business start up
DESCRIPTION
Business start up, business startup, get rich, be your own boss, risk, financial freedom, capital, location, funding, customer service, where is the money, products, services, increase sales, revenues, business name, jose cintron, advance business consulting, mba4help.comTRANSCRIPT
Business Start-up
Jose Cintron, MBA-CPCBusiness/Accounting Professor
[email protected](954) 374-8298
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Are you ready for this?
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Why Start a Business?
To Capitalize on an Invention or IdeaTo Pursue a PassionTo Be Their Own BossTo Get Rich $$$
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Why people don’t try?
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Are you ready to take the risk?
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You build it and the will come, Right?...Wrong!
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What are the chances???
Statistics show that 8 out of 10 new businesses fail within the first three years.
?????????????????????? 80% of new businesses fail within their first three years.
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How you get the Financial Freedom?
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Why Business Fail ?
1. Wrong reasons2. Poor Management3. Insufficient Capital4. Location, Location, Location 5. Lack of Planning6. No Clue/No help/Guidance7. Wrong/No marketing
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Why Business Fail ? Sales
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Customer Service/Satisfaction
SandwichEgg and Ham $4
Egg and Cheese $4 Cheese and Ham $4
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What is your Target?
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The egg or the chicken?
Business is not the dream but the vehicle to get where you want to go.
“I Have A Dream” NO- “I Have A Plan”
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Funding Sources $$$
Savings-401kRefinanceFriends and FamilyFinancial Institutions Angel Investors
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What vehicle do I need to reach my destiny?
Going to Orlando, FL Going to Las Vegas, NV
Around the neighborhood
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Where are you going?
If you don’t know where you going any road will take you there!
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What is the Trend ?
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We will not go back to doing business the way we used to in the past!
Businesses
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We will not go back to doing business the way we used to in the past!
Government
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We will not go back to doing business the way we used to in the past!
City
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Where is the Money ?
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What is your product?
Farm $1.00 Supermarket $3.00
Restaurant $6.00
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What is your service?
ConsultingCoaching Classes Training
Selling Installingwarranty Servicing
You do it for multiples
business owners
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What kind of business?
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Lets Analyze….
Products/merchandise Services Market and NicheContribution Margin
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Did you answered, Yes?
Do you have a great product?Do you have an awesome Price/value?Do you have clientele or email list?
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Products-Volume
1 X $10,000 10,000 X $1
What is your “Business Model”
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Services
High End ClienteleLow End Clientele
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Target Market and Niche
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How to increase sales
Incrementar Clientes
Incrementar el monto de compra
Incrementar repetición o número de veces.
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BEP and Contribution Margin
Fixed Cost- $10,000(Rent, insurance, manager, interest…)Variable cost- $800/ea (Hourly, commission, inventory…)Sales are $1,000 per unit
$1,000-$800=$200 Contribution Margin
$10,000/$200=50 units to BEP Fixed Cost/Contribution Margin.
$10,000+5.000=$15,000/200=75 units to make a $5,000 profits.
$50,000X10%=5,000/12=416 interest per month.
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Life’s too short for the wrong job.
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Are you doing what you love?
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You must be competent
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You must be creative!
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Why Customers Buy?
Customer does not buy for the characteristic but for the benefits.
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What’s for me?
WhiteningBad BreathCavitiesPlaqueWeak EnamelTender GumsGingivitis
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What is your business name?
Pedro’s Restaurant----------Mexican Restaurant
Pedro’s Haircut--------------Haircut 4 Less
Miami Taxes-----------------Taxes R us
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Email and URL
[email protected] NO [email protected] YES
http://sylviescreation.com NO or http://jewelrybysylvie.com
http://Pedrosshop.com NO or http://autorepair.com
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Conclusion
Entrepreneur Working for someone else!