Essay about My Business Idea - 1477 Words

My Business Idea In my coursework I intend to start my own business. I will devise my own business plan which outlines my business proposal and the key aspects, during this I will need to seek good business advice on the necessary steps I will have to make. As I go through the coursework I will show evidence, examples and explain how businesses are set up, what types of businesses there are and their similarities, the kind of targets businesses set for themselves and also the different objectives of different stakeholders. For my business I plan to sell toys and other game products that educate young children under the age of 11. Starting up a business is difficult and risky. Anyone setting up needs to consider:  ·Ã¢â‚¬ ¦show more content†¦Most people though have to research their product. Businesses also have to decide how the product is to be made. Finance ======= No businesses can be set up without finance. Most people who start their own business underestimate the amount of money they will need to set up. They are often UNCAPITALISED and this causes problems as the business expands. Some businesses have the potential to be highly profitable but fail because they run out of cash at a crucial early stage in the life of the business. So it is very important to work out how much money is needed to start the business and to identify where the money will come from. Identifying the sources of help =============================== Most new businesses don not survive for more than three years of trading. However, their chance of success is much greater if those setting up the business have received help from experts before the launch. Many new businesses turn to Business Link or to their local TEC. They can identify any grants, loans or benefits that are available from government or from bodies like the Prince’s Trust. They can also organise training in setting up small businesses that is so often vital to the survival of the business. The business plan ================= Drawing up a business plan is very important. The business plan sets out how the business is to be set up andShow MoreRelatedMy Business Ideas Of Yoko Suzuki811 Words   |  4 Pageswhom I talked to about my business ideas this week This week, I spoke with three different people who are interested in my business ideas. These people are Yoko Suzuki who is my friend in Tokyo, Dr. Ikuho Amano who is an associate professor of Modern Languages and Literatures at UNL, and Dr. Debra Wesselman of The Attached Trauma Center of Nebraska. The following are the details: Yoko Suzuki: Yoko loves to make soap at home. Her dream is to start her own soap making business, but she is not sure whereRead MoreMy Business Ideas About The Talent Management778 Words   |  4 PagesMy business ideas that I pitched to three people this week This week, three different people whom I spoke with enjoyed hearing about my business ideas. These people are Tatsuo Matsuo who is a HR manager of Fujitsu, Shinya Kitagawa who is a HR manager of Hitachi, and Dr. Thomas Field who is a director of the Agribusiness Entrepreneurship program. The following are the details: Tatsuo Matsuo: Mr. Matsuo is a competent HR manager with 12 years experience in HR consultations. He is interested in developingRead MoreMy Findings From A New Idea Into A Profitable Business Essay1259 Words   |  6 Pagesabout my findings from this past month on being an entrepreneur. I n addition, I will touch base on Nikki Durkin and her epic failure with 99 dresses along with lessons learned to be successful. 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You must submitRead MoreEvaluation Of The Project Process Essay1373 Words   |  6 PagesIntroduction/Overview The purpose of this report is to reflect on the experience of creating the business plan and to express my thoughts and reactions to the process. This report will detail the evaluation of the project process, interaction of theory and actual practice, development of additional intellectual and interpersonal skills; and other key learning pertaining to the exploration of the business idea - NannyMatch. NannyMatch is an upper-end on-call or short-term hotel nanny service, which matchesRead MoreMy Own Current Contribution Of The Venture Creation During Group Meetings1599 Words   |  7 Pagesmainly discuss my own current contribution in the venture creation during group meetings. It will be divided into two parts. The first part will describe how I performed in the team exercise of creating an effectual business idea in details by using each principle of effectual entrepreneurship. The second part will discuss my thoughts, means, my positive impact on our business idea, what I have learnt and what should I improve to get myself ready for the next new effectual business. Our group hadRead MoreHow I Will Use Druckers Innovation And Entrepreneurship1626 Words   |  7 Pagessuccessful business. First I will explain the beginning steps to starting my business. Next, I will summarize the important principles of innovation and how they will be incorporated into my business. Then I will summarize the important principles of entrepreneurship and how they will be incorporated in to my business. Lastly I will present the purpose of my business and how it will be beneficial outside of a sports environment. I will conclude with my future plans. When starting a business, began