Entrepreneurial Process

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2. From the mainHVCC webpage(hvcc.edu) selectLibrary.Use the librarys Entrepreneurship SubjectGuide. Follow the next slides to access this.DRAFT 3. Select DwightMarvinLibrary.The Marvin Library is part of thegreater Learning Commons.DRAFT 4. To locate theEntrepreneurshipSubject Guideclick on MoreLibrary Services.This is the Google-like search screenyou will be brought to.DRAFT 5. SelectUseSubjectGuides.Here you have help tools, servicesand general information on the library.DRAFT 6. Choose theEntrepreneurshipSubject Guide.The library provides a vast array of subjectguides to help you in your research.DRAFT 7. Accessing BizMiner 8. Types of Reports inBizMinerDRAFT 9. Types of BizMinerReports:All include statisticalinformation. Industry Financial Over 5,000 industries Some 13 million active businessoperations U.S., state or metro Profit loss, balance sheet and financialratios actual financial reports In-depth reviews e.g., net worthcardiologists 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 financialratios Best for sole-proprietorship andstartup benchmarking Data available in 3 or 5 year reports Industry Market 9,000 industries U.S. to zip code market area Best for granular industrymarket trends e.g., HVAC smallbusinesses 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 plansummaries Generally progresses from bigpicture background to a specificmarket area industry analysisand benchmarksTypes of Reports in BizMinerDRAFT 10. BizMiner home page.You can type in theindustry yourbusiness is in at theleft hand column, ortype in the NAICScode (NorthernAmericanClassification System)in the IndustrySearch box OR selectFind Your Report.Lets start with FindYour Report.DRAFT 11. Our industry is mensspecialty clothing.Specifically custom shirt stores at the retail level 12. See the GENERAL list ofindustries you canselect from. Note theseindustries are groupedby NAICS sectors.The North AmericanIndustry ClassificationSystem (NAICS) is thestandard used byfederal statisticalagencies in classifyingbusinessestablishments for thepurpose of collecting,analyzing, andpublishing statisticaldata related to the U.S.business economy.In this case, letschoose Retail Trade.This is the page you are brought towhen you select Find Your Report.DRAFT 13. Retail TradeHere you can drilldown to moredetailed industrysegments.We are looking formens custom shirtsin the retail trade.Lets try Clothing andClothing AccessoryStores.DRAFT 14. Top toolbar gives youa frame of referenceas to where you are.From the individualindustry segmentsselect your businessarea, for example,mens clothing.More detailed industry segmentsDRAFT 15. Lets pick CustomShirt Stores.Subcategories of mens clothingDRAFT 16. Remember there are4 main types ofreports in BizMiner.--Industry Financials--Industry Market--Micro Profit andLoss--Competitive MarketAnalyzer(See slide 13 fordescriptions of reports.)Lets choose IndustryFinancial Profiles.You are now about to access reportsfor mens custom shirt stores in theretail trade [NAICS 448110.03].DRAFT 17. Industry FinancialProfilesOver 5,000 industriesSome 13 million active business operationsU.S., state and about 350 metro areasProfit loss, balance sheet and financial ratios actualfinancial reportsIn-depth reviews e.g., net worth restaurants in Phoenix-Mesa AZ areaData available in 3 or 5 year reportsDRAFT 18. Lets pick New Yorkand five years(defaults to mostrecent years).Mens Custom Shirt Industry Report(Retail)DRAFT 19. Industrywide (16firms in NY)Mens Custom Shirt Industry Report(Retail)DRAFT 20. Here is your report.You can access it inPDF, HTML or CSV(Excel) format.Choosing PDFMens Custom Shirt Industry Report(Retail)DRAFT 21. Here you areprompted to agree tothe terms andconditions of usage.Mens Custom Shirt Industry Report(Retail)DRAFT 22. Generating Mens Custom ShirtIndustry Report (Retail) in PDF formatDRAFT 23. 