MICRO ENTERPRISE 101 Maggie Phiri Ron Irvine Micro Enterprise Specialists

MICRO ENTERPRISE

101

Maggie PhiriRon Irvine

Micro Enterprise Specialists

HISTORY AND BACKGROUND

Traditionally, the business sector had been categorized into three groups: large, medium, and small.

The U.S. Small Business Administration (SBA) defines a small business as having up to 500 employees.

In 1991, the SBA recognized Micro Enterprise (ME) as a separate category of business because of growing interest. (see Fact Sheet on Micro Enterprise)

Source: INNOVATIONS IN MICROENTERPRISE DEVELOPMENT IN THE UNITED STATES, Accion USA, 2006

LOCAL HISTORY

In 2005, Network 180 started the Micro Enterprise Program in Kent County.

It assists individuals with developmental disabilities to start their own businesses.

It is an alternative way for individuals to earn income.

Network 180 provides a startup loan of up to $500 for those that need it.

ORGANIZATIONS INVOLVED

Thresholds, Inc.

Spectrum Community Services

MOKA Corporation

Hope Network

Goodwill Industries International, Inc.

TRAINING PURPOSE

To provide tools and resources needed to be successful in ME

To clarify the business development process Business Concept Feasibility Assessment & Interest Survey Market Research (product and customers) The Business Plan Marketing and Sales Expansion (if desired)

SUPPORT NETWORK

ME starts with a Person Centered Plan (PCP) with the individual at the core

Each support network includes: Direct care staff Family and other natural supports Supports Coordinators ME Specialists Community

SUPPORT NETWORK

Me

Direct Staff

Family & natural supports

SUPPORT NETWORK

Me

Supports Coordinator


Direct Staff


SUPPORT NETWORK

Me

Community and its resources

Churches, neighbors, friends, relatives



Direct Staff


SUPPORT NETWORK

Me

BUSINESS CONCEPT

Identify the business concept

Is the product/service something people want to buy?

Is the product/service unique or different?

Does the product/service match the person’s interests and abilities?

FEASIBILITY

Every business starts out in a feasibility phase. What parts of the business can they do

independently? What do they specifically need support with? Is this what the individual really wants?

Does it involve the kind of work they want to do? Is the person driven or passionate about the business

concept? Who’s idea is it?

FEASIBILITY





Really?

FEASIBILITY





Really? No, Really?

MARKET RESEARCH

Market surveys A list of questions to ask potential customers

Would you buy this product/service? How much would you pay for it? Customer preferences:

styles/colors/flavors/sizes/etc.

Determine the target market Test the market

Make samples Sell to customers (family, friends, community)

THE BUSINESS PLAN

It is a detailed report of all aspects of the business creating a step-by-step action plan.

The findings from the market research are recorded in the business plan.

It is a working document that can be used throughout the business development and growth.

It also shows Network 180 that the business has been well thought out and planned prior to requesting funds.

MARKETING AND SALES

Marketing is “. . . a set of processes for creating, communicating, and delivering value to customers . . .”

(American Marketing Association)

Sales are vital for every business because that is how a business generates income.

MARKETING AND SALES

In marketing, “perception is reality” Name Logo Price Packaging Display Consistent message throughout all

marketing materials

MARKETING AND SALES

People (Target Market)

Product/Service

Price

Placement (Distribution)

Promotion (Sales)

MARKETING AND SALES

Ideas from ME Club Flyers Newspaper Open House Word of mouth Church and Agency Newsletters Press release, i.e. TV, radio, newspaper Craft shows, indoor flea markets, and farmers’ markets Carry business cards, product lists, and samples in the

community Walking Billboard - Put business information on leather

jacket or t-shirt Bulletin boards at the grocery store, restaurants, coffee

shops, and churches

EXPANSION

What are your short term goals? Where do you see your business in one year?

What are your long term goals? Where do you see your business in 3 to 5 years?

Expand the customer base

Expand/diversify your product/service

WHAT NEXT?

Please refer to the necessary forms in your ME Folders.

MICRO ENTERPRISE STEPS

Interested Person

Direct Staff



Feasibility Assessment(includes market research)

Write the Business Plan Continue Feasibility Phase


Interested Person

Direct Staff






Interested Person

Direct Staff






Interested Person

Direct Care Staff






Interested Person

Direct Care Staff






Interested Person

Direct Staff





Yes


Interested Person

Direct Staff





Yes ???

ME RESOURCES

ME Specialists ME Club (next meeting Jan. 6, 1:00 to 2:00 Rm. 1-F) ME Committee (monthly, 3rd Wednesdays, 2:00) The ARC of Kent County

Call for benefits planning before submitting a business plan This ensures that you do not loss your SSI or Medicaid

benefits as you increase your income Contact Maggie Kolk 459-3339

Estate Sales Warehouse: sell your products 7 days per week without being there!

Near future: on-line sales (Spearia: an on-line marketing company)

Davenport University: ME is the DU Cares project for the year

THANK YOU FOR COMING

Maggie Phiri MOKA Corporation (616) 301-2218 [email protected]

Ron Irvine Hope Network (616) 726-1976 [email protected]

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Any questions?

Please feel free to contact us at any time.

Documents

MICRO ENTERPRISE 101 Maggie Phiri Ron Irvine Micro Enterprise Specialists