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Business Opportunities in Sino-U.S. Entrepreneurship E Business Program. Presented by Prof. Angela Wu, CPA & MBA,. Successful Chinese Start-ups. Three top performed Chinese companies are selected as Web 20 stocks by Business Week: Ctrip Shanda Sina
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Business Opportunities in Sino-U.S. Entrepreneurship E Business Program Presented by Prof. Angela Wu, CPA & MBA,
Successful Chinese Start-ups • Three top performed Chinese companies are selected as Web 20 stocks by Business Week: • Ctrip • Shanda • Sina (based on info/data on September 5, 2005 edition of Business Week)
Billion Dollar Chinese Start-ups • UTStarcom • Sina • Netease • Baidu • Focus Media • Shanda
Entrepreneurship Entrepreneurship is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychic, and social risks, and receiving the resulting rewards of monetary and personal satisfaction and independence.
What it takes: The Wheel of Entrepreneurship Risk Taking Adaptability Ask yourself: How well do you do on each criteria? What can you do to overcome shortcomings? Listening/ Understanding Competitiveness/Drive Confidence/Vision Persuasiveness Discipline/Perseverance Organization Source: Adapted from Co-Active Coaching (Davies-Black Publishing)
Legal Organizational Forms • Sole Proprietorship • Partnership • Corporation • Limited Liability Corporation • http://www.federaltaxid.us/ • http://www.dos.state.ny.us
Financing Your Business Types of financing: • Debt financing: involves an interest bearing instrument, usually a loan. • Short term money is used for working capital. • Long term debt (>1year) is used to purchase assets. • Equity financing: offers the investor some form of ownership. • Internally generated funds: are used most often.
Business Plan Format • Executive Summary • Business Description • Market Analysis • Competitive Analysis • Marketing Strategy • Operational Plan • Organizational & Management Plan • Risks and Mitigation • Timeline/ Action Plan • Long Term Development and Exit Strategy • Financial Information • Exhibits/Appendices
The Pitch How convincing a case can be made for the business idea? • The Opportunity • The Management • The Economics
Marketing Mix Decisions • Product: Quality of components or materials, style, features, options, brand name. • Price: Quality image, list price, quantity, discounts, quick payments credit. • Place: Use of wholesaler and/or retailers, type and number of wholesaler or retailers. • Promotion: Media alternatives, message, media budget, role of personnel selling.