Friday, March 7, 2014

EQ 4--What do you think goes in a business plan? What are the parts? Is research involved? What facts do you need to know, if any? Where could you find this information?

I think there are many parts and details to coming up with a business plan. It requires a lot of time, research and energy. First you need to establish what it is exactly what you want to sell and your purpose behind it. In accordance to this, you need to find out who your audience is. You need to research and figure out what type of people you're trying to sell to and what their interests are. You need to decide whether your product needs to be the next new thing, or a way to make their life easier. Next you need to decide how to modernize it and make it look irresistible, something they've never seen before and something that no one else has. Before all of that however, you need to make up a budget for yourself/ your company. You need to figure out how much money you need to invest in order to make a profit. Investments would be hiring help, making business cards, buying the actual supplies, paying for any sort of advertisement, renting a space for your company in a good location and environment, and of course paying yourself. You can find almost anything on the internet these days, another option would be asking a parent, elder, or someone that owns his own business. Figuring out the colors to use for your logo is up to you, whatever fits your personality and reflects what kind of business you're running. It's not an easy task, but if you're willing to work, it's possible.  

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