startyourbusiness Mrs. Mathews
Activity 5 - STARING YOUR OWN BUSINESS

You must follow the steps in creating your own business. Choose your company wisely. It has to be legitimate. Possible examples can be seen in the yellow pages of a telephone book. Check for ideas before deciding.

_____Name your business
_____Create logo (Place on letterhead, homepage etc.)
_____Flowchart of how your business will work and what it provides and who it will serve. (Use Inspiration) Clientele and services.
_____Write a mission statement for your company and place it with your flowchart. (Print)
_____Create mailing list of 20 people to send out information too. (Use database with fields that include: name, address, city,state, zip)
_____Create homepage cover that can be sent through an e-mail to advertise your company. (E-mail it to me over the Quia homepage for Emerging Tech)
_____Create form letter to potential clients and insert names into 5 of them. (print 5 letters with 5 different potential clients)
_____Obtain mailing list from 3 other students to merge with your database. (Print in landscape)
_____Create Spreadsheet of Projected Budget for 2001. (See attached budget sheet)
_____At least three times during this project you will be given a situation that may arise and effect your business. Be ready for surprises and make appropriate adjustments.

*********************************************************** *********************************************************** You have secured a loan for $200,000 at 7.5% interest. Figure your monthly loan payment. Create a spreadsheet with the following expenses. See attached sheet. Your spreadsheet must include totals, percentages and either a bar or circle graph of expenses and profits.

Monthly expenses will be:

Loan payment
Building rent or lease
Utilities (includes water)
Insurance for building
Insurance for employees
Office supplies ( paper, pens etc.)
Office equipment (computers, fax, telephone, copy machine)
Equipment to perform business specialty ( trucks, forklift, backhoe, monogramming machine)
Salaries for employees (you decide how many you can hire at first-and what you will pay them)
Stock or goods to sell in your business(shoes, tennis rackets etc.)
Miscellaneous (coffee machine, water cooler)
Advertisement
Profits
Losses

Some people like to think big first and then hope for the best. Think smart and small at first then see how things go. You may have banner days and your profits will increase quickly, or you may have some difficult days and have to readjust your budget to pay salaries and make monthly payments. It is a challenge to anyone starts a small business. Make yours work!!!.

*********************************************************** *********************************************************** You will have to evaluate the success or failure of your business at the end.

*********************************************************** *********************************************************** FORTUNE COOKIES

These are some of the situations that you need to be prepared for.

***You have had a great week your profits were $5,000
***You have had a stupendous week your profits were $10,000
***Business was slow you lost $3,000 in sales
***You had to hire a new person, because the demand for your product has increased.
***You had to fire a person, because the profits were low this week
***A larger business wants to take you over and pay you $300,000 for your business. (Obviously you are doing very well)
***You had to buy another $700 computer program to run you business
***You are in the red you need to borrow more money to stay in business

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Last updated  2008/09/28 04:00:04 PDTHits  170