For the rest of the semester, we'll be learning about various ways to structure a new business.  In this week's discussion, develop an idea for a new business that genuinely interests you.   It can be a service business (examples might include real estate, plumbing, computer programming, a shopping website, or a restaurant) or a manufacturing business (examples might include a food product, or crafts, or furniture).   You don't need too many details at this stage, just a wonderful dream. Assume you actually implement this business idea, and it's a big success.   Describe your business in terms of dollar sales, types of assets (offices, cars, manufacturing plants, equipment, etc.) and number of employees in year 1, year 5, and 25 years later. Remember to include all of this information about your dream business at each stage (the first year, 5 years, 25 years).Then, based on your vision for this business, identify the two criteria that would be most important to you when you choose a business organization. Would it be ease and cost of startup and maintenance, taxation, control, liability, transferability, or ability to raise capital? Why are those criteria important to you? Don't come to a conclusion about a type of business organization just yet--that's our discussion two weeks from now.

Also provide some great feedback to your classmates on their ideas. Please put some thought into your answers. Who knows?   One or more of us might actually start their business, and you could offer them the new suggestion or encouragement that helps make that happen.

I'm looking forward to hearing from all of you about your dream business. 

 

I will provide classmates' posts later.