BUS 463 Week 5 Start Up a Small Business

 

Start Up a Small Business
During Week 5, you will complete an assignment in which you propose the value
proposition of a product or service for the business idea that you would like to
implement. You will need to define the competitive market and industry for the business
idea, and you will need to create a strategy on how you will protect this business in at
least two areas. The product idea will need to be tested for feasibility. Last, you will
need to define the amount of cash along with a rationale that will be required for this
business.

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For the first assignment, you will have the option to write a research paper or develop a
PowerPoint presentation that will take you through some of the first steps of the journey
to starting a small business.
Select a business idea you would like to implement, and then complete this
assignment. Note: You will use the same business and product idea that you used in the
discussion topic for Week 4.
Write a 4–6 page paper or develop a 10–12 slide PowerPoint with presentation notes in
which you do the following:
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 strategies for protecting each of the following:
 The branding.
 The logo.
 The product or service.
 The technology (if applicable).
4. Suggest methods to test the product idea for feasibility.
5. Suggest at least three 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 the Internet or Strayer Library to locate at least three quality resources in this
assignment. Note: Wikipedia and similar websites do not qualify as quality resources.