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Cody Tucker
Ms. Bennett
British Literature
9 September 2011
Building a Successful Business
Mark Twain once said, “Don't go around saying the world owes you a living. The
world owes you nothing. It was here first.” Entrepreneurs are the building blocks to our
country. People need to understand that if they want something in life, they should pursue it.
Entrepreneurs have to stay open minded, and keep a “go getter” state of mind. Today,
Entrepreneurs rely very much on the internet. The internet is a place where they can go to find
any information desired. For the past decade people have begun to rely more and more on the
internet. It has made life simpler, more opportunistic, and also made it possible for someone to
start a business without the brick and mortar. The brick and mortar is a physical office, separate
from home. The concept of not being obligated to acquire a facility to operate a business is a
very good thing. It is beneficial not to be compelled to have a separate building, because it saves
a lot of money on expenses. This allows you to be able to get started on a much smaller budget.
If people can start a business from home, it gives potential Entrepreneurs more opportunity to
shine on a lower budget. Bill Gates, founder and C.E.O. of Microsoft Co., for instance, once
said, “If you give people tools, [and they use] their natural ability and their curiosity, they will
develop things in ways that will surprise you very much beyond what you might have
expected.”Mr. Gates started Microsoft out of a basement, He is now the richest man in the world,
worth over 50 billion dollars. Starting a business takes time, commitment, and drive. First and
most importantly, a highly detailed, and well thought out, business plan must be created.

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Marketing a product is a very important step in getting a business operating, social media, print
advertisement, online advertisement, radio advertisement, and commercial advertisement, are the
key ways of marketing, but not the only.
The business plan basically sets the margins for creating a business. Without a business
plan a company has no structure. by creating a business plan, everything is being set in stone
about how the corporation will operate, what its budgets are, how many sells are predicted, who
is going to run the business, etc. The business plan also answers almost every question that could
be asked. It is all of the steps for creating a business combined into one document, ultimately
creating one uniform company. In a business plan, make sure to include an executive summary,
which is a summary about the business. Next a company description must be created, which
includes legal establishment, history, start up plans for the company. When describing what
product or service the company will be offering, focus must be aimed towards customer benefits.
In explaining the strategy and implementation, the creator really has to be specific. One must
include management responsibilities with dates and budgets with traceable results. A financial
analysis is very important; projected profit, loss, and cash flow tables must be included. Tell
who, specifically, will be managing the company, otherwise known as a management team. Last
but definitely not least, include a web plan summary, be sure to include development costs,
operations, and marketing strategies (advertisement plans). After the business plan has been
created, if followed closely, and the projected expenses are provided, one should be able to get a
business up and running. Next, the business must be advertised. Advertisement plays a huge role
in creating a business, because if people do not know the company exists, it will never get any
business.

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Social media has become a very popular way of advertisement. Twitter, Facebook, and
Blog Spots are very popular. “At Twitter, mobile is in our DNA … For us, it’s all about mobile,
and it always has been,” says Biz Stone, co-founder of Twitter. Mobility has become a way of
life. People want whatever information they want, when they want it. Facebook was originally
created for college students and kids, but now it has expanded into the most viewed site in the
history of the internet. Between 2008 and 2009, Facebook made businesses boom: “The number
of Facebook users between the ages of 35 and 44 increased by 51%; Facebook users among the
ages 45-54 grew by 47%; Facebook users ages 26-34 increased by 26%” (“How to Market Your
Business on Facebook”). Almost everyone who has advertised on Twitter has gotten positive
feedback. People have gotten an average of 24.29% more followers within three weeks of
advertising on Twitter.
Online advertisement is also a very critical technique of advertisement. The internet has
grown so much that it is critical matter, to be able to access it. There is a fine line between social
media and online advertisement but they are very much different while social media focuses
more, just on the people on Facebook, Twitter, etc., online advertisement focuses on everyone on
the World Wide Web. There are numerous ways to advertise online. Every time something is
searched on Google, Bing, etc., advertisements for related searches come up.
Print advertisement seems old fashioned but is still a very effective method of selling
business. Business cards, flyers, and billboards are classic ways of advertisement. Business cards
are still used by almost all large corporations and small businesses. Basic business cards just
have information such as a phone number for the business manager or sales representative, an e-
mail address, a fax number, the company’s website URL address, and sometimes a list of the
goods and/or services that are provided by this business. Business cards can be given out to

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people who may be interested in a business’s good or service. When people travel, most of the
times they are on the interstate, where billboards are everywhere. Print advertisement is a huge
method of gaining new clients. Billboard space can be bought or rented. It is not cheap but
ultimately it can bring a business a lot of new clients and hugely increase their revenue.
“Don't bunt. Aim out of the ball park. Aim for the company of immortals,” says David
Ogilvy, retired chairman and C.E.O. of Ogilvy & Mather (one of the largest marketing
communications companies in the world). If one is to come across an opportunity to advertise
big, do it. Large scale advertisement brings in large scale business. Commercial advertisement is
probably the most popular for large businesses or firms. It costs a lot of money to televise a
company nationally or locally. Although it is costly, commercial advertisement is probably the
most effective way to bring your company new clientele. People watch television every single
day. Approximately 169,000,000,000 U.S. dollars have been spent on television advertisement
just in 2011.
In order for one to really make their business successful, they must offer a product or
service that is unique, or that no one else in the same industry offers. If one cannot offer product
differentiation they are interpreted as being in a perfect competition. There are four types of
market structures; a perfect competition is the most common, a monopolistic competition, an
oligopoly, and a monopoly. A perfect competition has no barriers to entry, usually operated by a
sole proprietorship. A monopolistic competition is the market structure where product
differentiation is offered, brands such as Nike, Reebok, etc. are monopolistic competitions.
Oligopolies are bigger than monopolistic competitions, they are much harder to enter, gas
stations are together are an oligopoly. Oligopolies sometimes come together to form a collusion,
which is a legal was to set prices so that consumers have to buy products at them. Monopolies

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are almost impossible to get in to. Patents and copyrights are a way to start a monopoly. If
someone patents and invention, no one else can use it without paying the desired cost the
inventor demands. These market structures are essential to owning a business. If starting a
business, one needs to have the drive to make their business grow.
To me, the American dream is to be able to sit back and collect salary every day while
relaxing, and to live without having any payments or liabilities. Thousands of people have
migrated, throughout history, to the United States of America in pursuit of their American
dream. The United States of America is a magnificent country that offers a colossal amount of
opportunities. Those opportunities must be embraced in order to achieve the American dream.
Entrepreneurs know how to embrace that dream, and make it a part of their goals to achieve
success and ultimate contentment. Building a successful business is not a simple act, but it can
bring you great success. In the world of marketing, one can either, succeed, or fail miserably. If
followed closely, this should be a guide to success in creating a business, advertising products,
and over all, selling products.

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Work cited page
http://marketing.about.com/od/internetmarketing/a/facebookmktg.htm
http://www.prweb.com/releases/Twitter/Advertise/prweb2508054.htm
http://www.brainyquote.com/
http://www.plunkettresearch.com/advertising%20branding%20market
%20research/industry%20statistics
http://thinkexist.com/quotes/bill_gates/
http://www.linkedin.com/company/ogilvy-&-mather
http://www.census.gov/population/www/popclockus.html