Start Up a Small Business

You may choose any business you desire.

Start Up a Small Business

Select a business idea which you would like to implement and complete this assignment. Note: You may use the same idea that you have used in discussion topics during Week 2 through Week 4.

Write a six (6) page paper in which you:

1. Propose the value proposition of the product or service the business will offer and explain the rationale.

2. Outline the competitive market and the industry in which the business will operate.

3. Determine at least two (2) strategies of each for protecting the following:

1. the branding

2. the logo

3. the product technology

4. Suggest methods to test the product idea for feasibility.

5. Suggest at least three (3) strategies to incentivize the founding management team.

6. Estimate the amount of cash needed to start the business. Provide a rationale to support your estimation.

7. Use at least three (3) quality resources in this assignment. Note: Wikipedia and similar Websites do not qualify as quality resources. 

Your assignment must follow these formatting requirements:

· Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

· Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

· Analyze the business creation and start-up process.

· Evaluate the financial requirements and management of a small business.

· Use technology and information resources to research issues in entrepreneurship feasibility and analysis.

Week 2

A business I could create deals with retail. It specializes in different product groups and has both physical stores and online one. The value offered by this business to its customers will be in its high attention to customers and they needs, as well as customer care in everything. For example, the business would offer special services to help in selecting products, as well as special warranties and other services. I think the value offered to customers would be enough to succeed. There are many retail firms in our days. However, most of them do not offer such services and benefits to customers. There are many complaints about unsatisfactory level of customers services. Thus, it would positive influence competitive position of the new business.

The value proposition, which Rosenblatt offered with iMall was in the benefits of this platform in relation to its competitors. This platform offered special propositions for small merchants, and they were not offered by competitive firms in 1990s (Allen, p.491). This value proposition contributed to high sales price of iMall. If compared to the state of e-Commerce today, this value proposition would not work. Nowadays, e-Commerce is more developed, and many companies offer such benefits to their customers.

Reference

Allen. K. R. (2011). Launching new ventures: an entrepreneurial approach. Cengage Learning