LectureWeek's Image Here
Highlights
Student Check List[ ] Reviewed notes before and after lecture/lab
[ ] Paid attention [ ] Use Lab time wisely [ ] Spent total of 6 hours per week  Review
Tip of the Day
Student R&D Department
Terms you gotta know...
|
 |
Important terms you should know (i.e. with Googling them - like for a job interview, or verbal discussions)Terms:
|
Lecture Topic:
Reading assignment
http://www.inc.com/eric-schurenberg/the-best-definition-of-entepreneurship.html
Lecture Topic:
??? WHere is that video about that guy building and pbulsih modesl ??
*** Show that 3D google earth being published...
Mr. M. thinks in next 10 years, uses 3D will be far more common - but who can really predict the futureWhat Else Can you Do with Google Sketchup
You can build buildings/structures for Google Earth with Sketchup
If your model is "good enough" - Google will publish for the World to see.
http://www.google.com/earth/explore/showcase/3dbuildings.html
Lecture Topic: kinds of projects you might pick
Look at link. at TOP of 400
Mr. M. just added APPLE MOTION idea.
How much is Motion for commercial use?
Do you need to be a programmer?
Lecture Topic:
Introduction
This course is about TWO things:- Starting and running a business (incl. some legal stuff)
- Copyright Law
BONUS TOPIC:
Negotiating.
We will spend a little bit of time on HOW TO NEGOTIATE.
This may be one of the best money-saving parts of the course,
hope you enjoy it.
How many have ever taken a course on Negotiating?
Why isn't it taught ?
I am excited about teaching this course, and really looking forward to the winter semester.
It is a course I hope you will find valuable.
I have experience in small/medium size business
Construction/Retail/MoneyTree Software Company/
ReadPlease Corporation/Adamas Jewelers
and think I have a lot of valuable information to share with you.
Also, I have worked for some very large companies...
like the 12th largest in the USA. Allstate Insurance,, in Chicago, as a freelancer....
What is a Freelancer -
where did the word come from?
http://en.wikipedia.org/wiki/FreelancerTHE BIG QUESTION
What % of people in MM industry work as Freelancers.
___ % - Draw PIE CHART ON BOARD
Why is that?
One of highest
About small business
- Have you had much experience with a small business?
- I don't want to start a small business... so why will this course be useful to me?
Q:
Isn't this just for entrepreneurs / freelancers?
A:
Business like to hire employees that __________________.
- Redesign of course every year...
- Start a business with whole class?
- What makes a marriage work?
- What makes a business partnership work?
Course Outline
Give out link to digital version (on Blackboard under Course Information)Look at description. This is broad overview of course.
NEW THIS YEAR
Pricing Guidelines....
for MM 400
Mr. M. will be referring to this book quite a bit.
For example:
Page 244,
Flash Animation for Small client
$80 USD per second.
10 seconds, $800 dollars.
and MUCH MORE...
http://www.graphicartistsguild.org/
MM 400 and MM 462 Grading Goal for 2011
Something you would be proud of to put on your Resume, Portfolio
Something that would make you "stand-out" in a pile of resumes
To enjoy working on something you had some say in. - You picked it.
Movie of the Week
Movie:
Lab
Highlights
- Income statement
- More with Freshbooks
- What is a SYSTEM, and why is it essential
What about FreshBooks expiring in 30 days?
What about Freshbooks for final business project?
Shall we just forget it?
Is LESS really MORE?
Can you learn more with LESS ?
What MrM hopes you gather from Freshbooks in next couple of weeks.
Review:
Remember Personal Net Worth? Called a Balance Sheet for business
What kinda date?
Here is a real one from Mr. M.:
https://docs.google.com/spreadsheet/ccc?key=0AiERzyUyU8UDcEx2SUtPUXhnTkEtQ0RtVmZveFhMVmc
Lab Topic: Income Statement
Also called P&L - what does that stand for
Sing-a-long
Let's do a personal one
Open up the sheet from Last Week
Mr. M. borrowed John N. - attached at bottom.
How does the Income statement TIE into the Balance sheet
What kind of date do you need on an Income Statement (Quiz Question)
Review: What kind of date do you need on a Balance Sheet
Lab Topic: Overhead, Freshbooks etc.
- Lets go SHOPPING for your Freelance Business
- If
you think about it... you soon realize that you have to charge a LOT to
make a good living as a freelancer. And many are willing to pay you A
LOT...
- Question of the DAY
'Why do business sometimes PREFER freelancers compared to bringing on a FULL time employee? - What
is Overhead - Can Overhead wipe you out --- you (in a financial sense)
- How much are you REALLY making when you charge $20 per hour? You have
to charge a LOT! Here is why
Review from Last Week
- You were suppose to a) send an estimate to your client, then b) send an invoice <-- if you don't know how, ask Mr. M.
Sample Rates for companies / freelancers
What do you think of these rates:
How did Mr. M. find this site?
