Entrepreneurship Assignment - Business Idea

Running head: ENTREPRENEURSHIP
Entrepreneurship
Name of the student
Name of the University
Author note

ENTREPRENEURSHIP
1
Task 1
a)
Business Idea is are usually abstract and remain in the minds of different innovators
or entrepreneur pending while it is materialized in a successful manner. Opportunity related
to the business is the involvement of sales or lease of the product or services which will
enable purchaser or licensee for beginning the business. The seller and licenser promise in
buying back the products which are purchased by them in event (Yankson, Owusu &
Frimpong, 2016).
b)
It is highly impossible for the start-up businesses to earn profit in three months as
there are different kinds of prospects involved in making the business profitable. It has been
analyzed that there is time of around three to four years which is required for generating
profitability in conventional terms (Saura, Palos-Sánchez & Cerdá Suárez, 2017). To get the
business out of the ground, there are different ideas which comes up in justifying the fact of
poor performance of floundering business.
c)
 Publishing of articles in the magazines can make the customers attract towards the
work which is performed by them (Reeve, 2016)
 Reusing of the content is the other element which needs to be included by businesses
wherein repurposing it is the entire positive element and distributing the same as the
booklet.
 Writing e-book is the other element as books carry more value than most different
contents and establish their expertise (Petrunia et al., 2019).

ENTREPRENEURSHIP
2
 Hosting free events is effective for looking attractive and creating good story will be
helpful for improving their presence.
 Speaking at seminars is the last element which will be suitable for understanding the
growth suitably
d)
Analysis of Advantages
 Advertising along with publicity are the first elements which will prove to be
effective for generating high level of income (Mullakhmetov et al., 2016)
 It creates trust among customers wherein having commanding online presence can be
making consumers feel highly comfortable
 Building of brand is essential and vital wherein delivering of promises is the most
significant aspect
Analysis of Disadvantages
 Competition can be considered as demerit which will be lower the morale of
marketers in selling products (Line & Wang, 2017)
 Bad reviews of clients are the other aspect which will tarnish the reputation of the
company
 Copyright issues is the element that can be impacting the goodwill of the company
Task 2
a)
Component What will you include?
Opportunity Analysis