Small businesses require clear focus, strong management, marketing, and understanding of customer demand. They must understand importance of problem identification, solution development, and target markets. Success requires advertising, financial stability, and utilizing technology and location trends.
1. BUSINESS
By: Kathleen Schmidt
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2. Thesis:
✤ Small businesses are a vital part of our
economy. Unfortunately, many
businesses fail to make it off the
ground due to a lack of knowledge on
business management. They do not
always understand the importance of a
clear focus, a strong management
team, marketing options, an
understanding of consumer demand,
http://www.mediabistro.com/agencyspy/date/2009/06 t
3. Personal Relevance
http://www.noisettenyc.com/wp-content/uploads/2010/12/FAO-Schwarz.jpg
4. What does business mean to you?
http://brandstrategy.wordpress.com/2008/09/25/what-are-we-going-to-do-tomorrow-google/
5. Creation of New Markets
ernewmedia.org/social_networking/business-networking-exchange/advisor-garage-community-review-online-business-networking-20070625.htm
6. Take the Plunge!
✤ Fact: It takes money to make
money.
http://www.mancertified.com/business/different-ways-to-ensure-your-online-business-succeeds-/
7. Teamwor
http://www.mediabistro.com/agencyspy/date/2009/06 t
8. Have a Great Idea?
✤ A single idea can lead to great endeavors. In modern society, a
meager idea can be transformed into a successful business
with tangible ends if applied correctly.
http://www.psfk.com/2009/05/nokia-technopolis-innovation-mill-making-inspiration-free.html
10. Let Your Ideas Grow
•
Write a Plan.
http://www.freeenterprise.com/tag/business-owners/
11. Problem
Statement:
✤ What is the problem?
✤ How is there a way to solve
this problem?
✤ Who has the problem?
http://www.leanprocesssolutions.com/images/gears%20working%20together.jpg
12. BUSINESS DESCRIPTION
✤
DEFINE YOURSELF
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17. Keeping on Track
http://www.flickr.com/photos/s0ulsurfing/4975773349/
18. Types of Businesses
✤ ONLINE:commonly refereed to as e-
business(electronic business)is a business
based online where consumers can order
products or services
✤ BRICK AND MORTAR:pertaining to conventional
stores, businesses, etc., having physical
buildings and facilities, as opposed to
http://www.pmc-realite.com/innovation.html
20. Technology
http://www.mediabistro.com/agencyspy/date/2009/06 t
21. PC Mac
Corporation:
a company or group of people authorized to act as a single
entity (legally a person) and recognized as such in law
http://2.bp.blogspot.com/-7LvNHcxBJMM/Tc9HTr0aksI/AAAAAAAAA-4/SObk0hRtM-g/s1600/mac-vs-pc.jpg
22. Private Business:
the act of making
one’s living by engaging in
commerce privately without
corporations
Angelo’s
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32. Business
model
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35. Kids!
Tired of putting
countless hours of
effort trying to make
a fort that never
stays up?
Parents, tired of losing sleep and sheets
when your kids try making forts?
37. VIDEO
http://www.mediabistro.com/agencyspy/date/2009/06 t
38. Fort In A Box (FIB)
✤ Target market- 6+
✤ Adult assistance is
required
✤ This structure is not
recommend for:
jumping, climbing, or
hanging
http://www.flickr.com/photos/mrtambourine1/1385119369/
39. Out Look on FIB
✤ Production costs
✤ How much is it?
✤ Marketability
http://www.mediabistro.com/agencyspy/date/2009/06 t
40. Raw
✤ Piping
✤ Glue
✤ Paint
✤ Fabric
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41. Class
Activity
Design your own Fort!
http://www.advice-with-dr-julia.com/images/im-rubber-youre-glue-comeback-21232546.jpg http://img.ehowcdn.co.uk/article-page-main/ehow-uk/images/a07/tk/t2/make-holder-out-popsicle-sticks-800x800.jpg
42. Design and Process
http://tammyamorton.com/wp-content/uploads/2009/12/attraction_marketing_blueprint.jpg
43. Work Cited
M c K e e v e r, M i k e . H o w t o Wr i t e a B u s i n e s s P l a n . 9 t h e d i t i o n . v o l u m e 1 . S a n F r a n c i s c o : N o l o , 2 0 0 7 . 0 - 2 7 4 . P r i n t .
