how to think like a millionaire and have the attitude to save money
  • You will know over 50 ways to save money in your business or startup
  • You will be know how to save money with rent hacking or house hacking
  • You will learn specific strategies for negotiating business and personal expenses to save $1000’s
  • You will be able to set up a budget for your company using the included Excel spreadsheet
  • You will learn why trade and barter can save you money and make you more profit
  • You will learn how to save on business travel, meals and more with reward credit cards
  • You will learn how to get your vendors to finance your product purchases
  • You will know the software and accounting programs that can help you save money in business
  • You will learn how to save on credit card and Paypal merchant fees
  • You will learn why renting and leasing can save you money over buying
  • And so much more!

What is the target audience?

  • Any entrepreneur, business owner or manager that wants to learn how to cut costs and make more money in their business!
  • Any potential entrepreneur in the initial planning stages of starting a company!
  • Anyone looking for strategies and techniques for saving money in their personal life!

What you get with this course?

Not for you? No problem.
30 day money back guarantee.

Forever yours.
Lifetime access.

Learn on the go.
Desktop, iOS and Android.

Get rewarded.
Certificate of completion.

Curriculum

01:01

Introduction to your instructor, Tom Kenemore in New York City!

02:01

Are you a millionaire? Well even if you are not, you should think like one! Millionaires think and act differently than other people. Learn how to think like one!

Article

Welcome to the course! So glad you are joining us! I have a special bonus for active students! Check it out!

Section 1: Entrepreneurs - Save Money During The Startup Phase Of Your Business or Venture
00:33

Setting up your company or new business in the startup phase to save money! What type of business form to take? What type of checking account? How to process credit cards and more!

01:20

Rent for your business or retail space can be one of your largest expenses – use your apartment or home if appropriate. Check your local zoning laws to make sure you are compliant. But sometimes you have to bend the rules. :)

02:24

House hacking or co-working spaces! Rent or buy a bigger house or office space and then sub lease or rent out the extra room or space to cover your entire payment. If you are renting, make sure it’s not against your lease to sub lease space to others. Even if it is, a landlord may be willing to negotiate on this point.

00:54

What form of company should you start? Sole proprietorship, Limited Liability Company (LLC), Partnership, or Corporation?

01:05

Saving money in business and life starts with the right attitude! Put every expense on trial for it's life!

02:58

Set up an initial startup budget for your business. Yes, it can be estimated! See the resources for sample budget templates for Microsoft Excel and Google docs for business and personal use!

05:41

I guide you through setting up your business budget using this handy and included Excel spreadsheet. You'll find it as a download resource in this and the previous lecture.

01:19

Keep track of your expenses with the right accounting software! I use Quickbooks online!

01:33

Free and low cost software like Google docs and Microsoft Office 365!

01:56

Free and low-cost business and personal checking accounts.

02:38

Use other credit card merchant services other than Paypal to save on fees! For example, the Intuit Payment Network on charges 50 cents per transaction!

02:44

Keep this in mind when starting your company. Invest as little money as possible to start your business or test your business idea. Risk little, loose little. Many first attempts at starting a business fail, but the lessons learned are huge. Prove your product or service on a small scale with a small investment. Then as your business begins to prove itself as a profitable venture or that is has a lot of opportunity, ask for more money. It will be easier to get. But don’t hear underfinance your business from me. One of the big reasons for business failure is running out of cash. So figure out what you really need and then add buffer or small cushion amount just in case. Plan for backup funding. A line of credit, a credit card with a zero balance, etc. For example, I started my DJ company with about $1200 and half of that was on a credit card! I built that company up to $450,000 in sales per year!

01:59

Did you know that you can comparison shop and negotiate with your bank, credit card and other loans? Well now you do! You can negotiate terms like the interest rate, payment size, length of loan payments, and more. All of these things can greatly affect the overall cost of financing your startup. Negotiating will be easier if you have great credit and collateral or if you can get multiple banks or lenders to offer financing to you.

03:09

Lease or rent – one of my favorite ways to finance my business needs! For example, When my bank didn’t want to give me any more money for an equipment loan, I leased it! I leased about $50,000 worth of DJ & office equipment and it was easier to get than a loan!

1 page

Here are the resources for this section!

01:12

Just wrapping up this section on saving money during the startup of your business!

Section 2: How To Use Barter & Negotiation To Save Money In Business & Personally
00:21

Another area of business I enjoy is negotiating and bartering. You can save a ton of money on products or services for yourself or your business by using a few simple negotiation, barter or trade strategies. Negotiation & barter doesn’t just work to save money, you can also make more money in your business as well!

02:58

Let's get started with basic barter and negotiation strategies!

02:18

A more formal approach to bartering, barter or trade exchanges like ITEX!

