China Steps to Business Essay

Submitted By carrieeking2000
Words: 764
Pages: 4

Carrie King
Mr. Mays
10/27/2012
Project Description

The first step in creating a multi-millionaire computer business for Bill Gates is to do your homework. Some ways to do this are : study the research are what niches might be unexplored; talk to other business owners in the area, (especially computer business and use their information to decide how our business might be structured to address the available markets; ask friends or even conduct a poll about what the community members would want to see in a computer factory). The second step is to put together a business plan. The business plan should be a formal document describing our formal venture; it will state our goals, why we think those goals are achievable and a strategy to reach them. We will be pitching our business plan primarily to lenders and investors, so financing our endeavor will depend upon putting together a solid business plan. A business plan has many components. We need to include a good executive summary. Our executive summary presents our overview of the entire business in one page. It is vital we impress our reader with our executive summary, they may not even read the rest of the business plan. The second component is a solid marketing plan. This is most likely the most important part of our business plan. Our marketing plan must demonstrate to our reader that we have analyzed our target market . This includes details about our products, our distribution strategy, our pricing scheme, and our marketing budget.

The final component is, it is important to not to neglect our financial documents. Leaders and investors look at this section first. We need projected balance sheets, income statements, and cash flow statements. We must prove to investors that they can see a quick return and show lenders we are not a risk for default. Finding a good rental space is essential to running a successful business. We need to make sure our factory is located in an area with a lot of pedestrian traffic, if possible. We need to comply with local zoning ordinances and pay attention to tenant improvements we will have to do, such as repairing the factory work area. Obtaining the proper financial documents how much start-up capital we will need, and his formulates a plan to get that money. This money will come from three primary sources : the United States government , investors and lenders. Achieving a balance between these three sources is crucial to the financial health of our business. We must prepare to put some of our own money into our business. Lenders like to see this, because it shows them have a vested interest in not defaulting on our loan. It’s essential we attract money from investors. That we get in touch with friends or venture capitalists and convince them that our business is a promising investment. When investors give us money, they…