Focus Patents, trademarks, copyrights, and trade secrets. Legal structures or a business. Understanding consumer behavior.
• Chapter 9 (Legal Challenges for Entrepreneurial Ventures)
• Chapter 10 (Marketing Challenges for Entrepreneurial Ventures)
Textbooks Required • Donald F. Kuratko. (2017). Entrepreneurship: Theory, Process, and Practice (10th Ed.). Ohio: Cengage Learning.
Please Cite your Sources.
Review and narrow your list of business ideas to the one you will use for your pitch in Week 8. Utilizing the discussion on sales forecasting in chapter 10, prepare a 6month from opening sales forecast for your business. Now extend that to 1 year, 5 years, and 10 years. What variables will affect your sales? To what degree? How can you attempt to offset or capitalize on these factors?
This is the idea I’m pitching for week 8:
Hair Industry (wigs)- With the hair industry being such a high-dollar industry, I would create a new way of hair for those that suffer from hair loss, alopecia, etc. Meaning there are several people that deal with different types of hair loss, instead of medicine to make their hair grow, I would create a web-based system that would read the scalp to determine and create the perfect wig type that suits that individual.
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