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Entrepreneurship for Veterans

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A presentation designed and presented by Prof. Rebecca Knapp to veterans at Saddleback College. This presentation covers three areas of discussion: 1) Is entrepreneurship right for you?; 2) Practice …

A presentation designed and presented by Prof. Rebecca Knapp to veterans at Saddleback College. This presentation covers three areas of discussion: 1) Is entrepreneurship right for you?; 2) Practice creating the core elements of a business plan; and 3) Share resources, sites, organizations and apps that help not only veterans, but also entrepreneurs in general.

Published in: Business, News & Politics

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Transcript

  • 1. WHAT IS ??? Rebecca Knapp, MBA Business Science Division
  • 2. DEFINITION Finding opportunity  Innovation  Starting a new business  Effective management  Bearing risk  Creating value for your community 
  • 3. WHY GO INTO BUSINESS FOR YOURSELF? The desire for independence & destiny  The willingness to find and accept a challenge  Personal background  “Had enough” of working for someone else  Losing a job and deciding to start a business  An idea for a new product  An opportunity presents itself 
  • 4. CHANGING PERSPECTIVE  Invention = NEW  Innovation = IMPROVING  Create a need for something that consumers don’t even know they need.  Cure a “pain”
  • 5. NEW NEEDS
  • 6. ENTREPRENEURSHIP  The average entrepreneur fails THREE times before succeeding  The average business takes 3-5 YEARS to make a profit
  • 7. KEYS TO SUCCESS  Don’t let naysayers stop you.  Share your idea with EVERYONE.  Expect jealousy.  Develop thick skin and strong intestinal fortitude.
  • 8. LET’S START A BUSINESS!
  • 9. IDEAS:
  • 10. MISSION STATEMENT To…
  • 11. MISSION STATEMENT  A concise statement of       Target customers Products & services Markets served Use of technology Importance of public issues & employees Focus on survival, profitability & growth
  • 12. MISSION STATEMENT EXAMPLES  Aflac   To combine aggressive strategic marketing with quality products and services at competitive prices to provide the best insurance value for consumers. Nike  To Bring Inspiration and innovation to every athlete in the world.
  • 13. MISSION STATEMENT EXAMPLES  Barnes & Noble  Our mission is to operate the best specialty retail business in America, regardless of the product we sell. Because the product we sell is books, our aspirations must be consistent with the promise and the ideals of the volumes which line our shelves. To say that our mission exists independent of the product we sell is to demean the importance and the distinction of being booksellers. As booksellers we are determined to be the very best in our business, regardless of the size, pedigree or inclinations of our competitors. We will continue to bring our industry nuances of style and approaches to bookselling which are consistent with our evolving aspirations. Above all, we expect to be a credit to the communities we serve, a valuable resource to our customers, and a place where our dedicated booksellers can grow and prosper. Toward this end we will not only listen to our customers and booksellers but embrace the idea that the Company is at their service.
  • 14. OUR MISSION STATEMENT Questions What does our team want to be known for? How do we want to treat each other? What kind of workplace do we want to have? What unique talents and skill does each person bring to the team? What do we want to achieve? What unique contributions can we make? Answers
  • 15. LEGAL ORGANIZATION LLC or not to LLC, that is the question.
  • 16. TYPES OF BUSINESSES Sole Proprietorships  LLC  Partnerships  Corporations  C Corp  S Corp  Franchises  Coops 
  • 17. FORMS OF BUSINESS OWNERSHIP
  • 18. FRANCHISE CONTRACT Branded Product / Service Performance Monitoring $$$$$ $$$$$
  • 19. CITY REQUIREMENTS  http://rebeccaknapp.webs.com/entrepreneurship.htm
  • 20. MARKETING PLAN Promotions and Social Media
  • 21. LOGO
  • 22. THE 4 P’S • • Price Promotion • Product Place •
  • 23. PROMOTIONAL TACTICS Personal Selling  Sales Promotion  Public Relations  Direct Mail  Coupons  Demonstrations  Exhibitions  Social Media  Special Events  Advertising  Sponsorship  Web Sites  Trade Shows  Sampling  Sweepstakes  Publicity Stunts  In-store Displays  Contests 
  • 24. PROMOTIONAL MIX & TACTICS
  • 25. PRICE LIST AND SALES PROJECTIONS Sales Forecasting
  • 26. SALES FORECASTING
  • 27. FINANCES
  • 28. START-UP CALCULATOR  www.entrepreneur.com/calculators
  • 29. TOOLS & RESOURCES
  • 30. TOOLS AND RESOURCES SPECIFICALLY FOR VETERANS  Techstars http://www.techstars.com/risingstars  InclineHq http://inclinehq.com  American Corporate Partners (ACP) http://www.acp-usa.org  Victory Spark http://victoryspark.com  Entrepreneurship Bootcamp for Veterans with Disabilities (EBV) http://whitman.syr.edu/ebv
  • 31. TOOLS AND RESOURCES SPECIFICALLY FOR VETERANS  Entrepreneur.com: http://www.entrepreneur.com/veterans  Veteran Entrepreneur Portal: http://www.entrepreneur.com/veterans/  America’s SBDC: http://asbdc-us.org/Resources/VeteranRelated.html  BofA’s Veteran's Guide to Entrepreneurship: http://tinyurl.com/nxpjsfm
  • 32. ORGANIZATIONS
  • 33. SMALL BUSINESS DEVELOPMENT CENTERS  Small Business Development Centers (SBDC) http://www.sba.gov/aboutsba/sbaprograms/sbdc/index.html Funded jointly by the federal government and individual states.  SBDCs are able to evaluate the feasibility of your idea, develop your business plan and complete your funding application – for no charge. 
  • 34. SCORE  SCORE Orange County: http://www.score114.org/ SCORE is a nationwide nonprofit organization dedicated to the formation, growth and success of small business.  A resource partner with the U.S Small Business Administration (SBA) 
  • 35. ASSOCIATION OF VETERAN ENTREPRENEURS  http://associationofveteranentrepreneurs.com AVE is a professional organization that equips veterans with fundamental business expertise to expand their business, their network, and build lasting relationships.  Launching a series of boot camps designed specifically for startups in high-tech, high growth industries. 
  • 36. APPS
  • 37. ENTREPRENEURSHIP APPS
  • 38. BUSINESS MANAGEMENT APPS
  • 39. MARKETING APPS
  • 40. ACCOUNTING APPS
  • 41. HUMAN RESOURCES APPS
  • 42. FRANCHISING APPS