What appeals to me about entrepreneurship?

Before taking this course, I was intimidated by the word entrepreneurship; I wasn’t comfortable with using the word, not completely understanding what it meant. I understand it a bit more, and that anyone can be a entrepreneurship. It all starts with an idea; it’s the creation of a new venture. There is a lot of work involved with entrepreneurship, its not easy to take an idea and turn it into a potential commodity and not everything has to be a commodity. What I find appealing about entrepreneurship is that anyone can be one. There is no age limit, and it can be simple, although its challenging, I like challenges. It is risky. What appeals to me, it that being an entrepreneur can be individual, enterprise, a business big or small. As an entrepreneur, and starting a new venture, you should be aware of business plans, how to create one and follow through with your plans.

Sharing information about a business plan.

I took my presentation on making a business plan and read it to someone; my goal was to explain to the individual what is a business plan and how to create one. I used the power point presentation to share what I knew about making a business plan. After I finished reading the power point, I asked what the individual thought of my presentation and to share feedback. The individual stated that they did not know much about administration or starting a business. After listening to my presentation the individual said that they could use the information that I presented as a guide to making a business plan. They stated that there was a lot of information and now this individual knows more on what’s needed to making a business plan. They stated that they are more aware of the contents of starting a business. They said that they were not aware that a business plan had to be 10 to 12 pages long and that it required so much specific information. Although a lot of information was presented but very informative.

Business Plans, what have I learned.

I have learned a lot in regards to a business plan. I had made the presentation on how to make a business plan. I have learned that a business plan is pretty straight forward. A business plan is important to have when wanting to start a business, it shows organization, professionalism, and, the willingness to start a business. A plan should not be more than 12 pages long. The most imporant and vital piece of information in a business plan is the executive summary of your plan. This piece includes the most imporant information that is needed for your plan. Most time when you present your plan to lenders and investors, this is most likely the only section that they read and use in refernce to making a decision for your business plan. I have learned that there are different types of formats of a business plan but basically the content of the business plan is the same. A good market plan could be used as arumentive piece to demonstrated that your business is a need and demand in your community. Financial informations is alos needed so that your lenders and investors have a sense of what is needed for business. I could go on and on what I’ve learned about bisness plan since I’ve was part of a group and researched and presented on how to create a business plan. I hope that the presentation was helpful and striaghtfoward for my fellow classmates.

"Fulled again: U.S. gas prices 30% below those in Canada” from the Current Business Feed

I have read the article “Fuelled again: U.S. gas prices 30% below those in Canada” it was interesting to read the arugments why US gas prices are less than the gas prices in Canada. The factors stated in the article stating why the price of gas is higher in Canada is as stated, the wholesale of gas in the states is cheaper. In the article it states that the tax on gas in Canada compared to the US is couple times higher, the exchange rate was another factor. Another factor is the US population is about 10 times higher than the population of Canada. Also, Canada does not make enough gasoline sales to lower the prices of gasoline. Understanding the gas price in US and in Canada are significantly different due to population, I think. US has 10 more population that Canada, that is what I think the biggest difference between countries. If Canada had the same amount of people as the United States, then Canada could afford to lower its taxes and could compete with United States with their gas prices. The market demand is perhaps not as high in Canada as it is in United states, due to the population difference. United States is our neibouring Country, I do not understand why there hasn't been an agreement on gas prices between the Countries. Perhaps with the new president, the gas price issue will be brought up. I think that being so close, and Canada makes gas and sells it out of country, you would think that the gas price would be lower than the US. Its something to think about.

First Nations Women in Business

I had the opportunity to interview an successful businesswomen. I interviewed a woman who is an owner of a Curves. I had asked her what were her barriers being a First Nation businesswomen owner. She stated that she does not have any barriers. She said that there are some challenges working in all women’s environment but they were not barriers. She stated that if she did have any barriers she would approach them and deal with them right away. I went on to ask her how she felt about being a First Nations woman, owning a business off reserve, if she seen that as a barrier. She went on to explain that she did not grow up on a reserve therefore, she doesn’t know the any different about how a business would function on a reserve. I had suggest that she consider opening a curves in our First Nation community, she said its something to consider but also said there could be some barriers in regards to the market demand, and if the services would be used in the community.