alpha entrepreneur case study 3 ann morris bliss ann morris enterprises, inc. aa

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Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

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Page 1: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

Alpha Entrepreneur Case Study 3

Ann Morris BlissAnn Morris Enterprises, Inc.

Aa

Page 2: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

Led by President Ann Morris Bliss

Disability: Totally blind

Business Started: 1985

Mail Order Catalogue

3 Employees

Innovative Products Dedicated to People with Vision Loss

Ann Morris Enterprises, Inc.

Stormville, New York

Page 3: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Didn’t like the job she was in

- Always wanted to start her own business

- Found product idea that there was a need for in the market- Opticon

- Developed Opticon to help visually impaired use Opticon device to read printed material more effectively

- Developed second product for visually impaired and decided that a catalogue for the products would be a great business

Why She Started the Company

Page 4: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Computers and software weren’t accessible

- Couldn’t read printed media

- Could have purchased scanner but wasn’t viewed as efficient

- Hired sighted people willing to help her

- Used low tech solution to solve high tech problem

Challenges She Faced Starting the Business

Page 5: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Sought outside programmer for customized business operations software

- Stayed with the software for 13 years because it worked, (i.e. if it ain’t broke, don’t fix it)

What outside resources did she need to make her business successful?

Page 6: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- She funded it with her own money, loaning the capital to the company as the company needed it

- Paid the loans back with interest

How did she finance her business?

Page 7: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Now relies 100% on talking computers

- Computerized mailing list key to business

- Catalog is written with the computer

- All accounting now done with the computer

- Uses ‘Braille and Speak’ or “Braille Millenium”

What technology did she need to build the business ?

Page 8: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Originally tried to rent mailing lists of blind and visually disabled, but none were available for renting…developed her own list from scratch

- Built the list through repeat annual visits/exhibits at conventions for blind/visually impaired….word of mouth.

- Purchased guide to rehabilitation agencies and sent catalogues

- Placed ads in periodicals for blind/visually impaired

How did she market her business to her customer base?

Page 9: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Where change isn’t necessary, she stays with what works

- Internet represents the most change she’s had to deal with

- She should always address change in her business plan and how she anticipates/deals with it.

How does she deal with the inevitability of “change” in business?

Page 10: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Vendors very important, they take her feedback and manufacture new products to meet the market need

- Competition also important in that in the blind/visually impaired arena, competitors buy and sell from each other

- This “Co-opetition” also prevalent in other disability sector markets also.

What strategic partnerships play a role in her business?

Page 11: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Selling through the conventions to people in person

- The catalogue, itself, with large print copies and Braille version

- Advertisements in periodicals, web site

- Four-track audio cassette for “Talking Book Player” used by Library of Congress

What mediums does she use to identify and get to her target demographic market?

Page 12: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Continually searches out new products, 200-250 per year, monitors their success and takes out what doesn’t work.

- Concentrates on the individual consumers rather than marketing through just the rehabilitation agencies that her competitors do

- Emphasis on good customer service along with that individual attention

How does she stay ahead of the competition?

Page 13: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Husband, biggest support system

- Husband/wife teams, where either has disability creates special reliance relationship important to making or breaking a business… this may not be as crucial for spouse teams without disabilities.

Who was her mentor?

Page 14: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Would have tried to be more knowledgeable… she would have known what she “didn’t know” before starting

- Would have hired more employees initially and delegated earlier

- Micro-management can make you ineffective, inefficient

What would she have done differently if she did it all over again?

Page 15: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Cycles 20% of products in 950-product catalog each year, based on customer feed-back

- Elimination of products occurs if they don’t sell, customers don’t find them useful after the sale or manufacturer discontinues

What does she do with the feedback she gets from her customers?

Page 16: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- She never gave up the original manufacturing capability….developed tone indexer, liquid level indicator…“pour no more”, a light probe, and battery tester.

- Others adapt product for her…tactile rivets on a meat thermometer, etc.

- She doesn’t rely on others….she leads the diversification process

How does she address diversification in her product line? What examples?

Page 17: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- She had no formal business plan

- Joined network of entrepreneurs to guide her

- Business plan was “in her head” and evolved as the business evolved

- Business plans are important…she would have worked it out before hand if she could do it again

- Learned that being in a commercial location is better than original residential office from a business standpoint

What was her original business plan?

Page 18: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Nobody refused to work for her because she was disabled… but many wanted to work for larger company

- Employees are so important to disabled entrepreneurs because there is so much you need them to do…they must become a friendand partner

- They must be willing to do things such as read to her…a task they wouldn’t be asked to do in other businesses…and if the labor market is tight, its often hard to find people willing to do this

What were the challenges she faced in hiring people?

Page 19: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Learn as much as you can before you start

- Be prepared…especially with technology

- Get ready to put in many long hours…its inevitable in any small business if you want to be successful

- It’s that much more time, if you are an entrepreneur with disabilities

What is her advice to other entrepreneurs with disabilities?

Page 20: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- In preparation for exit, she plans to continue to grow the business, continue to find new products to sell, etc.

- In 10 years perhaps sell the business to another important company so she can retire or do something else

- Wants to sell to someone that will maintain the good reputation of the business….looking for the right entity

What is her exit strategy?

Page 21: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- She’s experienced some slumps but continues to do well because she’s attracted stable customer base

- She is in a specialized market, demand remains steady, not an impulse buy.

- Many items purchased by funding provided to customer by government…doesn’t see any cutbacks here, growth to remain steady

How is the current downturn in the business cycle affecting her business?

Page 22: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Needs to know what’s going on at all times to manage employees…this is sometimes difficult with her disability

- She relies heavily on her hearing to monitor all parts of the business…phone conversations, employee conversations, even if it means sometimes she hears things she doesn’t want to hear

What are the frustrations she experiences in running a business?

Page 23: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- She custom-designed her commercial warehouse so that she could assist with shipping when necessary

- Developed system for carpet placement to help her “feel” where she was at all times

- Installed improvements to assist an employee with disabilities

- Innovations not necessarily high tech

What innovations did she deploy to help her run her business?

Page 24: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Small Business Administration

- SCORE

- National organizations for disabilities, advocacy groups

- Disability self-reliance doesn’t preclude help from key organizations on the outside

What business groups helped her in building her business?

Page 25: Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Aa

- Toll-free number 1 (800) 454-3175

- www.annmorris.com

How does one contact Ann Morris Enterrpises?