AROKA Weekly Takeaways
Three takeaways from next week’s lecture
Three points from this link for next week’s lecture https://www.entrepreneur.com/encyclopedia/human-resources
Three Takeaways from Last Week Lecture
Purchasing power drives prices, which makes price products vary based on locations and stores.
You do not want to let competitors know the secret of your business, they can use it against you
It is okay to have “new entrants” in your line of business. Try their product and reshape yours.
Some marketing strategies for sales are distributor channels, retailers, and websites.
Why should customers be interested in your products?
Make smaller business mistake and learn from it, so you can avoid million dollars mistake.
Focus on target customers, and others will be influenced.
Influence and marketing in business. Writing reviews, blogs, surveys.
Make your business simple. Customers get frustrated if they can’t get what they want easily.
Social media helps to promote product. E.g. Google, Yahoo, Ads, Pinterest, Facebook, etc.
Use other companies to help you compete.
Monitor your products, know where they are in the store, shelf, and visible display spot.
Support other organizations from your profit, like schools, churches, etc.
You have to have marketing continuously moving in order to sustain your business.
Sell business to someone or bring in someone who can take the business to the next level.
Summarize this link and give one takeaway https://www.entrepreneur.com/article/227616
I got 42 points from the last paper. And here is why the paper is not effective enough to earn full credits.
Business News / Article Application = 21 Good discussion about how you might set up a business (though you should revisit the sole proprietorship - you do risk your personal assets and LLC is about taxation on income but does protect against loss). What is a good next step here, though? If you are serious about setting up a business how might you go about applying this information? Meet with a business attorney, go online to do more research, build up your network and learn from others?
Top 3 Take-Aways from Lecture = 21.5 You have good take-aways from the class session - now how might you more directly apply these? Could you do additional research or extend the concept - might you do a little brainstorming around a product you migth offer and perform a high level five forces analysis so that you gain more familiarity with the analysis?
