Throughout the past nine weeks, I have learned many concepts in my Disney class. One concept was creating your own business and learning the difficulties and hardships you may encounter. In the course Advance Studies In Hospitality Management, we create a business plan for a water park. I realize there are many measures you must take and plan to make your business or company a success.
There are many measures you must take and plan to make your business or company a success. The article “Thinking of Opening your Own Business? Be Prepared,” mentions business are booming but many are “going bust.” There is no way to tell how well your company will do, but strategically planning will be the best move to make, and definitely for beginners or someone with little or no experience. This article explains causes of business failures, and the primary reason is the growth of business. Firms and companies are growing rapidly, which means more competition. Beginners should know their place before opening a company or selling a product. The article mentioned that you should analyze other company’s success and failures track records, mainly to learn and figure why did they succeed or fail. Second, knowing your product and market let you know where you stand. Lastly, once you open your business, you need effective managers to help run your company. Starting up your own business is different from how I imagined it. I know it is
Starting up your own business is different from how I imagined it. I know it hard to manage a business, but I didn’t realize how much work you need to put in before you even open up one. The success of your business depends on how well you plan. By taking this course and reading the academic journal, I was able to see a bigger picture of opening a business.
Academic Journal Link: http://onesearch.cuny.edu/primo_library/libweb/action/display.do?frbrVersion=7&tabs=detailsTab&ct=display&fn=search&doc=TN_sciversesciencedirect_elsevier0007-6813(85)90066-7&indx=1&recIds=TN_sciversesciencedirect_elsevier0007-6813(85)90066-7&recIdxs=0&elementId=0&renderMode=poppedOut&displayMode=full&frbrVersion=7&frbg=&&dscnt=0&scp.scps=scope%3A%28CUNY_BEPRESS%29%2Cscope%3A%28NY%29%2Cscope%3A%28AL%29%2Cprimo_central_multiple_fe&tb=t&mode=Basic&vid=ny&srt=rank&tab=default_tab&dum=true&vl(freeText0)=opening%20your%20own%20business&dstmp=1492396049462
I m glad you had the experience to open your own business in your Hospitality and Management class. I wonder if you like to have your own hotel / restaurant one day. I know it will be a lot of work but it might be worth it.