小企业管理第2讲.pptVIP

Small Business ManagementProfessor Hornaday Lecture 2 Small Business ManagementGETTING THE IDEA Need a Niche1. Identifiable Market Segment2. Can Satisfy the Segment at a Profit3. Can Defend against all Competitors Usually Small Firms offer Superior Quality Service1. Flexible2. Short Decision Time3. Short Production Runs4. Small Inventory Balances5. Personal Contact with Customers New-New or New-Old? Small Business ManagementTHE BUSINESS OPPORTUNITY Open Niche Competition Availability of Materials Availability of People Availability of Location Availability of Funding Specific Competitive Edge Desired Growth Pattern Small Business ManagementMarket Analysis 1. Brief Description of the Business Opportunity 2. A Detailed Description of the Market Segment 3. A Detailed Description of the Market Niche 4. Emphasize Price, Unit Sales Estimates, and Competition Small Business ManagementGETTING INTO BUSINESS Start-up? Purchase? Inherit? Franchise? Small Business ManagementSTART-UP PROBLEMS Timing Cash Flow Estimates Initial Capital Requirements Location Equipment Services Required Legal Form of Organization Small Business ManagementMARKETING Nature of the MarketWho, What, When, Where, How? Price, Place, Product, Promotion Estimate Volume in Units Determine PricingCover CostsMeet Customer Demand CurveMeet Competition Consider Seasonality Specific Competitive Edge Desired Growth Pattern Small Business ManagementMANAGING CONTROLLING OPERATIONS Planning, Organizing, Staffing, Directing, Controlling Specific Location and Layout Work Flow Analysis Who does What When? Pay and Incentives Control of Cash, Inventories, and Supplies Insurance Security Requirements Small Business ManagementFINANCIAL PROJECTIONS Financial Projections put the Plan into Numbers Pro Forma Income Statements Pro Forma Balance Sheets Cash Flow Projections When do Investors get their Money Back? How When are Investors Rewarded? How When are Owners Rewarded? Small Busine