BUS 100 Lecture slides, Feb. 15, 2011

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Transcript

  • 1. Chapter 5:The Challenges of Starting a Business
  • 2. 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
  • 3. Vanilla Bicycles
    • Founded 1999, Portland Oregon
  • 4. 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
  • 5. 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?
  • 6. Why do people start own businesses?
    • be own boss
    • lifestyle
    • financial independence
    • creative freedom
    • use skills & knowledge
    • no jobs available
  • 7. Why doesn't everyone start their own business?
    • risk
    • work
    • responsibility
    • stress
    • undesirable duties
  • 8.  
  • 9. Business plan:
    • purposes
      • feasibility study
      • obtain funding:
        • loans, investment
      • must be detailed, but must have compelling executive summary
  • 10. 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?
  • 11. Description of business
  • 12. Industry analysis
  • 13. Mission Statement/Core Values
  • 14. Management Plan
    • Form of organization
    • Qualifications of management
    • Compensation package
    • Organizational structure
  • 15. Goods, Services, Production Process
  • 16. Marketing
    • Target market
    • Pricing
    • Distribution
    • Promotion
  • 17. Global issues?
  • 18. Financial plan
  • 19.  
  • 20. What does it take to succeed?
    • Business knowledge
    • Management skills
    • Attitude
    • Adequate funding
    • Money management
    • Time management
  • 21.  
  • 22. Why do businesses fail?
    • Bad idea
    • Cash problems
    • Managerial incompetence
    • Poor customer focus
    • Inability to handle growth
  • 23.  
  • 24. Help!?!
    • SBA
      • Small Business Development Center
    • SCORE
    • Incubators
  • 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/