A business idea may sound great in theory;
A business idea may sound great in theory; however, it may not be easy to implement or be successfully received by the market. Develop a three- to four-page paper, not including the title and reference pages, that includes a venture screening inventory and an evaluation of your business idea. First, design and list a venture screening inventory. Explain the key components of the inventory. Give examples of at least three questions that need to be asked and address prospective loopholes. Second, utilizing the inventory that you created, explore your business idea by explaining how it meets the minimum criteria of providing a value proposition to customers. Explain how your idea fits with your skill bank and lifestyle requirements. Assess whether it appears financially sound and compare potential rewards versus risks. Explain your mitigating strategy if it does not.
Your paper must include a cover page that includes the following:
- Student’s name
- Course name and number
- Title of paper
- Instructor’s name
- Date submitted
Use a minimum of two sources to support your key points. Your paper should be formatted in APA style.