Business Decisions

Business Decisions” Please respond to the following:

• Identify a type of business you would like to own. Next, evaluate two (2) advantages and two (2) disadvantages of buying an existing business compared to those of starting the new business from the ground up. State your decision and explain your rationale.

• In buying or starting the business above, you determine that you do not need external financing. Discuss why you should write a business plan, and select one (1) element in the plan that you think will be the most difficult for you. Next, identify three (3) techniques you can use to overcome the challenges. Justify your selection of these techniques.

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Bootstrap Marketing and Advertising” Please respond to the following:

• Using the Internet or Strayer databases, find three (3) examples of bootstrap marketing strategies. Next, develop a bootstrap marketing idea that will help promote a small business at a minimal expense. Be creative and thorough in developing the idea for this implementation.

• Assume you have an advertising budget of $1,500 to invest in a campaign promoting an upcoming “sale” or special event for your business. Your target customers are 25- to 45-year-old individuals with higher-than-average disposable income. Explain where you would invest your advertising budget and how you would generate free publicity to extend your advertising budget.

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