Starting+a+Business

=**Preparing to Operate a Business **= =** Your Task  is to determine a product that would be popular with your peers in this classroom setting. **=


 * 1) **Start by brainstorming ideas, a good rule of thumb is 3 to 5 ideas.**
 * 2) **The narrow your list down to one product or service and complete the following.**
 * 3) Name your business!
 * 4) Design a logo and create a "tag line"
 * 5) Create a prototype, or some sort of illustration showing what your product would look like or what you will be doing.The more details the better!

**2.** **Decide on a price and the amount of product you will produce. Remember this is hypothetical situation with only the folks in our classroom.**


 * Research the actual cost of materials and supplies needed to start this business.
 * Complete this using a spreadsheet!
 * //Consider making less, as it is better to run out, than have too much.//

**3.** **After Survey and Price determination create a demand curve.**
 * Survey your market (classmates) to determine the supply and demand.
 * //The key to a market survey is having willing and able participants.//
 * Create a Demand Curve – Showing the number of purchasers compared to the product price.

**4. Being prepared financially:**
 * Complete a projected cash flow - this will get you started make it yours by renaming it to cashflow_yourbusinessname: [[file:cashflow_sample.xls]]

**5.** **Apply for a loan submitting the proper documents.**
 * 1) Summary of market survey
 * 2) Demand Curve
 * 3) Projected Budget (actual cost, projected sales and purchases).
 * 4) Completed loan request form [|business+Bank of Mrs.docx]
 * 5) Cash Flow

**6.** **Are you ready to try it out?**