Entrepreneurship 1
1.00
Entrepreneur
• Defined as: The person taking
the risk of owning and
operating a business
Entrepreneurship
• Defined as: Process
• Throughout American history,
entrepreneurship has fueled innovation,
created new jobs, and satisfied wants and
needs in the marketplace.
Entrepreneurship
• Entrepreneurs start businesses through a
process that includes five key
components: the entrepreneur, the
environment, the opportunity, the
resources to start the business, and the
new venture organization.
Entrepreneurship
• Entrepreneurs can achieve business
success by planning and managing
effectively.
Characteristics of entrepreneurs
• Commitment and Determination
• Opportunity obsession
• Tolerance of risk, ambiguity, and
uncertainties (they know these negatives
will happen) but they are willing to take
that chance
• Creative, self-reliant, ability to adapt to
change
• Motivation to excel
Social Nature
• Being social is important because
“Building a company entails hiring,
organizing, and inspiring a collection of
people.
• Need to
– Get funds from people
– Buy for your business from people
– Sell to people
Entrepreneurially alert
• Are always looking for
new opportunities, thus
able to see an
opportunity when it
arises.
Entrepreneurs capitalize on
• Life experiences
• Person’s position in social network
(LinkedIn)
• Their ability to focus on opportunities
• Intelligence
• The process used to seek and research
information – Discovery, Evaluation, and
Exploitation
Entrepreneurial process
• Process of identifying and starting a
business venture, sourcing and organizing
the required resources and taking both the
risks and rewards associated with the
venture.
• Discovery
• Evaluation
• Exploitation
Entrepreneurial Discovery
• Scientific discovery
– Occurs when a
physical or
technological
observation is made
• Circumstantial
discovery
– Occurs when an
observation is made
based on specific
knowledge of time,
place, or circumstance
Discovery
• Introduction of a new product or a new
quality of a product
• Introduction of a new method of production
- Use of robotics on an assembly line
• Opening of a new market
• Conquest of new source of supply of raw
materials or components
• Reorganization of any industry
New or improved product is most
common area of innovation
New
Improved
• New MP3 Player • MP3 Player with
a scratch proof
screen
Discovery, examples
• The introduction of a new method of
production:
Henry Ford’s invention of the assembly line
• The opening of a new market:
McDonald’s moving into China for the first time
(Note that in addition to discovering the new
market, it requires an understanding of culture,
laws, local buyer preferences and business
practices, and a host of contact, communication,
and transportation details referred to as "setting
up a distribution channel.")
Discovery, examples
• The conquest of a new source of supply of
raw materials or components:
Moving a shoe manufacturer from the U.S. to
Mexico to access cheaper labor
Finding a new source of oil previously not
discovered
• The reorganization of any industry:
Several years ago, the U.S. government
believed that one telephone company, Bell, had
formed a monopoly. The company was broken
up, making the way for new, smaller telephone
companies to form.
Prototype
Definition: a 3-dimensional version
of your vision
Here’s why a prototype is helpful to discovery:
It enables you to test and refine the functionality of your
design.*
Sure, your idea works perfectly in theory. It's not until you
start physically creating it that you'll encounter flaws in
your thinking.
That's why another great reason to develop a prototype
is to test the functionality of your idea. You'll never know
the design issues and challenges until you begin actually
taking your idea from theory to reality
Why a prototype
• It makes it possible to test the
performance of various materials.*
For example, your heart may be set on
using metal—until you test it and realize
that, say, plastic performs better at a lower
cost for your particular application. The
prototype stage will help you determine
the best materials.
Prototype
Why a prototype
• It'll help you describe your product more
effectively with your team, including your
attorney, packaging or marketing expert,
engineers and potential business
partners.*
• It will encourage others to take you more
seriously.
Evaluation
• Judge
• Determine
• Look at it’s worth
Exploitation
• Bring into the market in order
to gain and realize profits
• Make the most of the
opportunity and thus capitalize
on it
Ways that entrepreneurs try to
distinguish themselves from their
competitors.
