1 / 25

Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc.

Aa. Alpha Entrepreneur. Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc. Ann Morris Enterprises, Inc. . Innovative Products Dedicated to People with Vision Loss. Stormville, New York.

bathsheba
Download Presentation

Alpha Entrepreneur Case Study 3 Ann Morris Bliss Ann Morris Enterprises, Inc.

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript


  1. Aa Alpha Entrepreneur Alpha Entrepreneur Case Study 3Ann Morris BlissAnn Morris Enterprises, Inc.

  2. Ann Morris Enterprises, Inc. Innovative Products Dedicated to People with Vision Loss Stormville, New York • Led by President Ann Morris BlissDisability: Totally blind Business Started: 1985Mail Order Catalogue3 Employees

  3. Why She Started the Company • - Didn’t like the job she was in- Always wanted to start her own business- Found product idea that there was a need for in the market- Opticon- Developed Opticon to help visually impaired use Opticon device to read printed material more effectively- Developed second product for visually impaired and decided that a catalogue for the products would be a great business

  4. Challenges She Faced Starting the Business • - Computers and software weren’t accessible- Couldn’t read printed media- Could have purchased scanner but wasn’t viewed as efficient- Hired sighted people willing to help her- Used low tech solution to solve high tech problem

  5. What outside resources did she need to make her business successful? • - Sought outside programmer for customized business operations software- Stayed with the software for 13 years because it worked, (i.e. if it ain’t broke, don’t fix it)

  6. How did she finance her business? • - She funded it with her own money, loaning the capital to the company as the company needed it- Paid the loans back with interest

  7. What technology did she need to build the business ? • - Now relies 100% on talking computers- Computerized mailing list key to business - Catalog is written with the computer- All accounting now done with the computer- Uses ‘Braille and Speak’ or “Braille Millenium”

  8. How did she market her business to her customer base? • - Originally tried to rent mailing lists of blind and visually disabled, but none were available for renting…developed her own list from scratch- Built the list through repeat annual visits/exhibits at conventions for blind/visually impaired….word of mouth.- Purchased guide to rehabilitation agencies and sent catalogues- Placed ads in periodicals for blind/visually impaired

  9. How does she deal with the inevitability of “change” in business? • - Where change isn’t necessary, she stays with what works- Internet represents the most change she’s had to deal with- She should always address change in her business plan and how she anticipates/deals with it.

  10. What strategic partnerships play a role in her business? • - Vendors very important, they take her feedback and manufacture new products to meet the market need- Competition also important in that in the blind/visually impaired arena, competitors buy and sell from each other - This “Co-opetition” also prevalent in other disability sector markets also.

  11. What mediums does she use to identify and get to her target demographic market? • - Selling through the conventions to people in person- The catalogue, itself, with large print copies and Braille version- Advertisements in periodicals, web site- Four-track audio cassette for “Talking Book Player” used by Library of Congress

  12. How does she stay ahead of the competition? • - Continually searches out new products, 200-250 per year, monitors their success and takes out what doesn’t work. - Concentrates on the individual consumers rather than marketing through just the rehabilitation agencies that her competitors do- Emphasis on good customer service along with that individual attention

  13. Who was her mentor? • - Husband, biggest support system- Husband/wife teams, where either has disability creates special reliance relationship important to making or breaking a business… this may not be as crucial for spouse teams without disabilities.

  14. What would she have done differently if she did it all over again? • - Would have tried to be more knowledgeable… she would have known what she “didn’t know” before starting- Would have hired more employees initially and delegated earlier - Micro-management can make you ineffective, inefficient

  15. What does she do with the feedback she gets from her customers? • - Cycles 20% of products in 950-product catalog each year, based on customer feed-back- Elimination of products occurs if they don’t sell, customers don’t find them useful after the sale or manufacturer discontinues

  16. How does she address diversification in her product line? What examples? • - She never gave up the original manufacturing capability….developed tone indexer, liquid level indicator…“pour no more”, a light probe, and battery tester. - Others adapt product for her…tactile rivets on a meat thermometer, etc. - She doesn’t rely on others….she leads the diversification process

  17. What was her original business plan? • - She had no formal business plan- Joined network of entrepreneurs to guide her - Business plan was “in her head” and evolved as the business evolved- Business plans are important…she would have worked it out before hand if she could do it again- Learned that being in a commercial location is better than original residential office from a business standpoint

  18. What were the challenges she faced in hiring people? • - Nobody refused to work for her because she was disabled… but many wanted to work for larger company- Employees are so important to disabled entrepreneurs because there is so much you need them to do…they must become a friendand partner-They must be willing to do things such as read to her…a task they wouldn’t be asked to do in other businesses…and if the labor market is tight, its often hard to find people willing to do this

  19. What is her advice to other entrepreneurs with disabilities? • - Learn as much as you can before you start- Be prepared…especially with technology- Get ready to put in many long hours…its inevitable in any small business if you want to be successful - It’s that much more time, if you are an entrepreneur with disabilities

  20. What is her exit strategy? • - In preparation for exit, she plans to continue to grow the business, continue to find new products to sell, etc. - In 10 years perhaps sell the business to another important company so she can retire or do something else - Wants to sell to someone that will maintain the good reputation of the business….looking for the right entity

  21. How is the current downturn in the business cycle affecting her business? • - She’s experienced some slumps but continues to do well because she’s attracted stable customer base- She is in a specialized market, demand remains steady, not an impulse buy. - Many items purchased by funding provided to customer by government…doesn’t see any cutbacks here, growth to remain steady

  22. What are the frustrations she experiences in running a business? • - Needs to know what’s going on at all times to manage employees…this is sometimes difficult with her disability - She relies heavily on her hearing to monitor all parts of the business…phone conversations, employee conversations, even if it means sometimes she hears things she doesn’t want to hear

  23. What innovations did she deploy to help her run her business? • - She custom-designed her commercial warehouse so that she could assist with shipping when necessary - Developed system for carpet placement to help her “feel” where she was at all times- Installed improvements to assist an employee with disabilities - Innovations not necessarily high tech

  24. What business groups helped her in building her business? • - Small Business Administration- SCORE- National organizations for disabilities, advocacy groups- Disability self-reliance doesn’t preclude help from key organizations on the outside

  25. How does one contact Ann Morris Enterrpises? • - Toll-free number 1 (800) 454-3175 - www.annmorris.com

More Related