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BUSN 491 response 4

I need to respond to what is below in 250-300 words in APA format.

For my fourth interview, I spoke with an entrepreneur who has had several small start-up businesses and has finally landed on one that he enjoys, finds challenging and profitable. He runs a landscape business that exclusively builds plant walls for corporate clients. The first thing he said to me when he saw my business plan was that I better have a attention grabbing marketing plan, because my closest competition are giants in the small appliance game. Then we spoke about how videos and products can “go viral” because he loves to make videos for his marketing. “Virality is partially driven by physiological arousal. Content that evokes high-arousal positive (awe) or negative (anger or anxiety) emotions is more viral. Content that evokes low-arousal, or deactivating, emotions (e.g., sadness) is less viral. These results hold even when the authors control for how surprising, interesting, or practically useful content is (all of which are positively linked to virality), as well as external drivers of attention (e.g., how prominently content was featured)” (Berger & Milkman, 2012).
The next thing he brought up was start-up costs. In each of his businesses he went well over his initial estimates. But he did say to negotiate and make deals whenever I could. He has the opposite personality of myself, so this one will be hard for me. Whenever he works with manufactures or clients he always makes several different deals and the client usually agrees to them. He said my start-up estimates seemed high but to keep them, because it’s better to overshoot the numbers than be unprepared. “Nearly a fifth (18 percent) of small-business owners said they didn’t secure enough financing when they were starting out, Entrepreneurs are routinely too optimistic about how quickly sales will build and their business will sustain itself. They often mistakenly believe that as soon as they close a sale they’ll have money” (Gunn, 2011, para 7).

Berger, J., & Milkman, K. L. (2012). What makes online content viral? Journal of Marketing Research, 49(2),
192.

Gunn, E. P. (2011, March 17). Five Common Startup Money Mistakes. Retrieved February 27, 2018, from
https://www.entrepreneur.com/article/219368

 

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