Business Idea Paper

Posted: January 10th, 2014

Your written assignment for this week is an exciting opportunity to think about a future small business that you would like to create. This assignment will help you visualize how each new concept in the textbook will assist in the development and operation of your business. It also will provide an early opportunity for you to focus on the small business concept paper due for the Final Project in Week 7. While you may choose a different small business idea for your Week 7 Final Project from the one used in the Week 1 paper, this assignment will surely help you in conceptualizing the process.
When you have chosen the small business idea, you will complete a written paper describing your small business and why you have selected this venture. Your paper will be 1-2 pages in length (double spaced), not including the cover sheet. The paper will include the following information: What kind of business do you want to create and what will be your product or service? Where will the business be located? In general terms, who will be your customers and competitors? What will be your source of startup capital? How many employees will you need? There are many failures in the small business arena; why will your business idea become a success? What excites you about small business and the entrepreneurial challenge?