• Determine your product/ideas major
selling advantage: what will make a
customer buy you and not a
competitor? What makes your
product different from the
competition? This may be a product
feature, type of service provided, etc.
Entrepreneurs Sell Products
• Goods
– Tangible
– Touch in/with hands
– Can weigh it
• Services
– Paying someone to
perform a task for you
– Intangible
– Non-physical
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Funeral Home Service
Dry Cleaning Service
University
Entertainment
Doctor
Dentist
Business Example
• Offers both a good and a service
– Restaurant
• Food – Good
• Service – cooking your food and
serving it to you
What if
• This were your restaurant
Entrepreneurs
• Sell ideas – “Shoot for what can be not
what is…”
– http://www.roxannejoffe.com/2011/04/pointers-steve-jobs-women-businessleaders/
Risk
• Uncertainty in profits and business
success
• See text pp. 30-31
Types of risks
• industry risk (e.g., complex industry, overserved industry, failing industry, difficult
suppliers, etc.).
• market risks (e.g., competition,
ineffectiveness of marketing model, slow
market acceptance, etc.).
• product risks affecting a new venture (e.g.,
difficulties in transforming idea into
market-ready product, etc.).
Types of risks, cont
• financial risks usually associated with startup ventures (e.g., loss of capital, uncertain
income, inflation, economic downturns,
changes in interest rates, higher costs,
bankruptcy, etc.).
• career risks associated with starting a new
business (e.g., unemployment, business
failure, etc.).
• emotional risks that entrepreneurs face
(e.g., marital strain, family problems, etc.).
Persistent
• Study from text pp. 34-35
Curiosity
• A desire to know or learn
• When an entrepreneur is curious they are
Not being nosey
• Rather they are seeking to explore new
ideas, ventures, research, inquisitive
• From freedictionary.com and teacher
Opportunity
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Page 20 text
Chapter 3 text
Take an idea and turn into a business
An idea with commercial value
Venture
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Page 16 text
You seek growth
Go from local to national to international
Incorporate
– Dell
– Amazon.com
– Gap
– Coca-Cola
Ideas for a business
• Study text pp. 51-56
– Brainstorming
• helps you generate creative solutions to a problem
• http://www.mindtools.com/brainstm.html
• See video
– “Brainstorm better with James Manktelow & Amy
Carlson”
Find your idea
• Be ready for anything. Yes, anything. But
you cannot consider all possibilities.
• Brainstorm for the goal you want to reach
• If it piques interest give it a try
• Don’t be judgmental but use good
judgment
• Don’t overfill your brain – it will likely shut
down http://www.youtube.com/watch?v=zP4gyqk2WF8
Environmental Scan
• Define: An analysis and evaluation
process that businesses use to
understand their current environment
• Explain why businesses conduct
environmental scans:
The aim is to identify trends, gaps,
events, developments, and issues that will
impact the businesses.
Environmental Scan
• Doing research from various sources in
order to:
• Aids in anticipating changes
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Answers the question, “Where are we
now?”
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Provides a starting point for
businesses’ planning of goals, objectives,
and actions that answer the question,
“Where do we want to be?”
Environmental scan resources
• Interviews with business officers, owners, managers
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Comments made by business officers, owners,
managers
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National and local newspapers
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Trade publications
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Business magazines
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Websites: Hoover’s, Morningstar, brokerage firms,
credible financial sites
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Observations
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Research findings
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Input from professional organizations
Seek help
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SCORE
SBA
Trade associations
Attorney
Accountant
Colleges and Universities'
Personal experience (take a hobby and
turn into a profitable venture)
Get help from
• Local resource such as the Chamber of
Commerce
• They are interested in bringing businesses
into their town or city for the purpose of
economic growth (more jobs)
•
Economics
• With layoffs come rise in unemployment
• People have less money to spend on
wants
• They try to save money but hard to do so
• May qualify for unemployment benefits but
must show proof of job search
• Companies will want Workkeys
certification
Just what is a Business Plan
• See text and take notes
• See text for components of a BP
Why a Business Plan
If you plan to approach a financial
institution for a loan, apply for a
small business grant, pitch your
business idea to investors, or enlist
the support of a business partner, a
business plan is required.
