Business 095 – 4 credits Tuesdays - 5pm-8:40pm KCI building, Room 4006 Ben Dubin ben@dubin.com Mobile number: 408-621-0170 – Text me or call me. Leave a message I don’t answer and I will get back to you. Don’t forget to tell me who you are in your text) Ben Dubin – Foothill College – Business 95 - 2015©. 1 Late registration accepted with instructor's add code/signature. Sept 21 – Oct 2 Deadline varies for each course. Generally, the deadline is Friday of the second week for 12-week classes (October 11). Each class may be different. To verify the exact date for your classes, access your MyPortal.fhda.edu account. Oct 16 Deadline to file a pass/no pass option. You can complete the pass/no pass option online before the term begins. Once the term has started, you must submit your completed Pass/No Pass Form to the Admissions & Records Office. To download the Pass/No Pass Form, log into your MyPortal.fhda.edu account. Nov 9 Veterans day observed Nov 26-29 Thanksgiving! Dec 8-11 Finals week June 22-26 Final Exam week 2 Ben Dubin – Foothill College – Business 95 - 2015©. Creating, managing and profiting from a small business. For potential or present entrepreneurs. Emphasis on organization and operation of a small business, including problems of raising capital, establishing an effective marketing plan, and directing and motivating employees Developing a REAL business idea Presenting a Business Idea Participating in the Annual Foothill College Business Idea contest! Ben Dubin – Foothill College – Business 95 - 2015©. 3 Sept 22 (Today!) General introduction to the class, teacher and students Discussion of requirements, text books, sample business article review, business plan, class calendar Slides presented on the Dynamic Role of Small Business Mystery Entrepreneur Check Blog for additional readings and assignments Sept 29 Slides presented on the How to Market Goods and Services for your business Sample Business article analysis Mystery Entrepreneur Check blog for additional readings & assignments Ben Dubin – Foothill College – Business 95 - 2015©. 4 http://bus95.blogspot.com All files from class will be there along with some interesting required readings 5 Ben Dubin – Foothill College – Business 95 - 2015©. Late Add & Drop: There's Still Time to Register for the class It's easy to add a Spring Quarter class. You can add courses via myportal.fhda.edu through April 17 with an add code from me!. And - I have plenty of Add Codes!!! 6 Ben Dubin – Foothill College – Business 95 - 2015©. Aquarius Born February 8th 7 Ben Dubin – Foothill College – Business 95 - 2015©. The College Board reports the average cost for books and supplies for the 2012– 2013 school year was $1,168 at public colleges 82% increase in the just the past 10 years Most textbooks are partially read or used Resale value is text books drops as new editions are released Ben Dubin – Foothill College – Business 95 - 2015©. 8 Wake We up – this is 2015!!!! are also in Silicon Valley! We are going to use the Internet instead of a textbook! Cost = $0*!!! Ben Dubin – Foothill College – Business 95 - 2015©. 9 I will send you and post to the blog relevant things to read The articles will be from a variety of sources and current topics too We will discuss these in class and they will also be on the quizzes and tests We are going to use the Internet instead of a textbook! Ben Dubin – Foothill College – Business 95 - 2015©. 10 * The book I used to want you to use… Ben Dubin – Foothill College – Business 95 - 2015©. 11 $11.99 Kindle edition, $17.59 hardcover, used from about $8 via - Amazon Ben Dubin – Foothill College – Business 95 - 2015©. 12 Reid Hoffman Ben Dubin – Foothill College – Business 95 - 2015©. 13 First assignment: • I want everyone in the class to register for LinkedIn • www.linkedin.com • And then connect with me on LinkedIn Ben Dubin – Foothill College – Business 95 - 2015©. 14 Here are some quotes from the book that I think are relevant to entrepreneurship and this class…. Ben Dubin – Foothill College – Business 95 - 2015©. 15 1. “All humans are entrepreneurs not because they should start companies but because the will to create is encoded in human DNA.” Ben Dubin – Foothill College – Business 95 - 2015©. 