02:54

Start with the flinch. “Wow, that’s expensive!” Followed with “Can you do any better than that”. Some of you are thinking, that makes me look cheap or maybe you are uncomfortable doing it. But hey, this is business. When I add up the savings from all of my negotiations for the year, it easily adds up to $1000’s. Wouldn’t you be willing to be a little uncomfortable to save that much.

1 page

Resources for this section!

01:25

One of my favorite sections! I hope you can tell I am passionate about barter and negotiation! Now go out and apply these strategies!

Section 3: How To Save Money In Your Business Operations, Hired Help, Marketing, Sales, Etc
00:24

In this section I go over some of the biggest expenses in your business! I cover ways to save on marketing, sales, hired help, purchases of product, and more!

03:34

Depending on the type of business you are in, getting employees might be optional! Can you do the work yourself or hire independent contractors or freelancers to get the work you need done? Employees add at least 20% more than their wages in expenses to cover employment taxes, worker’s compensation insurance, etc.

02:15

Pay help or employees by the job, piece meal, or commission, not hourly or salary. Pay for results and pay bonuses for doing exceptional work and/or making or breaking sales goals!

02:14

Save time and money by focusing on the social media and marketing channels that your customers are actually on! Plus I cover some top places to market your business!

02:53

The best, most cost effective way I've found to make sales in person! Plus networking groups!

01:20

Look for and ask for free shipping, volume discounts, etc. to save on the products that you use or for resale!

01:43

Why not use your vendor to finance your product purchases? How about up to 3 months to pay for your purchase? Net30, net60 and even net90!

1 page

Resources for this section!

00:51

So how are you going to implement these strategies? Share your experiences in the discussion forum!

Section 4: Even More Ways To Save Money & Cut Expenses In Your Business & Personal Life
00:26

In this section I cover a number of ways to save money both in your business and personally!

01:10

Saving money personally helps you in business as well! What you don't spend personally you could put back into your business to grow it even more!

01:36

Cutting out alcohol, tobacco, etc to save money, plus saving money with your car or vehicle!

01:50

Save on your business phone service and fax service with VOIP phone and fax service like www.nextiva.com! Plus sound like a larger company by creating different departments and extensions for marketing, sales, accounting, etc.

01:43

Can you bundle some of your needed business or personal services together? Services like your business phone, internet, cable or satellite TV, etc. On the other hand, do you have services that you don't use in your current bundle that you could remove to save the cost on that?

02:32

Use your credit or debit cards with bonus points or airline travel miles to save money! You can use the bonuses to pay for business travel, meals, etc.

01:11

Get free, 2 day shipping on your business purchases on Amazon, a prime account is not needed!

02:18

Getting the training you need to run your business! Google it, Youtube, blogs, articles and both free and paid courses on Udemy! Pay for quality training that save you time!

1 page

Resources for this section!

01:10

Congrats and conclusion of the course! Please write a review...thank you for being one of my students! :)

4 pages

Coupon codes to join my other business, entrepreneurship and marketing courses!

Students Who Viewed This Course Also Viewed

  • Loading
  • Loading
  • Loading

Instructor Biography

Tom Kenemore, Best-Selling Author, Serial Entrepreneur, Speaker Consultant

>> Click on the Earth icon on the left to sign up for my free entrepreneurship & marketing tips! <<

ENTREPRENEURSHIP, MARKETING & SMALL BUSINESS COURSES!

- 4 high rated courses!

- Over 8500 successful students!

Tom is a father, traveler, occasional 5K runner, best-selling author, serial entrepreneur, DJ, consultant, speaker, and Udemy instructor.

Tom has always been an entrepreneur. In grade school, he would sell pencils to his fellow classmates. He also bought, sold and bartered items at the local park-n-swap with his Grandmother. This was before the internet and Ebay. At 15, Tom took over his first small business, a bee swarm removal service in Arizona from one of his uncles.

In college, he took $600 in “leftover" student financial aid money and a Sear's credit card and started a mobile DJ company. After graduating from the University of Minnesota with a business degree, Tom went to look for a “real” job. After more than a dozen job rejections, he took that little DJ company and turned it into one of the largest and most awarded DJ entertainment services in the Upper Midwest. Under Tom’s leadership, that company received a dozen customer service awards including being named one of the top wedding services companies nationally.

So far Tom has started and owned six small businesses and sold millions of dollars in products and services. That's over 25 years of small business experience, and he’s never had more than a summer job for regular employment! 

Today Tom’s passion is speaking and education in entrepreneurship, small business and marketing.  He also enjoys speaking to groups of high school and college students about taking the entrepreneurial path rather than traditional employment.

Minnesota is home for Tom, but he spends much of his time traveling in the “Beast”, a 40’ RV. 

Ready to start learning?
Take This Course