* Present the steps involved in conducting a feasibility analysis.
* Identify the components of the business model canvas and explain how to use them to develop a viable business model.
* Explain the benefits of an effective business plan.
* Describe the elements of a solid business plan.
[order_button_a]
* Explain the three tests every business plan must pass.
* Explain the “five Cs of credit” and why they are important to potential lenders and investors reading business plans.
* Understand the keys to making an effective business plan presentation.
* Understand the advantages and disadvantages of buying an existing business.
* Explain the four steps involved in the right way to buy a business.
* Describe the five steps of the deal stage for buying a business the right way.
* Understand the transition stage for buying a business the right way.
5.2 Action Required:
* Watch the short video at the following link:
5.3 Test your Knowledge (Question):
* Why does the entrepreneur need to develop a business plan?
5.4 Instructions
[order_button_b]
* Answer the question available in the “Test your Knowledge” section.
* Post your answer in the discussion board using the discussion link below
(Week 5: Interactive Learning Discussion)
Week6
6.1 Learning Outcomes:
* Describe the components of a bootstrap marketing plan and explain the benefits of preparing one.
* Explain how small businesses can pinpoint their target markets.
* Explain how to determine customer needs through market research.
* Outline the steps in the market research process.
* Describe the bootstrap marketing strategies on which a small business can build a competitive edge in the marketplace.
* Discuss the “four Ps” of marketing—product, place, price, and promotion—and their role in building a successful marketing strategy.
6.2 Action Required:
* Watch the short video at the following link:
6.3 Test your Knowledge (Question):
* How is the target market important to the small business?
6.4 Instructions
* Answer the question available in the “Test your Knowledge” section.
* Post your answer in the discussion board using the discussion link below
(Week 6: Interactive Learning Discussion)
312
Week 6: Interactive activity
6.1 Learning Outcomes:
* Overcome obstacles to critical thinking
* Avoid deductive reasoning fallacies
* Avoid inductive reasoning fallacies
* Become a critical thinker
6.2 Action Required:
Watch the short video in the following link:
Introduction to Inductive and Deductive Reasoning:
6.3 Test your Knowledge (Question):
[order_button_c]
Discuss the difference between Deductive and Inductive reasoning with example.
6.4 Instructions
* Answer the question in test your knowledge section.
* Post your answer in the discussion board using the discussion link below (Week6:Interactive learning Discussion