M o r a n , G w e n . " P r o m o t i n g f r o m P e a n u t s . " E n t r e p r e n e u r M e d i a , I n c . ( 2 0 1 1 ) : n . p a g . We b . 6 A p r 2 0 1 1 . < h t t p : / / w w w . e n t r e p r e n e u r . c o m / a r t i c l e / 2 1 8 1 8 3 > .
✤ Rich, Jason . The Unofficial Guide to Starting a Business Online. 1. Foster City: IDG books worldwide Inc., 2000. 0-400. Print.
" M a r k e t i n g B a s i c s . " ( 2 0 1 1 ) : 2 . We b . < h t t p : / / w w w . a l l b u s i n e s s . c o m / m a r k e t i n g - a d v e r t i s i n g / 6 6 4 - 1 . h t m l > .
Knowledge Management Strategies: Toward a Taxonomy Value Creation in E-Business
Michael Earl Raphael Amit and Christoph Zott
Journal of Management Information Systems Strategic Management Journal
Vol. 18, No. 1, Knowledge Management (Summer, 2001), pp. 215-233 Vol. 22, No. 6/7, Special Issue: Strategic Entrepreneurship: Entrepreneurial Strategies for Wealth Creation
(article consists of 19 pages) (Jun. - Jul., 2001), pp. 493-520
Published by: M.E. Sharpe, Inc. Published by: John Wiley & Sons
Stable URL: http://www.jstor.org/stable/40398522 Stable URL: http://www.jstor.org/stable/3094318
" To p t h i n g s t o k n o w . " ( 2 0 0 1 ) : 1 . We b . 2 3 M a y 2 0 1 1 . < h t t p : / / m o n e y . c n n . c o m / m a g a z i n e s / m o n e y m a g / m o n e y 1 0 1 / l e s s o n 2 / i n d e x . h t m > .
Professional Influence: The Effects of Investment Banks on Clients' Acquisition Financing and Performance
Mathew L. A. Hayward
Strategic Management Journal
Plush Endeavors: An Analysis of the Modern American Soft-Toy Industry Vol. 24, No. 9 (Sep., 2003), pp. 783-801
Margaret Walsh (article consists of 19 pages)
The Business History Review Published by: John Wiley & Sons
Vol. 66, No. 4 (Winter, 1992), pp. 637-670 Stable URL: http://www.jstor.org/stable/20060578
(article consists of 37 pages)
Published by: The President and Fellows of Harvard College Politics in the Supermarket: Political Consumerism as a Form of Political Participation
Stable URL: http://www.jstor.org/stable/3116843 Dietlind Stolle, Marc Hooghe and Michele Micheletti
International Political Science Review / Revue internationale de science politique
Vol. 26, No. 3 (Jul., 2005), pp. 245-269
(article consists of 25 pages)
Published by: Sage Publications, Ltd.
Stable URL: http://www.jstor.org/stable/30039032
http://www.mediabistro.com/agencyspy/date/2009/06 t
44. Conclusion
✤ To pursue the goals of a small business
one must incorporate the concepts of
marketing, customer recognition,
location, and demographics. In order
for its success, advertisement should
be stressed, as well as finical stability
and media.
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Opening Statement: Society views business as an opportunity to further innovation and technology while not only helping the community but also the economic stand point. Marketing is key when it comes to business because of the impact the media has on consumers. Making your idea a success can seem impossible but when using the tools you have at hand in the correct manner by using the internet, a business plan, and media to support your idea can be a success. \n\n
In the future I hope to open my own business. I plan on pursuing this in college and then I will open my own toy store. A small business is an interesting investment and despite all of the work that goes into this the outcome should be quite rewarding. \n\n
We are becoming a more technologically based culture, this not only effects our society but the business world as well. With so many options of different online as well as brick and mortar businesses our culture is more open to different ideas. No longer is it a physical object that businesses sell. With the advancements in technology businesses can sell websites, games, and music. \n\n\n
The only successful business is a strong business. If a business doesn&#x2019;t have at least a website or a way to purchase things off line they are almost invisible. Online business, though a risky investment, allows companies to grow into enterprises but without taking this risk no profit can be made. \nresearching the competition in order to know where their faults lie \nWe have all heard the phrase &#x201C;In order to make money you must spend money.&#x201D; which is the truth \nTaking a chance can lead to a success, but as always can have a negative repercussions and end in failure. \nBecause of the demand of online shopping, software can be a key aspect when trying to reach a larger network of customers, and if the website that you create for your business isn&#x2019;t simple yet flashy enough to appeal to your demographic, you won&#x2019;t be successful, in comparison to let&#x2019;s say like Amazon.com. \n
- No matter what sort of business you want to open whether it be online, in stores, or both, you need money to jump start your project \n- Investors are significant \n- Your plan\nUse technology to your benefit, research your competition see their downfalls and use it to your advantage. \nSay the competition has complaints about waiting for orders to come in, and the customer always get their packages late.\nBe sure to always notify your consumer that you will do everything to get the product to them as quickly as possible \nTry to set up a notification process where consumers can track their purchase online. \n
The pros and the cons\nPro: a larger variety of people&#x2019;s ideas coming from different backgrounds can appeal to a greater audience. \nLess work per person, dividing up the load and so everyone gets a chance to add into the project\nMore ideas or where to get investors from and the more money coming in the more likely your business is to succeed in today&#x2019;s market. \nNot only can opening a business help you but it benefits the community. Providing new jobs which would impact positively on the economy. cons: not all ideas will be good ideas.\nmore people means more paychecks to finance\nDepending on the people who are working some may depend on others to do their jobs for them which will cause tension between workers and create a negative environment. \nWhen you do not think you can rely on your workers then some part of the marketing or creation process could suffer. \n \n