16 2. “Entrepreneurship is a life idea, not a strictly business one; a global idea, not a strictly American one.” Ben Dubin – Foothill College – Business 95 - 2015©. 17 3. “Before dreaming about the future or marking plans, you need to articulate what you already have going for you – as entrepreneurs do.” Ben Dubin – Foothill College – Business 95 - 2015©. 18 4. “When you’re doing work you care about, you are able to work harder and better.” Ben Dubin – Foothill College – Business 95 - 2015©. 19 5. “You remake yourself as you grow and as the world changes. Your identity doesn’t get found. It emerges.” Ben Dubin – Foothill College – Business 95 - 2015©. 20 6. “Whatever the situation, actions, not plans, generate lessons that help you test your hypotheses against reality.” Ben Dubin – Foothill College – Business 95 - 2015©. 21 7. “No matter how brilliant your mind or strategy, if you’re playing a solo game, you’ll always lose out to a team.” Ben Dubin – Foothill College – Business 95 - 2015©. 22 8. “The fastest way to change yourself is to hang out with people who are already the way you want to be.” Ben Dubin – Foothill College – Business 95 - 2015©. 23 9. “If you want to build a strong network that will help you move ahead in your career, it’s vital to first take stock of the connections you already have.” Ben Dubin – Foothill College – Business 95 - 2015©. 24 10. “What will get you somewhere is being able to access the information you need, when you need it.” Ben Dubin – Foothill College – Business 95 - 2015©. 25 At Amazon - $14.64 new, $11.99 Kindle, about $8 used…… Ben Dubin – Foothill College – Business 95 - 2015©. 26 Call them up Text them your info You Whatsapp them Post on their Facebook wall You Snapchat them Tweet them Or….. Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. 28 Can’t always get the classes you need Can’t always get awesome teachers It is a big hill to walk up to get to class Well, I know what it is like….. Ben Dubin – Foothill College – Business 95 - 2015©. Text them your info Post on their Facebook wall Call them up Tweet them Or….. Ben Dubin – Foothill College – Business 95 - 2015©. 6th year of the contest Prizes – past years $5000 for first place, $3000 second and $1000 third. Learn a lot Get exposure to investors, teachers, press You can win! Ben Dubin – Foothill College – Business 95 - 2015©. Deadline to turn in a business Ideas is will be in March (est) Finals will be held in April 2014 Prizes! ($$$) Foothill Entrepreneur Center in the KCI! http://www.fhfec.com/ Ben Dubin – Foothill College – Business 95 - 2015©. One of the past winners – http://abclocal.go.com/kgo/stor y?section=news/business&id=81 14675 Ben Dubin – Foothill College – Business 95 - 2015©. What is a Business???????? A business is a legally recognized organization designed to provide goods and/or services to consumers, governments or other businesses. Ben Dubin – Foothill College – Business 95 - 2015©. 34 A business needs many things to operate, but above all, what does it need most? A business needs a market. Ben Dubin – Foothill College – Business 95 - 2015©. 35 What is a market??? Ben Dubin – Foothill College – Business 95 - 2015©. 36 Someone to BUY your stuff, service, etc. Ben Dubin – Foothill College – Business 95 - 2015©. 37 Consumer A consumer is an essential part of a business. Ben Dubin – Foothill College – Business 95 - 2015©. 38 Businesses are predominant in capitalist economies, most being privately owned and formed to earn profit to increase the wealth of owners. Ben Dubin – Foothill College – Business 95 - 2015©. 39 The owners and operators of a business have as one of their main objectives the receipt or generation of a financial return in exchange for work and acceptance of risk. i.e. To make money Ben Dubin – Foothill College – Business 95 - 2015©. 40 What do we call someone that starts a business or creates new things? 41 Ben Dubin – Foothill College – Business 95 - 2015©. Entriprenur Entraprenur Entreprenur Entrapreneur Entrepreneur Entriprineur Entrepraner Entrapner A crazy person! 