17 pages including Income ExpenseStatement ($) Income ExpenseStatement (%) Balance Sheet ($) Balance Sheet (%) Sources Uses offunds Financial ratios Cash flow solvency Profitability Efficiency-Debt risk TurnoverMens Custom Shirt Industry Report(Retail)DRAFT 24. Will appear hereThese are long reports. You can downloadthem by clicking the download icon whichappears at the bottom right of the screen. 25. Micro Firm Profit-LossReportsBest for sole-proprietorship and startup benchmarkingSole-proprietorship reports apply data from soleproprietorships of any size or age in the industry.Startup reports apply data from firms with one year orless of operation in the industry.Profit loss, balance sheet and financial ratiosOver 4,000 lines of business only at U.S. levelData available in 3 or 5 year reportsDRAFT 26. Micro Firm Profit-LossReportsOver 4,000 lines ofbusiness at U.S. levelProfit loss, balancesheet and financialratiosBest for sole-proprietorshipMicro Firm Profit-Loss Reports forMens Custom Shirt Stores (Retail)andstartup benchmarkingData available in 3 or5 year reportsHere we are selectingthe 3 year version forsole proprietorshipsDRAFT 27. Here is your report.You can access it inPDF, HTML or CSV(Excel) format.Choosing PDFMicro Firm Profit-Loss Reports forMens Custom Shirt Stores (Retail)DRAFT 28. 10 pages including:Income-ExpenseStatement ($)Income-ExpenseStatement (%)Annual Cash FlowMonthly Cash FlowFinancial Ratios Cash Flow SolvencyProfitabilityEfficiencyMens Custom Shirt Sole ProprietorMicro Firm Profit Loss (Retail) ReportDRAFT 29. Industry MarketResearch9,000 industriesU.S. to zip code market areaBest for granular industry market trends e.g., HVACsmall businesses by zip codeData available in 3 year reportsBizMiner requires 7 industry operations in any area tooffer an industry market report.DRAFT 30. Industry MarketResearchDRAFT 31. You can selectbetween a metro.,state or the U.S.marketorA county marketorCustomize a marketusing zip codes.Market Reports for Mens Custom ShirtStores (Retail)DRAFT 32. Lets stick with NewYork, NY (20operations).Market Reports for Mens Custom ShirtStores (Retail)DRAFT 33. Here is your report.You can access it inPDF, HTML or CSV(Excel) format.Choosing PDFMarket Reports for Mens Custom ShirtStores (Retail)DRAFT 34. 9 pages including:Industry population time seriesCessation ratesIndustry MarketVolume, averageannual salesSales trends byemployment classEmployment classtrendsSales per employeeIndustry startuptrends and activityIndustry vitalitytrendsMarket Reports for Mens Custom ShirtStores (Retail)DRAFT 35. Competitive MarketAnalysis9,000 industriesU.S. to zip code market areaFinancial and market analysisBest for business plan summariesGenerally progresses from big picture background to aspecific market area industry analysis and benchmarksDRAFT 36. Best for business plansummariesGenerally progressesfrom big picturebackground to aspecific market areaindustry analysis andbenchmarksCompetitive Market Analysis for MensCustom Shirt Stores (Retail)DRAFT 37. As with industrymarket reports, youcan select between ametro., state or theU.S. marketorA county marketorCustomize a marketusing zip codes.Well select New York.Competitive Market Analysis for MensCustom Shirt Stores (Retail)DRAFT 38. Next, select afinancial benchmarkgroup for yourCompetitive MarketAnalyzer.Selecting all salesclassesCompetitive Market Analysis for MensCustom Shirt Stores (Retail)DRAFT 39. Choosing a marketpeer group meansdeciding whether tosearch all menscustom retail shirtstores or just thosewith under 25employees (smallbusinesses).Competitive Market Analysis for MensCustom Shirt Stores (Retail)DRAFT 40. Before you run thecompetitive marketanalysis BizMinergives you the chanceto review yourselections.Here you are runningan industrywidecompetitive analysison mens retailcustom shirt stores inthe State of New Yorkfor small businessesonly.Competitive Market Analysis for MensCustom Shirt Stores (Retail)DRAFT 41. DRAFTThissearchapproachis effectiveif youknow theNAICScode foryourindustry. 42. Finding the NAICS CodeNorthern American Industry Classification SystemDRAFT 43. DRAFT 44. DRAFT 45. DRAFT 46. DRAFT 47. DRAFT 48. For more info.Make a research appointment with a librarian (click here)!