intro to business

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Introduction to Introduction to BusinessBusiness



Types of BusinessTypes of Business

ServicesServices

ProductProduct

Combination Services and ProductCombination Services and Product



Types of Business - ServiceTypes of Business - Service

CharacteristicsCharacteristics Labor intensive Labor intensive Low capital investmentLow capital investment Pure entrepreneurialismPure entrepreneurialism

Creating something out of Creating something out of nothing…nothing…



Example : ServicesExample : Services

Auto DetailingAuto Detailing Truth: The the more cars you detail, the Truth: The the more cars you detail, the

more money is made! (Labor intensive)more money is made! (Labor intensive) Supplies: A vacuum cleaner, cleaning Supplies: A vacuum cleaner, cleaning

supplies, car polish, some advertising, supplies, car polish, some advertising, maybe a website, business cards (Small maybe a website, business cards (Small relative investment)relative investment)



Types of Business - ProductTypes of Business - Product

Characterized by:Characterized by: High Upfront Capital investmentHigh Upfront Capital investment No limit to the money you can make No limit to the money you can make

governed only by demand not time.governed only by demand not time.



Example: Product BusinessExample: Product Business

Retail Car Accessories shopRetail Car Accessories shop Large Initial business development Large Initial business development

investment in purchasing inventory, display investment in purchasing inventory, display units, floor space….units, floor space….

The more products sold the higher the order The more products sold the higher the order quantity, the lower the cost.(Commodity quantity, the lower the cost.(Commodity nature)nature)

To make more money sell more units (Scales To make more money sell more units (Scales well)well)



Types of Business - CombinationTypes of Business - Combination

Characterized by:Characterized by: Product combined with servicesProduct combined with services Combination increases profit marginCombination increases profit margin



Example: CombinationExample: Combination

Car Accessory Shop that offers detailing.Car Accessory Shop that offers detailing. Maybe start with Auto Detailing business, Maybe start with Auto Detailing business,

which allows you to purchase inventory, your which allows you to purchase inventory, your detailing customers are a ready made market detailing customers are a ready made market for accessories. for accessories.

Combining accessories, with auto detailing Combining accessories, with auto detailing significantly increases profit potential per significantly increases profit potential per customer.customer.



Types of Businesses - SummaryTypes of Businesses - Summary

Businesses fall into 3 categoriesBusinesses fall into 3 categories Services (Most business start here…)Services (Most business start here…) Product ( Most businesses want to be here)Product ( Most businesses want to be here) Highly profitable business end up here:Highly profitable business end up here:

Combination Services and ProductCombination Services and Product



What do you see here?What do you see here?



I see business opportunities…I see business opportunities…Chimney

Sweep

LandscapingLawn Care

Window Cleaning

HousePainting

TreeTrimming

PressureWashing

House Cleaning



What do you see here?What do you see here?



I see business opportunities…I see business opportunities…Garage Storage

Solutions

CarDetailing

CarMechanic

Car Accessories

Car Speciality(Brakes, Mufflers,

Winshield repair etc)

Bicycle Repair



Where do I start?Where do I start?

Business starts with an idea. Ideas for Business starts with an idea. Ideas for business come from looking at:business come from looking at: NeedsNeeds WantsWants DesiresDesires

These are the Foundation of a Business.These are the Foundation of a Business.

intro to business

Business

business opportunities

profitable business

auto detailing business

services combination

services auto detailing

types of businesses

car polish

combination car accessory