When we think of the american dream we closely relate it to business and pursuing happiness. This is an important aspect of the business world. Having the ability to use your resources to your benefit is really vital. Only in america can one drop out of school with the confidence of a single idea that may or may not bring them success. for example, Bill gates, or Mark Zuckerberg; individuals who chose to follow their gut feelings and became two of the wealthiest people in the world. however, the importance of their efforts is not limited to the money in their pockets, but the projected message to pursue ones dreams.\n\n
- Without investors all money to start up your business is either out of pocket or a loan from the bank. \n- They are the corner stone of your success\n- Investors choose to award funds to particular business ventures according to the anticipated profits of said business within a time period. If these profits do not reflect the original plan of the investors, then the investors are likely to withdraw funding which most likely results in financial debt as well as a wounded reputation. this reputation is crucial for further marketing of the business idea and building of a network for the future. due to lack of funding from investors, a reliance on the bank is necessary, but the bank would be resistant to lend you money because of your lack of punctuality.\n
When writing a plan one needs to hit some key points:\n-Problem statement\n-Business description\n-The Pitch \n-Management\n-Preparation\n-On track\n\n
These questions are vital to the problem statement itself without them the statement is practically irrelevant. A problem statement is a concise description of the issues that need to be addressed by a problem solving team and should be presented to them before they try to solve the problem. When bringing together a team to achieve a particular purpose provide them with a problem statement.A team is always helpful when trying to not only come up with the problem statement but how to solve the problem itself. \n\nbasically, the problem statement involves a group of people who investigate their competitions products and finds faults within those products. Later the team uses the advantages of this knowledge to better their own product and discredit the competition. \n\n
A business description helps you to find investors to fund your idea. Even though you think you can do it on your own it may be more difficult than you realize to find the funds you need. Having a good layout is helpful when trying to reel people in. \n
How to tell how much your product will make! By looking back and realizing the historical accounting and how similar businesses or products have sold in the past and relating to the current market and economy. You can then predict how well your idea will sell. For example about twenty years ago a stationary store would have done decently, however now because of advances in technology and lack of demand for stationary products, such as handwritten letters, a stationary store would not necessarily survive very long in today&#x2019;s market. \n
To attract your consumers you have to be able to satisfy their needs and appeal to their interests. In order to do this: make things affordable. Not cheap but make it seem that the price they are paying, no matter the amount, is worth the service or product they are getting. an unreasonable price tag labels the product as valuable and luxurious in the consumers mind. In this economy today it is important for the consumer to know that the things they are investing in are not just good for short term use but long term as well.\n
Management is important because without an established focus and an inflated paycheck there would be no motivation among workers to climb that economic ladder. A hierarchy in the workplace sets standards and competition among employees which often motivates progress. In addition, when a new employee is introduced the structure and challenge presented by the senior coworkers will secure a comfortable learning environment where one can pursue and achieve goals efficiently and with ease. \n\nMost importantly, a clear and well defined leader is necessary for any business task. without leadership in the workplace, the goals become blurred. \n\n
selling your product and preparation for sales is an essential first step in the business world. knowing the consumers needs and details regarding the demographics of the field in which your appealing to is extremely helpful. You need tools, resources, a plan set up, and most importantly advertisement. Lady Gaga is the best example of how successful and targeted advertisement strategies can launch a individual into fame. Preparation is important not only to you but to the investors you are trying to persuade. \n
Although it feels like sometimes the obstacles are to much to hurdle. The harder you work at it the closer you come to your goal. Keeping on track can lead your business in the best direction possible. If you can keep the focus on the primary goal and get the point across to your investors you are more likely to earn more money. Money being put into the project can result in a higher chance of success and revenue. \n
When society changes so does its tastes, trends, and technology. There has been a recent surge in online businesses which has sparked the interest in media, news and communities. E-business is a business that consists mainly of a home grown inspiration with not as much storage room as one that has offices and a receptionist. However, E-businesses have several benefits including reduced financing on renting space and storage. But the shipping and handling of products counteract a portion of the savings. \n\n\n\n
