Selena Kim has often dreamed of starting her own web-based business selling vintage Asian jewelry. But she realizes she must do more than just dream. Before Kim invests her money, she needs to think carefully about her business, including potential competition, who her customers will be, and whether she has the potential to make a profit. Kim needs to ________, which will help guide her thinking about this important step.
A) tour similar, existing businesses
B) write a business plan
C) take a seminar in starting a small business
D) brainstorm options
E) control her expenses

Question

Quizplus · Accepted Answer

Writing a business plan is a critical step for anyone considering starting a business. It helps in organizing thoughts, understanding the market, identifying potential customers, analyzing competition, and assessing profitability, which are all aspects Selena Kim needs to consider before starting her web-based business selling vintage Asian jewelry.

Selena Kim Has Often Dreamed of Starting Her Own Web-Based