BizMiner and the Entrepreneurial Process

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Transcript of BizMiner and the Entrepreneurial Process

  1. 1. Entrepreneurial Process Mather
  2. 2. Use the librarys Entrepreneurship Subject Guide. Follow the next slides to access this. From the main HVCC webpage (hvcc.edu) select Library. DRAFT
  3. 3. The Marvin Library is part of the greater Learning Commons. Select Dwight Marvin Library. DRAFT
  4. 4. Accessing BizMiner
  5. 5. Types of Reports in BizMiner DRAFT
  6. 6. 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
  7. 7. 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. Lets start with Find Your Report. DRAFT
  8. 8. Our industry is mens specialty clothing. Specifically custom shirt stores at the retail level
  9. 9. 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, lets choose Retail Trade. DRAFT
  10. 10. Retail Trade Here you can drill down to more detailed industry segments. We are looking for mens custom shirts in the retail trade. Lets try Clothing and Clothing Accessory Stores. DRAFT
  11. 11. 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, mens clothing. DRAFT
  12. 12. Subcategories of mens clothing Lets pick Custom Shirt Stores. DRAFT
  13. 13. You are now about to access reports for mens 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 Market Analyzer (See slide 13 for descriptions of reports.) Lets choose Industry Financial Profiles. DRAFT
  14. 14. Industry Financial Profiles Over 5,000 industries Some 13 million active business operations U.S., state and about 350 metro areas Profit loss, balance sheet and financial ratios actual financial reports In-depth reviews e.g., net worth restaurants in Phoenix- Mesa AZ area Data available in 3 or 5 year reports DRAFT
  15. 15. Mens Custom Shirt Industry Report (Retail) Lets pick New York and five years (defaults to most recent years). DRAFT
  16. 16. Mens Custom Shirt Industry Report (Retail) Industrywide (16 firms in NY) DRAFT
  17. 17. Mens Custom Shirt Industry Report (Retail) Here is your report. You can access it in PDF, HTML or CSV (Excel) format. Choosing PDF DRAFT
  18. 18. Mens Custom Shirt Industry Report (Retail) Here you are prompted to agree to the terms and conditions of usage. DRAFT
  19. 19. Generating Mens Custom Shirt Industry Report (Retail) in PDF format DRAFT
  20. 20. Mens Custom Shirt Industry Report (Retail) 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 DRAFT
  21. 21. 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
  22. 22. Micro Firm Profit-Loss Reports Best for sole-proprietorship and startup benchmarking Sole-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. level Data available in 3 or 5 year reports DRAFT
  23. 23. Micro Firm Profit-Loss Reports for Mens Custom Shirt Stores (Retail) Micro Firm Profit-Loss Reports 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 Here we are selecting the 3 year version for sole proprietorships DRAFT
  24. 24. Micro Firm Profit-Loss Reports for Mens Custom Shirt Stores (Retail) Here is your report. You can access it in PDF, HTML or CSV (Excel) format. Choosing PDF DRAFT
  25. 25. Mens Custom Shirt Sole Proprietor Micro Firm Profit Loss (Retail) Report 10 pages including: Income-Expense Statement ($) Income-Expense Statement (%) Annual Cash Flow Monthly Cash Flow Financial Ratios Cash Flow Solvency Profitability Efficiency DRAFT
  26. 26. Industry Market Research 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 BizMiner requires 7 industry operations in any area to offer an industry market report. DRAFT
  27. 27. Industry Market Research DRAFT
  28. 28. Market Reports for Mens 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
  29. 29. Market Reports for Mens Custom Shirt Stores (Retail) Lets stick with New York, NY (20 operations). DRAFT
  30. 30. Market Reports for Mens Custom Shirt Stores (Retail) Here is your report. You can access it in PDF, HTML or CSV (Excel) format. Choosing PDF DRAFT
  31. 31. Market Reports for Mens Custom Shirt Stores (Retail) 9 pages including: Industry population time series Cessation rates Industry Market Volume, average annual sales Sales trends by employment class Employment class trends Sales per employee Industry startup trends and activity Industry vitality trends DRAFT
  32. 32. Competitive Market Analysis 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
  33. 33. Competitive Market Analysis for Mens 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
  34. 34. Competitive Market Analysis for Mens Custom Shirt Stores (Retail) 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. Well select New York. DRAFT
  35. 35. Competitive Market Analysis for Mens Custom Shirt Stores (Retail) Next, select a financial benchmark group for your Competitive Market Analyzer. Selecting all sales classes DRAFT
  36. 36. Competitive Market Analysis for Mens Custom Shirt Stores (Retail) Choosing a market peer group means deciding whether to search all mens custom retail shirt stores or just those with under 25 employees (small businesses). DRAFT
  37. 37. Competitive Market Analysis for Mens Custom Shirt Stores (Retail) 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 mens retail custom shirt stores in the State of New York for small businesses only. DRAFT
  38. 38. DRAFT This search approach is effective if you know the NAICS code for your industry.
  39. 39. Finding the NAICS Code Northern American Industry Classification System DRAFT
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  45. 45. For more info. Make a research appointment with a librarian (click here)!