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Entrepreneur Opportunities and Global Success from Puerto Rico

Entrepreneur Opportunities and Global Success from Puerto Rico . Luis David Soto. Today’s Entrepreneur’s Global Challenges. Current Economy Globalization Supplier Base Consolidation Procurement’s new roles & responsibilities Changes in Supply Chain Demands. Entrepreneur.

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Entrepreneur Opportunities and Global Success from Puerto Rico

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  1. Entrepreneur Opportunities and Global Success from Puerto Rico

    Luis David Soto
  2. Today’s Entrepreneur’s Global Challenges Current Economy Globalization Supplier Base Consolidation Procurement’s new roles & responsibilities Changes in Supply Chain Demands
  3. Entrepreneur Supplier's Internal Challenge to Address Globalization Technical
  4. The Hard Part… “Turning scientists into entrepreneurs”
  5. How do you standout in a group?
  6. How do you standout in a group?
  7. Some core competences … Technical Mathematics Analytical Physics Pass or fail Innovation Entrepreneur Brand Recognition Sales Process Managing Growth Financial Innovation
  8. Core competences Technical Mathematics Analytical Physics Pass or fail Innovation Entrepreneur Brand Recognition Sales Process Managing Growth Financial Innovation
  9. Entrepreneurs to do list…. Brand Recognition Sales Process Managing Growth Financial Innovation
  10. Why are we here? How do I position my Brand Recognition? Decision-makers on a Sales (Buying) Process Options to Manage Growth Major Financial differences Innovation

  11. Brand Recognition

  12. Positioning Your Brand Reference: American occupational therapist website What Business are you in? What is a brand? A brand is not a name or a logo. It is not a product, service or business. It is a promise, an expectation and ultimately an experience. The strongest brands in the world own a place in the consumer’s mind and when they are mentioned almost everyone thinks of the same things.
  13. What Business are you In? Product Oriented or Customer Oriented?
  14. What Business are you in? Business Definitions Product-Oriented Customer-Related Firm Missouri-Pacific Railroad Xerox Standard Oil Columbia Pictures Encyclopedia Britannica Revlon JP Morgan
  15. What Business are you in? Business Definitions Firm Missouri-Pacific Railroad Xerox Standard Oil Columbia Pictures Encyclopedia Britannica Revlon JP Morgan Product-Oriented We run a railroad We make copying equipment We sell gasoline We make movies We sell encyclopedias We make cosmetics We offer financial advice
  16. What Business are you in? Business Definitions Firm Missouri-Pacific Railroad Xerox Standard Oil Columbia Pictures Encyclopedia Britannica Revlon JP Morgan Customer-Oriented We are people and goods movers We help improve office productivity We supply energy We make entertainment We distribute information We sell hope 360 degree relationship
  17. What Business are you In? Product Oriented or Customer Oriented?

  18. Am I speaking the right language?

  19. Project Description
  20. Project Description
  21. … evaluate what language you are speaking? Review your business material…
  22. Mercedes Benz Advertising Subaru has better safety rating than Mercedes Benz Toyota has better fuel economy than Mercedes Benz Lexus has more luxury equipment than Mercedes Benz Honda average reliability is better than Mercedes Benz Infinity interiors are more comfortable than Mercedes Benz
  23. Mercedes Benz Advertising It is good to be the standard!
  24. Mercedes Benz Advertising Lessons Learned Be careful of marketing the competition: “ We provide the same service like XYZ Company” Create a differentiator: “ Our company is unique in________” “Our company creates value by_______”

  25. Sales/Buying Process

  26. Identify Buying Decision-makers How many types of buying decision-makers are there?
  27. Identify Buying Decision-makers ECONOMIC USER TECHNICAL COACH There are Four Buying Decision-makers:
  28. Identify Buying Decision-makers Economic buying influence Role: To give final approval to buy Only one per sale, but may be a set of people such as a team, board, or committee Controls expenditure Authority to release Discretionary use of resources Veto power Focus: Bottom line and impact on organization Asks: “What return will we get on this investment?” “How will this impact our organization?”
  29. Identify Buying Decision-makers User buying influence Role: To make judgments about impact on job performance Often several or many Use or supervise the use of your product/service Direct link between User’s success and the success of your product or service Personal since User will live with your solution Focus: The job to be done Asks “How will it work for me in my job or my department?”
  30. Identifying Buying Decision Makers Technical buying influence Role: To screen out Often several or many Judge measurable, quantifiable aspects of your proposal Gatekeepers Can’t give final approval Can say no based on specs or technicalities Focus: Match to specifications in their areas of expertise Asks: “Does this meet the specifications?”
  31. Identify Buying Decision-makers Coach influence Develop at least one!!!! Role: To act as guides for this sales Provide and interpret information about: validity of this single sales objective other buying influences other elements of your Strategic Analysis Can be found: in buying organization in selling organization outside both Focus: Your success with this proposal Asks: “How can we ensure that this solution happens?
  32. Buying influence chart
  33. Buying influence chart
  34. Reference
  35. Modes to Growth
  36. Financial Learn how to read financial statements Don’t be afraid of financing (loans/credit lines) Understand cash flow Become familiar with financial language
  37. Innovation Is innovation part of your company’s strategy? How many resources are dedicated to innovation? How many new products and/or services does my company create a year? Push-pull products Does my company reward innovation? Customers are constantly looking for innovation
  38. Questions
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