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BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
BUS 100 Lecture slides, Feb. 15, 2011
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BUS 100 Lecture slides, Feb. 15, 2011

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Transcript

  • 1. Chapter 5:The Challenges of Starting a Business
  • 2. Quiz <ul><li>Closed book/closed notes </li></ul><ul><li>Put your phones away </li></ul><ul><li>You may collaborate with your team </li></ul><ul><li>You are responsible for the answers on your quiz </li></ul><ul><li>You do not have to choose the same answers as your team </li></ul>
  • 3. Vanilla Bicycles <ul><li>Founded 1999, Portland Oregon </li></ul>
  • 4. Ordering <ul><li>As of April, 2009 the wait for a custom Vanilla is over five years. </li></ul><ul><li>Has not accepted any deposits since 2009, but keeping a list of interested parties. </li></ul><ul><li>$1500 deposit, non-refundable </li></ul>
  • 5. In teams: <ul><li>What innovations has Sacha White made at Vanilla Bicycles? </li></ul><ul><li>What has he done to ensure that his business makes a profit? </li></ul><ul><li>What risks has Sacha White taken? </li></ul><ul><li>What advantages does Sacha White derive from owning his own business? </li></ul><ul><li>What disadvantages does he face? </li></ul><ul><li>How did location affect Sacha White's success? Would his business be successful in another location? </li></ul>
  • 6. Why do people start own businesses? <ul><li>be own boss </li></ul><ul><li>lifestyle </li></ul><ul><li>financial independence </li></ul><ul><li>creative freedom </li></ul><ul><li>use skills & knowledge </li></ul><ul><li>no jobs available </li></ul>
  • 7. Why doesn't everyone start their own business? <ul><li>risk </li></ul><ul><li>work </li></ul><ul><li>responsibility </li></ul><ul><li>stress </li></ul><ul><li>undesirable duties </li></ul>
  • 8.  
  • 9. Business plan: <ul><li>purposes </li></ul><ul><ul><li>feasibility study </li></ul></ul><ul><ul><li>obtain funding: </li></ul></ul><ul><ul><ul><li>loans, investment </li></ul></ul></ul><ul><ul><li>must be detailed, but must have compelling executive summary </li></ul></ul>
  • 10. In teams: <ul><li>If you were a venture capitalist, what would you look for in a business plan? </li></ul><ul><li>What questions would you want to be answered? </li></ul><ul><li>How would you evaluate the quality of a business plan? </li></ul>
  • 11. Description of business
  • 12. Industry analysis
  • 13. Mission Statement/Core Values
  • 14. Management Plan <ul><li>Form of organization </li></ul><ul><li>Qualifications of management </li></ul><ul><li>Compensation package </li></ul><ul><li>Organizational structure </li></ul>
  • 15. Goods, Services, Production Process
  • 16. Marketing <ul><li>Target market </li></ul><ul><li>Pricing </li></ul><ul><li>Distribution </li></ul><ul><li>Promotion </li></ul>
  • 17. Global issues?
  • 18. Financial plan
  • 19.  
  • 20. What does it take to succeed? <ul><li>Business knowledge </li></ul><ul><li>Management skills </li></ul><ul><li>Attitude </li></ul><ul><li>Adequate funding </li></ul><ul><li>Money management </li></ul><ul><li>Time management </li></ul>
  • 21.  
  • 22. Why do businesses fail? <ul><li>Bad idea </li></ul><ul><li>Cash problems </li></ul><ul><li>Managerial incompetence </li></ul><ul><li>Poor customer focus </li></ul><ul><li>Inability to handle growth </li></ul>
  • 23.  
  • 24. Help!?! <ul><li>SBA </li></ul><ul><ul><li>Small Business Development Center </li></ul></ul><ul><li>SCORE </li></ul><ul><li>Incubators </li></ul>
  • 25. Photo Credits Vanilla bicycle photos: http://vanillabicycles.com Business plan: http://www.flickr.com/photos/thescott365/ Business description: http://www.flickr.com/photos/mangee/ Industry analysis: http://www.flickr.com/photos/sp8254/ Core values: http://www.flickr.com/photos/scobleizer/ Financial plan: http://www.flickr.com/photos/wonderlane/ Management plan: http://www.flickr.com/photos/23072179@N00/ Production process: http://www.flickr.com/photos/brewbooks/ Marketing: http://www.flickr.com/photos/hubspot/ Earth: NASA Success: http://www.flickr.com/photos/jeffhester/2434283985/ Help: http://www.flickr.com/photos/vox/

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