Essential Question 12

Explain in detail (Not just list) 5 things you learned during the research for your business plan.

During our business planning, we were asked to research many different things that are needed in order to start a business. I learned many things during this assignment, but I will tell you 5 of them. The first thing I learned was development. Before beginning a business you must be sure of what you're going to be producing, you must have a list of products and services that you are going to be able to provide. The second thing I learned is the process, starting a business is not as easy as it seems, it takes a lot of work. The next thing I learned was planning. Before you start a business, you must plan ahead for months, and maybe even years, to make sure that your business will run steadily. The fourth thing I learned was employment. Running a business on your own definitely would be very hard, so you've got to have a staff of employees to help get your business up and running smoothly. The last thing that I learned were the finances. I didn't realize just how much money you have to put in to start a business. You have to pay bills, and taxes, salary for employees, appliances, the cost of your building, and plenty of more costs. We learned that it actually take about three years before a business starts making money after they have been in service, that is a very long time.