Business 402

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There is a small business that I visit often named “T-Shirts”. This shop makes custom screened printed and airbrushed items. I have had my custom made shirts done from them and I happen to like them very much, just not the time it took to make them. This business consists of two brothers, who run the whole operation. This store front is based on a part time entrepreneur situation because they are open two to three days a week and only for a limited amount of hours.

If I was to take over running a business as such, the first order of business would be to run a web based online store as well as the store front. The strategy for my business would be “Custom made in a flash”. Upon talking to potential customers who like to get custom made items, their number one complaint is the time that it takes to produce the item that they want.

In knowledge management, organizing a way to quickly produce custom made products quicker than anyone else is my idea. By gathering a few talented people who possess the skills to design is a major part of the business. Customers demand quality but timely work and that’s what I would want to provide to them. This sort of knowledge management would allow my business to compete with the business I selected by responding to customers faster and to market our products more efficiently.

Our competitive advantage would directly be related to our way of handling customers orders and the turn around for their items. Creativity, flexibility and speed is what will set my business apart from other businesses that do custom made products. By having people who can use their imaginations to create pieces of custom work would be  most important to mt targeted base. Concentrating on how to best serve our customers wants and needs is how the business will thrive.

The vision for my company would be to produce what the customer wants, when the customer wants it. Too many times, I’ve went to get items made and it takes so long to get the finished product. People want their orders in a timely fashion. Our mission statement would be “Custom made in a flash”. I believe this lets our customers know that their time is valuable to us and we want to provide quality work fast.

By expanding the business to online opens up for better possibilities because of the potential to reach more customers faster. It’s almost like having to part time jobs but combined as one because of the store front. Having a web based store also can cut down on certain costs. By letting a customer create their own designs and we print them is also how we can set ourselves apart from our competitors.

I think that it would be better for me to purchase the existing business. I say this because, this business is still one that is budding and can be molded. I can come in and reshape this business to how I would like it to be. By adding the website to the business will create a broader range of access to my business and would help it to be all the more successful.

I would make this a family owned business so that we all bear the financial aspect of it and also reap the benefits of it. These kinds of companies make up 62% of employment in the U.S. This makes for a better situation financially as of now because I do not have the capitol to be able to do it all myself at this time.