presents: finding your niche students to start-ups entrepreneurial skills workshop series
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Presents:
Finding Your Niche
Students to Start-UpsEntrepreneurial Skills Workshop Series
Students to Start-UpsEntrepreneurial Skills Workshop Series
Who or What is SCORE?Who or What is SCORE?
What is “Students to Start-ups”?What is “Students to Start-ups”?
Students to Start-Ups
I. Workshop Series
I. One-on-One Counseling
II. Future (web and/or pod casts, CD, etc.)
Workshop: Finding Your NicheWorkshop: Finding Your Niche
“How to get and keep customers”By Tom Patty
Why Should You Listen to Me?Why Should You Listen to Me?
What I learned – 21 Years at Chiat/Day (Apple)importance of single strong benefit (Nike)importance of understanding target (Pepsi-co)importance of growing business (Yamaha)importance of market segments (Nissan)importance of purchase process
Other LearningOther Learning
Wolfgang Puck Food Company World Point (dot com) Island Side of Life
Two Part ProcessTwo Part Process
I. Workshop / Learn Principles
II. Counseling/application to your business
Principles apply to both Products (Purchased) and Services (Performed)
How to create a successful companyHow to create a successful company
1. Create a product or service that solves a problem or fulfills a need in some market segment.
2. Identify the specific target audience for whom product or service is most beneficial
3. Create a compelling benefit statement for this target audience
4. Using all the tools in marketing toolbox, differentiate from competition
5. Create awareness for product/service in terms of specific benefit for target audience
How to create a successful company (continued)How to create a successful company (continued)
6. Continue to provide appropriate information as
customers move thru purchase process7. Create incentives to make sale8. Create incentives to reward customers for
repeat business9. Using marketing tool box, create ways to grow
business (more new customers—more frequency of use)
What is Marketing?What is Marketing?
Getting and Keeping Customers Creating Customers
Most important marketing realityMost important marketing reality
Different people Want different things For different reasons
Marketing Golden RuleMarketing Golden Rule
Do unto others As THEY want to be done unto
Why is good marketing so rare?Why is good marketing so rare?
Marketing requires a different perspective Think like a customer
6 Things you need to know6 Things you need to know
1. Know your market
2. Know your customer
3. Know your competition
4. Know how to grow your business
5. Know how to use differentiate
6. Know how to create awareness
1.Know Your Market1.Know Your Market
What is the size of market? What are the market segments? What segments are growing, shrinking? What is seasonality? What is the purchase process?
I don’t know about it
I’ve heard of itI’ll consider it
I’ll buy it
SOLD
Love it Hate it
Neutral
Repurchase
Shopping
Owning
Purchase ProcessPurchase Process
2.Know your Customers2.Know your Customers
Who are they? (Demographics) Who are they? (Psychographics) Where are they? What do they want, what are they buying? What purchase triggers exist?
3. Know your competition3. Know your competition
Who is competition? (direct and indirect) Where is competition? (domestic or abroad) What products/services at what price? How do customers feel about competition? Strengths and weaknesses
4. Know how to grow your business4. Know how to grow your business
How to get more NEW Customers
*new products (new concepts)
*new distribution (new markets)How to get more $ from EXISTING
customers?
*increase frequency of use
*increase price
5. Know how to differentiate5. Know how to differentiate
How to use Marketing Tool Box
Product
Price
Packaging
Place (distribution)
Promotion
6. Know how to create awareness6. Know how to create awareness
Word of mouth (signage) Publicity (stunts) Internet (gorilla marketing) Direct marketing Paid media (internet, newspapers, etc)
Summary: What you need to knowSummary: What you need to know
1. Know your market
2. Know your customer
3. Know your competition
4. Know how to grow your business
5. Know how to differentiate
6. Know how to create awareness
Examples of creating a customerExamples of creating a customer
Barnes & Noble Apple (IPOD) UPS Ace Baja Fresh
Additional ResourcesAdditional Resources
BooksThe Marketing Imagination by Theodore M. Levitt
Management: Tasks, Responsibilities, Practices by Peter F. Drucker
Crossing the Chasm by Geoffrey A. Moore
Inside the Tornado by Geoffrey A. Moore
The Innovator’s Dilemma by Clayton M. Christensen
Additional ResourcesAdditional Resources
WebSCORE Orange County http://www.score114.org (click
on “Business Library”
Creating a Competitive Advantage (free online workshop) http://www.va-interactive.com/score/
Researching Your Market http://www.sba.gov/library/pubs/mt-8.pdf
Business Toolkit http://www.toolkit.cch.com/BOToC.asp
More links at http://www.score.org and www.sba.gov
Additional ResourcesAdditional Resources
Small Business Solutions CD from SCORE OC
Additional ResourcesAdditional Resources
PeopleUCI Center for Entrepreneurship and Innovation
SCORE Orange County www.score114.org
UPCOMING WORKSHOPS
February 7th March21st
Demystifying Financial Statements Driving Growth Through DistributionChannels and Sales Management
February 21st April 4th Sure-Fire Secrets to Entrepreneurial Nuts & Bolts of Business StructureSuccess and Licensing
March 7th April 18th Finding Start-Up Capital Refine Your Unique Value Proposition
Students to Start-UpsEntrepreneurial Skills Workshop Series
Students to Start-UpsEntrepreneurial Skills Workshop Series
Next StepsNext Steps
Sign up for future “Student to Start Up” workshops
Decide what specific area of your business (raising money, distribution, marketing, etc) would benefit from counseling
Contact UCI Center for Entrepreneurship and Innovation to arrange no-cost counseling from SCORE
Thank You! Thank You!
