ASSIGMENT: You are an Entrepreneur
Dr. Brandy Havens
November 15, 2014
Business Type The business selected for this paper is Melt Away. Melt Away is basically a weight lost business that is based on a website. This company based on losing weight provides valuable services daily at five dollar per day cost for the fitness regimes and meal guides that are personalized to the requirements of clients. This offer will consist of a conversing class with a mentor who will construct a health and physical fitness programs for the clients according to the data collected from the clients. Through a system of routine attendance, the mentor will observe the exercise and diet plan. “A Mission Statement defines the business's purpose and primary objectives. Its prime function is internal – to define the key measure or measures of the business's success – and its prime audience is the leadership team and stockholders” (mindtool, 2013). Melt Away’s mission statement will progress toward a universal purpose of the company, pertaining to the provided product or service, the projected clients of the company, and the manner it will be performed. The company will constantly expand its statement of mission for keeping an eye on expansions, for being philosophical in the course of requirements of the clienteles and being prepared for dealing with methods of the competitor.
Staffing Plan Audience has been targeted by Melt Away, and it works for gratifying expectations of its clientele at practical costs.
The company would make elite procedures and strategies, performing the effortless things in an exceptional manner.
The conceptions and techniques presented at current might be newer nonetheless due to diminished entry obstacles and improvement forecasts impending to maintain the periphery over competitors is implausible. Marketing campaigns would help to promote revenue establishment, internet surfers, image and brand name. The company would provide useful services and add-ons to clients during registration. Clienteles can access to website every time eradicating the concept of waiting as in real weight loss plans.
The company would construct and expand tools for evaluating and scrutinizing the effectiveness of the staff. These tools may possibly be a mixture of non-monetary and monetary configurations of evaluation of performance. To be competent of enhancing its functions’ competence and cutting costs, Melt Away would center on controlling on the redundant working expenditures. By this staff would be inspired for working from their homes. With the intention of enhancing the sales and enhancing the base of clienteles, Melt Away would center attention on enriching the techniques of its marketing by advertising in print and electronic media. The company would center attention on using sophisticated innovative technology for enhancing its functions’ expertise and overall effectiveness of the company. Two times a month, the company would execute guidance classes on the usage of up-to-date initiated technology. The company considers that superior levels of employee effectiveness can result in attainment of overall goals of the company in case the people’s objectives are attained. The company would center attention on inventing SMART objectives keeping stability in the center of private and managerial goals. The company would initiate programs of employee escalation and incentive with the intension of observing its valued staff. The key attentiveness of this objective would be to keeping the per annum proceeds ratio under seven percent.
Business Form The form of this company would be a partnership. “A partnership is a business in which two or more individuals manage and operate the business. Both owners are equally and personally liable for the debts from the business” (Investopedia, 2013). Business losses, proceeds, debts, and operating cost are shared by the partnership. A partnership is just as