6 answers
Chelsea
Student
New York, NY
3
Questions
Asked
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When you want to do business how do you make sure what your providing is different?
I’m a high school student and I find it creative and interesting to have something of your own that you can have control over. Bringing something out to the world the can help the people is important.
#business
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6 answers
Laura Stringer
Digital product management advising & consulting
2
Answers
Somerville, New Jersey
Updated
Laura’s Answer
Linda has a great point, that the *way* you provide your product or service can be just as much of a differentiator as the product or service itself. You can stand out with phenomenal customer service, a different kind of "vibe" to the brand, all sorts of things.
To make sure you're truly not just reinventing the wheel, you'll need to do some research. Once you figure out what you want your company to do, you can start to look into who your market might be - that is, who is most likely to buy from you. Then go talk to those people. What specifically are they looking for? And better yet, what do they need that current companies aren't doing for them? What problems do they have that you could solve?
Then do some research into your competition. What companies are already trying to solve this problem and how are they doing it? What are they missing, that you could provide?
It's worth working in your chosen field for a while, to learn more about the industry. That way, you can get a better idea of what you want to provide and how you might do it. You'll also make connections with people who may be able to help you out along the way.
To make sure you're truly not just reinventing the wheel, you'll need to do some research. Once you figure out what you want your company to do, you can start to look into who your market might be - that is, who is most likely to buy from you. Then go talk to those people. What specifically are they looking for? And better yet, what do they need that current companies aren't doing for them? What problems do they have that you could solve?
Then do some research into your competition. What companies are already trying to solve this problem and how are they doing it? What are they missing, that you could provide?
It's worth working in your chosen field for a while, to learn more about the industry. That way, you can get a better idea of what you want to provide and how you might do it. You'll also make connections with people who may be able to help you out along the way.
Thank you very much
Chelsea
Michael Bernier
Field Sales Executive
2
Answers
New York, New York
Updated
Michael’s Answer
From FDX Sales - Mike and Matt - Field Sales
So you are a HS student thinking about your future? Matt and I know about that as we were in your shoes as well before we starting working for FedEx. I will start with answering, "As I get older what are things I can do now to set myself up for the adult life"
Think about your personal finance. Do you have a bank account? How do you manage your money? Do you have a savings? Checking account? How about an investment into a CD or Stock? Its never to early to manage your own finances. We see you are on career village but what about Linkedin? There are forums and areas to post questions to speak to industry related executives. How about indeed? You can go there and do a search on what kind of jobs are available and see what interests you. Can you see yourself doing that job? Is that an industry that you are interested in? One major decision you can make while you are in college is an internship. This will give you on the job experience while you are working towards your degree. This will also help you decide if this is the industry or job you want to continue with after you graduate. Internships are major resume builder for hiring managers. This internship experience will give you more info to make big decisions moving forward in your career.
To answer your question about how your business provides something different we will start with asking what have you done to find out if this business is right for you? What motivates you? What are you passionate about? Are you looking to do a retail store or ecomm? Have you researched the market to see how it's trending? Did you find need in the market for a product or service? Who will be the target customer market? How will you finance your business? Who will invest into your start up or business investment? Social Media outlets like YouTube and IG influencers promote products to a large audience of followers. Who will be your competitors and what value does your product or service provide different from your competitors? How are you going to market your brand? We recommend attending Local Events, start Social Media campaigns, and send direct mail to prospective customers, all to attract more potential new customers.
So you are a HS student thinking about your future? Matt and I know about that as we were in your shoes as well before we starting working for FedEx. I will start with answering, "As I get older what are things I can do now to set myself up for the adult life"
Think about your personal finance. Do you have a bank account? How do you manage your money? Do you have a savings? Checking account? How about an investment into a CD or Stock? Its never to early to manage your own finances. We see you are on career village but what about Linkedin? There are forums and areas to post questions to speak to industry related executives. How about indeed? You can go there and do a search on what kind of jobs are available and see what interests you. Can you see yourself doing that job? Is that an industry that you are interested in? One major decision you can make while you are in college is an internship. This will give you on the job experience while you are working towards your degree. This will also help you decide if this is the industry or job you want to continue with after you graduate. Internships are major resume builder for hiring managers. This internship experience will give you more info to make big decisions moving forward in your career.
To answer your question about how your business provides something different we will start with asking what have you done to find out if this business is right for you? What motivates you? What are you passionate about? Are you looking to do a retail store or ecomm? Have you researched the market to see how it's trending? Did you find need in the market for a product or service? Who will be the target customer market? How will you finance your business? Who will invest into your start up or business investment? Social Media outlets like YouTube and IG influencers promote products to a large audience of followers. Who will be your competitors and what value does your product or service provide different from your competitors? How are you going to market your brand? We recommend attending Local Events, start Social Media campaigns, and send direct mail to prospective customers, all to attract more potential new customers.
