Share
Explore BrainMass

New Businesses and Entrepreneur Personality

1. Business Requirements: New businesses require several things to be successful. List out at least five and expand as to their importance, how they can be accomplished, whether or not they are able to be completed by the entrepreneur or an outside agency should be contracted, etc.
2. Entrepreneur Personality: Identify the type of personality required to be a successful entrepreneur. If someone doesn't fit that personality profile can they still be successful?

Solution Preview

1. Business Requirements: New businesses require several things to be successful. List out at least five and expand as to their importance, how they can be accomplished, whether or not they are able to be completed by the entrepreneur or an outside agency should be contracted, etc.

(1) Customer reach
Organizations must determine the best method for reaching out to consumers. Although organizations target a specific marketing segment for maximized profits, the true element to an organization's success is to reach future prospects through various communication channels. In today's society we witness how organizations have become reliant upon technology to achieve this goal. It is no longer a sufficient business practice to just have a "good" product. The goal of an organization is to get their product in front of a mass audience. YouTube, for example is a great way to advertise your business and is utilized by most marketers, organizations (large or small), and individual entrepreneurs. YouTube allows people or organization to advertise to the world. Youtube or Google based services for advertising are some of the most effective ways to reach your chosen demographic. Entrepreneurs may succumb to certain limitations when trying to reach the right customers. Social networking websites enable entrepreneurs and small businesses to share their brand message with the public. It is my belief that an entrepreneur has the necessary tools to be successful. If they are technologically savvy, they may not need to hire an outside contractor unless they have no other alternative.

(2) Good reputation
After you've reached your desired consumer demographic, it is imperative that an organization or entrepreneur has a good reputation. A good reputation can be achieved through reliability, integrity, fair and honest business practices, and effective communication with stakeholders. Amazon, for example, allows ...

$2.19