Executive Director of Disney Entrepreneurship Center
Think like an entrepreneur
What is the benefit in what I provide?
Started out at AT&T
Easy, had monopoly
Switched to a software company
"People don't care about you, they care about what you do for them."
Sold $100 million dollars
"I didn't know alot about lighting, I knew who to benefit"
"You have to say what I do for you."
Who will buy it?
Light business started out in entertainment.
Who is going to buy it?
Those that are qualified or interested.
Who has money?
after targeting
Have you planned for this in the budget
What are they charging?
Find out the professional associations.
Ask them about your market.
No matter who it is, there is an association for it.
Business Information Resources Book (found at library) has
all companies in category
all conferences
all associations
Use library researchers
Keep your ears and eyes open
Watch for needs all the time, every where.
Always watch for the demand, no matter how subtle
Reality
Needs bread
Want steak
Demand hamburger
You have to hit the streets
You have to get outside of your circle
All about business plan and research
but you have to be tactical
What will they pay?
Don't spend the money unless you have a client.
This is about profit, if you can't sell it, you have an expensive hobby.
negotitiaon
Price & terms
talk price with terms
talks terms with price
Business Information Resources Book (found at library) has
all companies in category
all conferences
all associations
Use library researchers
Keep your ears and eyes open
Watch for needs all the time, every where.
Always watch for the demand, no matter how subtle
Reality
Needs bread
Want steak
Demand hamburger
You have to hit the streets
You have to get outside of your circle
All about business plan and research
but you have to be tactical
What will they pay?
Don't spend the money unless you have a client.
This is about profit, if you can't sell it, you have an expensive hobby.
negotitiaon
Price & terms
talk price with terms
talks terms with price
I need a lamp
1,000 for 3 days
800 for 2 days
800 for 2 days
If they go for 2 days then you just got 66$ more per day
on new years I have a limited supply of lights
1,000 a night on new years
Very High Demand, set up a very high price
Know about your competitors.
Every market I entered I had competition.
Know your price. Know everything about your competitors.
Sell value don't sell price.
Know about your competitors.
Every market I entered I had competition.
Know your price. Know everything about your competitors.
Sell value don't sell price.
We were always the most expensive.
Got to know price and cost.
Put competitors out of biz by using their competitiveness against them, by claiming to give people things at extremely low prices. Thus resulting in them operating at a loss to compete with you, even though you are charging more. Destabilize your competition.
Don't lower your price you sell value.
Know what you are really selling and how you benefit the people you are selling to.
Overhead will kill you, you dont need new desks and chairs.
Entrepreneurs forage, to profit the most. Overhead and going through your start up capital WILL KILL YOU.
Everything we do is about profit, the "net net".
How much money are we making at the end of the day?
You have to know when you are going to make money and when you are not.
Got to know price and cost.
Put competitors out of biz by using their competitiveness against them, by claiming to give people things at extremely low prices. Thus resulting in them operating at a loss to compete with you, even though you are charging more. Destabilize your competition.
Don't lower your price you sell value.
Know what you are really selling and how you benefit the people you are selling to.
Overhead will kill you, you dont need new desks and chairs.
Entrepreneurs forage, to profit the most. Overhead and going through your start up capital WILL KILL YOU.
Everything we do is about profit, the "net net".
How much money are we making at the end of the day?
You have to know when you are going to make money and when you are not.
Usually small business owners don't know when they are profiting from what they are selling, thus resulting in a lot of businesses have high sales, but making not money.
People will take advantage of you because you are new.
Know price
Know Value
Know who is going to buy
Believe in your business
Make money
Where do I find them?
you go where they go
where they live
where they shop
and you go to them.
Zip code demographics, look up any zip code and it will tell you the demographic.
scc.gov
SCC is very valiable, knowledge is power in this world
see all there quarterly reports
easy to find in for business research
reference USA
Info USA
Business Journal book of lists, once you get someone, you get the people they hangout with
We always hang out with people like us.
Everyone will try to steal your idea. Build trust overtime. If you have a good idea people will be right behind you.
Non-Disclosure agreement
People don't want to sign things.
"If i have to sign a document, I dont want to give my time for free"
Just describe the benfits, who cares how it works. No one knows how software worked that I sold them, but they knew how it benefited them.
Determine how much you give and also the profitability. Risk taking versus needs: I know this is going to be close, but it is important and we need to do it to get to the next level.
Business people know when they are making money. alot of small businesses just don't know when they are not losing money.
People will take advantage of you because you are new.
Know price
Know Value
Know who is going to buy
Believe in your business
Make money
Where do I find them?
you go where they go
where they live
where they shop
and you go to them.
Zip code demographics, look up any zip code and it will tell you the demographic.
scc.gov
SCC is very valiable, knowledge is power in this world
see all there quarterly reports
easy to find in for business research
reference USA
Info USA
Business Journal book of lists, once you get someone, you get the people they hangout with
We always hang out with people like us.
Everyone will try to steal your idea. Build trust overtime. If you have a good idea people will be right behind you.
Non-Disclosure agreement
People don't want to sign things.
"If i have to sign a document, I dont want to give my time for free"
Just describe the benfits, who cares how it works. No one knows how software worked that I sold them, but they knew how it benefited them.
Determine how much you give and also the profitability. Risk taking versus needs: I know this is going to be close, but it is important and we need to do it to get to the next level.
Business people know when they are making money. alot of small businesses just don't know when they are not losing money.
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