Wednesday's guest speaker, Ron Cornfeld, (hopefully spelled correctly) was a great insight into the basic fundamentals that are needed to make up a business plan, and why business plans are so crucial to running an efficient and cohesive business. He was a great choice considering he built a business around helping businesses in early development stages with their business plans. Mr. Cormfeld did an excellent job in answering questions and providing alternatives, both scenarios and answers. Since no two businesses are exactly alike that was a great help in focusing in on the differing business ideas that each classmate has.
I found the concept that any brilliant business plan could be tweeted (presented in under 140 characters or less) to be very intriguing. People as a whole seem to be very much a sell me in as little time as possible. That way we can get on with business or life depending on what kind of business is being sold. Take the now obsolete vaccum salesperson who went door to door trying to sell thier product. He or she had a short window of opportunity, if one at all to sell to the more often than not, busy homeowner. So the salesperson swears by his or her product dumps a pile of dirt on the floor and then commences sucking it up with their "amazing suck'omatic" vaccum cleaner. Well the window of opportunity is only gained through that brief "tweet" of what the product is, does, and how it is superior to all other models, we'll mention price later. So the case is not much different when presenting a business plan to investors, possible employees, partners, just about anyone with a possible or current stake in the outcome of the business. No the hard part is figuring out how to make your idea 140 characters or less.
Sunday, January 24, 2010
Tuesday, January 19, 2010
Five Business Ideas
Here are a few of my business ideas: Although I knew we weren't supposed to create a restaurant business plan I couldn't help but take a stab at creating a bakery and confectionery. The overall difference and what would set this business plan apart from others is incorporating a recent food trend resurgence. The coin operated diner, of course it would be a coin operated bakery with choices ranging from full cakes, pies and all sorts of confectionery items, as well as single servings as well, these could also be wrapped with ribbons and bows.
The second idea is a still in the naming-process part, but would consist of a mp3, phone, camera, electronic reader, TV, 3G, email, does everything that we have gadgets for just all in one. I got the idea for this after talking with my father just recently after Amazon announced its release of the highly anticipated Kindle. My father stated he just wanted a tablet that does everything. No more carrying around five gadgets when you could have one convenient device with them all!
A third idea was selling pottery that I personally create. This idea came to me during the rocking chair story. During high school I took a pottery class and fell in love with throwing pots on the wheel. I gave one as a gift to a fairly prominent business friend of my mother. He told me that if I could produce one hundred of my bowls a week Pottery Barn would likely buy and sell my pottery. At the ripe old age of 15 this sounded like the job for me but my mother had other ideas. This business project could help develop this plan should I ever decide to go back to pottery.
My fourth idea was a animal boarding facility, I own three cats and two dogs, and have been around other animals my whole life, so working with animals would be something I would thoroughly enjoy.
The fifth idea came to me from my love of travel. I have only been outside the country twice however both times left wonderful experiences that I would love to relive, so this brought about two ideas one being a travel agency, but since I don't fancy sitting behind a desk while others go and experience what I would much rather be doing, I thought more about giving tours myself.
I tried to draw business ideas from the activities and hobbies that I love since that's what being an entrepreneur is all about doing what you love.
The second idea is a still in the naming-process part, but would consist of a mp3, phone, camera, electronic reader, TV, 3G, email, does everything that we have gadgets for just all in one. I got the idea for this after talking with my father just recently after Amazon announced its release of the highly anticipated Kindle. My father stated he just wanted a tablet that does everything. No more carrying around five gadgets when you could have one convenient device with them all!
A third idea was selling pottery that I personally create. This idea came to me during the rocking chair story. During high school I took a pottery class and fell in love with throwing pots on the wheel. I gave one as a gift to a fairly prominent business friend of my mother. He told me that if I could produce one hundred of my bowls a week Pottery Barn would likely buy and sell my pottery. At the ripe old age of 15 this sounded like the job for me but my mother had other ideas. This business project could help develop this plan should I ever decide to go back to pottery.
My fourth idea was a animal boarding facility, I own three cats and two dogs, and have been around other animals my whole life, so working with animals would be something I would thoroughly enjoy.
The fifth idea came to me from my love of travel. I have only been outside the country twice however both times left wonderful experiences that I would love to relive, so this brought about two ideas one being a travel agency, but since I don't fancy sitting behind a desk while others go and experience what I would much rather be doing, I thought more about giving tours myself.
I tried to draw business ideas from the activities and hobbies that I love since that's what being an entrepreneur is all about doing what you love.
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