Also, because
• A Business Plan Helps You Make
Decisions
• A Business Plan Can Be a Reality Check
• It serves as a guide, a roadmap
• It can give you new ideas
Business Plan
• Financing
Money/Capital
• Strategy
Plan of action
• Feasibility Study
Will the
proposed project be profitable
• Opportunity
Favorable
activities
Start-up cost
• Fixed - examples
• Variable – examples
• What do costs have to do with profit
• What is profit?
• At what point do we know we are making
a profit?
Break-even
• Activity:
– Calculate break-even
Major components of a BP
Business Plan
• Our focus is on the Marketing Plan part of
a Business Plan
• http://www.mplans.com/restaurant_marketi
ng_plan/marketing_vision_fc.php
Business ownership
• Corporation
• Partnership
• Sole proprietor
New Products
• Brainstorm
• Look at all the possibilities based on
customer demand
• What’s in naming a product –
– You will name a new product for your
business
Your Market/Customers
• Target market/market/customers
• B2B
• B2C
• Market concept – putting the needs and
wants of your customer first.
Marketing concept interrelates
with marketing mix
Product
• Product—the goods, services, or ideas a
business will offer its customers
•
a. Marketers conduct research and
use their creativity to determine what
customers need and how they will meet
that need.
• Marketers have succeeded with the
product element when customers view the
product as the best solution to their needs.
Place
• Right place at right time
• Marketers are successful with the place
element when customers can buy a
desired product when and where they
want.
(Channel management, logistics,
distribution)
Price
• Price—the amount of money a business
asks in exchange for its products
•
a. Marketers must find a good
balance between customer value and
satisfaction and between company cost
and profit.
Promotion
• Promotion—letting customers know the
product’s value and its benefits that meet
customers’ current needs and refers to the
various types of communication that
marketers use to inform, persuade, or
remind customers about their products
Mix elements inter-relate because a change
in one affects another
• A change to one element affects the other
elements
• 2. Examples:
•
a.
Improving product features will probably
result in price increases.
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b.
Simplifying the place element will
probably result in price decreases.
• 3. When marketers assemble the mix, they
carefully determine which elements to include
and to what degree—keeping in mind that the mix
words as a unit.
Target market
• A particular group of customers that a
business seeks to attract; the customers
who fall into a particular target market
share similar needs and characteristics.
• Businesses identify target markets in
order to make products that will effectively
meet the needs of the targeted customers.
Mass market
• Mass marketing is designing products and
directing marketing activities to appeal to
the whole market, (some like to say)
everyone…but not everyone will buy.
• A diverse group
• Mass marketing can be used to communicate a broad
message to as many customers as possible.
• Mass marketing allows a business to produce one
product for everyone, which is more cost-effective than
producing and marketing several products to several
target markets.
Market segmentation
• Market segmentation uses the division of a
total market into smaller, more specific
groups. The needs and concerns of each
market segment can be met more directly
and carefully.
Market segmentation
• Why segment the market?
– Cannot reach the whole or entire population
Segment based on:
• Demographics
Segment based on:
• Psychographics
Psychographics
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Values
Motives
Attitudes
Opinions
Interests
Activities
Personalities
Lifestyles
Segment based on:
• Behavioral – how consumer respond to a
product
– Rate of use
– Buy as a gift
– Benefits derived from using product
Segment based on :
• Geographic – state, city, rural, climate,
region
SWOT
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Strengths
Weaknesses
Opportunities
Threats
• Which are internal and which are external?
