Starting your business
Objectives:
Determine the business you wish to create for future projects in the EBMS program.
Conduct research into Startup Costs and Expenses for your chosen business.
For this discussion, I want you to think about a business you plan on starting (real or hypothetical) and what you would need to start that business. No, I don’t just want you to write “I need money” as an answer!
Every business needs a beginning, and while you are not ready to open doors and start selling your product or service yet, there are many expenses to consider. For this assignment, you are being asked to think of everything (and we mean EVERYTHING) that you would have to pay for in order to be able to actually start your business.
Instructions:
1. Think about a business, real or hypothetical, that you would like to start. In 2-3 paragraphs, explain the type of business you want to start, and why you feel you can be successful with this business. Be specific, dont simply say Im starting a management company without going into detail on what type of clients you will be managing.
Deliverable: 2-3 paragraphs explaining your business and your reasons why you feel you can make it succeed.
2. List the expenses and assets you would incur before being able to start your business. Dont worry about the cost of these items yet (well get to that in the future). Simply write down the items you feel your business will need prior to opening the doors for your clients and customers. No expense is too small! If you have to pay for it, put it on the list!
Deliverable: List the expenses and assets you would need to pay for in order for your business to begin generating revenue.
3. Enter a response post to at least one of your classmates initial posts. Response post must be a minimum of one paragraph, and should consist of useful commentary on the initial post. Simply writing good post or I agree is not acceptable.
Deliverable:
Initial Post: A 2-3 paragraph post, followed by your list, covering the above submitted by Wednesday at midnight of Week Two.
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