42 Ben Dubin – Foothill College – Business 95 - 2015©. Entrepreneur 43 Ben Dubin – Foothill College – Business 95 - 2015©. entrepreneur /ontr pr nör/ • noun a person who sets up a business or businesses. — DERIVATIVES entrepreneurial /ontr pr nöri l, -nyoori l/ adjective entrepreneurialism noun entrepreneurially adverb entrepreneurism noun. — ORIGIN French, from entreprendre ‘undertake’. Date: 1852 Ben Dubin – Foothill College – Business 95 - 2015©. 44 House OKs small biz $42 Billion jobs bill The idea is that community banks do the lion's share of lending to small businesses, and pumping capital into them will get money in the hands of Main Street businesses. Help for start-ups: Currently, entrepreneurs can deduct up to $5,000 in start-up expenses. That amount is reduced by the amount that the start-up's expenses exceed $50,000. The bill would increase the deduction to $10,000 for 2010, and the deduction would be reduced by the amount that an entrepreneur exceeds $60,000 100% exclusion of capital gains: The bill would eliminate capital gains taxes on investments in qualifying small businesses Ben Dubin – Foothill College – Business 95 - 2015©. 45 23 Million Employment • 75% Of New Jobs • 50% Of Private Employment • 99% Of Employers 97% Of Exporters Ben Dubin – Foothill College – Business 95 - 2015©. 46 Firms with 1 to 4 employees 2,777,680 Firms with 5 to 9 employees 1,043,448 Firms with 10 to 19 employees 632,682 Firms with 20 to 99 employees 526,355 Firms with 100 to 499 employees 86,538 Firms with 500 employees or more 17,047 Firms with 500 to 749 employees 5,695 Firms with 750 to 999 employees 2,709 Firms with 1,000 to 1,499 employees 2,828 Firms with 1,500 to 2,499 employees 2,281 Firms with 2,500 employees or more 3,534 Firms with 2,500 to 4,999 employees 1,739 Firms with 5,000 to 9,999 employees 905 Firms with 10,000 employees or more 890 5,083,750 companies with 500 less 20,581 companies with 501 employees or more Ben Dubin – Foothill College – Business 95 - 2015©. 47 Why? Ben Dubin – Foothill College – Business 95 - 2015©. 48 Ben Dubin – Foothill College – Business 95 - 2015©. 49 Ben Dubin – Foothill College – Business 95 - 2015©. 50 Ben Dubin – Foothill College – Business 95 - 2015©. 51 Ben Dubin – Foothill College – Business 95 - 2015©. 52 Ben Dubin – Foothill College – Business 95 - 2015©. 53 Before After Ben Dubin – Foothill College – Business 95 - 2015©. 54 Ben Dubin – Foothill College – Business 95 - 2015©. 55 Ben Dubin – Foothill College – Business 95 - 2015©. 56 Revenue = $93.580 billion Net income = $12.193 billion Market Cap = $354.65 billion 118,000 employees (ending 6-30-15) (today) (6/30/2015 data) Ben Dubin – Foothill College – Business 95 - 2015©. 57 Revenue per employee • $793,050 Net Income per employee • $103,330 Ben Dubin – Foothill College – Business 95 - 2015©. 58 793,130,944 Ben Dubin – Foothill College – Business 95 - 2015©. 59 43.90 Ben Dubin – Foothill College – Business 95 - 2015©. 60 $43.90 = share price for Microsoft today Ben Dubin – Foothill College – Business 95 - 2015©. 61 A share price is the price of a single share of a number of saleable stocks of a company. Once the stock is purchased, the owner becomes a shareholder of the company that issued the share. Ben Dubin – Foothill College – Business 95 - 2015©. 62 793,130,944 Ben Dubin – Foothill College – Business 95 - 2015©. 63 34818448442 Ben Dubin – Foothill College – Business 95 - 2015©. 64 $34818448442 Ben Dubin – Foothill College – Business 95 - 2015©. 65 $34,818,448,442 About $35 billon dollars Ben Dubin – Foothill College – Business 95 - 2015©. 66 • In September 2013 = • $ 25,784,686,989 Ben Dubin – Foothill College – Business 95 - 2015©. 67 $34,818,448,442 = the dollar value today of Bill Gates’ holdings in Microsoft Ben Dubin – Foothill College – Business 95 - 2015©. 68 • 968,779 Ben Dubin – Foothill College – Business 95 - 2015©. 69 • $968,779 Ben Dubin – Foothill College – Business 95 - 2015©. 70 • $968,779 = it WAS Bill Gates’ salary • By the way…. • …Today it is $0 Ben Dubin – Foothill College – Business 95 - 2015©. 71 Last March the stock was $27.65, this afternoon it was $43.90 = $16.25 positive change Ben Dubin – Foothill College – Business 95 - 2015©. 