Business Finance Homework Help

udent Learning Outcome: Students will demonstrate knowledge of the elements and considerations required to start a new business. (Ch 5/6)

Review Discussion & Writing Assignment: Grading Criteria

Read: In this assignment, you will think to write about what it takes to start a business using concepts learned from chapters 5 and 6.

Pick a business you might want to start right now. Think about something you are good at or enjoy doing AND something you see a need for in your community or area.

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You will need to support your claims with outside sources. Include citation/links at the bottom of your post.

I will grade you on whether you provide support or not. For example I want to start a dog walking business because I know a lot of people have adopted dogs during the pandemic and as we are becoming vaccinated as a population, more people will go back to work. OKAY, BUT WHERE IS YOUR EVIDENCE?

Like this. According to an ASPCA survey given during the first two months of the pandemic, adoptions were up 400%. https://health.usnews.com/wellness/articles/adopting-a-new-pet-during-the-pandemic (链接到外部网站。)

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Ideas for small businesses or where to start: Maybe you are really good at algebra, AND you notice many students struggling during the pandemic. You can start a tutoring business. But think about how do you know there are students who need tutoring? (Must find outside source – something to support your answer)

Maybe you love shopping for deep discount sales, you can sell products online through retail arbitrage. (What products will you sell and how do you know they are actually moving?)

Do you love dogs? You can walk dogs as people are heading back to the office and during the pandemic, dog adoptions were through the roof. (Is this really true? Find facts to support it)

Are you are a talented dancer? You can give dance lessons if there is a need. (Are you sure you’ll have takers?)

Do you have experience in a niche area or field? Maybe you’ve been in a specific industry for some time, you can start a consulting business.

Take amazing photos? Do you make great chocolate chip cookies? You can sell baked goods, you can (fill in the blank.) You may read my College Micropreneurship Story here.

Task: Respond to this post for each of the following numbers

• Using at least three bolded terms from the text (bold them).
• Support your claims or estimates by facts or reasoning (give the reason why your idea is likely to work)
  • cite sources

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1. Name the kind of business you might choose (if you’re having a hard time choosing, feel free to choose something from above)
2. Demonstrate who the market is for this business and why there is a good chance they are interested:
   1. Who is the target market? Specifically. Age range, gender(s), education level, income, likes, dislikes. Be clear on the market. Do NOT say, everyone. When you are selling to everyone, you are selling to no one, especially at first.
   2. How do you know they want the product or service? Look at other trends, likes, substitutes, etc.
3. How much would it cost to start this business?
   1. 1. Specifically, give a ballpark estimate based on costs associated with startup. Show those numbers here.
      2. (Where would you get the money if it’s more than you have?)
4. Choose the type of business ownership you would start with and give one reason why
5. Name one thing you’d do to protect yourself as a business owner

About 250-300 words