Preparing A Full Plan For Business - 963 Words

Being an entrepreneur is the dream of many, but as most people who try it, know it is not an easy task. â€Å"The simplest explanation for the failure of business is that it ran out of money† (Kurowski, 1997, Para 2). Whether it be understanding the market, preparing a full plan for business, or knowing how you will advertise, you must be knowledgeable in your field of work. Most people attempting to start their own business fail to realize this and will fail within their first year of work and shut down as a result. As any entrepreneur would tell you, starting any company requires having an initial struggle with starting your business. â€Å"According to the Small Business Administration, lack of planning is the number one cause of small business failures† (Awe, 2000, Para 1). As Mr. Simon told me, â€Å"Without proper planning going into the liquor store business, there is no way to be successful.† Being aware of what you are getting yourself into should be taken into consideration far before starting a business. Speaking to other entrepreneurs within your field of work for advice is always a positive. â€Å"Pick an adviser ‘like you pick your doctor’† (Selz, 1993, Para 7). Going into a business blind is not a good idea, having knowledge beforehand from someone with experience will benefit any entrepreneur greatly. â€Å"Before you start your plan, you should carefully research†¦who is my competition?† (Zall, 1999, Para 1). Mr. Simon claimed that, â€Å"Opening a liquor store on the same street as aShow MoreRelatedSwot Analysis Of Carmax s Operating Strategy1130 Words   |  5 Pagesutilized inside of the divided business were unsophisticated. Similarly as numbers for CarMax goes, in the second from last quarter it came to make back the initial investment of $0.00 per offer contrasted with $0.31 a year prior and from $0.00 per offer from the past quarter. The arrival on value has enhanced marginally when contrasted with the same quarter one year former. Contrasted with different organizations in the Specialty Retail industry and the general business sector on the premise of profitRead MoreGetting the Contract: Process of Pre-Negotiation954 Words   |  4 PagesRunning Head: GETTING THE CONTRACT Getting the Contract BUS 401 Assignment 01 March 2013 Scenario A CEO/owner of a large business that starts from the concept phase into the full production is ready to expand his business by competing for government contracts. The report presents the strategies that the CEO will employ to win a contract from the government. 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