BSMT 3650-81 Developing a Small Business
Fall 2015 / Lindy Boggs 242
Wednesday evenings, 6:00 8:40 p.m.
G. Geoffrey Lutz
I will be available most evenings after class and by prior
We will consider a Target Market to be a well-defined and underserved or undervalued
group of customers for a product or service. The defining characteristics should be
specific and measurable so as to simplify the process of selecting and
In Innovation and Entrepreneurship, Peter Drucker describes the process of innovation
that led to the success of such ventures as the McDonalds hamburger chain. The key
innovation was the application of a new way of thinking about a small busi
Barriers to entry
What keeps new competitors
from coming in to the market?
Leverage of Suppliers
How hard is it to find
a source of supply?
Leverage of Customers
How many, what type?
How easy is it for
$12 a month for Adobe Creative Cloud
$400 for a graphic design laptop, every 3-7 years
$9.99 for 500 Vista Print business cards, every 3-6 months
$50.00 a year for a website through blue host
ABILITIES, RESOURCES, AND PREFERENCES
1. List five specific, measurable skills which you possess.
2. List three certain favorite activities (like running, stamp collecting, whatever)
and describe how long and how intensively you have pursued these interes