Exercise 5

Subject: Re: Assignment 5 (Due: September 17, before 01:00pm) Wed Sep 15, 2010 1:16 am
Given the chance to have your own techno business, discuss it's nature and target clients (3000 words). Creating and building such idea on how to produce such a successful business needs more studies on how to implement it well. Some of the business ideas are somewhat like other business ideas that can be read and search on the internet . But of course, my ideas may have similarities but I might say that it is better than other ideas. Gaining wisdom within one of your passions can become a 24/7/365 adventure. Look at some things on your list to see if combining them would make someone's life more convenient. There will be challenges, but your dreams are a promise that your efforts can help create. That is why passion to pursue this business idea is so important, it can provide the determination to keep going during difficult times. Look at your own skills and experiences. Write a list of things that you can do well. Write a list of things that you would like to learn to do. Make a list of chores or tasks that you hate and avoid. One of these may lead to a great business idea or opportunity.Making such business proposal can be hard working but after you see the results of your labor it makes you more confident and curious on how to do it very well. Combine some items from your products and services lists with your skills and write down your new business ideas. Discover business trends and niches by looking at the titles of popular books and websites. Read magazine articles and blogs for inspiration for a business opportunity. Think about ways to make it easier or more convenient to use one or more of these things. List some ways to make them cheaper, faster or smaller. Research your idea to find out if it might fill a market gap or provide an opportunity to meet a need that many people have. Learn how to research your potential market by taking free online courses from the Small Business Administration. Keep all your ideas no matter how silly them seem. Such ideas that can be seen and read on the internet can be common to other ideas but they have also differences on how each person present and discuss their ideas . In making the business I consider the following: 1.business target There is generally a uniform target is “making money ”. How much do you want to make money or how long you will begin to reap the results? This is the most basic and most fundamental thing to be determined at the beginning, at least be a motivation and benchmarks to measure the success of your business. 2. Making Websites and Blogs This is the biggest question for visitors to your website. Front page of your website should be briefly and accurately describes the function of your website so as not to confuse visitors, especially new visitors. 3. Sell Your Products Your should clearly offer your products and of course the product offered is also obvious to the clients. You also need to research the extent to which competition factor for your product on the Internet so you can then determine the appropriate marketing strategy for your business and your product. You should also consider the comfort of your buyers in the payment and other details. 4. Marketing You also must plan for marketing and promotion for your business. Including the growth for your business, through advertising campaigns and promotions, and others. Marketing strategy for the business must be done consistently . It gives me ideas on how to make a succesful business in the future that would surely earn big income and would boost and enhance my skills in producing and building a successful idea in the field of technopreneurship. I am also concern on how that business idea would work and be successful in the coming future. Don't ask yourself what the world needs; ask yourself what makes you come alive. And then go and do that. Because what the world needs is people who have come alive. The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into small manageable tasks, and then starting on the first one and so is the business. I also look forward the risk in making his business idea when it will be implemented. It makes me curious on how this business idea would help me as a student in theb field of my expertise. Different ideas came out into my mind after I red the forum. I am thingking of so many ideas that can be unique than any other business ideas. Candy A. Dowler stress-out in her site some ways on how to come up with great ideas to start your dream business: Great Ideas for a Dream Business Great dream business ideas are built around what you love to do -- instead of what you can do. You want to find an idea that has the potential to create a business where you are ... • using the gifts and talents you excel at • doing what you love • working in the places you love • dealing with the problems, issues and needs you are passionate about • surrounded by the things, people and experiences you love • being handsomely paid to live an extraordinary life Essentially, it is finding your bliss and then building a dream business around it. Where Business Ideas Come From Often ideas come from your personal experience and the way you see the world. Some people have a knack for sensing opportunities. Others are sensitive to things that are missing or not done well. Often, they come from recognizing that you can ... • fulfill a need others have • solve a problem someone cares about • further an issue or cause others are passionate about • take advantage of an opportunity created by a change in circumstances That insight can come from one, or a combination of, the following situations ... • you read an article about a new product or service in another industry or country • you see a TV program that highlights