Daniel J Cross
Dr. Virginia Rae
BUS 100-100F
10/12/2015
Small Business and Entrepreneurship
Market Niche: “A small segment of a market with fewer competitors than the market as a whole. Markey niches tend to be quite attractive to smaller firms” (Kelly & Williams, 2015 p. 108).
Business Plan: “A formal document that describes a business concept, outlines core business objectives and details strategies and timelines for achieving those objectives” (Kelly & Williams, 2015 p. 112).
Internal Locus of Control: “A deep-seated sense that the individual is personally responsible for what happens in his or her life.” (Kelly & Williams, 2015 p. 105).
My material passion would have to be computers. Any business I would be interested in starting would have to be computer affiliated and friendly. I have an idea for an app or website that would help students find a partner to study with. Colleges usually lack a way to find or plan study groups. This app would be a third party app that you could register for and find someone perhaps in another section of your class or maybe a person who has multiple classes with you.
The need for my business would be more college oriented. Outside of college the uses for this service would be pointless, defiantly would have access to a market niche. There would be no real funding necessary that I couldn’t provide for myself just through a part time job. The only investment would be my time. If I were to implement this businesses I would learn HTML, which is the language used to construct websites. This may seem ambitious, I have pretty extensive background knowledge and experience with coding and computers in general. I learned C++ and Visual Basic in the last three years and I have discovered that after the first language any other languages aren’t as challenging because the concepts have already been grasped. Although HTML would have many concepts that I haven’t encountered, it would be a challenge. As far converting it to an application for a phone, I have connections with some fellow students from my time learning C++ who has experience in Swift, which is the language for writing iOS applications. Perhaps a partnership could be born out of the idea. Although one thing the service would need is a database of the classes available at each school that the user is registered in.
The only thing that is really at risk is my time. While between all the things balanced on my plate is already as much as I would like to handle, the extra time could be carved out. The only way I could succeed at this would be to learn HTML and build a quality product. The only possibility to fail is to make sure the product is quality. Publicity could be spread numerous ways and will only cause return traffic if the service offered is a quality service. Without a quality product it is pointless to even try to get it off the ground. The driving force behind the quality would be my work ethic and dedication to the cause.