72 $16.25 change So what? Ben Dubin – Foothill College – Business 95 - 2015©. 73 That is… 4 Big Macs! Ben Dubin – Foothill College – Business 95 - 2015©. 74 That is also a $12,888,377.840 change to Bill Gates! Ben Dubin – Foothill College – Business 95 - 2015©. 75 So, just for the record, this Bill Gates also owns other stocks/investments too… Ben Dubin – Foothill College – Business 95 - 2015©. 76 And he gives away some money to charities too… Ben Dubin – Foothill College – Business 95 - 2015©. 77 A lot of money to charities… …Like all of it! Ben Dubin – Foothill College – Business 95 - 2015©. 78 Especially his favorite charity… The Bill and Melinda Gates Foundation Ben Dubin – Foothill College – Business 95 - 2015©. 79 Ben Dubin – Foothill College – Business 95 - 2015©. 80 Especially his favorite charity… The Bill and Melinda Gates Foundation Ben Dubin – Foothill College – Business 95 - 2015©. 81 He has already given $38 billion to the foundation!!! Ben Dubin – Foothill College – Business 95 - 2015©. 82 By the way, it is good to have friends in life too…. Ben Dubin – Foothill College – Business 95 - 2015©. 83 When his good friend gives his money, the foundation dollars will DOUBLE!!! Ben Dubin – Foothill College – Business 95 - 2015©. 84 The foundation will have over $80 billion!!!!!!! Ben Dubin – Foothill College – Business 95 - 2015©. 85 But he still has a lot of money… Ben Dubin – Foothill College – Business 95 - 2015©. 86 He has had the title as the riches person in the world for 15 of the last 20 years Ben Dubin – Foothill College – Business 95 - 2015©. 87 As of March 2014 Bill Gates as a net worth of $76 billion! On top of his Foundation money Ben Dubin – Foothill College – Business 95 - 2015©. 88 By the way, that is $18 billion more than a year ago! Ben Dubin – Foothill College – Business 95 - 2015©. 89 Oh, by the way, like all of us… he did have his bad side…. Ben Dubin – Foothill College – Business 95 - 2015©. 90 Ben Dubin – Foothill College – Business 95 - 2015©. 91 Bill Gates was arrested on reckless driving charges on December 13, 1977 for a second time in New Mexico after speeding in his Porsche, running a stop sign and driving without a license. Ben Dubin – Foothill College – Business 95 - 2015©. 92 Ben Dubin – Foothill College – Business 95 - 2015©. 93 Ben Dubin – Foothill College – Business 95 - 2015©. 94 Ben Dubin – Foothill College – Business 95 - 2015©. 95 Male- 1.9 Men Per Woman Ethnically Diverse 25-34 Specialty Expertise $100 B For 3.5 M Startup/Small Businesses Rim Light/PhotoLink/Getty Images Ben Dubin – Foothill College – Business 95 - 2015©. 96 Courses • 20 Years Ago- None • Now- Hundreds (Business 95!!!) Ages 13-18 = Positive Potential Business Career • Males = 13% • Females = 10% Ben Dubin – Foothill College – Business 95 - 2015©. 97 Increased Investor Interest Executives Taking Early Retirement 55% Want To Be Own Boss Technological Advances People need jobs – make one yourself Ben Dubin – Foothill College – Business 95 - 2015©. 98 Independent Management Capital/Ownership = Few Individuals Operations Are Local Business = Small But Competitors = Large Ben Dubin – Foothill College – Business 95 - 2015©. 99 SBA - Small Business Administration “…a small business is one that is independently owned and operated and is not dominant in its 10 field of operation.” Ben Dubin – Foothill College – Business 95 - 2015©. 0 <20 Employees Very Small 20 - 99 Small 100 – 499 Medium 500 Or More Large Ben Dubin – Foothill College – Business 95 - 2015©. 101 Sales & Distribution 10% Arts/Design Creative 13% Persona l Svcs. 14% Financial & Real Estate 5% Bldg. Trades 31% Bus. Services 27% Source: Independent Insurance Agents of America Ben Dubin – Foothill College – Business 95 - 2015©. 10 2 Encourage Innovation & Close Relationship With Flexibility Customers/Community Force Large Firms To Be Competitive Provide Employees Learning Experience Develop Risk Takers New Employment Greater Employee Job Satisfaction Ben Dubin – Foothill College – Business 95 - 2015©. 