New Business Venture
Present a reflective paper on the feasibility of an original business idea and business model by using a screening inventory. 5-7 peer reviewed resources are to be used. Note: this is not a business plan. The paper should include a screening inventory with supporting rationale on the following elements:
- Original business idea (specific idea to meet unmet need)
- Description of service or product (overview)
- Value Proposition (how will need be met)
- Business Model (what criteria supports the model selected)
- Market Size and Growth (large enough market potential for venture to be profitable; potential for growth)
- Competitive Advantages (what will make the venture stand out among competitors within industry)
- Management (skills of entrepreneur and team to develop venture)
- Revenue/ Growth Projections (how long will it take to be financially viable)
- Financing Requirements (financing requirements to begin operations)
- Summary (identification of specific supporting information that will enable the potential of the business idea to develop into a viable venture and overcome any risks)
* Business venture is a fitness center that uses medical professionals to assist (MDs, nutritionists, personal trainers, physical therapists)
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