Students to Start-Ups Entrepreneurial Skills Workshop Series

1. Students to Start-UpsEntrepreneurial Skills Workshop Series Presents: Finding Your Niche

2. Who or What is SCORE?

3. What is “Students to Start-ups”? Students to Start-Ups • Workshop Series • One-on-One Counseling • Future (web and/or pod casts, CD, etc.)

4. Workshop: Finding Your Niche “How to get and keep customers” By Tom Patty

5. Why Should You Listen to Me? What I learned – 21 Years at Chiat/Day • (Apple)importance of single strong benefit • (Nike)importance of understanding target • (Pepsi-co)importance of growing business • (Yamaha)importance of market segments • (Nissan)importance of purchase process

6. Other Learning • Wolfgang Puck Food Company • World Point (dot com) • Island Side of Life

7. Two Part Process • Workshop / Learn Principles • Counseling/application to your business Principles apply to both Products (Purchased) and Services (Performed)

8. How to create a successful company • Create a product or service that solves a problem or fulfills a need in some market segment. • Identify the specific target audience for whom product or service is most beneficial • Create a compelling benefit statement for this target audience • Using all the tools in marketing toolbox, differentiate from competition • Create awareness for product/service in terms of specific benefit for target audience

9. How to create a successful company (continued) • Continue to provide appropriate information as customers move thru purchase process • Create incentives to make sale • Create incentives to reward customers for repeat business • Using marketing tool box, create ways to grow business (more new customers—more frequency of use)

10. What is Marketing? • Getting and Keeping Customers • Creating Customers

11. Most important marketing reality • Different people • Want different things • For different reasons

12. Marketing Golden Rule • Do unto others • As THEY want to be done unto

13. Why is good marketing so rare? • Marketing requires a different perspective • Think like a customer

14. 6 Things you need to know • Know your market • Know your customer • Know your competition • Know how to grow your business • Know how to use differentiate • Know how to create awareness

15. 1.Know Your Market • What is the size of market? • What are the market segments? • What segments are growing, shrinking? • What is seasonality? • What is the purchase process?

16. I don’t know about it I’ve heard of it Shopping I’ll consider it I’ll buy it SOLD Love it Hate it Owning Neutral Repurchase Purchase Process

17. 2.Know your Customers • Who are they? (Demographics) • Who are they? (Psychographics) • Where are they? • What do they want, what are they buying? • What purchase triggers exist?

18. 3. Know your competition • Who is competition? (direct and indirect) • Where is competition? (domestic or abroad) • What products/services at what price? • How do customers feel about competition? • Strengths and weaknesses

19. 4. Know how to grow your business • How to get more NEW Customers *new products (new concepts) *new distribution (new markets) • How to get more $ from EXISTING customers? *increase frequency of use *increase price

20. 5. Know how to differentiate • How to use Marketing Tool Box Product Price Packaging Place (distribution) Promotion

21. 6. Know how to create awareness • Word of mouth (signage) • Publicity (stunts) • Internet (gorilla marketing) • Direct marketing • Paid media (internet, newspapers, etc)

22. Summary: What you need to know • Know your market • Know your customer • Know your competition • Know how to grow your business • Know how to differentiate • Know how to create awareness

23. Examples of creating a customer • Barnes & Noble • Apple (IPOD) • UPS • Ace • Baja Fresh

24. Additional Resources • Books The Marketing Imagination by Theodore M. Levitt Management: Tasks, Responsibilities, Practices by Peter F. Drucker Crossing the Chasm by Geoffrey A. Moore Inside the Tornado by Geoffrey A. Moore The Innovator’s Dilemma by Clayton M. Christensen

25. Additional Resources • Web SCORE Orange County http://www.score114.org (click on “Business Library” Creating a Competitive Advantage (free online workshop) http://www.va-interactive.com/score/ Researching Your Market http://www.sba.gov/library/pubs/mt-8.pdf Business Toolkit http://www.toolkit.cch.com/BOToC.asp More links at http://www.score.org and www.sba.gov

26. Additional Resources • Small Business Solutions CD from SCORE OC

27. Additional Resources • People UCI Center for Entrepreneurship and Innovation CEI@Merage.uci.edu SCORE Orange County www.score114.org

28. UPCOMING WORKSHOPS February 7th March21st Demystifying Financial Statements Driving Growth Through Distribution Channels and Sales Management February 21st April 4th Sure-Fire Secrets to Entrepreneurial Nuts & Bolts of Business Structure Success and Licensing March 7th April 18th Finding Start-Up Capital Refine Your Unique Value Proposition RSVP CEI@MERAGE.UCI.EDU Students to Start-UpsEntrepreneurial Skills Workshop Series

29. Next Steps • Sign up for future “Student to Start Up” workshops • Decide what specific area of your business (raising money, distribution, marketing, etc) would benefit from counseling • Contact UCI Center for Entrepreneurship and Innovation to arrange no-cost counseling from SCORE

30. Thank You!