Question

Palayi api NEW BUSINESS VENTURE ASSIGNMENT #1 Trends and Business Ideas NOTE: Denor modify this form! Write your name and type your answers below each question, save the form WITH the questions, then upload the entire form to Canvas. Directions Answer the following three questions and upload the completed form to Canvas. Be sure to save this completed form to your computer for later use. Your name: 1) What are three trends that you can see taking place in the world that will affect business? These can be social trends, trends in technology, trends in education, trends in a particular roarket (eg, food), etc. For example, one trend is that the USA is becoming more multi-cultural. Write 1-3 sentences for each trend Trend #1: Trend #2: Trend #3: 2) What are your Strengths and Resources when it comes to starting and managing a business? (list at least 3), Think about yourself and your personal situation. Think about what you know, who you know, what you are good at, what you have to offer, and tell us: My Strengths (Skills/Knowledge/Personality Attributes/Attitude/Work Ethic). Write 1-3 sentences for each strength Strength #1: Strength 12: Strength 3:

Answer 1

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1) What are three trends that you can see taking place in the world that will affect business? These can be social trends, trends in technology, trends in education, trends in a particular market (e.g., food), etc. For example, one trend is that the USA is becoming more multi-cultural. Write 1-3 sentences for each trend.

Trend #1: The first trend that I have observed taking place in the world that will and is affecting business to this day is rapid innovation. Technology is moving rapidly, thus leading to more entrepreneurial opportunities. For example, Tesla was the first company to market their electric vehicles very well, leading to more sales and revenue opportunities. A few years later, Tesla has five to six different vehicles and every time they release information about a new vehicle, it goes viral. Innovation will always make business stronger.

Trend #2: The second trend that I have observed taking place in the world that will and is affecting business to this day is the United States is shifting more towards isolationism. The past administrations prior to the Trump administration have believed in globalism. The Trump administration has implemented many tariffs and discussions about altering existing international agreements.

Trend #3: The third trend that I have observed taking place in the world that will and is affecting business to this day is small markets growing rapidly. Some examples of these small markets that are growing rapidly would be Vietnam, Egypt, Turkey, and South Africa. These countries make have a lower labor cost so many bigger companies from around the world will build factories in these countries, thus helping the economic stability in the country.

2) What are your Strengths and Resources when it comes to starting and managing a business? (list at least 3). Think about yourself and your personal situation. Think about what you know, who you know, what you are good at, what you have to offer, and tell us:

My Strengths (Skills/Knowledge/Personality Attributes/Attitude/Work Ethic). Write 1-3 sentences for each strength.

Strength #1: My first strength and resource when it comes to starting and managing a business is that I am a very good talker. I get along with almost everyone I talk to and I can continue a conversation for as long as I need too. I currently work at a golf course making $5.25 (minimum wage with tips), so all my money comes from talking and earning tips from the golfers.

Strength #2: My second strength and resource when it comes to starting and managing a business is that I am also very organized. I grew up in a house that never has any dust laying on a table or specs of dirt on the ground. My family is very organized, and they do have OCD, which has helped me become more organized to keep up with their expectations.

Strength #3: My third strength and resource when it comes to starting and managing a business is that I am very punctual. If my company opens at 8 a.m., I will be there at 6 a.m. I love working, I’d rather do that then school, then combine work with a hobby that I love, I could never be late for that.

2) Strengths and Resources (continued)

My Resources (Connections/Degrees/Money/Property/Qualifications/Permits, etc). Write 1-3 sentences for each resource.

Resource #1: My first resource would be that I am ASE (Automotive Service Excellence) certified in both mechanics and auto body. It is very important to have your certifications while working in the automotive industry or you could potentially be fined/terminated. OSHA requires that all people working in an automotive shop to be ASE certified.

Resource #2: My second resource would be that I am working towards a bachelor’s degree. Although this degree is not required in the automotive field, it will set me apart from other candidates.

Resource #3: My third resource would be that I know a lot of people in the automotive field. For example, I just did a photoshoot with the owner of Palm Beach dyno with his new 2020 mustang gt500. Not many people get to see the gt500, let alone get the opportunity to spend three hours taking pictures which will go viral throughout the automotive scene.

3) Describe three (3) business or new business ideas that you think make sense for you to be involved in. They should go with what the needs are in the marketplace, and also be a business where you would be able to add value. Explain each one clearly and with enough detail to be helpful.   NOTE: Write 3-5 sentences for each idea (please keep your descriptions to 3-5 sentences!)

Idea #1: The first business idea that would make sense for me to be involved in would be an automotive club while I am in college. While in college, it is important to study, but you also have to network. FAU didn’t have an automotive club, so I made one.

Idea #2: The second business idea that would make sense for me to be involved in would be to own an automotive performance shop. Working on cars has been a hobby for me since I can remember, everything I do is involved with cars. Also, the people closest to me and everyone who knows me is involved with cars, so it would only make sense for me to open my own automotive shop.

Idea #3: The third business idea that would make sense for me to be involved in would be to start my own photography business while in college. This could help put some money in my pocket while also giving me the experience I need for marketing on different social media platforms for my future business. High quality photos can really help sell the service.

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