Assignment: Introduction to Entrepreneurship- Business Models
• Have you ever wondered what it takes to start your own business? Now, you don't have to! In this course, you will develop a business plan for a small business or startup. You will do this through a four-part assignment, where you will gradually build up your idea into a completed plan.
First, you need to propose a business idea and submit it for approval. This could be a small business or startup of your choice. Then, each of the assignments throughout the quarter will build on each other to form a final business plan. You will take feedback from all submitted portions of your plan, revise, add a few final pieces, and then submit the final business plan.
The assignments are as follows:
• Assignment Topic
o Choose a small business or startup idea you would like to research and write about for the quarter, and submit your idea for approval.
• Assignment 1: Business Models
o What is the best business model for the small business or startup you have chosen? In one page, outline at least three different business models and then select the best model for your business. Then, give a short statement explaining why this is the best model.
• Assignment 2: Target Market Segment
o Who is your target market? In a one page paper, develop a full target market segment for your business plan.
• Assignment 3: Startup Funds
o Write a one page overview of your plan for the startup funds and working capital strategy for your business plan.
• Assignment 4: Final Business Plan
o Now it's time to pull everything together and create your final business plan. Make sure to review all the feedback you received for Assignments 1, 2, and 3, and make the necessary corrections. Then copy and paste it all into one document, and add an executive summary and an exit strategy. The executive summary is a snapshot of your business plan as a whole and should touch on your company profile and goals. Additionally, the most successful exits in business require considerable planning. You will need to discuss two key factors to consider when planning your exit strategy.
Assignment 1: Business Models
What is the best business model for the small business or startup you have chosen? In one page, outline at least three different business models and then select the best model for your business. Then, give a short statement explaining why this is the best model. Remember, you will take feedback from all submitted portions of your plan, revise, and then submit the final business plan in Week 9.
Write a one page outline in which you:
1. Briefly describe three different business models.
2. Select the best business model for your business.
3. Create a short statement explaining why the business model you have chosen is the best model for your business. Give at least three supporting facts for your choice.
4. Format your assignment according to the following formatting requirements:
. Typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides.
a. Include a cover page containing the title of the assignment, your name, your professor's name, the course title, and the date. The cover page is not included in the required page length.
The specific course learning outcomes associated with this assignment are:
• Examine the process of innovating and developing ideas and business opportunities.
• Analyze different innovative business models to determine the best model for a specific venture.
• Analyze the management of a successful innovative company.
• Use technology and information resources to research issues in entrepreneurship.
• Write clearly and concisely about entrepreneurship using proper writing mechanics.