a new technology or manufacturing process • you watch a documentary about a need or problem that you know how to solve • you start thinking about an annoying situation that occurs in your everyday life • you have a conversation and start brainstorming how to do something better • you turn a problem over in your head while taking a shower • you listen to a song and hear a solution in the lyrics • you start surfing the web and notice that the same issue keeps getting your attention When the ideas start flowing, you can start to see the connections between the needs in the marketplace and the work you love to do. This is when you want to have a notebook or idea journal handy, to record all your ideas. Focusing On Dream Business Ideas Another way to start getting ideas is to actively think about the key ingredients of your dream work and ... • Identify how your gifts and talents can be used to create great products and services • Identify the activities you love to do and build the core activities of the business around them • Determine the tools and materials you want to use to create your products or services based on the things you love to work with and have around you • Seek out a customer base that reflects the people you love to be around • Look at how the business can fulfill your need for having great life experiences • Focus your business results on addressing the issues you love to work on, the problemsyou love to solve, and the needs you are passionate about fulfilling in the places you love • Identify what kind of business supports your life calling • Think about what types of businesses are a part of the life you want to live and envision for yourself You don't have to quit what you are doing now, you can also start a business for some extra cash flow. At some point your business may grow enough to consider it a full time occupation. For now, some extra money may provide just what we need. The act of starting or growing a business is a valuable education. Using your own business idea to start your own business will be a less expensive education than attending a brick and mortar college - and you can learn more useful and actionable information. You can also create an income using your entrepreneurial business idea, instead of deferring income while in school. The hardest thing about getting started is getting started. A person that graduates with a business degree and is hired by a corporation has not failed, they have completed a step toward their definition of success. An entrepreneur that shuts down a failed business and then starts a new business has likewise completed a step toward becoming free to live life by their own rules. The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those, which fail.The only types of business knowledge you can't delegate or outsource are (1) knowing your customers intimately, and (2) understanding how cash flows into and out of your business. Your start-up business will have a steep learning curve. Start your first business small and manageable; making your mistakes as inexpensive as possible. Wait to "ramp up" your business until you are sure of your commitment. Then persist. Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time. It will not be easy. This is not a get rich quick scheme, this is business! Your business. We can not ensure success, but we can deserve it. Your chances of success as an entrepreneur increase if the business idea you develop is based on passions that drive you. Create what is for you a natural enterprise and you can make a very good income - while enjoying the journey. If you wish to prosper, let your customer prosper. Your education, training, passions, hobbies, interests, or creative ideas are a great starting point. Since you will be spending time, money, and effort as you struggle toward business success - choose to do something you can do with enthusiasm. Focus on your top two or three passions; the joys of pursuit can help you through rough periods. It is no use saying 'We are doing our best.' You have to succeed in doing what is necessary. Seldom will your business' future growth be determined by what you learned in the past - be prepared to adapt constantly as the rules of engagement change. Your personal liberty will arrive when you solve problems for folks that are willing and able to pay for your product. Perhaps you have been saying "I want to start my own business" for a very long time. Start it now - build it for the next very long time. Listen to what people say they want; try it, and adapt it. The rewards of owning your own life are worth the investments you are about to make. An idea came out into my mind which I think a good investment interms of growing a business. I choose a business that engages with books since I am a book lover and I love to read books. In the present time, many people especially students need a medium in gaining information and entertainment, the books. I've always wanted to have a bookstore, and having one online is so much easier than a bricks and mortar store. However, there are pros and cons in making this business idea. If I will to put a business having enough money as a start-up capital. It is not just an ordinary business taht sells books because it has its differences from the other book related businesses. The smartest move that you can make is to carefully map out an effective career-change strategy. A catch phrase is like bait – it hooks the target clients that they would want to read the whole of your message in your brochure, catalog, print postcards, and even in your bookmarks or hang tags, websites or blogs. And just like any other business, your business needs all the help it can get to be attractive and appealing to your target clients. I call this business as “The BookRoom”. This business offered