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For this assignment, you will now turn your attention to financial
portion of your business plan. Think carefully about how much money you
will need to get your business started, what your specific expenses will
be, and the best sources of financing for your business. Review the
background materials on financing options and business plans, and then
write a 3-page paper covering the following issues:
1. How much it will cost you to get your business started. Include a
breakdown of the different expenses that you will face in the first year
that your business is operating.
2. What source of financing will be the best choice for your new
business? Consider all the options—venture capital, angel investors,
your own savings, banks, etc., and then explain and justify your choice.
Reading:
Seifert, R., Leleux, B., & Tucci, C. (2008) Chapter 3: Venture
Financing, Nurturing Science-based Ventures: An International Case
Perspective, Springer, London, pp. 220-240
Feldman, D. (2013). Chapter 7: Financing Your Company’s Growth: The 6
Most Common Methods of Financing. Bloomberg Financial: Entrepreneur’s
Growth Startup Handbook: 7 Secrets to Venture Funding and Successful
Growth, Wiley, Somerset, NJ, pp. 113-134.
Strauss, S. D. (2013). Chapter 9: New financing for a new era. Planet
Entrepreneur: The World Entrepreneurship Forum’s Guide to Business
Success Around the World. Wiley, Somerset, NJ
Mod-2
NOTE: Business is an Online website the sells Tee-shirts.
For this assignment you will be directing your attention to the legal
aspects of your proposed new business. Carefully review the Background
materials on legal risks and ownership structure options. Then write a
3-page paper covering the following issues:
1. What kind of ownership structure do you think is best for your
business? Consider all the major options—sole proprietorship, limited
partnership, etc., and then justify and explain your choice.
2. What legal risks do you think your business might face?
3. What strategies will you use to address these potential risks? What kind of insurance might you need?
Reading:
Pinson, L., & Jinnett, J. (2006). Chapter 7: Choosing a legal
structure. Steps to Small Business Start-Up: Everything You Need to Know
to Turn Your Idea Into a Successful Business. Dearborn Trade, Chicago
[Ebrary]
Setting up legal structures for small businesses. (2005, Aug 24). Kelowna Capital News. Kelowna, BC [ProQuest]
Feld, B., & Cohen, D. (2010). Theme 6: Legal and structure. Do
More Faster: Techstars Lessons to Accelerate Your Startup. Hoboken, NJ,
pp. 243-272
DuBoff, L. (2004). Chapter 10: Patents and trade secrets. Law in
Plain English for Small Business. Sphinx Publishing, Naperville, IL
Mod-3
NOTE: Business is an Online website the sells Tee-shirts.
For this assignment consider your “end game” for your business.
Remember, it will be easier to get financing for your business if you
can convince your investors that there is a pot of gold somewhere in the
near future. Do you think you can take your business public someday? Is
there a large competitor who might be interested in buying your
business someday? These are all issues to consider.
Carefully review the background materials on the various exit
strategies, then write a 2- to 3-page paper addressing the following
issues:
1. How long do you plan on owning and operating your business before your exit strategy?
2. What will your exit strategy be? Consider all the main options
mentioned in the background materials, and explain and justify your
choice.
Reading:
Nemethy, L. (2011). Chapter 3: Exit options. Business Exit Planning:
Options, Value Enhancement, and Transaction Management for Business
Owners, Wiley, Hoboken, NJ, USA
Seifert, R., Leleux, B., & Tucci, C. (2008) Chapter 5:
Harvesting, Nurturing Science-based Ventures: An International Case
Perspective, Springer, London, pp. 521-532
Hawkey, J. (2002). Chapter
4: What are the exit options for your business? Exit Strategy Planning:
Growing Your Business for Sale or Succession, Gower Publishing Limited,
Abingdon [Ebrary]
Hawkey, J. (2002). Chapter 5: How to choose the best exit strategy.
Exit Strategy Planning: Growing Your Business for Sale or Succession,
Gower Publishing Limited, Abingdon [Ebrary]
Assignment Expectations:
– Answer the assignment questions directly.
–
Stay focused on the precise assignment questions; don’t go off on
tangents or devote a lot of space to general background materials.
– List supporting references and cite sources in proper format.