BizMiner and the Entrepreneurial Process

Entrepreneurial Process

Mather

DRAFT

Use the library’s Entrepreneurship Subject Guide. Follow the next slides to access this.

From the main HVCC webpage (hvcc.edu) select “Library.”

DRAFT

The Marvin Library is part of the greater Learning Commons.

Select “Dwight MarvinLibrary.”

Accessing BizMiner

DRAFT

Types of Reports in BizMiner

DRAFT

Types of Reports in BizMiner

Types of BizMiner Reports:

All include statistical information.

Industry Financial◦ Over 5,000 industries

Some 13 million active business operations

◦ U.S., state or metro◦ Profit loss, balance sheet and financial

ratios – actual financial reports◦ In-depth reviews e.g., net worth

cardiologists in Phoenix-Mesa AZ area◦ Data available in 3 or 5 year reports

Micro Profit & Loss◦ Over 4,000 lines of business at U.S. level◦ Profit loss, balance sheet and

financial ratios◦ Best for sole-proprietorship and

startup benchmarking◦ Data available in 3 or 5 year reports

Industry Market◦ 9,000 industries◦ U.S. to zip code market area◦ Best for “granular” industry market

trends e.g., HVAC small businesses by zip code

◦ Data available in 3 year reports

Competitive Market Analyzer◦ 9,000 industries◦ U.S. to zip code market area◦ Financial and market analysis◦ Best for business plan summaries◦ Generally progresses from big

picture background to a specific market area industry analysis and benchmarks

DRAFT

BizMiner home page.

You can type in the industry your business is in at the left hand column, or type in the NAICS code (Northern American Classification System) in the “Industry Search” box OR select “Find Your Report.”

Let’s start with “Find Your Report.”

Our industry is men’s specialty clothing.

Specifically custom shirt stores at the retail level

DRAFT

This is the page you are brought to when you select “Find Your Report.”

See the GENERAL list of industries you can select from. Note these industries are grouped by “NAICS” sectors.

The North American Industry Classification System (NAICS) is the standard used by federal statistical agencies in classifying business establishments for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy.

In this case, let’s choose “Retail Trade.”

DRAFT

Retail Trade

Here you can drill down to more detailed industry segments.

We are looking for men’s custom shirts in the retail trade.

Let’s try “Clothing and Clothing Accessory Stores.”

DRAFT

More detailed industry segments

Top toolbar gives you a frame of reference as to where you are.

From the individual industry segments select your business area, for example, men’s clothing.

DRAFT

Subcategories of men’s clothing

Let’s pick “Custom Shirt Stores.”

DRAFT

You are now about to access reports for men’s custom shirt stores in the retail trade [NAICS 448110.03].

Remember there are 4 main types of reports in BizMiner.--Industry Financials--Industry Market--Micro Profit and Loss--Competitive MarketAnalyzer

(See slide 13 for descriptions of reports.)

Let’s choose “Industry Financial Profiles.”

DRAFT

Industry Financial Profiles

Over 5,000 industriesSome 13 million active business operations

U.S., state and about 350 metro areasProfit loss, balance sheet and financial ratios – actual

financial reportsIn-depth reviews e.g., net worth restaurants in Phoenix-

Mesa AZ areaData available in 3 or 5 year reports

DRAFT

Men’s Custom Shirt Industry Report (Retail)

Let’s pick New York and five years (defaults to most recent years).

DRAFT


Industrywide (16 firms in NY)

DRAFT


Here is your report. You can access it in PDF, HTML or CSV (Excel) format.

Choosing PDF

DRAFT


Here you are prompted to agree to the terms and conditions of usage.

DRAFT

Generating Men’s Custom Shirt Industry Report (Retail) in PDF format

DRAFT


17 pages including• Income Expense

Statement ($)• Income Expense

Statement (%)• Balance Sheet ($)• Balance Sheet (%)• Sources – Uses of

funds• Financial ratios –

Cash flow solvency• Profitability• Efficiency-Debt risk• Turnover

These are long reports. You can download them by clicking the “download” icon which appears at the bottom right of the screen.

Will appear here

DRAFT

Micro Firm Profit-Loss Reports

Best for sole-proprietorship and startup benchmarkingSole-proprietorship reports apply data from sole

proprietorships of any size or age in the industry.Startup reports apply data from firms with one year or

less of operation in the industry.Profit loss, balance sheet and financial ratios

Over 4,000 lines of business only at U.S. levelData available in 3 or 5 year reports

DRAFT

Micro Firm Profit-Loss Reports for Men’s Custom Shirt Stores (Retail)

Micro Firm Profit-Loss Reports

Over 4,000 lines of business at U.S. levelProfit loss, balance sheet and financial ratiosBest for sole- proprietorship and startup benchmarkingData available in 3 or 5 year reports

Here we are selecting the 3 year version for sole proprietorships

DRAFT

Micro Firm Profit-Loss Reports for Men’s Custom Shirt Stores (Retail)


Choosing PDF

DRAFT

Men’s Custom Shirt Sole Proprietor Micro Firm Profit Loss (Retail) Report

10 pages including:

Income-Expense Statement ($)Income-Expense Statement (%)Annual Cash FlowMonthly Cash FlowFinancial Ratios – Cash Flow SolvencyProfitabilityEfficiency

DRAFT

Industry Market Research

9,000 industriesU.S. to zip code market area

Best for “granular” industry market trends e.g., HVAC small businesses by zip code

Data available in 3 year reportsBizMiner requires 7 industry operations in any area to

offer an industry market report.

DRAFT

Industry Market Research

DRAFT

Market Reports for Men’s Custom Shirt Stores (Retail)

You can select between a metro., state or the U.S. market

or

A county market

or

Customize a market using zip codes.

DRAFT


Let’s stick with New York, NY (20 operations).

DRAFT



Choosing PDF

DRAFT


9 pages including:

Industry population – time seriesCessation ratesIndustry Market Volume, average annual salesSales trends by employment classEmployment class trendsSales per employeeIndustry startup trends and activityIndustry vitality trends

DRAFT

Competitive Market Analysis

9,000 industriesU.S. to zip code market area

Financial and market analysisBest for business plan summaries

Generally progresses from big picture background to a specific market area industry analysis and benchmarks

DRAFT

Competitive Market Analysis for Men’s Custom Shirt Stores (Retail)

Best for business plan summaries

Generally progresses from big picture background to a specific market area industry analysis and benchmarks

DRAFT


As with industry market reports, you can select between a metro., state or the U.S. market

or

A county market

or

Customize a market using zip codes.

We’ll select New York.

DRAFT


Next, select a financial benchmark group for your Competitive Market Analyzer.

Selecting all sales classes

DRAFT


Choosing a market peer group means deciding whether to search all men’s custom retail shirt stores or just those with under 25 employees (small businesses).

DRAFT


Before you run the competitive market analysis BizMiner gives you the chance to review your selections.

Here you are running an industrywide competitive analysis on men’s retail custom shirt stores in the State of New York for small businesses only.

DRAFT

This search

approach is effective

if you know the

NAICS code for

your industry.

DRAFT

Finding the NAICS CodeNorthern American Industry Classification System

http://hvcc.libguides.com/entrepreneur

For more info.Make a research appointment with a librarian (click here)!

https://www.hvcc.edu/lrc/students-instruction.html

BizMiner and the Entrepreneurial Process

Documents

Transcript of BizMiner and the Entrepreneurial Process