many features. This business has been design to fill a niche that exists in the market place. I will compile business plans rapidly and efficiently, at a fraction of our competitors' prices, whilst maintaining the highest levels of quality and client service at all times. The key to success once your own business is started is to keep learning. Cultivate your natural abilities and grow with them. The success of this business will be directly influenced by my dedication to continually improving the quality and service in every aspect of the business operation. To multiply small successes is precisely to build one treasure after another. In time one becomes rich without realizing how it has come about. This business is not just through internet but also through personal interaction with the customers which I believe the best way to offer my featured products which are the books. The business offers different kinds of books both new and old books(used books). I would also pursue buy and sell. Example, buy old books which are often use and sell them to other people through online or through face to face. Making Blogs or designing a website for selling the books is one way of selling the books online. The website offers different function such as searching books that are offered and are useful to the website visitors and clients or searching related books that can be use by the customer. Displaying the content of a certain offered book on the website is one of the best way in satisfying a customer who wants to buy a book. The business also offers not just the featured books on my website but they can also contact me in searching book I do not offer in my site but I can search and buy it and sell it to them in a good price. But before buying the book, they need to pay a total of 50 percent of the total price which includes the charges. What kind of clients do I want? This sounds like a silly question at first; obviously I want great clients for my “BookRoom” business. I need to know what kind of clients am I looking. I need to define my target clients for my business if I want to succeed. Before I can set out to launch my “BookRoom” business, I need to identify the market my business can best serve. Since I am planning to lauch a business about books my target clients are usually students who needs more of the books for their studies. Employed and unemployed are also beneficiaries in this “BookRoom” business since they can also use the books. This business offers different kinds of books that can be use anyone of different ages. According to John Ray Daniels in his website named ArticleCube.com he stated 5 ways on how you can add an effective catch phrase that reels your clients in: 1.)KISS it. You have to KISS it – keep it short and simple. A meaningful and compelling catch phrase is something that is brief and quick assurance that the quality of work you provide is the best in the market. A brief and concise message is what you are aiming for because you would want to convey your message right away. The faster your target clients get the message; the quicker it would be for them to act on it. So get your message across as briefly as possible. 2.)Your credentials, please. State your credentials – what you have already done and accomplished, and what your target clients need to know about your company and its experience. You tell them right off the bat. Don’t beat around the bush as you are defeating the purpose of a catch phrase. Statements such as “Serving you since 1908” is one good example of a catch phrase that lets your target clients know how long you have been around in your industry. So make your achievements known. 3.)Keep it light. Use your sense of humor to drive your point. A rhyming catch phrase or a silly statement not only can make it easy for your target clients to see your sense of humor; but it makes it even easier for your target clients to remember your name and your message. So bring a smile to your clients’ hearts and make them take a second look at your message because they would want to be in the joke. 4.)Out of the box. Be creative. Thinking out of the box can go a long way in getting you remembered by your target clients. Try using a catch phrase that is less direct but can catch your target Finally, make yourself clients’ attention – long enough for them to get the point. So showcase your cleverness and imagination with your message. 5.)Your USP. Finally, make yourself a stand out by pointing out your Unique Selling Point. Write a catch phrase that draws your target clients’ attention to any distinct quality that you have to offer. This is something that your competition or any other company in the market doesn’t have. Highlight your USP and let your target customers know you have the ability to give them what the others can’t for a very long time. Although all of this may sound weird, actually it is not. It all boils down to having a very clear vision about what kind of clients I want to target. The more specific that I can get in selecting the group of people that will constitute my main clients, the more successful that you will be with your marketing campaigns. Keep in mind an important rule: Each group must be independently large enough to be profitable. On one hand, I don’t want to be so specific that I limit my clients. If you target a large enough segment while maintaining your focus (look at similarities between different business.), you can then use your marketing tools efficiently and move way ahead of your competitors. http://www.manifestyourpotential.com/work/take_up_life_work/10_dream_business/2_come_up_wtih_great_business_ideas_start_bussiness.htm http://www.ehow.com/how_2058146_create-business-idea.html http://www.articlecube.com/Article/When-You-Need-To-Catch-Clients,-Use-a-Catch-Phrase/1009115