Chapter 5:The Challenges of Starting a Business
Quiz <ul><li>Closed book/closed notes </li></ul><ul><li>Put your phones away </li></ul><ul><li>You may collaborate with yo...
Vanilla Bicycles <ul><li>Founded 1999, Portland Oregon </li></ul>
Ordering <ul><li>As of April, 2009 the wait for a custom Vanilla is over five years.  </li></ul><ul><li>Has not accepted a...
In teams: <ul><li>What innovations has Sacha White made at Vanilla Bicycles? </li></ul><ul><li>What has he done to ensure ...
Why do people  start own businesses? <ul><li>be own boss </li></ul><ul><li>lifestyle </li></ul><ul><li>financial independe...
Why doesn't everyone start their own business? <ul><li>risk </li></ul><ul><li>work </li></ul><ul><li>responsibility </li><...
 
Business plan: <ul><li>purposes </li></ul><ul><ul><li>feasibility study </li></ul></ul><ul><ul><li>obtain funding: </li></...
In teams: <ul><li>If you were a venture capitalist, what would you look for in a business plan? </li></ul><ul><li>What que...
Description of business
Industry analysis
Mission Statement/Core Values
Management Plan <ul><li>Form of organization </li></ul><ul><li>Qualifications of management </li></ul><ul><li>Compensation...
Goods, Services, Production Process
Marketing <ul><li>Target market </li></ul><ul><li>Pricing </li></ul><ul><li>Distribution </li></ul><ul><li>Promotion </li>...
Global issues?
Financial plan
 
What does it take to succeed? <ul><li>Business knowledge </li></ul><ul><li>Management skills </li></ul><ul><li>Attitude </...
 
Why do businesses fail? <ul><li>Bad idea </li></ul><ul><li>Cash problems </li></ul><ul><li>Managerial incompetence </li></...
 
Help!?! <ul><li>SBA </li></ul><ul><ul><li>Small Business Development Center </li></ul></ul><ul><li>SCORE </li></ul><ul><li...
Photo Credits Vanilla bicycle photos: http://vanillabicycles.com Business plan: http://www.flickr.com/photos/thescott365/ ...
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BUS 100 Lecture slides, Feb. 15, 2011

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Transcript of "BUS 100 Lecture slides, Feb. 15, 2011"

  1. 1. Chapter 5:The Challenges of Starting a Business
  2. 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. 3. Vanilla Bicycles <ul><li>Founded 1999, Portland Oregon </li></ul>
  4. 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. 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. 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. 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>
  9. 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>
  10. 11. Description of business
  11. 12. Industry analysis
  12. 13. Mission Statement/Core Values
  13. 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>
  14. 15. Goods, Services, Production Process
  15. 16. Marketing <ul><li>Target market </li></ul><ul><li>Pricing </li></ul><ul><li>Distribution </li></ul><ul><li>Promotion </li></ul>
  16. 17. Global issues?
  17. 18. Financial plan
  18. 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>
  19. 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>
  20. 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>
  21. 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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