Business Plan For Starting A Business - 1168 Words

Entrepreneurship When starting a business there are a number of factors to determine in order to ensure its success. To start, the entrepreneur should determine a business plan with a well developed idea After determining the business plan, they then should look at the three basic forms of owning and running a business: sole proprietorship, partnership, and a corporation. A sole proprietorship is a business ran single-handedly by one owner. There are partnerships, where two or more parties collectively manage a business together on particular terms. Lastly there are corporations, which are legal entities that have separate liability from the owners. In addition to these, franchising and co-operatives are also viable options for those who feel uncomfortable starting up their own business from scratch. (Nickles, 2013) It is best to examine every aspect of each option to determine which is most suitable or desirable for each individual’s needs. Before opening a new operating bus iness entity, an entrepreneur must understand the fundamentals to running the business, such as, financing, products needed to run the business, particular documentation that may be needed, a lawyer for legal aspects, knowledge on the current world of business, and most of all, a desire and the ability to take on a challenge. To offer a better perspective, an entrepreneur wants to start a new clothing line for the University of Regina. He/she will begin by establishing the business’ plan and thenShow MoreRelatedEssay on Starting a Business Plan1664 Words   |  7 PagesStarting 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, â€Å"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 bu siness plan that outlines the business in its entirety. A well-constructed, written business plan willRead MoreIntelligence into Success1435 Words   |  6 Pagesdream and often fathom about starting their own small business. Becoming a successful entrepreneur has been part of the American dream since the early 1800‘s. In addition to giving a person the ability to make his or her own decisions, business ownership opens the gateway to financial independence, creative freedom, and more time to spend with family (Smallbusiness.com). Nevertheless, how hard would it be to start a small business and be victorious? â€Å"Starting a business involves planning, making keyRead MoreHow You Start Your Business?1019 Words   |  5 Pagesstart your business? Starting a small business isn’t easy, but it isn’t impossible. According to the small business administration 99% of all businesses in the United States are small businesses and they employ 80% of the population, so many people have already succeeded in starting a business. But this doesn’t mean that starting a business is a walk in the park, according to Forbes 8 out of 10 businesses fail within the first 18 months. There is a lot of hard work required in starting a small businessRead MoreMarketing Plan For A Successful Coffee Shop1105 Words   |  5 Pagesthemselves if someone wants to start a business they have to be prepared. They can not just start a business without a good strategy; they have to have preparations in place in order for the business to become very successful. For example, the Starbucks Company started with one store in Pike Place Market in Seattle, Washington in 1971. Starbucks now has over 21,000 stores in 65 different countries. To achie ve this level of success, one must have a good business plan, excellent marketing materials, andRead MoreBusiness Case Study1025 Words   |  5 PagesWhat 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 dont 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,Read MoreA Career as an Entrepreneur Essay example1667 Words   |  7 PagesBusiness has been a large part of my family, and has started to grow on me. My dad worked in sales for many years, and is now the President of a company in Staples. My mom started her own cleaning business, and now works for herself, as well as my uncle owns a golf course, and a pump and well business. My other uncle has his own handy man business, while one of my aunts operates a redimix and construction company . So I guess it co uld be said, business is kind of in by blood. What I know WhenRead MoreA Brief Note On Start A Successful Business1170 Words   |  5 Pages12/11/14 How to Start a Successful Business Have you ever thought about starting a business? Millions of Americans do. This is your guide on how to begin. Through the implementation of a business plan along with thorough market research, you will gain the sustainability needed to begin a business. These techniques have been tested by those in the business and are backed up by extensive research. This paper will not only help others on their journey to starting a business, but myself as well. I hope toRead MoreDesigning A One Stop Shop For Aspiring Entrepreneurs918 Words   |  4 Pagesone-stop shop for aspiring entrepreneurs who need assistance into building their business form the ground up. This application main task is to assist users in the steps of getting their business off the ground giving them access to tips, tools, and resources that will allow them to successfully start a business. The application will be called â€Å"The Startup† since it’s assisting users in starting up their own business. The target users for this application are for particularly for college studentsRead MoreSmall Business Essays1489 Words   |  6 Pagesbusinesses. A new business is established to create a good or service that no other businesses have ever created or simply a product of higher quality than existing products, with the purpose of meeting customers’ needs and earning profits. Due to the technological advances at the present time, starting and operating a new business is less laborious. Nevertheless, would-be entrepreneurs should be familiar with the proper approaches to start their businesses. The first step to starting a business is to createRead MoreReasons For Start A New Business Essay1552 Words   |  7 Pages5. A) There are several reasons for starting a new business. The benefits include the owner’s ability to make virtually all decisions in the business, and can run it exactly as they please. The owner has the freedom to define the nature of the business, and create the preferred type of physical facilities. The owner can select a competitive environment, and take advantage of the latest technology, equipment, materials, and tools. The owner will also have control in selecting and developing personnel