UofR marketing class Feb 14 2013

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UofR marketing class Feb 14 2013

  1. 1. UofRMarketing ClassFebruary 14, 2013How to BecomeA SuccessfulEntrepreneur or Intrapreneur
  2. 2. HJR background• Xerox Corp• PriceWaterhouse Coopers MCS• Founded 8 technology or service businesses:– consulting, restaurant, offsite recordsmanagement, fire safes (2), fire technology,computer sales & service, SaaS software solutions• Sold 5 businesses• SafeSite Records Management (NYSE: IRM)– Sold for $62M2/14/2013 Hugh J. Rundle (585) 472-6515 2
  3. 3. What you will learn today …• How to be an Entre- or Intrapreneur– Traits & Differences• Thinkers vs. Doers• Contracts• How to be profitable• Sales & Net Profit• Customer Buying & Sales factors• Supply Chain costs2/14/2013 Hugh J. Rundle (585) 472-6515 3
  4. 4. Are you a Small businessentrepreneur?• Who has owned or run a small business?2/14/2013 Hugh J. Rundle (585) 472-6515 4
  5. 5. Entre/Intrepreneural traits• Integrity• Vision• Not afraid to fail … learn by it … move on• Be a change agent• Recognize needs & problems• Develop affordable solutions• Independent thinker• Passionate about your beliefs• Perseverance• Communications skills, esp. listening• Admit you do not have all the answers• Don’t worry about what others think2/14/2013 5Hugh J. Rundle (585) 472-6515
  6. 6. Entre/Intrepreneural differences2/14/2013 Hugh J. Rundle (585) 472-6515 6Entrepreneur IntrapreneurRisk taken Huge MinimalSalary + benefits Minimal Corporate std.Investment Own $$$ Corporate $$$Reward Big potential MinimalAbility to executesolutionGreen light Constrained bypolitics & otherpriorities
  7. 7. Problem solving approaches:Thinker vs. DoerGeneralization:– Thinker• 95% of the solution upfront• 2 years later - near 100% best solution– Doer• 60% of the solution upfront• 2 years later - owns the market• DON’T OVERTHINK THE SOLUTION• You won’t get it all right the first time• Consumers don’t care about 100%• Get it to market, listen to customers, then make itbetter2/14/2013 7Hugh J. Rundle (585) 472-6515
  8. 8. Business startup contracts• Get Agreements in writing early on– Who does what & other commitments• Definition of Friendship– Changes as sales increase• Prenup agreements with business partners• “DON’T TRUST ME”– “In God We Trust,” all others have contracts– Contracts are for successors2/14/2013 8Hugh J. Rundle (585) 472-6515
  9. 9. The key to profitability• REDUCE THE CYCLE TIME– Manufacturing– Customer service– Restaurants– Every product & service– Investor ROI• The shorter the cycle, the more $ you make• Create annuity opportunities: Paychex2/14/2013 9Hugh J. Rundle (585) 472-6515
  10. 10. What’s more importantSales or Net Profit2/14/2013 Hugh J. Rundle (585) 472-6515 10
  11. 11. What’s more importantSales or Net Profit• DEPENDS ON THE STAGE–Start up Sales–Early stage Sales–Growth Sales & profit–Established Sales & profit2/14/2013 Hugh J. Rundle (585) 472-6515 11
  12. 12. Customer Buying & Sales Factors• What’s the product strategy• Market research: Who will buy it + how many• Why• How much will they pay• Marketing plan• Sales/distribution channels– What industry(s) channels– Complementary& bundled sales2/14/2013 12Hugh J. Rundle (585) 472-6515
  13. 13. Product costsWhich is the best supply chain option?Product cost (ex-works)• China $2.25• Los Angeles $2.65• Rochester $3.182/14/2013 13Hugh J. Rundle (585) 472-6515
  14. 14. Possible landed costs• LANDED = DELIVERED TO MY DOCK• Cost• Insurance• Freight to US port• Freight to distribution center• Import duties & taxes• Bank fees• Brokerage fees• Other fees• Import/export documentation must all be in order,else delay of payments2/14/2013 14Hugh J. Rundle (585) 472-6515
  15. 15. Which is the bestsupply chain option?• Whichever option:– Minimizes most risk– Minimizes time to market– Optimizes cash flowProduct cost Landed cost• China $2.00 $3.05• Los Angeles $2.65 $3.07• Rochester $3.08 $3.182/14/2013 15Hugh J. Rundle (585) 472-6515
  16. 16. Resources: Innovation Institute &SCOREhttp://www.wini2.com/• Evaluates ideas for US$250• Formerly Wal-Mart Innovation Network• (573) 999-4518SCOREhttp://www.scorerochester.org/help/steps.php2/14/2013 16Hugh J. Rundle (585) 472-6515
  17. 17. QuestionsHugh J Rundlehjrundle@topdownconservation.com2/14/2013 Hugh J. Rundle (585) 472-6515 17

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