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What percentage of your budget is needed for marketing

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Question: Successful entrepreneurs have a vision of what they wish to accomplish that is so clear and exciting that it guides all their actions and decisions within an organization. By building on this vision, they can then focus on the individual steps necessary to bring their ideas to fruition. Visions and plans are important because they help define a start-up's goals and determine the steps necessary to achieve those goals. In this Assignment, you begin to develop a vision statement for your Course Project small business idea.

For this week of your course project, you will continue to develop the specifics of the business plan for the venture that you are proposing (Cardio gym). This will include a brief description of the strategic, financial, and operational considerations for your organization. Think about where you want your business to be in 1 year, 5 years, and 10 years. Consider the types of operational planning that will be necessary to have the space, resources, and employees to handle anticipated needs. For what basic costs will you need to plan? With these thoughts in mind, develop a 2- to 3-page vision statement of your business's controlled growth strategy.

Include the following elements in your business's vision statement:

• A strategy for growth during the first year, for the first 5 years, and for the first 10 years

• Short- and long-term operational functions

• Short- and long-term marketing strategies

• Type of employees needed and their major responsibilities

• What percentage of your budget is needed for marketing, profit, and labor? Be sure to justify your budget.

Reference no: EM132195926

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