Appeal to all types of consumers. Lately our society has been trying harder and harder to go green and help the environment. Recycle and reusing things is getting bigger and bigger. For example, using cloth bags at the grocery store rather than plastic and paper bags. When dealing with fast moving trends chances are they will be out as fast as they came in. You want to make sure that your trend is going to stay around for more than a decade. You want your business to survive more than just ten years; success is measured by the years of positive outcome and the revenue your business makes. \n
As technology advances you must know the simple tricks to put you ahead of your competition. Get on the internet, without a website your organization is virtually invisible. the internet is such an important tool for businesses. staying current is also an important way to be noticed and successful. If your businesses is brick and mortar, everything in the store itself should be up to date. An example being a cash register that is electronic, and having a computer at your disposal.\n
A Corporation is a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law. Examples of corporations would be Apple or Microsoft. It Usually has a better management system that enables their company to flourish and become much more prosperous than privately owned businesses. More investors could also have led the way to a better financed company. \n
An example of a privately owned business would be Angelo&#x2019;s or Petals Florist. The importance of private businesses is because it gives the chance of having a more relevant want for the community. A private business actually sees the problems that the community has and is able to assist in fixing them because they are directly influenced by the community. While some corporations are based out of for example New Port, Rhode Island and have no personal connection with the King of Prussia area resulting in lack of interest to spend more money on things that seem less demanding. \n
Depending on the amount of workers a person has in his or her business, the government taxes less. If the company is less than 500 people certain taxes can&#x2019;t be avoided. When a business becomes &#x201C;incorporated&#x201D; the laws that they must follow become more strict but the taxes are lowered. Not initially because in the beginning you must spend more money to call your business &#x201C;incorporated&#x201D; but eventually the money you spend doing this will even out.\n
In order for your product to sell you must be able to solve a perceived problem. If it has no purpose then no one would have reason to buy it. When beginning a new business or marketing a product one must realize the faults of the competition. Researching your competitors products and why their customers are not satisfied can be a huge benefit to you and your ability to gain the upper hand. When looking for the faults in their products it is important to keep track of what you find, this way you can better your product and create your own network that beats out its competition. What does your product have that the others fail to offer? And is what you are offering worth the risk of changing? \n
Why location is so important is because if there were a row of four shops, one was a grocery store, next to that was a drugstore and then a carpeting company and a restaurant it is less likely that the carpeting company will do well because when someone goes to shop for their groceries chances are they are not looking to bring home a new rug or carpet. Rather, stop for a bite to eat or purchase something small from the drugstore. Knowing this you can determine if your business will be a success in your area or not. Making your business relevant to its surroundings is critical.\n\n\nOne must have the right audience to market the product. When a product is sold to the wrong market it is more likely to have the business fail. Is it a good location for you to begin a business in a small shopping center that has a main theme of food while your business is a stationary store? Is a stationary store an intelligent choice to start in our society at all today? \n
A service is not a tangible thing and is often identified with occupations such as doctors, plumbers, and carpenters. in these situations you are paying for someone&#x2019;s time and expertise rather than a product. the product for example pertains to the medicine the doctor prescribes or the sink you bought to be installed by the plumber. Service and product go hand in hand. Although service does not directly depend on product their connection is very traceable. \n
A service is not a tangible thing and is often identified with occupations such as doctors, plumbers, and carpenters. in these situations you are paying for someone&#x2019;s time and expertise rather than a product. the product for example pertains to the medicine the doctor prescribes or the sink you bought to be installed by the plumber. Service and product go hand in hand. Although service does not directly depend on product their connection is very traceable. \n
A service is not a tangible thing and is often identified with occupations such as doctors, plumbers, and carpenters. in these situations you are paying for someone&#x2019;s time and expertise rather than a product. the product for example pertains to the medicine the doctor prescribes or the sink you bought to be installed by the plumber. Service and product go hand in hand. Although service does not directly depend on product their connection is very traceable. \n
