Discussion and respond 250-300 WORDS

BUS 402 DISCUSSION

• Inc. magazine claims, “Entrepreneurship is more mundane than it is sometimes portrayed . . . you don't need to be a person of mythical proportions to be very, very successful in building a company.” Discuss whether you agree or disagree with this statement and why.
• Analyze the characteristics of a successful entrepreneur and determine if you have what it takes to start your own business. Provide specific examples to support your response.
• Analyze the steps involved in developing a strategic plan for a company and determine which step is the most difficult to get right. Explain your rationale.
• From the e-Activity, determine how you would leverage the support provided by the U.S. Small Business Administration in planning and starting your own business. Provide specific examples to support your response

RESPOND 1

• From my perspective, a competitive analysis is the most difficult step in strategic planning to get right.  A competitive analysis is extremely important to any companies marketing plan. Without proper evaluation, a business owner will never be able to establish what it is that makes his/her product and/or service unique. Therefore, being able to establish a competitive analysis should not be taken lightly.
• I would leverage the support provided by the U.S. Small Business Administration by researching what SBA has to offer, learning about various grants, and connecting with approved SBA lenders. 

RESPOND 2

I totally disagree with the claims made by Inc. magazine. Having your own business is exciting. It does have a lot of ups and downs, however with proper preparation and determination, I believe that anyone can build and run their own business successfully.  

While it doesn’t take a person of mythical proportions to be very successful, it does take someone who is ambitious, determined, and is driven to see it to the end.

I believe that I have exactly what it takes to start my own business. I am very determined with a high level of confidence, and am not afraid to risks. I understand that failure is part of my success. Understanding my strengths, weaknesses, opportunities, and threats will only help me to grow my business.