What I know
When it comes to business, especially when it comes to starting one, I tend to think I know it all. Yet in reality, I don't really even know how to get started, enough to make a business efficient, or even get the doors open enough to make the first dollar. When I first think of working/operating a business, I think of no boss but myself, the rules are made by me and no one else, and that seems like a great plan in my eyes. As well as having all company profit coming directly to me, and I get to decide what happens with it. Although I know there is more to it than that, there is forming a budget, working with customers, knowing when to expand, and when to coast through. I also know that in the world of business, that if you
…show more content…
Another key area that is elaborated on in the plan, is a company description which lays out and explains what will happen at the business, what it will sell, produce, etc.. Along with elaborating on description, it also goes into detail how the entire operation will be funded, and if any aid is needed in the process.
With the first step being planning, I found the next nine steps really rely on how to execute the plan and what to do with the ideas written in the plan. I discovered the next step is getting schooling and training. With companies popping up every day, it is important that if I start one, it is being set up to the best of my knowledge, and with schooling, it would greatly improve the odds.
The third most important step in starting a business is, along with a lot of things, is location and environment. The setting I would get to work in, is up to me, and choosing it is very important. Getting stuck in a crappy office with no air, and having to deal with issues, would not make the work environment very pleasant. Along with environment being very important, I also learned it's all about location, location, location. In the world of business, the location is everything. If a retail store is in a bad neighborhood, then not too many are going to go shop there, but if it is in a nice
In 1676 a group of poor farmers rebelled against the government and William Berkley a royal governor in Jamestown Virginia. Poor colonists had to settle outside of the English Colony and into the frontier where the Natives had control. When indentured servants were set free they also had nowhere to live except for the land on the frontier and use that land to start farms and their lives. This created a problem because the poor farmers that were settling in the frontier were being attacked by the Natives because there was no protection passed Jamestown and it was dangerous because the Natives had control over all that land. The farmers were killing some Natives but this was against the rules because they had to keep the
Mr James Madison’s quote makes most sense to me. It’s explaining to you that there wouldn’t need to be a government if men were able to do everything that they were asked and get it done perfectly. In Madison’s time he is explaining how there would be no government at all, if all male citizens were perfect. There would be no need to have a government. Nowadays we are a Republic where decisions are made by the people. The government keeps the country united and helps to form a sense of community, patriotism, and national pride. I would say I am more in agreement with Madison because he proved his point very well. It interested me in a way where I wanted to learn more about him. Plus I also wanted to learn his path that led
After gaining enough knowledge on the types of business structure, business owners can proceed to the process so that their plans of owning a business will turn into reality. After reading several resources, the process will be divided into five stages. The first stage is the planning and research. This involves developing viable business ideas, knowing the target customers and possible competitors, searching for the right location, thinking what will be the business name, and marketing strategy. In this stage, a business plan should be made. Business Link (2016) refers, “business plan as a document that defines why you’re in business, your goals, and how to achieve those goals and it also covers all major aspects of the business, including
BIS did not breach duty of care because according to "N.Y. GOB. LAW 18-105: NY Code -Section 18-105: Duties of skiers" 10-11, each skier shall have the duty not to willfully stop on any slope or trail where such stopping is likely to cause a collision with other skiers or vehicles and to yield to other skiers when entering a trail or starting downhill. Craig neglected his duty to both.
Spokane Industries has contracted Franklin Electronics for an 18 month product development contract. Franklin Electronics is new to using project management methodologies and have not been exposed to earned value management methodologies. Even though Franklin and Spokane have worked together in the past, they have mainly used fixed price contracts with little to no stipulations. For this project Spokane Industries is requiring Franklin Electronics to use formalized project management methodologies, earned value cost schedules, and schedules for reports and meetings. Since Franklin Electronics had had no experience with earned value management, the cost accounting group was trained in the methodology in order to bid for the
As the play goes, Macbeth shows a character of free will. Although his destiny was pre-determined for him by the witches, he took action to believe and to make sure that his prophecies will come true. Macbeth is a strong character with many deep desires that include gaining power, and so throughout the play with the many crimes he had committed, there was no turning back for him. In all, his decisions help shape the future ahead of him.
Peter Nicholson wishes to convert the factory in the north east to production of the electric taxi. Using data in Appendix C, Table 1, calculate payback period and the average rate of return.
