Week 1 assignment Create an original entrepreneurial or small business idea (i.e., a small gym or salon in your hometown).
When thinking of your business venture, be sure to take risk into consideration. Risk can be minimized if you pick the right business, if you have experience, and if you are aware of the failure rates for certain businesses. Other considerations when creating your business may include changes in government regulations, initial investment size, the public image of certain types of businesses, the choice of product or service, and the target market you will pursue.
You should thoroughly evaluate your chances for success based on your findings in all these areas.
Assessment Deliverable
Using your findings, create a 7- to 9-slide presentation addressing the following:
- Create a vision statement for your business by evaluating the types of products you will sell, the customers you will attract, the type of organization you would like to build, and the reputation you want to develop for your company.
- Create a 1- or 2-sentence mission statement by assessing the main purpose or “why” for starting and operating this business.
- Assess 2 reasons why your business idea is viable and will be successful. Provide supporting evidence from your research.
- Evaluate 3 challenges and 3 rewards of owning and operating a small business.
- Discuss 3 keys for starting and building your idea into a successful business.
Include detailed speaker notes and visuals per slide.
Cite at least 2 outside resources to support your projections and other industry information data.
Format references according to APA guidelines.
Submit your assessment.
Assessment Support
- Review “Add Speaker Notes to Your Slides” for guidance on how to add speaker notes to a presentation.
- Review the following resources for writing guidelines and APA information:
- Center for Writing Excellence
- Reference and Citation Generator
- Grammar Assistance
week1 discussion Due Day 3
As you discovered in Topic 1, there are both immense rewards and great challenges to entrepreneurship.
Respond to the following in a minimum of 175 words:
- List 3–5 of the rewards of building a business that are most attractive to you.
- List 3–5 of the challenges of starting a business that would be most concerning to you.
- How would you remove or mitigate the challenges small business owners face?
- Do you feel the rewards of entrepreneurship outweigh the challenges of starting and building a new business?