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2: You Are an Entrepreneur - Assignment Example

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2: You Are an Entrepreneur

Thus, I decide to start a business of photography in which I shall be the sole proprietor. Photography is a service offered to the client who are interested and require it. For starting the business at first I need to obtain a business license from the state and local authority so as to operate my photography business. Secondly I need to design a logo that will help to showcase my work and will represent me. Thirdly, I need to develop a photography business site of my own which will carry my photographs’. It will act as a link to reach various clients residing in different places of the state. For full marketing of my work, business cards are also required along with the photography business site. Next I shall approach for a rented flat where I shall open the studio. I have to also purchase and arrange for the different equipments that are required for starting photography as a business. The equipments will be camera, lens, computer, editing software, lightning devices, tripod stand, and sundry equipment. I will also have to employ 2 persons who will help me in my business operations. b. The photography business undertaken by me would be a sole proprietorship business. A photography business may operate in several forms, such as, working at weddings, a portrait studio, freelancing for media outlets, taking photos for children’s and individuals who want the service for their personal requirement, and making gallery of quality photographs. The line of business is an area of personal interest and an area which have been my hobby from all the past years till date. The business will allow me to apply my own thoughts and perceptions with which I shall be able to make it more prosperous. I shall be able to instill my ideas into my works which in the coming future would help me to gain a handful of revenue and I expect to attain success in the competitive market with the help of it along with my hard work. c. The chart of accounts as per the proposed business is- Note: The costs for all the above items have been assumed as per the market. License is required for starting any business and is to be obtained from the state and the local authorities. Preparation of logo design, photography business website and business card is required for creating an image and marketing the business which I am going to enter. As a flat is to be taken in rent so rent is to be paid which would act as a recurring expenditure for the business. So as to build a studio and an office, interior decoration is required which would attract clients. Choosing the right camera is an important part for starting the business. I shall choose a camera of Cannon 60D and 18-55mm which will be able to meet the requirements of the business. The camera is a digital single lens reflex camera (DSLR) that is used by the professionals. The camera supports interchangeable lenses so as to use as per the type of work that is to be performed. At the initial stage of starting the business I shall buy only one extra lens, i.e. lens of 50mm 1.4. Considering the financial constraint it was decided that other lens as per requirement will be either taken in rent or purchased based on the revenue earned from business. The other accessories required for staring a photography business apart from camera are Lightning, Tripod, Sundry Equipment, Calibration, computer and processing and editing software. Table and chairs is ...Show more

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Assignment 2: You Are an Entrepreneur! Date: Table of Contents Table of Contents 2 Answer 1. 3 Answer 2. 6 Answer 3. 7 Answer 4. 8 Answer 5. 9 Answer 6. 10 References 11 Answer 1. a. Photography has been an area of great personal interest since my childhood…
Author : vbaumbach
Assignment 2: You Are an Entrepreneur essay example
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