Think like an entrepreneur
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Bringing a Product to Market
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Think like an entrepreneur
- 1. Think Like an Entrepreneur Gary Bronga
- 2. General Course Objectives Upon the completion of this course the student will be able to: ⢠Assess potential to become an entrepreneur; ⢠Be aware of ways to generate ideas and how a fertile human mind can be an idea machine; ⢠Identify changes and trends as a source of new business ideas ⢠Discover career paths to develop entrepreneurial skills ⢠Identify personal goals, background, hobbies, interests, experience, abilities and financial resources that impact the choice of business ⢠Acquire knowledge about legal issues and ethical business choices.
- 3. Creative Thinking â˘Brian Levinâs Jerk Test â˘Brainstorming â˘Life Observations â˘Mechanisms to Generate Ideas
- 4. Self-Employment Pros/Cons â˘Job Security Issues â˘Rising Capital â˘Time management â˘Starting a Business while still employed
- 5. Developing Entrepreneurial Skills â˘Career paths that can help develop entrepreneurial skills. â˘Study and read successful stories â˘Learn from life around you â˘The lifestyle entrepreneur â˘Web and social marketing
- 6. Teen Entrepreneurs â˘Expenses are low â˘Lack of skills â˘Capital â˘Experience â˘Our society has not told them they can not do it â˘They have the time and energy
- 7. Protecting Your Idea â˘Patents â˘Trademarks â˘Copyrights â˘Non-Discloser Statements â˘Web domain and DBA â˘Sell the most the fasted for market share
- 8. Patents â˘Do you need a Patent? â˘Types of Patents; Utility and Design â˘Provisional Patents â˘Patent it yourself â˘Patent Pending â˘New Laws
- 10. Running a Business â˘Limiting personal liability-the business structure â˘Fanatical software and your customer list and funding â˘Business phases and cycles-start with the end in mind â˘Public Relations over advertising
- 11. PROTOTYPES â˘Locally â˘SBDC â˘Dun and Bradstreet Directory â˘Search engine â˘Local Inventor clubs
- 12. Finding a Manufacturer for Your Product â˘USA or Asia â˘More than one manufacturer â˘Non-disclosure forms â˘Ask for references and check them
- 13. Will my Product sell? â˘Trial period â˘Test prices â˘Colors and durability â˘Test for retail sales â˘Test for wholesale sales â˘Test, test and test some more
- 14. Early Marketing and PR â˘Friends and family â˘Niche marketing â˘Trade shows â˘Catalog buyers â˘Online sales and blogs
- 15. PR- The Benefits of Press Releases â˘Sales â˘Community awareness â˘Shipping rates â˘Banking benefits â˘Many advantages over advertising
- 16. Financing a New Business â˘Begin Small â˘Keep your day job â˘Avoid debt â˘Use your time and effort instead of money
- 17. Starting a Business in a Down Economy â˘The 1930âs â˘Less venture capital â˘Buyers have more time â˘Mail volume decreases â˘Everyone is open to negotiation
- 18. Negotiating â˘Everything is negotiable â˘Price negotiations â˘Quantity price maneuver â˘You got to do better than that â˘Everyone is open to negotiation â˘Win-win vs. win-lose
- 19. Persistence, Commitment and Integrity â˘Merchandise buyers â˘Dealing with mistakes â˘Customer service
- 20. How to Bring a New Product to Market in Three words â˘Read â˘My â˘Book