10 3 Recession/Current Economy Retirement/Transition Capital/Financing Unexpected Growth Succession Inadequate Financing Inadequate Management Government Regulations/Paperwork Royalty-Free/CORBIS Ben Dubin – Foothill College – Business 95 - 2015©. 10 4 Exploding Technology Occupational/Industry Shifts • Reinvention • Reengineered • Downsizing/Rightsizing Global Chad Baker/Ryan McVay/Getty Images Ben Dubin – Foothill College – Business 95 - 2015©. 10 5 8% 10% Independence 10% Control Satisfaction 72% Other Ben Dubin – Foothill College – Business 95 - 2015©. 106 13% 25% Long Hours Taxes 19% Risk Responsibility 19% 24% Other Ben Dubin – Foothill College – Business 95 - 2015©. 107 Achieve Independence Additional Help Income Families Products Not Available Ryan McVay/Getty Images Ben Dubin – Foothill College – Business 95 - 2015©. 10 8 Passion Not Money Something You Know Patience Mentor Funding Cash Manager Build Sales Don’t Rush Wary Of Bad Advice/Suppliers Ben Dubin – Foothill College – Business 95 - 2015©. 10 9 Service Profit Social Growth Mesh Objectives Nick Rowe/Getty Images Ben Dubin – Foothill College – Business 95 - 2015©. 11 0 + Desire Independence + Strong Sense Of Initiative + Personal/Family Motivation + Quick/Concrete Results + Able To React Quickly + Dedicated To Business + Enter Business By Chance And/Or Design Ben Dubin – Foothill College – Business 95 - 2015©. 11 1 Adequate Market Sufficient Capital Recruit Effectively Timely Information Cope With Gov’t Regs. Expertise Flexible Ryan McVay/Getty Images Ben Dubin – Foothill College – Business 95 - 2015©. 11 2 Career Counseling Catering Computer & Office Machine Repair Day Care Education Financial Planning Home Health Marketing Senior Fitness & Recreation Specialized Delivery ANYTHING! Ben Dubin – Foothill College – Business 95 - 2015©. 11 3 1) Identify Need 2) Study Market 3) Start, Buy Existing Or Franchise 4) Set Mission, Objectives, Strategies 5) Make Operational Plans 6) Make Financial Plans 7) Develop Business Plan 8) Implement Plan Ben Dubin – Foothill College – Business 95 - 2015©. 11 4 No “right” type! Be adaptable, flexible Be able to take advice Take reasonable risks Creative, imaginative – have a dream or vision of what the company can be Committed Ben Dubin – Foothill College – Business 95 - 2015©. 11 5 Relevant skills are good to have Hybrid skills are great to have Business knowledge is important Ability to sell Know what you know and more importantly know what you don’t know Solving ability Ben Dubin – Foothill College – Business 95 - 2015©. 11 6 Passion Hobbies/Recreation Talk To People Observe/Study & Luck PhotoLink/Getty Images Ben Dubin – Foothill College – Business 95 - 2015©. 11 7 How much capital is required to enter and compete in this business sector? How long will it take to recoup my investment? How long will it take to reach an acceptable level of income? How will I get by until that point? What if it fails? What degree is risk is involved? Am I willing to take this risk? What is the level of work required to make it successful? Am I willing to put in this much work? Do I want to acquire a franchise from an established company or start my own? What is the potential of this type of business? Is this something I would enjoy? Ben Dubin – Foothill College – Business 95 - 2015©. 11 8 Market Research = Potential Location/Segment Being Satisfied? Select 1 Market Segment Or 1 Product Limited Resources = Limited Options = Focus Ben Dubin – Foothill College – Business 95 - 2015©. 11 9 Industry Size? Where Is Market? How Large Is Market? Identify Target Market & Size? Size & Distribution Of Population? Sales = Growing, Stable, Declining? Competitors = Successful? Industry Technology? Your Share? Ben Dubin – Foothill College – Business 95 - 2015©. 