Being aware of what contributes toward business achievement is essential for the new business owner. Learning from the mistakes or the mistakes of others is essential to a successful business.

Make sure you review the next case study and answer both the questions stated in this article:


Eric is a young man with a perspective. He sees himself because heading up a large firm someday, a firm that he has started and helped to grow. He has fundamentally supported himself since he was fifteen, and has, at the age of 20, currently started and sold two successful small businesses.

At this time Eric attends college full time because he seems that obtaining an education will probably be beneficial to him in the long run. He can supporting him self partially together with the money he received from the sale of his last business. He expects to start yet another business as soon as he graduates.

Eric's most recent business was at a fairly competitive market in the area by which he lives. He says that even though he received some confidence from a few friends the majority of them said he was crazy to work as hard as he was working. Joshua says he just believed that this individual " had to do things my own way" and built his business to be the second major of its type in the location.

Answer the two of these questions within an essay format in by least 250-500 words:

1 ) Eric has beaten chances already. So what do you think Richard would inform you of success (or failure) and how to learn to be considered a successful small company owner? 2 . At this point, fast forward a few years. Eric has graduated from school, and it is ready to begin his new company. He has never completed an enterprise plan and know what crucial components ought to be included in a business plan. Describe for Joshua the purpose for each of the next components of a company plan:

Cover Letter

Executive Brief summary

Organization Background

Management Group

Economical Plan

Capital Essential

Promoting Plan

Location Research

Production Plan



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