• Your competition falls under which?
Feasibility study:
• Strategic Alignment—Do you want to
do it?
• Operational—Can you do it?
• Marketing—Will your customers want
to buy it from you?
• Financial—Will it meet your financial
goals?
Inside-out
• A corporate strategy process that relies on
the core competencies of the company to
drive change, product development and
innovation as opposed to external
influences such as market, competition
and customer preferences. The assertion
by inside-out strategists is that a company
achieves greater efficiencies and adapt
more quickly to changing circumstances.
Read more: http://www.businessdictionary.com/definition/inside-out-strategy.html#ixzz2pHbYCl6x
Goals, strategies and tactics
• upon goals—where it is they want to
achieve.
• 4. Example: A restaurant wants to
increase this year’s sales by 10% over last
year’s sales.
• 5.
Strategy
• They lay out their plan of action—their
strategy—to show how they will reach their
goal.
•
Example: The restaurant evaluates its
many options and decides to add a kids’
menu to increase sales.
Tactic
•
Short-term (must be in-line with goal
and strategy
• Example: Tactics that the restaurant might
use:
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a. Introduce meals which kids like.
•
b. Offer a free ice-cream cone to
each child selecting a kids’ meal.
What is a marketing plan?
A marketing plan is a tool enabling your
business to get as much value as
possible for any money you spend on
marketing.
Many businesses choose to approach the
market randomly. Unfortunately, this
attitude often results in waste of
resources. A marketing plan can help
structure the actions.
Marketing Plan
Marketing Plan
• Parts of a Marketing Plan (see notes)
Identify the components of a
marketing plan.
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Executive Summary
Situation Analysis (SWOT)
Desired Target Market
Marketing Goals and Objectives
Marketing Strategies and Programs
Financial Plans
Performance and Implementation
Appendices – charts, graphs
Executive summary
• The executive summary serves as an
introduction to the marketing plan and
helps the reader to understand the
purpose of the marketing plan. It contains
a brief overview of the marketing plan and
focuses only on the most important points
of the plan.
Product-services
part of the Marketing Plan
• Product-mix (Broad or narrow)
• Brands
• Product life-cycle (Draw chart, label
and give characteristics of each stage)
• Positioning our product
• Market share
What if you are developing a new
product?
• What will you need to do?
– Research (why)?
– Obtain a P_________. (Why)?
What agency grants patents?
Product on decline
• Explain as: During decline, sales growth
becomes negative, profits decline, competition
remains high, and the product ultimately reaches
its 'death'.
• Example: PCs started to become obsolete as
laptops, net books, tablets, and smart phones
started to enter the market, shifting the
emphasis from power to portability. The PC is
still used all over the world, but its popularity has
declined dramatically.
Activity
• Develop a chart showing your company’s
product mix
– Product lines
– Depth
– Width
– Breadth
– Items
Product Mix Strategies
• Expansion = adding new products to existing
line
• Trading up = adding higher quality products and
thus increasing price
• Trading down = adding lesser quality thus
decreasing price
• Contraction = taking product from line
• Positioning = how customer feel about your
product in their minds
• Alteration = modify product
Product Positioning
• Getting your product/brand/company into
the minds of the customer
? Which brand is #1
? How does product positioning connect to
market share?
Product Positioning
• Dell computers were not available for
customers to purchase directly. Dell’s
product positioning strategy began as a
distribution channel through resellers,
Once the Dell brand was widely
acknowledged and valued, they changed
their product positioning strategy to
provide direct distribution to the customer.
Re-positioning
• When a company initiates a re-positioning strategy, it
needs to change the expectations of stakeholders,
including employees, stockholders, and financial
backers.
• A company may need to consider a re-positioning
strategy if they have a weak brand, if they have not
remained competitive in the market, or if there is a
change in the economy.
• A company may re-position a specific product line, a
brand, or the entire organization.
