IA3

CEO- Dillon Dugan

Company- Yinzer Elite ( Lacrosse company that gets high school players recruited as well as improving their skill tremendously)

Business Plan

·      Mission Statement- To be the most successful lacrosse business in Pittsburgh. Our goal at Yinzer Elite is to not only to expose our athletes to  collegiate  coaches but it is also to improve each players game tremendously

Business Environment

What industry will you be competing in? We will be competing in the sports industry specifically lacrosse.

How does the industry look in a global environment?  As of now, the global industry for lacrosse businesses isn’t very large because lacrosse is only super popular in America and Canada. However, lacrosse is the fastest game on two feet and the fastest growing sport in the world so in years to come the industry in the global environment will be much bigger.

What economic forces influence the supply and Demand of opportunities in your industry?

The cost to play lacrosse in general could influence the supply and Demand opportunities in my industry.  Lacrosse is a very expensive sport so if a recession ever were to take place less athletes would play lacrosse due to it not being affordable.

Entrepreneurship and Strategy

As the CEO of the startup company me, what challenges do you envision “promoting” and “selling” Product me?

One of the challenges that I can envision when trying to promote my product is all of the other organizations in the Pittsburgh area that are trying to do the same thing as my company is doing. There are a lot of organizations just like mine so we have to do a very good job of setting ourselves a part by doing things such as having some of the best players in the game on our company team.

What potential strategies would you consider, starting out as an “entrepreneur?” Consider company me as a startup:

The strategy that I would use is surrounding myself with the most knowledgeable athletes that have had experience playing at the highest levels in college. I believe that in order for my company to succeed I need to surround myself with people that are the best.

Marketing

As the CMO of company me, How would you promote product me?

I would promote my product through coaches in the Western Pennsylvania area. I have played lacrosse for 10 years and within those 10 years I have met a lot of passionate coaches and ambassadors of the game. My connections in this area run deep, so I am certain that word would spread quickly about my business. I would also advertise through catalogs and stores such as Dick’s sporting goods.

Who are your potential customers?

My potential customers are athletes that play lacrosse from 6^th grade to rising Seniors in High school.

What would be your marketing mix and Four Ps?

How would you design and develop product me as an innovative offering that would attract potential customers?

I would develop my business by having the biggest names in the game of lacrosse coaching and working for me. When parents and kids hear that a division one national champion will be working with their kids, there is almost no way to fail. I would set my business a part from others solely because most other lacrosse businesses don’t have the best knowledge in their organization. By having former players that know what it takes and that have been in those shoes to get to the next level is key.

How would you apply digital marketing skills to promote product me? (eg. How would your search engine optimize your linked in profile?

I would use twitter and Instagram a lot because that is the best way for student athletes to hear about my business. One of the best ways to get young player’s attention is by being on social media sites such as twitter or Instagram.  However, I would use linked in  also.

Accounting and Finance

As the CFO of company me, create a simple hypothetical balance sheet when you get your first job

Assets:

Current Assets:

Cash   30,222

Accounts recieveable 420

Prepaid Rent    2,000

Inventory 36,200

Total Assets:

Long term assets:

Leasehold improvements     109,000

Accumulated improvements   4,000

Total Long term assets     105,000

Total assets    180,650

Liabilities:

Current liabilities:

Accounts payable 51,420

Accrued Expenses     600

Unearned Revenue   4,123

Total current liabilities    40,000

Long-term liabilities      58,600

Total Liabilities 100,000

Owner’s Equity:

Retained Earnings 12,500

Common Stock   20,000

Total owner’s equity      35,000

Total Liabilities and Owner’s Equity   195,822

How do you plan to manage your own investments?

As a company I plan to have good judgement with basic accounting principles in order for us to have return of capital and I plan on generating a good amount of profit.

How would you create a financial plan for Company me?

The first thing I will do is keep a good financial plan in order to track all of the investments that I have made. I will make sure to be careful with my money so I can stay in the budget. I also will figure out where I want to invest my money in.

Information Systems and operations

As the CIO of Company me, what information systems tools and analytics would you consider using to optimize your productivity and operational efficiency?

I plan to use SAP which is a German software corporation. This will give me the ability to quickly analyze performance data.