Linda Francis, CTAL-TM, CTFL-AT
(ESQA) Manage a team of off-site software testers.
14
Answers
Quakertown, Pennsylvania
Updated
Linda’s Answer
Hi Chelsea - I think what you are referencing is a 'niche' or specialized market. Use the internet to research your service or product to determine the availability and how it is delivered. You may come up with an ordinary product or service, but you are different because of the way you deliver it or provide a unique warranty or guarantee. For example - look at LL Bean. They sell clothing, outdoor goods, home goods, etc. Many companies do that. LL Bean made themselves different because of their guarantee to take returns anytime and with no questions asked.
If your product is ordinary, place a lot of emphasis on what is different between you and your competition. Be creative. If you are having trouble, try doing surveys with options. Find out what people want. Think long-term. Build it into your business plan and make it part of your mission statement.
Best wishes!
Linda
If your product is ordinary, place a lot of emphasis on what is different between you and your competition. Be creative. If you are having trouble, try doing surveys with options. Find out what people want. Think long-term. Build it into your business plan and make it part of your mission statement.
Best wishes!
Linda
Thank you very much
Chelsea
Bob Burton
Consultant
65
Answers
Austin, Texas
Updated
Bob’s Answer
You may wish to think relative to the "value proposition" that you are offering. Basically, you might ask yourself, what is unique about the product or services you are offering? What problems are to be solved? Do the problems, once solved, offer significant value to the customer? How many people or companies have this problem? Are the problems incurred by local, regional, country wide or global in scope? Similarly, are you offering substantial value to your customer or client, value they are willing to compensate you for? Is it a product or service that no one else offers or is it a significant improvement to products or services now available in the marketplace? Is it easily reproduced by others or are you able to establish a barrage of copyright or patent protections? Will you be the first to market?
The value you offer may be a creative software application, a unique service or services, a significant quality improvement, a better solution at a more reasonable price, a totally new category of product(s) or services that combine the functions of many products or services into one. You will also need to consider if your product or service is reproducible. Can it easily, in volume, be manufactured and distributed? Do you need a partner to do this?
Then, you would want to consider your business model? How would you structure your business and finances? Here, you might consider a 'Funding Plan". This is a plan that roughly lays out what you know, what you think your know and what you need to research before you build your 'Business Plan". Is your product or service so compelling that family, friends or others are willing to loan you money to start a business?
If you attend university, take summer intern jobs in the industry you wish to pursue with your new business ideas
Once graduated from university, join a small entrepreneurial firm that offers products and services in the market you wish to enter with your own products or services
Speak with potential customers as to what problems they have that keep them awake at night. Problems that must be solved or business will cease to grow or prosper.
Attend trade shows in the industry you have an interest in. Visit small companies who have a different vision of the future than entrenched corporations
The value you offer may be a creative software application, a unique service or services, a significant quality improvement, a better solution at a more reasonable price, a totally new category of product(s) or services that combine the functions of many products or services into one. You will also need to consider if your product or service is reproducible. Can it easily, in volume, be manufactured and distributed? Do you need a partner to do this?
Then, you would want to consider your business model? How would you structure your business and finances? Here, you might consider a 'Funding Plan". This is a plan that roughly lays out what you know, what you think your know and what you need to research before you build your 'Business Plan". Is your product or service so compelling that family, friends or others are willing to loan you money to start a business?
Bob recommends the following next steps:
Thank you so much
Chelsea
Anita Lamar
Administration
5
Answers
New York, New York
Updated
Anita’s Answer
In the business world today you can make a difference by working for a company that is making a difference.
You can research the top 20 companies to see which company appeals to you. You can go on the company's website and read "about us" and social responsibility.
Reach out to the company and ask about volunteering.
Maybe the company has Career Day
Inquire about College Training/Educatuon for the company
You can research the top 20 companies to see which company appeals to you. You can go on the company's website and read "about us" and social responsibility.
Anita recommends the following next steps:
Cameron DeKruif
Supply Chain Management
1
Answer
Woodbury, Minnesota
Updated
Cameron’s Answer
I have found throughout college that diversifying your experience will take you a long way. I am studying one area of business (Supply Chain) but I am involved in organizations that work with finance which now gives me experience in both areas and more of an experienced candidate in different areas. But also show that you are doing things you are interested in even if it isn't necessarily business related.
I would also say specializing in one area in business by adding a minor or another specific major would also make you stick out as a candidate. Joining clubs that are in different areas in business can help show that you are interested in different areas of business as well.
Join clubs that show your interests
Join clubs that give you knowledge of other business areas
I would also say specializing in one area in business by adding a minor or another specific major would also make you stick out as a candidate. Joining clubs that are in different areas in business can help show that you are interested in different areas of business as well.
Cameron recommends the following next steps:
Thank you so much
Chelsea