Re-positioning
• Apple has successfully repositioned itself
as a digital lifestyle provider
Re-positioning
• Old Spice has made a concerted effort to
reposition its brand from a stodgy
aftershave product line to a cool,
contemporary array of “fragrant man
goods.” Thanks to its viral video
marketing, a whole new audience has
embraced this once, old-school cologne.
KFC Re-positioning
• KFC rebranded to freshen their look and
shed their “fried” image
PLC and Product Mix Strategies
• How do the two inter-relate?
– For example, at what stage of the PLC would
you contract your product?
– Answer_____________________.
Customer defection
• Rate at which customers defect or stop the
usage of products of a company
– How do you retain or prevent customer
defection?
– We would love to keep
you
– USP is one way
USP
• Unique Selling Proposition
– (a.k.a. unique selling point)
– How does a company “power-up” the sell of
their products, their brand, their company?
– For example, Charles Revson, founder of
Revlon, always used to say he sold hope, not
makeup. Some airlines sell friendly service,
while others sell on-time service. Neiman
Marcus sells luxury, while Wal-Mart sells
bargains
USP and the Marketing Mix
• A business can peg its USP on product
characteristics, price structure, placement
strategy (location and distribution) or
promotional strategy
• The benefit that a product or service can
deliver to customers that is not offered by
any competitor: one of the fundamentals of
effective marketing and business.
http://www.mshmgi.com/glossary,U,Unique+Selling+Preposition+%28USP%29.html
USP
• Example:
DeBeers
A diamond is forever.
• There's a reason that this slogan has
been around since 1948 and is still in
use today. The slogan points out that
diamonds, being next to
unbreakable, last forever and thus
are the ideal symbol for undying
love.
Company personality
• Found in its
–Unique logo
–Symbols
Competitive advantage
• A competitive advantage is an advantage
over competitors gained by offering
consumers greater value, either by means
of lower prices or by providing greater
benefits and service that justifies higher
prices.
Channel of Distribution
• The primary purpose of any channel of
distribution is to bridge the gap between
the producer of a product and its user
• Channel of distribution begins with the
producers/manufacturers
• Each channel member adds value or
economic utility to the product. (How?)
The 4 P's of marketing and the
distribution:
• What the product is and how it meets a
customer need
• What the price of the product will be
• What promotions will be used to sell the
product
• And what place the product will be sold.
• The distribution channel is primarily
concerned with this last item (place).
Distribution
• aka: Logistics
– http://www.youtube.com/watch?v=mRAHa_Po0Kg
– UPS Logistics commercial
Channels of distribution
Direct
• Directly from the producer
to the consumer
• No middlemen or
intermediaries
• Best to use this channel
when selling BIG, bulking
heavy equipment
Indirect
• From Producer to a
middleman to the
customer
• Who typically does the
wholesaler sell to?
• Who does the retailer sell
to?
How banks use channel of distribution
• Banks have responded by developing
bank-by-mail, Automatic Teller Machines
(ATMs), and other distribution systems.
Types of distribution
• A marketer will consider the three types of
distribution and select the one that most
closely fits the overall marketing strategy.
• There are three basic types of distribution
for a marketer to consider: Intensive,
selective, and exclusive.
Exclusive distribution
• Exclusive distribution. The use of a single
or very few outlets. Creates high dealer
loyalty and considerable sales support
Selective Distribution
• (such as Baskin-Robbins)-an intermediary
strategy, with the exact number of outlets
in any given market dependent upon
market potential, density of population,
dispersion of sales, and competitors'
distribution policies
Intensive distribution
• The manufacturer attempts to get as many
intermediaries of a particular type as
possible to carry the product (such as
candy). Provides for increased sales
volume, wider consumer recognition, and
considerable impulse purchasing. Low
price, low margin, and small order sizes
often result.
How can companies keep up?
