Transcript New York City Department of Small Business Services

Business Opportunities in
Sino-U.S. Entrepreneurship
E Business Program
Presented by
Prof. Angela Wu, CPA & MBA,
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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)
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Billion Dollar
Chinese Start-ups
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UTStarcom
Sina
Netease
Baidu
Focus Media
Shanda
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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.
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What it takes: The Wheel of
Entrepreneurship
Risk Taking
Listening/
Understanding
Persuasiveness
Organization
Adaptability
Ask yourself:
Competitiveness/Drive
How well do you
do on each
criteria?
Confidence/Vision
What can you do
to overcome
shortcomings?
Discipline/Perseverance
Source: Adapted from Co-Active
Coaching (Davies-Black Publishing)
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Legal Organizational Forms
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Sole Proprietorship
Partnership
Corporation
Limited Liability Corporation
• http://www.federaltaxid.us/
• http://www.dos.state.ny.us
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Financing Your Business
Types of financing:
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Debt financing: involves an interest bearing
instrument, usually a loan.
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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.
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Business Plan Format
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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
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The Pitch
How convincing a case can be made for
the business idea?
1. The Opportunity
2. The Management
3. The Economics
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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.
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