Case Study: The Road To Entrepreneurship

1537 Words 6 Pages
The road to entrepreneurship can seem overwhelming to those without a business degree. In fact, it has been determined that the possession of a college degree does not guarantee success in the business world. Although a degree can be beneficial, the amount of successful business owners that never went to college proves that degrees are only complementary, not a perquisite for success. In truth, every entrepreneur must go through an initiation, or a rite of passage to go from wanting a business to having a business. If an entrepreneur is going to have a successful venture, starting the new business will require following a particular process from creation of vision statement, developing a product, marketing, financial analysis, and reevaluating the mission statements.
The first step that an entrepreneur must take is the creation of an idea. In order to have a business, it will be
…show more content…
The SWOT should state the company’s strength, weakness, opportunities, and threat that could impact the business’ ability to make a profit (Bethel University, 2011). A thorough analysis can be identified by using the quarterly or the annual report to determine the financial health of the company. Once the financial health is identified, the SWOT will help answer in which direction the company is heading and establish the available means to get there (Bethel University, 2011). When SWOT analyses are executed properly, they will have an impact on future strategies. Besides reviewing the financial report, a SWOT can also identify analytics can be used to make more clients happy. A SWOT strategy should be circular like the mission and vision statements. Each specific strategy should feed into the next category. In the end, an effective strategy will not be visible as individual parts; rather, the sum of all the parts combined is what will allow the company to continue to

Related Documents