Part one of term paper
Most people dream of one day owning a large corporation of their own and making a bundle of money from it, but there are certain steps that must be taken in the successful completion of owning a business. When one decides that he or she would like to start their own business, one must ask themselves three basic economic questions; one, what t ...

Part two of term paper
... has successfully answered the three basic economic questions, one must formulate a business plan. There are several steps to a business plan, each just as important and should not be overlooked in the process of starting a new business. First and foremost, one must ask, who are the potential customers? One must ask this question because if the product that is going to be sold is used by only a small percentage of people, it may not be worth the risk of lost revenue. As opposed to deciding whom the ...