Bus 604 Week 1 Assn

Running Head: Week 1 Assignment-Personal Assessment

(Your Name)

BUS 604: New Business Venture Management

Dr. Scott Shaw

April 22, 2013

One cannot understate the power of passion; however, passion alone is not enough to make a venture successful. Passion can sometimes be taken as aggression. With most things that I am involved in, I’m very passion about, if I like a team, I know about all the players not just the starters. I understand the front office and the mentality of the goal. If I like certain brand or style of shoe, I wear it regardless of what someone else may think. I live, eat, breathe, and think things that I am Passion about. Passion is in all aspects of life (mental, emotional, social, financial, and spiritual). I am my passions. Passion in the business word is very important. Passion comes from one belief that their business will add value and change lives. In addition, without a product that customers are willing to buy and without customers passion and a business idea are useless.

Thus, one must be focused on customers and the product they are selling. Believing an idea will allow you to think of creating the best product. Not only do you want to make the idea, but you want it to be an idea that can grow and extend. The passion will allow you the knowledge to research the area you are in, understand what is not being offered, how you can make different stages so that it is not just a one hit wonder, but something that will innovated for a lifetime. This will need you to making a structured plan on services to back the solid product. Services at times can lead to even more success for a product that is solid or just slightly missed. Anyone will tell you they will prefer to payless for great service or vice versa. What better way to grow your brand, than word of mouth. Being an employer of a major insurance company, allowed me to realize how important customer service is and the value it holds, that is immeasurable.

Lastly, many ventures...