12 0 Each week I’ll present a mystery founder or company. This will be a company that all of us have heard of and many of us are actual customers of the company Looking at how a company starts is often interesting Ben Dubin – Foothill College – Business 95 - 2015©. ? Ben Dubin – Foothill College – Business 95 - 2015©. The company was started in 1963 Ben Dubin – Foothill College – Business 95 - 2015©. So a long, long time ago The year I was born! Ben Dubin – Foothill College – Business 95 - 2015©. Like most companies, this one needed money to get off the ground Ben Dubin – Foothill College – Business 95 - 2015©. The founder and co-founder each put in $500 to get the company going $1000! Ben Dubin – Foothill College – Business 95 - 2015©. By the way… Companies need names Ben Dubin – Foothill College – Business 95 - 2015©. We have all seen great names: Google Google has become one of the most famous names of all time. It is based on a word, googol, which has real-world meaning Ben Dubin – Foothill College – Business 95 - 2015©. Under Armour Because it describes what it does: protect you, it also evokes positive mental images of the benefit that it will provide the consumer. It is such a good name that even its competitors' products are being called "Under Armour" much in the way photo copies are called 'Xeroxes,' gelatin is called 'Jello,' and tissues are called 'Kleenex.‘ Ben Dubin – Foothill College – Business 95 - 2015©. JiffyLube If the company name tells what a company does, then you've already started the marketing process in a big way. JiffyLube does that perfectly -- the name tells me that they provide fast oil changes for your car. Ben Dubin – Foothill College – Business 95 - 2015©. Then some not so great names… Ben Dubin – Foothill College – Business 95 - 2015©. A Pane In The Glass Beauty & The Beach Buy & Large Drain Surgeons Fuk Hing Int. Development Co, LTD Hell On Reels Productions Get Crabs Here Get Plastered Meat on the Beach Royal Flush Cesspool Sewer & Drain Cleaning T's Me That's The Spirit Wines & Liquors The Stalk Market Wine Not You Bed Your Life Ben Dubin – Foothill College – Business 95 - 2015©. Getting back to our mystery entrepreneur…. Ben Dubin – Foothill College – Business 95 - 2015©. The original name of the company was Blue Ribbon Ben Dubin – Foothill College – Business 95 - 2015©. No, not Pabst Blue Ribbon Beer Ben Dubin – Foothill College – Business 95 - 2015©. Oh, by the way…. In 1973 the company changed their name Ben Dubin – Foothill College – Business 95 - 2015©. Being super smart college people They chose the name of a Greek goddess Ben Dubin – Foothill College – Business 95 - 2015©. The company did just okay It was not an instant success but they did okay, in 1965 the company made $20,000 in sales And a profit of $3,240 (Remember, Microsoft made $18,760,000,000 last year) Ben Dubin – Foothill College – Business 95 - 2015©. Like all cool companies, they needed a logo. So that decided to hire an artist to create one. Not having a lot of money that hired a student, they paid her $35 to make the logo (after all, it took her 17.5 hours to make it) Ben Dubin – Foothill College – Business 95 - 2015©. Our founder was very creative They used a kitchen appliance to help design their first big product Ben Dubin – Foothill College – Business 95 - 2015©. No, this is not a super tech company in Silicon Valley The company is still based in Oregon, where it was originally started Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. 14 2 Ben Dubin – Foothill College – Business 95 - 2015©. 14 3 Phil Night Ben Dubin – Foothill College – Business 95 - 2015©. “The trouble in America is not that we are making too many mistakes, but that we are making too few.” Ben Dubin – Foothill College – Business 95 - 2015©. We wanted Nike to be the world‘s best sports and fitness company. Once you say that, you have a focus. You don't end up making wing tips or sponsoring the next Rolling Stones world tour. - Phil Knight Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. Ben Dubin – Foothill College – Business 95 - 2015©. Started the company called Blue Ribbon Sports His first hire was his track coach His passion was athletics and innovation Knight was an avid runner, and thought there was a market for athletic shoes designed by athletes for athletes. He was right. Ben Dubin – Foothill College – Business 95 - 2015©. The company's first self-designed product was based on Bowerman's "waffle" design. After the University of Oregon resurfaced their track, Bowerman began experimenting with different potential outsoles that would grip the new urethane track more effectively. His efforts were rewarded one Sunday morning when he poured liquid urethane into his wife's waffle iron. Bowerman developed and refined the so-called 'waffle' sole which would evolve into the now-iconic Waffle Trainer in 1974. Ben Dubin – Foothill College – Business 95 - 2015©. 