|Type of paper:||Essay|
|Categories:||Business plan Business strategy Career development|
Step 1: The problem
What investment project to start after completion of schooling? I need to start an income-generating project for self-sustenance as I seek a good employment opportunity.
Step 2: Generate alternatives
2a) important and relevant factors to consider
- Business idea
- Passion and academic qualifications
- Investment capital
- Risks vs. Rewards
- Location for the start-up
- Market competition
- Legal documentation
- Target market
2b) List your options
- Grocery store business
- Food business
- Fast food eateries
- Online trading
Step 3: Gather information
- Experiencing the market
I will survey the market to identify which of my options is more viable. I will also try to find some people who are openly involved in these businesses to gather first-hand information from them pertaining to the market performance, the benefits, challenges, and how to start.
Even though I might not take their advice, their input will be crucial in helping me navigate and chose the most viable option (Management books n.p). By surveying the market, I will also be able to observe the gaps and trends within my options in choosing the best alternative.
- Analyzing the market
Having identified the gaps and trends in the market, I will be able to analyze the situation and start working towards a solution. My market analysis will be based on the business idea with average start-up capital requirements, low risks, less competition, and with little legal documentation (Management books n.p). Moreover, my analysis will focus on a business that targets the general population.
Step 4: Deciding
After conducting an analysis, I would decide to invest in a grocery business. The venture will only need little capital, which includes obtaining the stock, a store, and a licensing fee. Fresh food is always on demand, and this venture will target all populations. Even though there might be competition, I will focus on selling the freshest farm produce to attract customers and survive the competition. Food grocery is also viable since it does not require any form of training.
Step 5: Action & Assess. Metrics to assess the success of the chosen decision
- Customer traffic
- Customer conversion rate
- Gross and net profit
- Stock turn
Specific steps to adjust my plan if the metrics are not met
In a situation, my plan does not meet the metrics; the best approach would be to adjust my business model and embrace technology, e.g., social media for marketing and home delivery services (Rao n.p).
Management books. "The Recognition-Primed Decision Model." Free Management Books, 13 Dec. 2016, www.free-management-ebooks.com/news/recognition-primed-decision-model/.
Rao, Dileep. "The Art Of The Pivot: 5 Strategies For Adjusting Your Business Plan." Forbes, 3 Oct. 2016, forbes.com/sites/dileeprao/2016/10/03/five-adjustments-to-make-a-bad-business-plan-good-and-a-good-plan-great/#554d57e77400.
Cite this page
Investment Project to Start After Completion of Schooling. Free Essay. (2023, Aug 22). Retrieved from https://speedypaper.com/essays/investment-project-to-start-after-completion-of-schooling
If you are the original author of this essay and no longer wish to have it published on the SpeedyPaper website, please click below to request its removal:
- Essay Sample on NextGen Program
- Professional Goals Essay Examples
- Human Resource Management Essay Sample: Questions and Answers
- Paper Example on Brand Management for Nations
- Essay Sample on Quality and Strategic Process Improvement
- Paper Example on Critical Analysis of Nike
- Strategic Ways John Coulombe Changed One Convenience Stores to Survive the Competition - Essay Example