Week 2: Week 2 - Individual Work 2 Essay

1277 WordsSep 11, 20136 Pages
1.Eric seems to have beaten the odds already. What do you think Eric would tell you about success (or failure) and how to learn to be a successful small business owner? Eric would tell me the Success and failure of running a successful business. First, he will tell me that success or failure of a business is depending on overcoming a series of potential barriers, sufficient financial backing, appropriate guidance. He will also tell me that I need to be self motivated. And that I need a good business plan to back me up. Eric will also tell me that people start their own business to be their own boss. And to make their own hours. Eric also stated that the time and effort put into these plans are crucial for success. He will also tell me that the fail side is that there is a high proportion of new business. That I also need to do my research before I open my business. Reach where I am going to open my business. I need to have a business plan. And a bank or a partner to financially to back me up. Also what my to be a successful business owner I might need a lawyer or someone to help me organize my business. Knowing how much start up money I need to get started. Set up my book keeping system. And a system to keep up with my payroll. If I follow Eric small business steps I am sure to be a successful business owner.(weegy) 2.Now, fast forward a few years. Eric has graduated from school, and is ready to start his new business. He has never completed a business plan and does not know what key components should be included within a business plan. Describe for Eric the purpose for each of the following components of a business plan: Cover Letter: Resume cover letters may also serve as marketing devices for prospective job seekers. Cover letters are used in connection with many business documents such as loan applications (mortgage loan), contract drafts and

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