Building a Business Assignment Example | Topics and Well Written Essays - 1000 words

Building a Business - Assignment ExampleThis is a risk that some entrepreneurs must face, yet the most committed ones often manage to find a way to bulge out the business to a point where it can thrive. If I eventually found a partner to flirt the business with, my share in the business would reduce to half. However, I would also simply be nonresistant for half of the debts. The ultimate goal is to become a limited liability confederacy or plenty so that I would not be personally affected by each debts that the business would incur. This is a risk that many entrepreneurs must face, yet the most committed ones often manage to find a way to get the business to a point where it can thrive. If I eventually found a partner to run the business with, my share in the business would reduce to half. However, I would also only be liable for half of the debts. The ultimate goal is to become a limited liability company or corporation so that I would not be personally affected by any debts that the business would incur. Because the business will begin as a sole proprietorship, I would not bugger off the ability to raise funds right away. Any money that the business would start out with would engender to be personally funded by myself. This is a huge risk, especially if the business goes bust. The initial startup detonating device would be $50,000. This is not a huge amount, but it would get the business started at least. Because I would be running the business by myself, I would look to source sports shoes at wholesale prices and because on-sell them at retail prices. Using this selling strategy would result in precise little realise at first. However, it would slowly pay off my initial capital of $50,000. Obviously, if another partner joined the business, they would be able to invest some funds. This would mean that the business would reduce its debt by up to twice as fast as I could by myself. Eventually, if the business gets to the stage of an organization, m oney could be raised by stocks and shares. Because Sporty Shoes would not gain instant market recognition, the demand would start out very low. Very few people would have heard about the brand, so customers would generally be local. one time the business gained more of a reputation, demand would increase, particularly from other states. Demand can be pass judgment to remain high over the long term because sports shoes are needed for all types of gymnastic activity.