Week 4

THIS IS MY BUSINESS After coming up with a business plan the structure of my business would fall under a sole proprietorship. If I was to go into a general partnership it would have to be someone like my wife. Someone within the same household with me that way most of the profit can stay within my home opposed to sharing it with someone else. I believe that’s a good time to be selfish. I would sell clothes with my brand and logo on it. My products would include shirts, socks, pants, hoodies, as well as socks. I would also offer a service that would help other entrepreneurs to start their own brand when in need of product and charge for product as well as charging them to put their logos and wording on their clothes. Some values that my business would go by is first loyalty, my clientele information is safe with me and we would be loyal to our customers. Another one would be with trust, not only can they trust that their credit card numbers and things in that nature would be secure but they can trust us with giving them advice in taking the next steps to helping their brand grow. Last but certainly not least is accountability, no matter how hard times may get we will hold up our end of the agreement and will fulfill it. Our mission statement is, “Don’t only dream about the life you want to live, put energy behind the dream, it downgrades unto a goal, before you know it its a reality.” Our short term goals starting off obviously would be to make a profit within our business would be to make a good profit, we would also like to keep up with current trends, improve our production and know who our competitors are. Some long term goals would be to not only keep up with current trends but start to set trends, and having iconic moguls wear our product and shout us out. Another long term goal would be to give back to our customers and upcoming entrepreneurs and promote them.

Who is your competition and how will you differentiate your business to gain a competitive edge?


By FRIDAY, complete the following:
Post to the class discussion forum your first impression answers to the Competition Analysis elements. For instance, the analysis requires you to describe five businesses with which your product would compete. This may require research to provide enough information. Complete all the elements for the Competition Analysis in the same way.
Create a SWOT Analysis using the PowerPoint template in the class content.

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