Business Finance Homework Help

1. Entrepreneurship

This first assignment has three parts, You MUST complete all of them to receive full credit.

Part 1. We live in a world where there’s a 50% chance that any job that you get is going to be taken over by a machine by the year 2025, such as ATMs have done with bank tellers.  The only way that you can earn money is to therefore either sell something that you make to others or to do something for them that they cannot do for themselves.  Write a 5-paragraph essay about going into business for yourself to sell this product or service.  Your Essay should answer these questions:  What is the value would this product or service give to the buyer?   Why would a customer choose their product or service instead of that of another business? Who would be the types of customers (or customer segments) that would be expected to desire this product or service?

Part 2. Describe your sales and logistics strategies.  Your essay must answer the following questions: How are you going to market your product or service to your potential customers?  For example, will you sell exclusively on line or through distributors?  Will you develop a brochure or a data sheet? Where and when will you advertise?  How much is your marketing going to cost?  How will you use technology to assist you?  Research advertising media and distribution costs.  Explain how you arrived at your estimates

Part 3. Describe your operations.  How specifically will you make or obtain your product or provide your service?  What is the special equipment or special skills that will be needed of the making it?  What kind of space will you need: Will you need a factory or retail space, for instance?  How many square feet?  Research development costs.  Explain how you arrived at your estimates.