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I. Introduction
A. Attention Getter: According to a study done in 2015 by Forbes, 69% of entrepreneurs succeed in ether turning a profit or breaking even. B. Reason to Listen: The tips and techniques you hear in this speech can help you someday to be successful in business and possibly even as an entrepreneur. C. Thesis Statement: with the right amount of planning and research anyone at any age can be successful entrepreneur TERM 2
2. Credibility Statement:
DEFINITION 2
1. Im currently working on trying to start my software
company Mattic Tech2. Ive worked with many other
successful business owners in the past giving me real-world
insight on the inner workings of the entrepreneur process
mindset
TERM 3
3. Preview of Main Points:
DEFINITION 3
1. First, I will discuss what entrepreneurship is and what
some things to consider are. 2. Second, I will discuss the
steps that one should take their trying to be a successful
entrepreneur. 3. Lastly, I will discuss how to be a successful
entrepreneur during the duration of your time in business.
TERM 4
4.A, Being an entrepreneur is about preparing
yourself so you can prepare your business
DEFINITION 4 a. What would happen if I fail, this is an important possibility that one must seriously consider. It takes money to make money and if the company fails the money that I invested, can I live without it. Its also important to consider the amount of time invested on starting a company and handling the various aspects that are involved take time to complete, so would you be comfortable TERM 5
4.A, Con't 1
DEFINITION 5
b. What would happen if I succeed? You may be thinking this
is a silly question to ask yourself but it can be an excellent
form of motivation and guide to show you what steps you
need to take to become successful.
4.A, Con't 2
c. What if I do not try, this is a question that someone may not think to ask but; if you think about it, it can lead to some very interesting realizations. Let us say you come up with a product idea you decide not to try to run with it for one reason or another, 1 year down the line you come to find out that someone else had this idea shortly after you but have brought in 1,000,000 in their first 6 months of operation. Scary right, this thought can help keep you moving towards your goal as quickly as possible, and provide you with the drive to accomplish things so you dont miss out on this possibly profitable opportunity. TERM 7
4.B, To make sure you are not conceptually
stuck later on you should ask yourself a
couple key questions.
DEFINITION 7
a. By determining an end goal, you are more likely to reach it
and you will have a clear mindset on what needs
accomplished.you should plan to base your business solely
around this product.
TERM 8
4.B, Con't 1
DEFINITION 8
b. You should also have a clear product or service in mind,
allowing you to build your business around this idea. This
does not mean you must come up with a product right away
but rather it just means that
TERM 9
4.B, Con't 2
DEFINITION 9
c. It is important when starting a business one must think
about what is possible to happen with the resources you
have to put towards the company or product
TERM 10
Transition 1
DEFINITION 10
Now that you have been properly prepared to be an
entrepreneur by answering the tough questions, you can
now start putting these into practice to be successful
5.B, con't 2
c. To see how this all plays out here is an example, you are trying to sell life alert. You know that the products are geared towards senior citizens, thus you advertise during the day because they are retired and go to bed early. You also find several polls on which programs they watch more and choose those stations to hold a commercial. With the minimal information we were able to figure when where and how to advertise showing that this can have a powerful effect on how this is just so useful. TERM 17
5.C, Now we have an idea and we have
potential consumer data, it is now time to
combine and apply these in the form of
advertising.
DEFINITION 17
a. Advertising can sometimes be the difference of having the
best-known product vs the best never heard of product.
Advertising can allow you to get creative and give all your
potential consumers a taste and understanding of why your
product is better than all the other products in the same field.
TERM 18
5.C, con't 1
DEFINITION 18 b. We spent all that time collecting the data, let us actually apply it and create an aggressive effective campaign to get the word out there and allow t it to spread like wild fire after a drought. As mentioned in the life alert example, when advertising look for who, when, what, and how and you will almost be guaranteed if the research is correct you will have a very effective campaign. TERM 19
5.C, con't 2
DEFINITION 19
c. When it comes to advertising more expensive is not
necessarily better. You should look for ways in which you
cannot go into debt trying to find a way to get the word out
there. It differs from product to product but in many cases,
there are ways to advertise for free which can be a good way
to start if you are pinched for funds.
TERM 20
Transition 2
DEFINITION 20
We have done all the hard work on our own and now it is
time to make it easy when we bring our staff and or partners
on to help us out.
6.A, Creating a business plan is key for
making sure everyone in the company is
unified and seamlessly has a clear
understanding of what the goals are.
a. You should first start it with a Company summary on what the business and products are.b. Then, Include all of the customer research you have gathered on you target audience.c. Remember to include chain of command and what each persons responsibilities are.d. Its also wise to describe product or service in great detaile. Outline how additional capital would be used if you were to be talking to an investor. TERM 22
6.B, After a while, consumers are going to
ether already have bought your product or
will be bored with it and looking for the next
big thing so it is imperative to keep the
company running past the first iteration of
your product or service you must keep
customers coming back for seconds.
DEFINITION 22
a. This can be seen in all sorts of products, from cars, to
video games, to even light bulbs. Even though all these
products are different, they still need to continue making
money, so companies set aside a portion of the products
profits so they can use that money to go and start creating
the next version of the product.
TERM 23
6.B, Con't 1
DEFINITION 23 b. But you may be wonder how to keep consumers coming back for more, The way large companies handle this is by ether making you need to continual purchase replacements or they make the customer want to buy the latest and greatest. An interesting example of this the light bulb. The first light bulb lasted 20 years before burning out and needing replaced, companies realized this wasnt good for business so they agreed to use weaker materials so theyd onlylast a couple of months which raised annual profit intake by 425%. TERM 24
6.C, Just as it is important to connect with
peers in the real world, the same goes for
business and professionals in the business
world.
DEFINITION 24 These people can often have wisdom or insight into things that you might, or are facing currently. It would be wise to learn from them where possible so as to know what to do when you are presented with the same situation in the future.b. Its not just a one way street ether, let them learn from what you have accomplished, which can lead to valuable friendships and a sense of mutual trust TERM 25
6.D, Make something memorable is a long-
term goal you should have, so when people
talk about your products it is something
positive and makes them want to share their
experience with others.
DEFINITION 25
a. By building your brand and reputation, it will act as a
causality for your companies memorableness.
