Anthony Galioto BUS105 IA03

Personal Business Plan

At Galioto Inc., I strive to make connections with family, friends, and colleagues on a personal level, while keeping in mind that these people can ultimately help me achieve my own goals of professional success. 

Business Environment

Having the choice to enter any industry that the market offers, there were a few options to consider before I made my decision. I have always had an interest in math, so having the ability to use those skills has always been appealing to me. Many of my family members work within one function of the business world, so having the background knowledge that I have complied over the years has created an interest in my mind for many years. Using my math skills, with the knowledge that I have of the business world, led me to major in accounting. The industry is large, possibly one of the biggest out of any in the market right now. According to the Bureau of Labor Statistics, the financial activities sector actually fell by roughly 81,000 jobs from 2006-2016, but the economy is expected to create about 480,000. This means that as I will be entering the job market, there should be plenty of new jobs opening up needed to be filled. Accounting, one of the foundations of business, has been a job market that has always seen consistent opportunity to be hired. It is a service-providing industry, keeping the financial records of large and small businesses alike from getting into trouble with auditors. With that being said, the market obviously could shrink if small businesses stopped opening up, or business in general slows and forces closures. Taxeshave a big reason to do with the profitability of business. They effect both large corporations and small businesses in different ways, depending on the types of taxes that are in place can show how businesses will make money. The business industry is recovering, and expected to expand around the same time I will be entering the job market. 

Entrepreneurship and Strategy

As the CEO of my own company, I can see a number of challenges with being able to sell my brand to an employer. The number one problem I can see dealing with is having an unimpressive resume. I have always been a good student, and have worked in high school as well as played sports, but feel that I am missing that one good piece of information to catch an employer’s eye as being a good fit for a position. However, being an accounting major, I am hoping to eventually become a CPA, which is one of the only parts of a resume that matters for accountants because it proves that the person is able to complete the necessary aspects of accounting. The first thing that I want to do is begin a deep understanding of the stock market. This is something that every business professional has an understanding of, as it basically determines how well the economy is doing. Playing the Investopedia simulation in class has led me to create and invest in my first stocks on E-Trade. Another area of focus that I have in preparation for my time in the professional world is improving my computer skills. Businesses are increasingly requiring its employees to be proficient in a number of software programs, which I am aware of and am currently working to improve. We are no longer in the days where being able to use Word, Excel, and PowerPoint is impressive. Programs like Capstone and other, more advanced systems are the new skills that prospective employees are picking up because it is what companies are using increasingly more. Picking up skills and understanding weaknesses are my biggest priorities before becoming a professional.

Management

As a manager of my company, the first problem that I would have to consider is making sure organization is always kept together. Being organized is another way to be aware of the upcoming tasks, which also falls into planning. Staying organized means that I will need to consistently use some type of calendar. Many online calendars do a good job of being able to visualize upcoming events, and my ability to sit down and add the events that I have to do will determine my success. I have to do a good job of time management because I need direct myself to actually be an active professional who makes these adjustments in their life. I need to know that I have to do things such as keep up with current events, like Dr. Chung encourages us to do in class. This also goes further, like going to networkmyself to other business people in order to improve my brand. To motivate myself, I will continue to learn and expand my knowledge of other successful business people. To me, the best way to find drive and passion in what I do is to watch the best people in the field. Expanding off of the article written by Peter Drucker, I am in this field for the long-haul, so I need to pace myself and find a passion for the work so that it becomes natural. This is in hopes that the natural traits that are required takes less managing, and instead comes easy. Setting goals is another aspect of my life that needs to be kept on top of. I need to set goals every 3 months and check up on the past goals as I set the new ones for the upcoming quarter. When working in teams, I always need to remind myself that others thoughts and opinions should be treated as more valuable than mine. I want to be sure to be respectful with other people because having a rude reputation is not something that I want to be associated with myself. Managing myself takes effort, and I need to be sure to be responsible with balancing my work life and social life so that I am able to enjoy both of them. 

Marketing

Being able to promote my skills is arguably one of the most important parts of being able to landing a good job. I need to be able to advertisewhat I can bring to the table. Employers and people in general will have no idea that I have any type of appealing skills at all if I am not the person who is promoting it. I am selling my abilities to customers, whether it be actual employers or business people who could be useful for the future. I will try my best to focus my selling points at the start on product. I am trying to sell something that people need, so that is the first step I need to get across to people. This means that I actually have to create a good product, which starts with me actually having a good product to sell. My product need to be unique, I need to create demand for my product so that I am able to have the leverage and can choose my own path. LinkedIn is a very valuable asset that I need to take advantage of. It is essentially an online resume, so I need to make sure that what I put on my profile is appealing and impressive to everyone. Connecting through the website with either people I know or who I would like to know is a great was of making new relationships. Making relationships through networking can even be expanded into the technological world as well. Selling myself to others is going to be a key in my success as a business person. 

Accounting and Finance

Assets	Liabilities
Cash 65%	Rent Expense 35%
Equipment 25%	Utilities Expense 25%
Insurance 10%	Miscellaneous Expense 40%
	Owner’s Equity
	Stock Market 100%

When dealing with investments and personal money that I will eventually gain, to start I want to put all of my money into the stock market. This is because I want to yield the highest return on investmentas possible, so by investing at a young age I can hopefully increase this investment by a few times over the next 30-40 years by the time I am ready for retirement. I obviously want to be smart about the way I invest, not just throw a bunch of money aimlessly and hope to make a profit. Being wise and not using speculationwhen investing in the market is key in having a credible portfolio worth something for a long period of time. Once I begin to either work consistently or earn a salary, I will need to properly divide up how I spend my money. The balance sheet will surely be something more detailed than the one above, but those categories basically cover all of the assets and liabilities that I will need to consider. I might even need to meet with a professional to start just to get the general idea of what percentages should go towards which categories. Financial planningis something that is going to need a lot of thought and consideration, as I need to decide the lifestyle that I want to live.

Information Systems and Operations

When deciding on how to best use technology to my advantage, I do not have to go far to have plenty of useful options. Google offers plenty of data analytics that could be used to track information or survey a group of people if need be. Google forms is a tool that I have previously used to survey over 50 people for a potential event in high school. It uses datain a nice and easy way for the user to look at and figure out the information that you need to take away from the survey. I would definitely be interested in using a system that would be able to track selling, such as e-commerce, if I were ever to have an online website selling products. This would allow me to track consumer habits, interests, and upcoming seasonal changes. This gives any seller an advantage because they have access to next level information that other competitiors in the market might now have. Being ahead of the game can turn an average business into a successful one. 

References

“Employment by Major Industry Sector.” U.S. Bureau of Labor Statistics, U.S. Bureau of Labor Statistics, 24 Oct. 2017, www.bls.gov/emp/tables/employment-by-major-industry-sector.htm.

Drucker, Peter F. “Managing Oneself.” Harvard Business Review, 17 Oct. 2016, hbr.org/2005/01/managing-oneself.

Granville, Kevin. “How to Manage Your Career.” The New York Times, The New York Times, www.nytimes.com/guides/business/manage-your-career?smid=fb-nytimes&smtyp=pay&smvar=guides.