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BUSINESS PLAN

After coming up with an idea for a business, I would go to either a local community college or an accountant and attorney to gather specific information about the nuts and bolts of starting a business. I would then take into consideration my financial and marketing needs. More specifically I would look into the type of consumers I would attract and what is my geographic market. Performing market research would help me to determine whether or not the particular product I planned to sell would be useful and needed in the particular community I plan to start my business. In other words, what type of demand is there for a particular product. I would also look into the competition I would be facing, whether it would be direct or indirect. To do this I would create a competitive analysis, analyzing several business with similar products and/or services that have failed or succeeded. I would analyze five factors: price of their products and/or services, the location of their business, how ni...

Posted by: Carmen hershman

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