Business Opening - 811 Words

Opening up a business may be one of the hardest things one can do. There is a great amount of effort that goes into creating a business and even greater effort to make it successful. Before opening a business, owners are obligated to keep fresh, open ideas, have good management, and being able to financially sustain their business. Even this may not be enough to create a striving, successful business. There are many factors that go into whether a business is successful or a failure. One of the main reasons why small businesses fail is because of the owners/entrepreneurs themselves. This mainly goes for poor management skills that bring businesses to their demise. Owners who are stubborn, greedy, and self-righteous often don’t do what’s†¦show more content†¦Also, all successful businesses must know how to give the people what they need. Social networking is a great way of finding out what consumers need and what they are mostly looking for. It is also a great way to advertise products/services that they are offering and persuading the people to buy from them. Blockbuster has come a long way since its beginning in 1985. They were once the leading competitor in the movie distribution business, but came to a downfall due to some mistakes. In theory, Blockbuster was bound to fail due to technological advances that would hurt them. Blockbuster was not able to adapt to these changes, and continued to invest more money into this declining business. According to the article â€Å"Blockbuster Bankruptcy: How bad business Led to Demise†, the company filed for bankruptcy just weeks before its 25th birthday. Instead of getting out while they could’ve, their managers decided to waste more money on schemes to attempt to keep the business alive. Netflix is one of the most popular movie franchises in the world, if not the most. Something as simple as renting movies has been able to become a multi-billion dollar business in a matter of years. It may seem like it all happened overnight, but in reality it took Netflix years to become as successful as it is today. According to the â€Å"Secrets of my success: Netflix† article, the genesis of the Netflix idea came in 1997. It started off as a movie-rental business in the mail and quicklyShow MoreRelatedOpening a Business in Singapore462 Words   |  2 PagesThe law allows any person above the age of 18 to register a company in Singapore. Types of company formations Before you can dream of registering your company you must know the different types of Singapore company formations and know the requirements needed for each and every type of formation. There are several types of company formations including sole proprietorships, partnerships, public companies and limited companies. Different types of companies have different sets of laws governing theirRead MoreEntrepreneurship Is The Process Of Opening A New Business741 Words   |  3 PagesEntrepreneurship is the process of opening a new business; typically the company offers an innovative product, process or service. As per Carton et al, entrepreneurship is all about the identification of an opportunity, creation of new organization, and pursuing new ventures. There are many various studies based on entrepreneurship (directly as well as indirectly) like building and promoting a business, applying creativity to make an existing business more productive, external skills required inRead MoreEssay O n Opening A Business1548 Words   |  7 PagesConstruct force. Longing for propelling a business will just get you up until this point. You need to follow up on your vision eventually. Make sense of something that will constrain you into movement, says Holdford. That could be going to systems administration occasions or, in case youre unemployed, taking a between time work that will get you once more into the routine of working. Never let the law of inactivity grab hold. On the off chance that you sit home sufficiently long, that latencyRead MoreBusiness Writing Portfolio1103 Words   |  5 PagesBusiness Writing Portfolio Jordan Pappas COM/285 February 27th, 2011 Randi Plante Business Writing Portfolio Part I: Business Writing Steps. Audience: Store Manager Store Employees Customers and the public Message Format: Business Letter- Store Manager Business Memo- Store Employees Email Message- Customers and Public Part II: Portfolio Letter: 1456 Duke St. Alexandria, VA 22314 February 27, 2011 Dear Store Manager, Due to rising gas prices store policy on employeeRead MoreThe Room - Original Writing884 Words   |  4 Pagesfront of an empty room. I figured there must have been a reason for it being there so I walked inside and started to search around. As I was searching I heard a faint voice. It sounded like a young woman. Get out of this place you fool. You have no business here. The voice loudly whispered (Oxymoron). whoa, who was that? Mom, is that you? I stuttered. I spun my head both ways over and over again. Fine, if you want to stay here I guess I will let you. The voice said greedily. Huh? This reallyRead MoreSkadurz Pro1376 Words   |  6 Pagespossible disadvantage of keeping the New Sudbury location would mean that sales may decrease due to the competition of a large retail chain opening across the street from Skadurz Pro. In the end I think the benefits outweigh the possible disadvantage to the company and I think Skadurz Pro should remain at the new Sudbury location where the c ompetition West 49 is opening and close the South End location. By doing so St. Marseille would not need to hire a new manager and would not have the operating expensesRead MoreEffects Of Opening The Catering Business992 Words   |  4 Pages Introduction In order to understand the effects of opening the catering business, I looked at variable and absorption costing to figure out which method would be better suited for internal and external reporting in the past and future. In addition, I delved deeper to understand the cost breakdown of the new products which helped identify a capital budget that will help us determine the validity of opening the catering business. Inventory Effect on Net Income For November, there was anRead MoreSwot Analysis : Opening A Business1144 Words   |  5 PagesOpening a Business is no easy task and deciding to open one will present many challenges. Some of the things to figure our before you can get proper investors would be a business plan and probably a Strengths Weaknesses opportunities and threats analysis, Long for the SWOT analysis. Investors will most likely not entertain your business unless you have a drawn out plan on how things will operate and how revenue will be made after your analysis research. Knowing how to make and how to read an analysisRead MoreEffects Of Opening The Catering Business991 Words   |  4 PagesFindings In order to understand the effects of opening the catering business, I looked at variable and absorption costing to figure out which method would be better suited for internal and external reporting in the past and future. In addition, I delved deeper to understand the cost breakdown of the new products which helped form a capital budget that will help us determine the validity of opening the catering business. Inventory Effect on Net Income For November, there was an ending inventoryRead MoreEssay On Opening A Business In New Zealand1177 Words   |  5 PagesAre you interested in opening a business in New Zealand? Great, New Zealand is an opportune place for both investors and entrepreneurs alike! According to the 2016 World Bank Doing Business survey, New Zealand is both the, â€Å"The easiest place in the world to start a business†, and, â€Å"The easiest country in the world to do business in.† When considering taking your business global, there are many factors to take into consideration and New Zealand tops the list in all of them. New Zealand recently