What is a SYSTEM? - Movie 7 minutes
http://youtu.be/9_cvWKDms0c
Quote for the day
"I never perfected an invention that I did not think about in terms of
the service it might give others... I find out what the world needs,
then I proceed to invent."
- Thomas Edison
"The important thing is not being afraid to take a chance. Remember,
the greatest failure is to not try. Once you find something you love to
do, be the best at doing it."
- Debbi Fields, founder of Mrs. Fields Cookies
"We were young, but we had good advice and good ideas and lots of enthusiasm."
- Bill Gates, founder of Microsoft Corporation
The Shocking Truth About Accounting
- Why? Why is it so very important?
Is accounting boring? The shocking truth revealed.
- What question does the "Balance Sheet" answer?
- For a person, what is your "Balance Sheet" called?
- What question doesn't the Balance Sheet answer?
- What is the NAME of this other sheet?
- Do you think these TWO sheets are somehow related?
- Why not SUB out your accounting for about $50 per month? to a small bookkeeper. (OVERHEAD EXPENSE - YES!)
- Keeping
sloppy records, reporting to Gov't late, failing to do your income tax
on time - will cost you dearly and you have better things to do with
your hard earned money than to give it to the government.
- No business can succeed without having their books in order.
Treating Freshbooks Seriously
Let's pretend this is for 5% of your mark...
NOTE:
Please make sure your Freshbook looks like a real business and treat this seriously.
Don't have anything like you did a $22,000,000 job, or other outrageous expenses - like a $400,000 car or luxury yacht.
Take some pride in your Business - spend some time exploring all that Freshbooks has to offer.
Do explore the taxes - make sure you have that set correctly
Reason: It is the _ _ _. (3 letter word) L
This course, just might be very important to your ability to make money in future.
Thanks,
Overhead Expenses - A Brief Introduction
- First, how many working ours are there in a year - Mr. M. to do in Excel - write down in your What I learned Doc
- NEXT WEEK, in your own spreadsheet (upload to google) - create a sheet called "Overhead Expenses"
your charge out rate, is CONSUMED by Overhead. - Warning: Overhead is REAL - and you may not appreciate this until you have tried some freelancing for a year or more.
Let's Go Shopping
MR. M. To do ONE expense as a SING A LONG...
Let's set up ONE expense that you can charge your client for....
Say your client... she wanted you to buy a external Hard drive to back up all her files, and deliver to her at end of job.
Let's set up ONE expense that you can charge your client for....
Say your client... she wanted you to buy a external Hard drive to back up all her files, and deliver to her at end of job.
Take you time doing this, do understand what you are doing, don't just blindly go through it clicking on everything.
You
just borrowed $10,000 for your Freelance business and want to get
started buying stuff and you now have a VISA card that has $10,000
limit.
Assume you have NO employees - but you can hire other contractors to help you out.
Assume you have NO employees - but you can hire other contractors to help you out.
Let's buy some things that can be considered Overhead. --- like things that you can't DIRECTLY charge a CLIENT.
Examples:
- could you charge your client for 50 DVD blanks ?
- how about a BAMBOO tablet
- How about a CHAIR
- How about $5000 for 3D studio MAX?
- How about a PLANE ticket to visit your client in Houston TX?
People that have NEVER been in business, don't appreciate how serious OVERHEAD can be.
Examples:
- could you charge your client for 50 DVD blanks ?
- how about a BAMBOO tablet
- How about a CHAIR
- How about $5000 for 3D studio MAX?
- How about a PLANE ticket to visit your client in Houston TX?
People that have NEVER been in business, don't appreciate how serious OVERHEAD can be.
Use actually prices from actual vendors, and set up CORRECTLY in
Understand what categories you charge these to.
- Buy a new Mac or PC from say FutureShop, or Mac on line - list taxes separately
- Buy NEW legal software for your business (say 3 pieces of software) - This could be a lot, 3d studio max,? Final Cut? $1,000 of dollars! - you gotta figure out a way to make money to pay for these.
- New Desk and chair from Staples
- Printer
- Wireless router
- Something else you would like for your office - maybe an iPhone?
When you are done - CHECK out the "Reports" feature of FreshBoooks - you will need say 6 - 10 items entered.
NOW: Can you charge a client for ALL of these, or some of these?
Is it EASY to add an expense ITEM to a client invoice?
Could you record ALL your expenses for the year in FreshBooks?
NOW: Can you charge a client for ALL of these, or some of these?
Is it EASY to add an expense ITEM to a client invoice?
Could you record ALL your expenses for the year in FreshBooks?
SHOW MR. M. BEFORE YOU GO.
Homework
- Make sure your spreadsheets and FRESHBOOKS OK
- Explore FreshBooks a bit more - make sure you have done everything that Mr. M. asked you to do.
- THINK about your Business adventure project. - major project