Business Owner at middle school career day

PresidentInvario Network Engineersdave@invario.net

 Elevator Speech = “We are the IT Department for Companies that don’t have one yet.” Product (what we sell) = Customer confidence in…  knowing they have bought the right systems  knowing our engineers responsive, reliable and able to resolve any problem  knowing they are getting a good value Xerox/NPR/UPS

 A person who organizes and operates a business Risk Taker Independent Loves what they do Make money as a measure of success

 Money = Unit of Value Business = Voluntary trade of Customer money for your Business’s goods or services

 They invent/ innovate They spot the gap (need) in the market They have the new idea They improve on existing entities They often do it more than once They often fail->Adapt->Adjust->Try again

 Marketing  A coordinated effort generate leads (Interest in your product)  Bring the outside perception to match the inside reality of the company Sales  A structured process to bring a lead to a sale Operations  What the business does to create the product Human Resources  Everything to do with Employees Accounting  The score card

 Price – Cost = Profit How much do I charge from my product  Buying a computer at $800 and asking for $2000?  Buying a computer at $800 and selling for $1000?  Buying a computer at $800 and selling for $950?

 Number of sales is important when setting your price  If 5 customers are willing to buy at $950, your profit is 5 * ($950 - $800) = $750  If only 3 customers are willing to buy at $1000, your profit is 3 * ($1000- $800) = $600  If no customers are willing to buy at $2000 you are stuck with no profit and a computer. 0 * ($2000 - $800) = $0 Total Profit = (Sell Price – Unit Cost)*Number Sold

 BALANCE SHEET  Assets – Liabilities = Equity  Buckets PROFIT AND LOSS STATEMENT  Gain/Loss = Income - Expenses  Chutes

 ASSETS  Money in the Bank $ 1000  What Customers owe us $ 100  Equipment Value $ 500 LIABILITIES  Loans to be paid $ 800  Bills to pay $ 200 EQUITY  Book Value $ 600

 INCOME  Sales $ 1000 EXPENSES  Cost of Good Sold $ 500  Rent/Bills $ 200  Payroll $ 200 NET INCOME/LOSS  Score +$ 100

 Do what you love to do Be proud of what you do Show others your value Take chances Learn from your mistakes Be Objective Use freedom to improve quality of life Bad/Uncertain Economy = Opportunity

Business Owner at middle school career day

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