Some entrepreneurs will identify a problem a community has and then attempt to solve the problem that they, themselves, believe is important. However, the community being served may not view the entrepreneur’s perceived problem to be an issue and may not support a proposed solution. It is critical that the entrepreneur engages people within a community and addresses problems the community identifies as important. This is a two-part assignment.
Part II (100 points):
Once you develop solutions for the problems faced in Part I, you will select one of the solutions you have identified that have a for-profit potential and expand upon that business idea in Part II. Conduct research online to better understand the scope of the opportunity, your target consumers, industry attractiveness and the competitive environment.
SAMPLE SUBMISSION Download SAMPLE SUBMISSION
Submission Guidelines:
MY COMMUNITY IS EAST ST LOUIS, IL
(1) Provide a description of the opportunity selected and the target consumer or user.
(2) Explain why you believe the opportunity exists or this problem needs to be solved.
(3). Describe the: Industry – performance, size, current events
(4) Describe the target market – consumer demographics, buying and spending patterns
(5) Describe the competitive environment – other companies doing similar businesses, estimated revenues and expenses of similar business
Submissions are expected to be a 1 1/2 – 2 page typed document (.doc or pdf files only, double spaced 11-point font 1-inch margins, no white space at top or bottoms of pages, single space the header with your name and course title). No bullet points. Do not double space the header with your name. Please cite your supportive references with citations.
Internet Resources:
1. Census.GOV https://www.census.gov/data/tables/2017/econ/susb/2017-susb-annual.htmlLinks to an external site.Links to an external site.Links to an external site.2. SBA.GOVLinks to an external site. https://www.sba.gov/business-guide/plan-your-business/market-research-competitive-analysis#section-header-5Links to an external site. 3. BPlans https://www.bplans.com/sample-business-plans/
RUBRIC
40% Description of the Identified Opportunity
20% Description of the Target Market
20% Description of Industry and Competitive Environment
20% Guidelines (met minimum of 1 1/2 pages without large font, bullets or extra spacing)
