Reference no: EM132885981

1. Identify a business you would like to create. What health, community, and environmental concerns might emerge as you imagine building your firm? Where would you turn for advice and information to anticipate how you should respond? Why?

2. So many people want to become their own boss. So they take the steps needed to become an Entrepreneur. Being an entrepreneur isn't just hard, it's really hard. Your days and nights, or more so your entire life, are dedicated to developing a business that you know in advance is highly likely to fail if it is not done properly. One of the biggest failures in a business adventure is planning.

The reality is 80 percent of new businesses crash and burn within the first 18 months, according to Bloomberg. I believe that, more often than not, failures come as the result of people not being set up or prepared to leave behind stability for chaos.
Identify ways to properly plan and develop a strong strategy for a business to flourish.

3. Someone once said, "failure to plan is a plan to fail". How might this apply to run a business?

4. What is a feasibility study relative to a business plan?

5. Describe the meaning of a "breakeven analysis" in relation to a business start-up initiative.

6. Support your responses through examples.