Week 3: Sustainability Project Part 1
Understand the importance and the method of writing feasibility and business plans.
The theme for the next two weeks (3 & 4) focuses on developing a Small Business Sustainability, Survivability, and ongoing Maintenance Plan for the local business you have been interviewing. The plan you will develop and submit by Sunday of Week 4 must address how you and the Entrepreneur/mentor agree that he or she can insure that his or her business can survive for the next few years? After researching the subject of small business survivaility, you should have an extensive list of factors affecting the survivability of a small business, including: catastrophic business interruption incidents, major economic downturns, shifts in consumer demand, the loss of a key individual, a computer system crash, a loss of financing, significant legal issues. There are more factors that affect the survivability of a small business that we will leave for you to discover in your reading assignments.
Your assignment for weeks 3 is to complete the first part of a sustainability project:
Read the materials in the Lessons section (Reading & Resources)
Do some additional research on survivability and ongoing business continuity factors
Develop a preliminary list to present to your Entrepreneur/Mentor
Conduct an interview with your Entrepreneur/Mentor
Submit your notes from your interview for grading in Week 3.
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