Personal Business Plan The entrepreneurial process is at its core concerned with
ID: 354303 • Letter: P
Question
Personal Business Plan The entrepreneurial process is at its core concerned with "the pursuit of opportunity without regard to the resources already under control." This process is as applicable to your career as it is to starting a company. The goal of this assignment is to identify where you want to be and how you will get there. Do not worry about your current resources. Think entrepreneurially! Your personal business plan should include a long-term vision statement, the "external" opportunities that exist, your "internal" (personal) strengths, and a strategy for yourself and your life over the next three to five years. In addition, please share at least one "failure" from your past and what you learned from it in terms of maximizing your potential for the future. The assignment should consist of 500-1000 words in bullet points or prose that summarizes as many of the areas below as possible, as well as the one "failure"
Explanation / Answer
The personal business plan is to create an online platform where the talented content writers can publish their content for free and promote their talent. The customers who like the content can approach the writers directly and give them a project or even purchase the content directly from the website.
A long-term vision statement would be the talent should not go unnoticed. The content writing is an art and the artists should get the required platform through our website. We need to build a strong relationship with the customers and writers in order to build a sustainable business in this industry. Our company would give more importance to the talent and the relationship more than the monetary part of the business. Our main goal is to be the market leader in the next 5 years in the content marketing industry and work with some major names in the industry to make a change in the lives of the content writers.
Th external opportunities available are the number of talented people who write on platforms like Quora, LinkedIn, and Facebook. We need to help these people in finding the right audience for the content they have created. The good content just receives few likes and positive comments but the same content can be used by a company and the writer can make money out of it. The growth of the internet is also huge and the companies want more and more creative writers taking part in their marketing activities. So the potential is huge and the industry will be thankful for the domain if it becomes a reality.
The internal strengths are the innovative business idea that has the potential to become big and capture a good market share. The concept is universal and the people from different parts of the world can become a part of the platform and showcase their talent. The technical team I have developed is very strong and it has the ability to innovate and develop an excellent product. Th experts who have experience in the field of entrepreneurship are guiding me on this project and this is a huge boost for the confidence level we had. The market survey shows that the people would happily be involved in this and willing to write to content for us.
The strategy for me would be to take all the opinions and the feedback I get but I should choose the right one. I should be deaf to all the negative remarks and continue to work towards achieving the goal. I need to keep all the people working with me motivated and keep their morale high all the time. I should not get involved in things that can distract me from concentrating on work for the next 5 years. I need to find good investors for the company and make it a global brand within the next 5 years.
The failure I had in the future is making my close friends a part of the business just because they are friends. This was a bad idea and I did not know how this can harm the business. We cannot be very strict when it comes to the dear ones and this will affect the business directly. The friends took it very casually and never worried about their responsibilities. So never involve the dear ones in the business but keep them close to you as they are the best critics.
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