MGT253 - Owning and Operating a Small Business

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Market Segmentation: Is the process of subdividing a market into distinct groups of customers with similar needs, such as:

• Geographically
• Demographically
• According to age, race, gender, education, religion
• Psychographically (according to interests, attitudes, opinions and needs)
• Behavioristically (according to usage patterns, history, responsiveness or loyalty)

Using Claritas.com to obtain Zip-Code Market Segmentation Information:  Claritas.com provides demographic and consumer segmentation profiling data taken from the U.S. Census - to learn more about the consumer lifestyles of people who live in your neighborhood, click on the following links:

• Claritas Zip Code Lookup 
  Enter your zip code area where you are setting up your business or to target an area you wish to sell. Enter the ZIP CODE to learn about the demographics and lifestyles of consumer segments in your neighborhood.
• Claritas - Segment Details - 68 consumer type segments about who your consumer is about.  Check it out

The Business Plan (26:39)

This program spotlights two very different small-business owners—a physical therapist and a performance artist—who have something very important in common: a business plan. 

The StartUp Experience (25-part series, 53–87 minutes each)

Covers financial advisory, garden center, bookstore, wine shop, land appraisal, pet day care and training, franchise, residential real estate, insurance agency, home building, home health care, salon, wind energy, cosmetics, produce farm, internet marketing, bed and breakfast, consulting and training, commercial real estates self-storage, restaurant, buying and managing rental properties, catering, selling products online businesses.

Evaluating Business Performance: Small Business Case Studies ( 31:27)

 How do company owners and managers measure the health and viability of their businesses? This program addresses that question, illustrating processes by which an entrepreneur can evaluate the performance of his or her enterprise and make decisions that will improve its future performance.

 Formulating a Business Plan: (30:00)

A good business plan is a roadmap to success. The three modules of this program look at the process of creating a business plan from three different perspectives: the transformation of an idea into a marketable product, the determination of financial feasibility, and negotiation with potential investors. 

• US Small Business Administration

  Start-up FAQs, kits, information on government loans, and locations of local SBA centers.

• Entrepreneur.com Starting a Business

  Current, helpful info from Entrepreneur magazine, including how to write a business plan, obtain financing, etc.

• SCORE: Small Business Mentoring and Training

  Business advise from the Service Corps of Retired Executives. Includes online workshops and seminars, as well as a zip-code locator for a mentor in your area.

• Startup Nation: Source for Small Business Advice

  A great resource for entrepreneurs, includes community space, articles, podcasts, online seminars and other information on all things small business.