10. Dan hires Eve to perform at Dan 's Club, but Eve later breaches the agreement to accept a higher-paying job at First Star Arena. Dan files a suit gainst Eve. The court will most likley: award damages to Dan.
In reading the first article Coach Knight: The Will to Win, I found the article found Coach Knight to be very offensive and mean to his players. Coach Knight did not display good leadership skills. According to the article, Coach Knight’s drive and passion for excellence was not always received as well as his record of wins and losses Snook, Per low, Delacey, 2005).
I have chosen to do my research in small business. I want to know what it takes to build a successful business. What are the skills needed to start a new business? What are some of the steps to building a business model and plan? I am working on getting my degree in business. I am a general manager and will be soon help the company expand in opening two new stores in the next few months. This is something that is exciting to be able to expand the brand. This experience will help me when I am ready to own my own business. I know a small business is a big responsibility. As an owner, one has to dedicate lots of time and money to grow the brand and create customer loyalty. I know that simply being in love with an idea or product produced is not enough to survive in the business world. What are the key elements of a successful business? I want to learn more about creating a successful business plan and the logistics it takes to start a small business. I want to learn as much as possible about becoming an entrepreneur.
The ten step process begins with one of the most important steps, and that is creating a business plan. I never really thought about this, until seeing it, and realized in business, along with anything, a plan is the most important part. The business plan helps the owner with forming an executive summary, which will act as a snapshot of what the entire business plan will focus on, along with helping lay out the business. Another key area that is elaborated on in
Starting a new business is an exciting venture and has its unique mix of challenges and rewards. Many are set-up for failure if no clear goals or measures are established and adhered. According to the Small Business Administration, “Planning is critical to successfully starting and building a business.” The best advice for a new entrepreneur interested in starting a business is to create a solid business plan that outlines the business in its entirety. A well-constructed, written business plan will help owners remain focused on their operations, marketing and financial measures through the duration of the business life. In addition, knowing the risks involved in starting a business can help prevent and minimize mistakes that cause many
Person who runs the business and person who assists and works for that person experience different emotions and work to do, but both of these jobs have their own cons and pros. Person who assists to run the business cares only about the wage that he or she gets in the end of the month, while the businessman cares about the whole organization, including staff, all the property, wages of his workers, working environment, advertisement, and else. The more power and opportunity you have, the more responsibility and problems you get. That one person who runs the company should make a perfect environment to work, including people who work for him, because they are a big part of his business that manage to realize his ideas, and make them work properly. More than one million people create their own business every year. All of them have an idea that they believe in, because idea plays a huge role, but it is not the only thing. Business is more than just an idea, and some people forget it and start without even being prepared. It needs a lot of time to plan, and also it requires certain people. Furthermore, it needs financial funding. Before even starting to prepare to be a business executive, person should ask himself if he is ready for that. Do I have that personality and skills to be successful in business? Do I have what it takes? I am sure that I do, so do my parents. That is the reason why I am continuing to make
How shall I start IDEATION should be the first investment of anybody who seeks to be an entrepreneur. Indeed, it maybe said that business starts and proceeds with the process of ideation, of thinking things through carefully, of asking very fundamental questions and giving the clearest answers to them, of formulating alternative plans, and of organizing ideas so that they can be easily translated into effective action. II. What business should I be in A. Personal Considerations The fundamental and long lasting basis for going into a business is delight in it. It has to be something you enjoy. It should give you the chance to deal with people you generally like dealing with. It should afford you the chance to do things you have always wanted to do, as well as go to places you like being in. It must challenge your creativity and entrepreneurship ability. Most im portant, it must lead to self-development, or the development of certain desirable human qualities that are latent within you. Another starting point for business would be the talents
Starting a business is the latest trend. Just take a look at Instagram. Several profiles have the caption ‘Entrepreneur’. At this very moment, there is someone, somewhere working on an idea, a business plan or launching a startup. Entrepreneurship is on the rise like never before. The flexibility and independence that comes with being one’s own boss is attractive and worth taking the leap in starting a business. However, most people don’t know that being an entrepreneur is a grueling journey that can be very lonely and stressful at times. According to the Small Business Administration (SBA), 50% of businesses fail during the first year. Starting a business can be a scary task, but the