Category Archives: Travis Lindsay

Different Ways to Expand Your Business

Sooner or later growing businesses will reach a point where they have saturated their current market. After all, there are only so many people who are willing to rent movies from a kiosk. But that did not stop Redbox from figuring out a different way to grow.

According to Inc. Redbox and Verizon are now teaming up to offer online movie streaming, which makes it a direct competitor of Netflix now. Here is a snippet from the story:

The co-investment with Verizon is an adjacency move that, importantly, opens a new front for Redbox. The best way to think about new adjacency opportunities is along various dimensions, such as new customer segments, channels, geographies, product segments, or strategic moves along the value chain. In this case, Coinstar is building a new channel with the same product by taking their kiosk-based movie business and expanding it online. Previously, Coinstar’s strategic investments focused on expanding its product offerings within the existing kiosk distribution channel.

As you can see from this concise knowledge nugget from Inc. there are a number of ways for you to grow your business. What follows are little examples for each customer base growing method:

Customer Segments: Most companies break down their customers into groups based off of demography. Although some people argue that this is an outmoded way of thinking many companies still live by it. In order to grow this way you have to move from only serving Segment A (middle aged college graduates with 1+ children in college who live in the suburbs) to also serving Segment B (middle aged high school graduates with 1+ children in college who live in the cities).

Channels: This is all about how you get your products/services to your customers. Redbox suffices as an example in this instance because they are adding online streaming as an additional channel to their already established kiosk channel.

Geographies: Fairly self explanatory. If, for example, In-N-Out were to expand into other parts of the country that would be an example of expansion through geography.

Product Segments: Product segmentation is a way to distinguish products based off of what they do and how they are perceived. For example, if Ferrari were to decide they were going to create an affordable sedan they would be going into a different product segment.

Value Chain: Products don’t just happen, they are built. The mining company retrieves the metals, the metals are shipped to a processing company, metals processed into… eventually an iPad gets made. For the most part there is a separate company at each of those steps. If, however, Apple wanted to take over one or more extra steps in the value chain then that would suffice as a move along the value chain.

What do you think? Will Redbox eclipse Netflix as the major movie rental company anytime soon?

Travis Lindsay
Center for Entrepreneurship
tlindsay@fullerton.edu

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Travis Lindsay
Center for Entrepreneurship


Marketing and Public Relations Internship

Are you looking at your spring schedule and realizing that it is pretty sparse? Or maybe you are one of those overachievers who take six classes and goes to an internship. Either way there is an exciting new marketing and public relations internship available at Scooter’s Jungle.

The intern will assist with local store marketing, community relations and localized public relations, conducting customer research and competitive analysis. The intern will have a seat at the table where their ideas, contributions and work product will be immediately used to grow Scooter’s Jungle’s multi-location business. In 2012, Scooter’s Jungle is planning on adding two additional Southern California franchises as well as two out of state locations, which means there is a lot of meaningful work that needs to be done over the next few months.

If, however, that internship doesn’t sound like something you want to do Scooter’s Jungle is also offering a $12/hr short term position to someone who knows how to publish operations manuals using Microsoft Word. Scooter’s Jungle has the content but they need help reformatting and updating the documents.

For those of you who have any interest in either of these opportunities please contact Scott Diener at (949) 349-9559 or via email to scott@scootersjungle.com.

Travis Lindsay
Center for Entrepreneurship

Spring 2012 Internship Opportunities with Small Business Development Center

If you are a business major, especially if you are one majoring in entrepreneurship, you should seriously consider an internship with one of the most highly regarded Small Business Development Centers in the state. TriTech has been helping businesses grow for nearly a decade now and they have had an amazingly positive impact on the local economy.

Here is their Mission Statement: The Orange County/Inland Empire Regional SBDC Network stimulates economic growth in Orange, San Bernardino and Riverside counties by providing small businesses and entrepreneurs with expert consulting, effective training and access to resources.

Here is what they are looking for in an intern: Paid and unpaid internships are available for approximately 20 to 40 hours each month to conduct market research. Experience is required in the areas of: market research, database mining and the ability to intelligently analyze this information from a report. The locations for these internships will be at the Small Business Development Centers in Irvine, Riverside and Corona.

Another internship is available to those who are experienced paralegals or for pre-law students. The purpose of this internship is to conduct preliminary patent searches. Familiarity with the USPTO database and Lexus/Nexus are good skills to have if you want to be seriously considered for this internship. The location will be in Irvine. Internships open to MBAs, computer science, law, engineering and pre-med, biology or chemistry graduate students.

If you are interested in either opportunity, please send your electronic resumes to: Marquise Jackson at marquise.jackson@rccd.edu

Whether you decide to pursue these internships or not have a wonderful break and a productive 2012!

Travis Lindsay
Center for Entrepreneurship