Develop an action plan

How would  you handle companies that are cutting corners not for selfish reasons, but so that they can have incomes and provide for their families?

What people research business in your area and identify sole proprietorships, partnerships, corporations, and franchises? Arrange interviews with managers using each form of ownership and get their impressions, hints, and warnings. ( If you are able to work with a team of fellow students, divide the interviews among team members.) How much does it cost to start? How many hours do they work? What are the specific benefits? Share the results with your class. Have you thought about starting your own business?

What opportunities seem attractive? Choose someone in the class whom you might want for a partner or partners in the business. List all the financial resources and personal skills you will need to launch the business. Then make separate lists of the personal skills and the financial resources that you and your partne(s) might bring to your new venture. How much capital and what personal skills will be needed beyond those you already have? Develop an action plan for needed capital.

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