Starting A Small Business Essay

1301 words - 5 pages

AbstractStarting and managing a business takes motivation and talent. It also takes research and planning. Although initial mistakes are not always fatal, it takes extra skill, discipline, and hard work to regain the advantage. Take time beforehand to explore and evaluate your business and personal goals, then use this information to build a comprehensive and thoughtful business plan that will help you reach these goals. The following paper will elaborate on the business strategy of Jingles Resume Writing Services. You will read about the business' mid-project status, as well as its incremental and project-to-date variances. You will also read about the cause and potential corrective actions.Project Status ReportJingles Resume Writing ServicesFor the past five years, I have been considering creating my very own business. The business that I have been contemplating on exploring is the resume writing business. The reason that I have been contemplating on venturing into this business is because not only am I an excellent resume/cover letter writer, but for other reasons which include:Self-managementFinancial independenceCreative freedomFull use of personal skills and knowledgeI came to this realization after I began to think about what it was that I wanted to do with my spare time. I knew that I had many talents that were yet to be explored, but I just could not pin-point what it was that I was good at. So I began to ask myself the following questions:What do I like to do with my time?What technical skills have I learned or developed?What do others say I am good at?Will I have the support of my family?How much time do I have to run a successful business?Do I have any hobbies or interests that are marketable?Next, I began to do some realistic thinking as far as what exactly it was that I wanted to do. I knew that I had many talents, but was there one talent that I could potentially capitalize on? Hence, I asked myself the following questions:What business am I interested in starting?What services or products will I sell?Is my idea practical, and will it fill a need?What is my competition?What is my business's advantage over existing firms?Can I deliver a better quality service?Can I create a demand for my business?The final list of questions I asked myself were the following:What skills and experience do I bring to the business?How will my company's business records be maintained?What equipment or supplies will I need?How will I compensate myself?What are my resources?What financing will I need?Where will my business be located?What will I name my business?Shortly after generating this list, I realized that my talent in resume and cover letter writing was certainly a great first start at owning my own business. I allotted myself a month (four weeks) to accomplish this goal, for it is going to begin as a home-based business. Once it expands, I will consider location and other necessities.During the first week (first period), I decided to list some of...

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