How do economic cycles impact how businesses can implement cost saving strategies such as bootstrapping, bartering, utilizing discount services, leasing equipment, trade credit, and conserving cash?

MT3550 – Entrepreneurship and Small Business Exemplary_professor001

Discussion 3: Competitive Landscape

Must post first.

During this learning plan, you completed an Internet search on your competitors in general and at All Business. Based on the results of your competitor search,  give a recap of your Competitor Profile for your business.

 

Discussion 4

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Exceptional customer service provides your firm with 3 vital ingredients for growth: relationships, reputation, and references.  As relationships build, people will spread your good name and provide you with quality referrals. Research the Internet for your particular business idea on providing customer service as a method of attracting referrals.  Explain ways you can get referrals for your business.

 

Discussion 5: Bootstrapping and Conserving Cash

Must post first.

 

How do economic cycles impact how businesses can implement cost saving strategies such as bootstrapping, bartering, utilizing discount services, leasing equipment, trade credit, and conserving cash? What steps would you take in your business in economic down cycles?

 

Assignment

LP3 Assignment: Competitor Profile

Directions: Who is your competition?

For your business you need to complete a competitor profile. First assess your industry’s NAICS hosted by the North American Industry Classification System.

Start researching your competitors by reviewing Ch. 5, Figure 5.1, Elements of a Competitor Profile. Review Figure 5.4, Sample Competitor Matrix, and complete for your business. Recap the competitor matrix and NAICS for your business in one page.

Submit this assignment to your instructor via the dropbox “LP3 Assignment: Competitor Profile.” This assignment is worth 75 points.

*Note: The research compiled for this assignment will be utilized in a future class. Also, submit your assignment to the Locker. Go to My Home – My Tools – Locker – upload files

 

LP4 Assignment: Design Your Promotional Campaign

Direction: Develop the ideal promotional campaign to connect with your target customers.

If money was not a concern, what would you include in your promotional package based on who you have identified as your target customer? In a one to two page paper design your promotional campaign, including any constraints you may have to deal with.

Be sure to review the Small Business Administration’s SBA website on marketing a new business.

Submit this assignment to your instructor via the dropbox “LP4 Assignment: Design Your Promotional Campaign.” This assignment is worth 75 points.

*Note: The research compiled for this assignment will be utilized in a future class. Also, submit your assignment to the Locker. Go to My Home – My Tools – Locker – upload files.

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