General Business BUS206 Lecture Notes - Lecture 2: Industrial Design, Embezzlement, Burglary
5 Jun 2018
School
Department
Course
Professor
Who Is My Competition?
Direct competition
Indirect competition
Assessing competitors
⚫ Experience
⚫ Primary
⚫ secondary
How Much Business Will My Firm Get?
Sales Forecast
Sources
⚫ Industry statistics
⚫ Customer buying intentions
⚫ How long it takes to get customers
⚫ Expert opinion
⚫ How much business the competition gets
⚫ All the business out there
⚫ The amount the firm can handle
How Much Business Will My Firm Get? cont’d.
Sales Forecast (cont’d.)
Level of detail
⚫ The greater the financial risk the greater the detail
Other considerations
⚫ Personal knowledge
⚫ Test marketing
⚫ Length of sales cycle
⚫ 3 year forecast
How Can I Protect the Business?
Small Business Insurance
⚫ Broker
find more resources at oneclass.com
find more resources at oneclass.com
