Surveys have consistently shown 60% of Americans would like to start their own business, but not nearly as many act on this desire. If a person is serious about pursuing this notion, one of the first things he or she should do is think critically about what business to pursue. The next step involves doing some research about the business services and products, and then it’s a matter of putting those initial thoughts in writing.
Becoming a famous and wealthy entrepreneur like the founder of Facebook or Apple may not be at the top of your list, but for the purpose of your class project, let’s say that it is. You will have to decide what business you want to go into, where you want to do business, how you intend to make money, then put that basic information into a research paper suitable for business planning purposes.
By Tuesday, October 25, 2016, prepare and submit to the Week 2 Assignment 2Dropbox a report of 500-750 words that reflects your thoughts about a specific business in which you have an interest in starting. If you don’t have any particular business in mind, you may do an internet search to explore business ideas for one that best suits your interests. One such site ishttp://www.entrepreneur.com/startingabusiness/index.html, but an expanded internet search can reveal a number of similar sites.
Your report should include:
- The purpose of the business in terms of the product or service you intend to provide through your business
- Your belief(s) about why this product or service would be profitable for a business
- At least two major obstacles that would get in the way of launching this business
- Other people, companies, or organizations, which have been successful with this, or a similar, product or service?
- Resources for additional information or help with your idea (people, websites, agencies, actual business contacts, trade associations, etc.).