Assignment 1: Start Up a Small Business
Due Week 5 and worth 230 points
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 seven to eight (6-8) page paper in which you:
- Propose the value proposition of the product or service the business will offer and explain the rationale.
- Outline the competitive market and the industry in which the business will operate.
- Determine at least two (2) strategies of each for protecting the following:
- the branding
- the logo
- the product technology
- Suggest methods to test the product idea for feasibility.
- Suggest at least three (3) strategies to incentivize the founding management team.
- Estimate the amount of cash needed to start the business. Provide a rationale to support your estimation.
- Use the Internet or Strayer databases to locate 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:
- This course requires use of new Strayer Writing Standards (SWS). The format is different than other Strayer University courses. Please take a moment to review the SWS documentation for details.
- Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow SWS 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:
- Develop an effective business plan to launch a small business.
- Determine the feasibility of a small business based on a given industry and market.