Required Resources

Read/review the following resources for this activity:

• Textbook: Chapter 5
• Lesson
• Minimum of 1 scholarly source

Initial Post Instructions

Consider a small business you want to create. In your post, address the following:

• What type of business would you create?
• Conduct some research on companies offering a similar product. What distinguishes you from your competitors?
• Name 2-3 risks you need to consider in your new venture? Consider the risk factors similar companies may have encountered.
• How could you leverage e-commerce and social media to make your business profitable?

Follow-Up Post Instructions

Respond to at least one peer. Further the dialogue by providing more information and clarification.

Writing Requirements

• Minimum of 2 posts (1 initial & 1 follow-up)
• APA format for in-text citations and list of references

SOLUTION

I would consider setting up a nursing home as my preferable small business. I would embrace entrepreneurial personality in order to thrive, and this includes understanding some of the challenges of setting up and running a business successfully. The capability to solve emerging problems promptly and being decisive could go a long way in helping me become a successful entrepreneur (Gitman, & McDaniel, 2018).

One of the key features of successful entrepreneurship is identifying an opportunity where there is a prevailing need (Kuratko, 2011).

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