Conceptualizing a Business

Conceptualizing a Business

Jamie Roth

BUS 475

University of Phoenix

Ronald Storm

October 31, 2011

Conceptualizing a Business

Starting a business from the nothing but an idea is not an easy task. There is much that must be considered before taking the risk of making a financial investment in this undertaking. First, a vision must be developed. From that vision, a mission statement is constructed. All of the values a potential business owner learns throughout his or her life need to be applied. Once these factors are in place, creating a strategic business plan is possible. This paper will outline the process of conceptualizing the opening of a Bed and Breakfast. In the following paragraphs, a vision and mission statement will be developed, target customers will be determined, and a commitment to social responsibility and ethical business practices will be discussed.

Defining the New Business

Before moving forward with the financial aspect of starting a new business, creating a clear definition of that business is necessary. The idea of opening a Bed & Breakfast has been a life-long dream. This is where the vision comes into play. The concept is to provide lodging for travelers, vacationers, or even honeymooners that will leave them with the feeling that they were not just staying at a hotel, but were visiting an old friend or spending special time with family. Once a clear vision of this new business is established, a mission statement is formulated.

Mission Statement

Here at Gramma Jamie’s Bed & Breakfast, our mission is to provide you not just with a good night’s sleep, but also a feeling of home. Memories are made from unforgettable experiences, heartfelt and precious. Our goal is to provide you with memories to last a lifetime. Visiting family and friends on holidays and special occasions is a timeless tradition, and here at Gramma Jamie’s Bed & Breakfast, we would like to help you start a new tradition at your home...