Intro to business
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Transcript of Intro to business
04/12/2304/12/23(c) Expressive Business Strategies,Inc. 2005-2010. (c) Expressive Business Strategies,Inc. 2005-2010.
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Introduction to Introduction to BusinessBusiness
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Types of BusinessTypes of Business
ServicesServices
ProductProduct
Combination Services and ProductCombination Services and Product
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Types of Business - ServiceTypes of Business - Service
CharacteristicsCharacteristics Labor intensive Labor intensive Low capital investmentLow capital investment Pure entrepreneurialismPure entrepreneurialism
Creating something out of Creating something out of nothing…nothing…
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Example : ServicesExample : Services
Auto DetailingAuto Detailing Truth: The the more cars you detail, the Truth: The the more cars you detail, the
more money is made! (Labor intensive)more money is made! (Labor intensive) Supplies: A vacuum cleaner, cleaning Supplies: A vacuum cleaner, cleaning
supplies, car polish, some advertising, supplies, car polish, some advertising, maybe a website, business cards (Small maybe a website, business cards (Small relative investment)relative investment)
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Types of Business - ProductTypes of Business - Product
Characterized by:Characterized by: High Upfront Capital investmentHigh Upfront Capital investment No limit to the money you can make No limit to the money you can make
governed only by demand not time.governed only by demand not time.
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Example: Product BusinessExample: Product Business
Retail Car Accessories shopRetail Car Accessories shop Large Initial business development Large Initial business development
investment in purchasing inventory, display investment in purchasing inventory, display units, floor space….units, floor space….
The more products sold the higher the order The more products sold the higher the order quantity, the lower the cost.(Commodity quantity, the lower the cost.(Commodity nature)nature)
To make more money sell more units (Scales To make more money sell more units (Scales well)well)
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Types of Business - CombinationTypes of Business - Combination
Characterized by:Characterized by: Product combined with servicesProduct combined with services Combination increases profit marginCombination increases profit margin
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Example: CombinationExample: Combination
Car Accessory Shop that offers detailing.Car Accessory Shop that offers detailing. Maybe start with Auto Detailing business, Maybe start with Auto Detailing business,
which allows you to purchase inventory, your which allows you to purchase inventory, your detailing customers are a ready made market detailing customers are a ready made market for accessories. for accessories.
Combining accessories, with auto detailing Combining accessories, with auto detailing significantly increases profit potential per significantly increases profit potential per customer.customer.
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Types of Businesses - SummaryTypes of Businesses - Summary
Businesses fall into 3 categoriesBusinesses fall into 3 categories Services (Most business start here…)Services (Most business start here…) Product ( Most businesses want to be here)Product ( Most businesses want to be here) Highly profitable business end up here:Highly profitable business end up here:
Combination Services and ProductCombination Services and Product
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What do you see here?What do you see here?
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I see business opportunities…I see business opportunities…Chimney
Sweep
LandscapingLawn Care
Window Cleaning
HousePainting
TreeTrimming
PressureWashing
House Cleaning
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What do you see here?What do you see here?
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I see business opportunities…I see business opportunities…Garage Storage
Solutions
CarDetailing
CarMechanic
Car Accessories
Car Speciality(Brakes, Mufflers,
Winshield repair etc)
Bicycle Repair
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Where do I start?Where do I start?
Business starts with an idea. Ideas for Business starts with an idea. Ideas for business come from looking at:business come from looking at: NeedsNeeds WantsWants DesiresDesires
These are the Foundation of a Business.These are the Foundation of a Business.