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

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

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