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It is amazing how cell phones have seemed to take over our lives. Think about it.

What is the first thing you check for when you are leaving your house in the morning? Your cell phone. It seems like we can’t even function without them. But, with technology continuously growing, I guess we don’t have a choice. All of the mobile applications available for download on cell phones allow our phones to act like our calendar, our computer, our personal assistant, and our social connection all at the same time.

I remember when I was in high school and cell phones had those computerized ringtones. Mobile applications have advanced to the place where you can now hear your own voice in your ringtone.

There also seems like there is a mobile app for everything! Even unnecessary things. I was at work the other day and one of our interns had a mobile app that made farting noises! Absolutely ridiculous! But, most importantly, mobile applications help up to improve our efficiency during the day. Business create mobile applications to make purchasing products more convenient for their customers. I have the CraigsList application on my phone that I use just about every day. Facebook, Twitter, and Foursquare are also applications that I have installed onto my phone that I use almost daily. While these three companies don’t necessarily sell a specific product, the advertisements that they display on their websites make them money. The mobile applications help them to increase their count of how many people are actively using the sites, therefore helping their case in demanding higher prices for advertisement space.

Mobile applications are not necessary and will not work for every business, but with the right product or service, providing customers with direct access to your business can help you out tremendously. Mobile applications typically work for larger corporations that have a lot of repeat customers. It could also work for a business providing some type of software or technological service and also for a smaller company that thrives within a niche category!

Have fun with your apps! They are great tools!

~*Love, Peace, & Radio*~

I came across a website that fits in perfectly with the financial aspect of my business venture, Moguls in the Making. The Coalition of Community Development Financial Institutions (CDFI) is an organization that “serves economically distressed communities by providing them credit, capital and financial services that are often unavailable from mainstream financial institutions.” This is great for Moguls in the Making because our business structure is setup to serve underprivileged youth. These underprivileged youth live and grow up in economically distressed communities; the exact places where I will start, build, and grow the Moguls in the Making locations.

The financing opportunities discussed within this website include loans that have been built to tailor business plans directed towards the development of underdeveloped communities. The only thing I don’t like about this website is that it does not offer information regarding grant opportunities. I understand the CDFI’s are actual financial institutions that are built to distribute only loans, but they should consider offering grant opportunities as well. Since they are already established financial institutions, it should not be that hard to obtain government funding to provide grants.

In order to receive funding from a CDFI, you must of course first fill out an application. In order to be approved for the funding you must meet several of their criteria, which include:
• Have a business focused towards community development
• Have a need for funding
• Have a business that is serving a specific target

Through CDFI.org I also learned all about the history of CDFI and Bill Clinton’s influence and implementation of providing funds for the program. The website also talks about the importance of community focused programs/businesses and how they provide a positive impact on our society. The CDFI also provides information about how receiving funds from the CDFI is different from receiving funds from other financial institutions.

All of the information that you may need about receiving funding for your business can be easily found on the web.

Happy searching!

~*Peace, Love, & Radio*~

After spending time with the BP Expert Views blog a couple of weeks ago, it allowed me to think differently about how to put my business plan together. William Sahlam and Michael Porter were featured in this blog, and they both taught me that investors are looking for the basics when deciding whether or not to help fund your project. While putting together the different parts of my business plan this month, I tried to keep this in mind by making sure not to introduce any new high-level ideas throughout it. I made sure to re-iterate the purpose and goals of Moguls in the Making, and always tied them back to whatever topic I was explaining at the time. I think this will help to keep the investor focused on only a few main things and not get confused with too many small details. I was sure to address all of the necessary topics, but did it in such a way to not distract the reader.

The sections that I feel are most important to the investor are the Industry Analysis, Market Description, and Management and Organization. The Industry Analysis is important because it allows to investor to see whether or not the industry as a whole is capable of producing results for a new business entering into it. It allows the investor to see how well other businesses within that particular industry are doing. The Market Description allows the investor to see how well potential clients will accept the products and/or services of the new business. This allows the investor to make a direct correlation to how successful sales will be. Finally, the Management and Organization is important because it shows whether or not the management team is qualified and capable of directing and managing the business.

When fine-tuning your business plan, make sure to provide a clear and consistent theme throughout it. Also, make sure to figure out which sections you feel are most important and make them your best. Become comfortable with them so that you can express your passion about your business to potential investors through the sections that you know best.

Good Luck!

~*Love, Peace, & Radio*~

References

Burhoe, Steven (2011). Expert Views on Busines Plans. Retrieved on September 7, 2011 from Bpexpertviews.blogspot.com

Sahlman, William (1997). How to Write a Great Business Plan. Retrieved on September 7, 2010 from http://www.google.com/search ?hl=en&source =hp&biw= 1440&bih=715&q=how+to+write+a+great+business+plan+sahlman&oq=how+to+write+a+great+business+plan&aq=2&aqi=g6&aql=&gs_sm=e&gs_upl=692l4748l0l6850l34l19l0l6l6l2l933l5263l1.1.3.0.5.2.1l13l0

Institute for Strategy and Competitveness (2008). On Competition, Updated and Expanded Edition. Retrieved on September 7, 2011 from http://www.isc.hb s.edu /On_Competition.htm

How many times have you been awake late at night thinking about a business venture that you wish you had the courage to go through with? I know this has happened to me often. The best thing to do when you have these ideas is to write them down, then start a business plan for the one that you like the most. Composing a business plan may seem like a daunting task but, the internet is a vital source to gather all of the data needed to impress potential investors. One of the first things you should do is read up on information posted by leaders and professional who are experts in creating business plans. I’ve recently learned about two people who are great at teaching others how to write the best business plans. Some of the information that I learned can be found below.