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So much data
So much information
SWOT
Plans
Feasibility studies
Financial
Customer information
On and on and on
MIM
• Marketing Information Management
– Cloud Computing
Cloud computing
• How Cloud Computing Works
• The goal of cloud computing is to apply
traditional supercomputing, or high-performance
computing power, normally used by military and
research facilities, to perform tens of trillions of
computations per second, in consumer-oriented
applications such as financial portfolios, to
deliver personalized information, to provide data
storage or to power large, immersive computer
games.
Provider of cloud computing
• Amazon
– The revenue it makes on its cloud computing
business, known as Amazon Web Services,
which provides the backbone for a growing
portion of the internet: about $2.4 billion a
year.
Cloud computing services
• Today, hundreds of thousands of
customers of all sizes take advantage of
these cloud computing services in a
diverse set of industries, including
healthcare, media, financial services,
insurance, real estate, retail, education
and the public sector.
• Amazon provides these services
Companies using the CLOUD
“Unilever’s digital data
program now processes
genetic sequences twenty
times faster and supports
ten times as many
scientists
simultaneously.”
- Pete Keeley
Unilever Researchs
eScience IT Lead for Cloud
Solutions
Cloud services
• Web, Mobile, & Social Apps
• Use AWS' Cloud Computing services to
power web, mobile, and social apps.
• Big Data
• Use Cloud Computing to store and
process large datasets to solve business
problems.
Cloud services, cont
• Backup & Storage
• Store and retrieve any data, anywhere,
any time with AWS’ Cloud Computing
services.
• Digital Media
• Use AWS’ Cloud Computing services to
ingest, store, encode, protect, and stream
your media.
Cloud services, cont
• Enterprise Applications
• Run enterprise applications using AWS’
Cloud Computing services.
• Gaming
• Use AWS' Cloud Computing services to
deliver casual or MMO games.
Pricing
• In line with competition
• Higher than competition
• Will not be undersold (lower than
competition)
• Odd-even
• Penetration
• Skimming
Pricing objectives
• Profit-oriented
objectives
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Are focused on
creating profit for a
business
• Some businesses set
prices that result in the
greatest amount of profit.
•
Other businesses set
prices to recover their
costs and earn a
reasonable profit.
• Sales-oriented objectives
•
Are focused on
increasing total income
from sales and can be
accomplished in two ways:
• Charge low prices to
increase the volume of
sales so that the business
has more total income
because it sells more
products
•
Charge high prices to
increase the dollar value of
each sale
Calculate Mark-up
• Cost + _____________ = Selling Price
• So, Selling price – cost = __________.
• Cost = $10.00
• Selling price = $25.00
• Mark-up = (?)
Promotion
• Remind
• Persuade
• Inform
Promotion
• Promotional Mix
– Advertising (PRINT AND BROADCAST) and
is commonly used to reach masses
• TV is (?)
– Personal selling
– Sales promotion
– Publicity
– Public Relations
Promotional Plan
• Should have a theme
• Is plan PRE-OPENING
• Or is plan ONGOING
How does promotion benefit the
customer/consumer?
• Customers can compare
• Informs of products uses
– Features or physical characteristics (what we
see about the product like it’s size, shape,
brand name, price, materials, colors, weight,)
– Benefits (what’s in it for the customer –
comfortable, saves money, make life easier,
improves self-esteem)
Promotion can be
Institutional
• Company image
• Concern for community
• Scholarships
• Charities
• Education
• Public health – fight
against obesity
Product Promotional
• Product price
• Product features
• Product benefits
• Sales
Promotional Budget
Sales forecasting
• Projection of achievable sales revenue,
based on historical sales data, analysis of
market surveys and trends, and
salespersons' estimates.
• Predict sales target or sales goals
• (You must be able to calculate) (See
notes)
Read more: http://www.businessdictionary.com/definition/sales-forecast.html#ixzz2pHdE5N9R
Quantitative Forecasting:
• Quantitative methods of forecasting sales
are based on the results of gathering and
analyzing all kinds of numerical market
data.