15 4 Ben Dubin – Foothill College – Business 95 - 2015©. 15 5 Phil Knight believed that people were heavily influenced by what top athletes were wearing and would purchase shoes accordingly. He called this the “Pyramid of Influence” Ben Dubin – Foothill College – Business 95 - 2015©. The Nike 'Swoosh' logo cost just $35 in 1971. It was designed by graphic design student Carolyn Davidson and for her services she charged $35 at a rate of $2/hour. Phil Knight repaid her in 1982 with a gold Swoosh ring and an unknown amount of Nike stock. Ben Dubin – Foothill College – Business 95 - 2015©. $99.93 Billion market cap $30.601 Billion in revenue $3,273 Billion in profit 62,600 people (based on 5/31/15 financial data) Ben Dubin – Foothill College – Business 95 - 2015©. $61.61 Billion market cap $25,313 Billion in revenue $3,254 Billion in profit 48,000 people (based on 9-25-2013 stock data and 5/31/2013 financial data) Ben Dubin – Foothill College – Business 95 - 2015©. $43.68 Billion market cap $24.128 Billion in revenue $2.223 Billion in profit 38,000 people (based on 9-27-2012 stock data and 5/31/2012 financial data) Ben Dubin – Foothill College – Business 95 - 2015©. $99.93 Billion market cap $30.601 Billion in revenue $3,273 Billion in profit 62,600 people (based on 5/31/15 financial data) Ben Dubin – Foothill College – Business 95 - 2015©. $85.82 Billion market cap $27,799 Billion in revenue $3,680 Billion in profit 56,500 people (based on 5/31/14 financial data) Ben Dubin – Foothill College – Business 95 - 2015©. http://www.youtube.com/watch?v=Qy1KM6NwTgw http://www.youtube.com/watch?v=dkBOI4lNfYs&feature=r elated http://www.youtube.com/watch?v=TJJqEzrk8OI&playnext= 1&list=PL791548396B6878E6&index=6 Ben Dubin – Foothill College – Business 95 - 2015©. N1KE http://registry.faa.gov/aircraftinquiry/NNum_Results.aspx?NNumbertxt=1KE Ben Dubin – Foothill College – Business 95 - 2015©. Mission Statement Ben Dubin – Foothill College – Business 95 - 2015©. "People with goals succeed because they know where they are going. It's as simple as that.“ - Earl Nightingale Ben Dubin – Foothill College – Business 95 - 2015©. A mission statement is concise sentence/paragraph describing what your company does and for whom. Your mission is for you, your employees and your business. It can be WHATEVER you want it to be Not about money. Try to make it be what your core competency is. Ben Dubin – Foothill College – Business 95 - 2015©. We help people trade practically anything on earth Ben Dubin – Foothill College – Business 95 - 2015©. We help people trade practically anything on earth Ben Dubin – Foothill College – Business 95 - 2015©. To organize the world's information and make it universally accessible and useful Ben Dubin – Foothill College – Business 95 - 2015©. To organize the world's information and make it universally accessible and useful Ben Dubin – Foothill College – Business 95 - 2015©. Establish _______ as the world’ s leading source of healthy energy in the form of freshly blended beverages with an uncompromising commitment to making a difference through our values. Ben Dubin – Foothill College – Business 95 - 2015©. 17 2 Establish Jamba Juice as the world’ s leading source of healthy energy in the form of freshly blended beverages with an uncompromising commitment to making a difference through our values. Ben Dubin – Foothill College – Business 95 - 2015©. 17 3 To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete Ben Dubin – Foothill College – Business 95 - 2015©. To bring inspiration and innovation to every athlete in the world. If you have a body, you are an athlete Ben Dubin – Foothill College – Business 95 - 2015©. Slides presented on the How to Market Goods and Services for your business Sample Business article analysis Mystery Entrepreneur Check blog for additional readings & assignments Ben Dubin – Foothill College – Business 95 - 2015©.