Business Finance Homework Help

Project 1: Finding New Business Opportunities

Project Purpose

In this project, you will select a new business opportunity, that interests you, and which will be the subject of all the course work assignments. You will explain why this opportunity is for you and at first, blush appears right for you to begin.

Outcomes You Will Meet by Completing This Project:

• Able to identify a possible business opportunity.
• How to predict the target market for your product or services.
• How to evaluate the personal probability of success.
• How to evaluate for potential competitors.

Instructions

Review some of the ways to find ideas in the class material to help you select a business. You may have idea of your own already that is great but be careful to look at is commercial viability and your ability to make it happen. There are also some ideas in the articles listed below. Select an idea that you personally believe is a business you could start and could participate in developing. In making your choice, pay close attention to the idea of whether you have an idea in which people will benefit from and therefore buy what you are selling. NO business is too small as long as you make money.

In two pages write a thumbnail sketch of your idea, along with an explanation as to how the idea was selected by you and why it appeals to you personally. Answer the following questions in your explanation:

• Is this a new business idea or is their existing competition?;
• Does this idea serve to fill a need sufficient enough to appeal to a wide group of customers?;
• Who is the group target market that would be interested in this project?;
• Complete a Pest Analysis Pest Analysis Format
• Do you have the core competencies to run a business of this nature?; and
• Is this idea financially viable for you?

25 Businesses You Can Start for Under $100

Best Business Ideas to Start While Working Full Time

Create a Word or Rich Text Format (RTF) document that is double-spaced, 12-point font. The final product should be no more than 2 pages in length, not including the title page and reference list.

Submit the paper in the Assignment Folder (The assignment submitted to the Assignment Folder will be considered a student’s final product and therefore ready for grading by the instructor. It is incumbent upon the student to verify the assignment is the correct submission. No exceptions will be considered by the instructor).

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How to Set Up the Paper

APA and writing is an important part of demonstrating good communication skills. Should you need help in any these areas, please refer to the APA module located in the content area of the course or ask the professor for guidance.

Use the grading rubric and instructions as guides. Be sure to cover all that is asked of you in the assignment and do so in a way that will guide the professor into giving a high grade. Finally, all work that you submit for this project should be your own. Remember your pledge to uphold academic integrity in all work that you prepare and submit.

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Use below as references as well

Week 3: Opportunity Evaluation and Feasibility

Theme 1: Opportunity Evaluation

Our gut feeling that an idea is good is not enough. An idea may seem good, it may be good, and it may be passionately exciting but the same idea may not be a viable business opportunity. It is important to spend time evaluating the commercial viability of an idea before devoting precious time and resources to its implementation.

• Single Biggest Reason Why Startups Succeed
• A Business Idea May or May Not be a Business Opportunity
• Small Business Ideas vs Small Business Opportunities
• Six Criteria for Evaluating New Business Opportunities

Theme 2: Opportunity Evaluation Tools

• What Is a Feasibility Study?
• Porters Five Forces
• Interview with Porter Explaining the Five Forces
• Evaluating the feasibility of your new idea
• Pest Analysis