Creating Our Own Businesses

During the Fall Term, the goal was to create and develop a business idea that we wanted to start someday.  It took me awhile to come up with the business idea that I wanted, but eventually I found it.  This term has taught me that starting a business isn't just about the fun stuff, coming up with the name and logo of the company, but it takes a lot of research to effectively plan out the business.  I learned a lot about what the main goals of a business should be.  

The main goals of a business:

1. Everything should be based on satisfying the customers needs

2. Make sure I have profitable sales (profitable sales > maximum sales)

3. Have a competitive advantage against others in the same area of business (this is what you market off of, market my advantage)

4. Have a specific target market (specific people, wealth, location, etc)

5. Marketing mix (appeals to the different types of targets)