For Students‎ > ‎

A. Brainstorming About Your Business

DIRECTIONS: You have decided that entrepreneurship is the career path for you! The freedom to do what you want, the unlimited potential for success, the chance to change the world, the...

OK, that's great- but what type of business are you starting, exactly?

Before we dig in to creating your business plan you need to brainstorm what that business is! 

Now is the time when thinking in a fun, creative way comes in handy. Think of things you like and are interested in. Think of where there may be a problem or need that calls for a new service or product. 

Come up with 10 ideas big ideas, and then narrow down your choices based on the following questions:

  • Do you think your idea(s) can generate money. Will people want to buy this? Who am I targeting this service/product to?
  • Do I like this idea? Can I see myself working on this idea for several years?
  • Will this be a sole proprietorship or general partnership? Perhaps another business form? Will the different business setups affect my idea?
  • What are the benefits of my service or product to society/customer?
  • What will I call my business?
  • Who are my competitors? What challenges do I expect? 

When you have narrowed down your ideas, fill out the attached information form, trying to answer the questions as completely as possible. Then, see your teacher to discuss your idea and receive feedback. DO NOT move on to research until you have met with your instructor!

Tips: If you are comfortable using web tools Bubbl is a great way to create an idea map. Create an account and you can save your maps, email them, etc. Here is an example map for our fictional company.

Some other cool brainstorming tools include Dabbleboard and TypeWithMe. Check them out if Bubbl is not your style.

...

-Graphic organizer- (will this be a web page or file or both?)
When you have a solid business idea. Answer these questions:
You can use the form attached below.

Name of your business

Type of business organization (sole proprietorship or partnership only)

List of services/products

List benefits of business to society

Challenges in operating the business

Competitors

Example

The environmentally aware workout crowd would be well served by a bit more motivation and personal style injected into their daily routine. They all need workout clothes. They all need motivation. They just don’t want to contribute to the death of our planet. Get Moving shirts meets that need with stylish, motivational tshirts made from the world’s finest fair-trade, organic materials.

Challenges: Clearing Federal Fair-Trade and Organic restrictions.

Competitors: Physical Fitness Fun Wear, Go Hard or Go Home Wear

Subpages (1): A1. Research
ĉ
Rudy,
Aug 4, 2010, 3:47 PM
Comments