• Numerical data may come from internal sources such as:
– Sales records
– Past product/market research
– Customer surveys that the company has on hand
• Numerical data such as economic trends, population changes,
consumer spending, and industry forecasts come from external
sources such as government reports, business publications, and
trade associations.
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Qualitative Forecasting:
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Qualitative, or judgmental, forecasting methods are
based on expert opinion and personal experience.
• The company prepares its sales forecasts by asking
knowledgeable people such as experts in the field, sales
personnel, customers, and company executives.
• These individuals base their predictions on what they
have seen happen in the past as well as no current
observations of the economy or of the industry.
• This method is especially common when sufficient
historical data isn't available, i.e., for a new business or a
less-established market environment.
Review
• Notes from Unit 5.00 on sales forecasting
and how to calculate sales
ROI
Marketing Metrics
• Used to evaluate the Marketing plan
– marketing metrics, marketing dashboard,
navigational, and evaluative.
Metrics
customer-acquisition metrics (e.g., awareness levels,
purchase-decision drives, rate of customer acquisition,
market share, acquisition costs, etc.).
customer-retention metrics (e.g., retention rate,
abandonment rate, brand loyalty, lifetime value [LTV],
etc.).
product metrics (e.g., usability, satisfaction versus
expectations, first-time user experience, awareness,
purchase rate, price, profit impact, etc.).
Metric
• key financial metrics (e.g., revenue, gross profit, net profit,
return on sales [ROS], return on investment [ROI], return
on marketing investment [ROMI], etc.).
• promotional metrics (e.g., reach, frequency, Gross Rating
Points [GRPs], impressions, Cost per Thousand [CPM],
coupon redemption rates, costs for coupons and rebates,
cost per click, accuracy of coverage, media impressions,
etc.).
• pricing metrics (e.g., optimal price, price premium, percent
good value, etc.).
Dashboard
• Information helpful to business managers
available on a digital dashboard might
include stock prices, weather data, a
calendar management function, e-mail
access, news feeds and various types of
company specific information.
Read more: http://www.businessdictionary.com/definition/digital-dashboard.html#ixzz2pHcvLtgU
Navigational dashboard
• Keeping up with location of
customer contact
• Reach
• Frequency
• CPM
Works cited
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http://candicares.wordpress.com/2012/10/16/never-give-up-never-surrender/
http://www.wisegeek.org/what-is-a-business-risk.htm#did-you-know
http://www.roxannejoffe.com/2011/04/pointers-steve-jobs-women-business-leaders/
http://www.google.com/search?aq=&rlz=1T4ADRA_enUS489US489&q=business+opportunity+leads&um=1&ie=U
TF-8&hl=en&tbm=isch&source=og&sa=N&tab=wi&ei=JkCUemfNon69QTB44DoBg&biw=1600&bih=721&sei=OukCUcX8HY2E9QSH04GgBA
http://sbinformation.about.com/od/businessplans/a/why-you-need-a-business-plan.htm
http://www.google.com/search?q=business+plan&hl=en&tbo=d&rlz=1T4ADRA_enUS489US489&source=lnms&tb
m=isch&sa=X&ei=RJUFUdn6BIaQ9gSdkoDwCQ&ved=0CAoQ_AUoAA&biw=1600&bih=721
Product life cycle picture http://google search
https://www.boundless.com/marketing/products/product-life-cycles/decline/
http://sales.about.com/od/leadgeneration/tp/Unique-Selling-Proposition-Examples.htm
De Beers http://www.investmentsandincome.com/investments/de-beers-diamonds-investment.html
Customer defection http://www.cbs-cbs.com/how-i%E2%80%99d-love-to-keep-you/
Cloud computing http://www.webopedia.com/TERM/C/cloud_computing.html
Amazon cloud computing http://aws.amazon.com/free/