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#1 BUSINESS PLAN, BUSINESS REALITY

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Beautiful Woman Store
The Business Model:
What Is the Concept for My Business?

Deciding to go into business for yourself is a single decision. But how you’re going to get into business involves lots of interrelated decisions that need to be made in a logical order. For this, you need a business plan. This first chapter covers the first section of the business plan.
This is where the entrepreneur explains the overall concept for the new business. The chapter will answer the following questions: ■ What Does It Mean to Be “in Business”? ■ What Is My Business Idea? ■ Do I Need a Partner? ■ What Will My Business Mean Legally? ■ How Do I Get Started ?

Learning Objectives On completion of this chapter, you should be able to: 1 Discuss the definition and role of “small business.” 2 Assess your own potential as an entrepreneur. 3 Identify at least four advantages and/or disadvantages of an entrepreneurial lifestyle. 4 Define a new business in terms of what i…