Make sure you are taking advantage of your money. If you can get your money to work for you, you can have extra expenditures. Make sure to double check where all of your money is going. If you choose to have a financial advisor be sure to be there every step of the way. This way you can learn new tips on how to use your money wisely, and let your money work for you. \n
You can visit trade shows without even buying a booth, all you need is to be able to hand out flyers, or business cards to increase your network of people. Start a contest; it will help notify people of your product and make a larger amount of the people in your community aware of what you want to accomplished. Be specific when targeting a consumer or a network of people. Being online is important many people use the internet to purchase goods. Get your customers to refer you to their friends, build your network bigger. Referrals or repeat business could always be rewarded by giving a small gift or discount. \nNotify your consumers when you have a new product on the market, blog about it. \nUse your business skills to help you. If you want more marketing materials see if you can trade your product or services to get them. \n
Having an eye appealing website is very important. Even if your website has all of the information and more it will not be used unless it is efficient in what the consumer needs. When someone goes onto the internet they want it to be easily accessed and straight to the point. Take others ideas into account when designing your website so that you can satisfy them. Introduce yourself to basic computer knowledge to make your website pop. The more views you can get on your website the better the potential of your business has to be successful. In our day and age not being online makes your ideas practically invisible to the world, more than half of our society is now computer savvy. \n
Companies have followers, people that have always taken an interest in a certain product that is marketed or just an interest in the business itself. If there is appeal then it is more likely to have more people involved. More support can make a healthier and stronger business. Customers want you to succeed, and if you listen to their insights they may even help in the endeavor itself. Finance, is important because you have to know what you are getting into money wise before you spend. \n
Business models are a misunderstood aspect of the web. There is a great amount of talk about how the web influences traditional business models. However little evidence of what a business model means. Basically a business model is the method of doing business. Which a company can sustain itself, or make a profit. The business model pans out how a company makes money by specifying where it is positioned in the value chain. A company produces a good or service and sells it to customers. If all goes right the revenues from sales exceed the cost of operation and the company makes a profit. Organization is significant when it comes to a business model. Without organization it is possible that key facts, figures and data will be left out which is vital to the progress of your business and must be included in the model. Without it investors may not want to waste their time and money on your project. \n
\n
I tried to make my own product. The following is a few slides dedicated to that. \n
I tried to make my own product. The following is a few slides dedicated to that. \n
I tried to make my own product. The following is a few slides dedicated to that. \n
I tried to make my own product. The following is a few slides dedicated to that. \n
\n
Show video of FIB\n
FIB is targeted for a market of six and older, children that are younger than this must be under adult supervision at all times. Adult assistance is required when building this product. This product is not recommended for jumping, climbing or hanging. When playing in FIB one must always make sure that the poles fit in tightly in order to prevent them from falling down. The chance of injury is heightened when the pieces are not fit together tightly. \n
All together it cost me more than fifty dollars plus labor cost to create. In order to sell this product and earn a decent profit off of it I would need to sell the product for around at least seventy dollars. This product is not exactly marketable or reasonable unless there would be a way to lessen the cost of the raw materials and make the production itself quicker. When purchasing items in bulk you can usually get more money off and so it would eventually cost less. However selling this product for seventy dollars is very unlikely to reciprocate a profit. And so my creation is not marketable and would be a failure. \n
Piping was a type of PVC and is 3/4 inch around \nThe glue is a special PVC glue that actually effects the chemicals in the plastic and makes it one piece.\nI used three different color spray paints for each of the different length poles. \nThe fabric was chosen because of its solid color. \nEverything that was purchased came from Home Depot. Except the fabric. \n
Using Popsicles sticks and glue create your own fort with your own original ideas. You may use as many popsicles as you wish and as much glue that is needed. Divide yourself into groups of 5. \n
The pieces were measured out using a twin bed as the model. My initial idea was to use the bed as apart of the design itself by using it&#x2019;s weight to keep the structure in place. There are two poles on the bottom of the structure that can go directly below the mattress. Then six four foot poles are placed perpendicular to the bottom. These are beams that help support the top. I took t-joints and made a joint to have four entrances. This made the poles easier to put into place. I then had my friends and I spray paint the entire structure in different colors to help when building it. Each color is a different length pole. Finally I made a cover for the Fort itself to give it an original fort style. \n
