Problem Statement

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Problem Statement

Problem Statement

Master’s Program University of Phoenix

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Problem Statement

In building an organization or a company there are different needs to be addressed. Currently, I am in process of working as an independent contractor and working a full time job, as I build my business I am faced with many of the challenges that is used in the example of Kudler Foods. I am faced with time constraints, no staff and very little capital. Luckily for me my business does not require a large sum of money. I realize that in order to have my business I need to gain capital and time. Every small business owner and independent contractors have to find alternative resources to conduct business these resources include but not limited to cash, staff, budgeting and production.

Cash Flow

In building your business, the hardest resource to come by is cash flow. Every business owner needs cash to conduct business. This resource for some is attainable due to their own personal cash flow. To most small business owners obtaining cash flow can be most difficult. For example a friend of mine has started a line of bake goods to sell to restaurants. She has a great business idea and the marketing collateral is phenomenal however, she lacks the financial resources to actually acquire a facility to mass produce her goods. She is currently trying to obtain a loan in order to lease space. This is similar in the example of Kudler Fine Foods the business owner had to obtain a loan in order to grow her business.

In order to obtain cash flow we learned from Chapter 15 of Understanding Business, that there are some alternative ways to gain capital- such as trade credit, borrowing from family and friends or securing a loan from a financial institution. Each one of these is considered good resources to use to gain the funds needed for your business. I am currently using my own personal funds to finance my business due to the low cost to start...