Reflections

Reflections

The first time I enrolled in college I was 18 and fresh out of high school.  I completed one semester and decided that college was not for me.  I was a single parent and I had more than myself to think about, so I got a job.  It was good being able to work and make my own money, but I felt as if something was missing.

During my time off from school I had several family members to graduate from high school, start college, and finish with a degree.  As I found myself being supportive and congratulating them, I realized what was missing, my degree.

At the time I decided to return to school I had started working for Head Start.  Because I was working in an educational environment, in order to keep my job I was required to get a certificate basically saying I was competent to be working with children.  I wanted more and a certificate of competence, I went for the next best thing; my first degree.  I re-enrolled in school to earn my Associates Degree in Early Childhood.  It felt good knowing that years later I had become a family member being supported and congratulated for an academic achievement.  I then felt that that was not enough, I wanted more. So I decided to return to school to get by Bachelor’s Degree, this time in Business Administration.

This journey has not been an easy one. In my pursuit of higher education I have had many problems and setbacks.  Half way through my program class were added that I was not aware of in the beginning, thus extending the time I would be in school.

In this course I have learned a lot about business.  What it takes to start one and keep it going.  I have learned how to get my ideas out to the public, and make them want to be a part of what I have to offer.  The things that I have learned in the course are things that are transferable into other parts of my life, from school to work.

Becoming an Entrepreneur

Becoming an Entrepreneur

Why do people become entrepreneurs?  According to Scott Shane, most people become entrepreneurs because they want to be their own boss.  When comparing compensation, job stress, and hours worked of employees and entrepreneurs, the sat are not equal.  People who work for themselves tend to work more hours during the week, more stressed and exhausted, and can earn less money.  Though the numbers may not add up, being your own boss is considered a grater job satisfaction for entrepreneurs.

Knowing that being your own boss can be stressful and pay less, why would you still want to start your own business?  I discussed the idea of starting a business with my cousin, who is going to school for education in hopes of teaching, here is what she had to say.

“I enjoy children.  Getting an education is one of the most important things that a person can do.  For the last ten years, I know that I have wanted to start my own business.  I love working with children and knowing that I am teaching them something new, and providing them with good life experiences. But seeing as I and unable to find employment doing what I love to do, the next thing for me would be to move forward with starting my own business.”

As you can see, she has great passion for children and education.  But having the passion for something is not enough to start a business.  When starting a business you must first have determination, motivation, and know-how.  Darrell Zahorsky provides nine essential steps for starting a small business.

1. Identify your business opportunity
2. Build a business plan
3. Find start-up money
4. Name your business
5. Choose a business structure
6. Get you business license and permits
7. Set up and determine you r business location
8. Get business insurance
9. Create an accounting system

Since careful planning is fundamental to success.  A great resource for starting a business is the U.S. Small Business Administration (SBA).  The SBA provides future entrepreneurs with information to help them become successful in starting a business.

            According to SBA you need to plan for all stages of your business cycle.:

1. Plan your business
2. Start your business
3. Manage your business
4. Getting out

References:

Starting a Small Business 101: The Essential Steps, By Darrell Zahorsky, www.about.com

U.S. Small Business Administration, www.sba.gov

Why Do People Become Entrepreneurs? By Scott Shane, www.usnews.com

Product Placement

Product Placement

 

According to CommonDreams.org, by the end of 2004, there were an estimated 6.5 million homes with digital recorders.  With the increase in DVRs consumers are less likely to view commercials and skip through them. More than two-thirds of DVR users skip commercials.  So, with the fact that most consumers are skipping commercials, advertisers had to come up with ways in which to get their products noticed.

 

Product placement is a form of advertisement, it is showing a brand name product in a feature film, television program, or other medium not typically perceived to be an advertising medium. The marketer sometimes pays a substantial fee for the placement. In other cases, the producers consider the product to be an integral part of the plot and merely request permission from the marketer. The marketer benefits from exposure to a large audience in an environment that is perceived to be objective.

 

Some companies consider product placement as alternate advertising. According to Premier Entertainment Services International, Product placement breaks through today’s cluttered media environment. Builds awareness and brand loyalty, expands reach, increases frequency of exposure, is cost effective, provides “soft-sell” through positive association, features products in an environment free of commercial zapping, and provides implied endorsement of your product by a celebrity.

 

The cost of product placement does not come cheap.  The average cost of placing an ad on ABC, NBC, CBS, and Fox is about $175,000 for a 30 second ad.  Most companies invest in an advertisement plug that cannot be skipped along with purchasing ad space.  CommonDreams.org also stated that Volkswagen will spend $200 million over three to five years to place its cars in Universal movies and in TV shows and ads on NBC, Bravo, Sci Fi and USA.  With the average cost of a national prime time spot running $185,000, coupled with the cost of $343,000 to produce the average 30 second spot, product placement is a much more cost-effective proposition.

 

Examples of product placement according to Listverse (ultimate top 10 lists)

1. Reese’s Pieces in E.T
2. Pepsi  in Back to the Future
3. Subway in Happy Gilmore
4. The Miami Dolphins in Ace Ventura: Pet Detective
5. Mello Yello in Days of Thunder
6. FedEx in Cast Away
7. Dodge in Twister
8. Mercedes Benz in The Lost World: Jurassic Park
9. Apple Computer in Mission Impossible and Independence Day
10. Taco Bell in Demolition Man

 

References:

Answers.com http://www.answers.com

Common Dreams http://www.commondreams.org

Listverse http://listverse.com

Premier Entertainment Services International http://www.pesfilmtv.com/product.html

Advertisement/Advertising

Advertisement/Advertising

Advertising is one of the most important things present in our society today.   Advertising is a form of communication intended to persuade an audience (viewers, readers or listeners) to take some action. It includes the name of a product or service and how that product or service could benefit the consumer, to persuade potential customers to purchase or to consume that particular brand.

It helps to keep the consumers informed about whatever new products or services are available in the market at their disposal. It also helps to spread awareness about products or services that are of some use to consumer and potential buyers.  Many believe the main aim of advertising is to sell. These are the people who strongly oppose anything that makes advertising seem unethical. Advertising on the whole helps business as well as the economy to prosper and makes the consumer aware of the various choices that are available to him.

An advertising technique used to promote commercial goods and services can be used to inform, educate and motivate the public about non-commercial issues, such as HIV/AIDS, political ideology, energy conservation and deforestation are called PSA or Public Service Announcements(Advertising).

There are several types of advertising.  Practically any medium can be used for advertising.  Methods of advertising include:

• Television
  • Infomercials -a long-format television commercial, typically five minutes or longer
  • Radio advertising
  • Press advertising
  • Online advertising
  • Billboard advertising
    • Mobile billboard advertising- generally vehicle mounted billboards or digital screens
    • In-store advertising
    • Covert advertising- also known as guerrilla advertising, is when a product or brand is embedded in entertainment and media
    • Celebrities

 

References

Blurt It, www.blurtit.com

Wikipedia, http://en.wikipedia.org