According to bpexpertviews.blogspot.com, William Sahlam has an impressive background and resume (¶ 52). Besides the fact that he has degrees from Princeton and Harvard, two of the most highly respected schools in the nation, he has also sat on the board of several different for-profit and non-profit organizations. I greatly respect his commitment and involvement in non-profit organizations because of my desire to one day start one of my own. Sahlman also published a book titled “How to Write a Great Business Plan.”

Also on bpexpeertviews.blogspot.com, I was introduced to Michael Porter, who currently holds the highest faculty recognition at Harvard University as the Bishop William Lawrence University Professor. In his book titled “On Competition” he stresses the importance of being knowledgeable about your competition. He exlplains how healthy competition can lead a company to success through several different avenues.

Through reading about just these two men and their accomplishments, I have learned that investors are interested in the basics when decided whether or not they will give a chunk of their money to you. These things include:
• The People – Employees
• The Opportunity
• The Context
• Risk and Reward
• Competition

References

Burhoe, Steven (2011). Expert Views on Busines Plans. Retrieved on September 7, 2011 from Bpexpertviews.blogspot.com

Sahlman, William (1997). How to Write a Great Business Plan. Retrieved on September 7, 2010 from http://www.google.com/search ?hl=en&source =hp&biw= 1440&bih=715&q=how+to+write+a+great+business+plan+sahlman&oq=how+to+write+a+great+business+plan&aq=2&aqi=g6&aql=&gs_sm=e&gs_upl=692l4748l0l6850l34l19l0l6l6l2l933l5263l1.1.3.0.5.2.1l13l0

Institute for Strategy and Competitveness (2008). On Competition, Updated and Expanded Edition. Retrieved on September 7, 2011 from http://www.isc.hb s.edu /On_Competition.htm

I realized the other day that I am very close to being done with my coursework at Full Sail University. I can't believe this year has gone by so fast. I have learned about so much throughout my studies, and how fitting is it that my last class is tailored towards learning about how to market your company through the internet. Going online and researching different companies and their product offerings is quickly becoming the norm. According to the Business Opportunities Weblog Network, about 58% of people do online research before purchasing a particular product, up from 49% in 2004. These numbers prove that people rely on the internet much more to gain information about consumer products and services. This piece of information is great for people starting up business that are only online based, or for people that are going to rely heavily on the internet to market the product or services they will be offering.

Some of the things that I have learned throughout this course that will help to ensure that your internet marketing will be successful is the following:
• Keep your website, blog, social networks, etc updated frequently
o Search Engine Optimization (SEO) workds off of how often websites are updated. The more you update your website, the better chance you have at being at the top of a search engine list
• Use specific keywords and key phrases throughout your website, blog, social networks, etc.
o Making sure that you are using keywords and key phrases that relate to your product or service offerings often enough (but not too often), will also help you get to the top of a search list

These of course are not the only things that you should be doing to optimize the effectiveness of your website, but they are great starting points. If you are interested in learning more just do a quick google search! While you are learning more about how to market your business on the web make sure to pay attention to the website you are learning from. How exactly are they teaching you? Do you see any trends? How easy to read is the website? What about the layout?
Take some of the positives and apply it to your own site!

~*Peace, Love, and Radio*~

References: http://www.business-opportunities.biz/2010/09/30/more-shoppers-doing-research-online-before-buying/

Digital Marketing for Non-Profits

We all know that the use of the internet and other digital resources is extremely important within the entertainment industry, but the increase in technology for research has proven that digital marketing is also very important for non-profit organizations.

Google AdWords
The use of Google AdWords is very useful for non-profits. Google AdWords allows the name of your organization and a link to your website to be listed under the “sponsored links” section of the search page. This is important because it allows your business and information to pop up first. As a non-profit it is important to gain as many followers and advocates as possible in order to raise funds to keep your business thriving. In the case of Moguls in the Making, I would use key words like youth, entertainment, career, and mentor. These words are most important because they, in a nutshell, describe what I am aiming to accomplish throughout the duration of the existence of Moguls in the Making. Take a look at

http://www.slideshare.net/GeorgianneBrown/digital-marketing-amp-your-non-profit

it allows you to get a better understanding of why digital marketing makes so much sense for a non-profit organization. It is sometimes hard to understand why non-profits even need money, hence the name “non-profit” but through fundraising and donations they are able to thrive.

Google Grants
Another thing I learned about on this site was about Google Grants. This is a program that non-profit organizations apply to in order to receive a free subscription to Google AdWords. This allows for absolutely free marketing if your organization is chosen to participate: 100% return on investment. No matter what type of business you are deciding to open it is always important to market it. People need to know you exist, and for any business the more people that know about you the better!

Happy Marketing!

~*Love, Peace, and Radio*~