Contemporary Business 14th Edition by Louis Boone, David Kurtz

Exercise 17

Many entrepreneurs turn a hobby or area of interest into a business idea. Others get their ideas from situations or daily problems for which they believe they have a solution-or a better solution than those already offered. Think about an area of personal interest-or a problem you think you could solve with a new good or service-and create the first part of a potential business plan, the introduction to your new company and its offerings. Then outline briefly what kind of financing you think would work best for your business, and what steps you would take to secure the funds.