Personal Business Plan
Personal Business Plan- I will be fair and considerate to all of my customers no matter the circumstances
Business Enviroment- I will be competing in the Health Sciences field as a Physical therapist. In the overall global environment this field is pretty big because of the numerous jobs that this field includes. Some of the factors that cause supply and demand in this field are the number of people who are inflicted with injuries and also the age of the people that are affected by these injuries. If everyone is healthy and uninjured then there would be no need for physical therapists or anyone in the health sciences field.
Entrepreneurship and Strategy- I plan to be an entrepreneur and open my own physical therapy shop in my home town. I want to do this because I want to be my own boss and be in control of what I am doing at all times. Starting up my company I'm sure I'll face many challenges early such as lack of customers, building a brand, and overall trust of customers. Most businesses early on have a lack of customers because no-one is familiar with the business or it's employees. However overtime I plan to build a relationship with my customers so they can be sure they are able to trust me. Another strategy I have to build by brand is to create t-shirts with my logo on it to spread brand awareness and help build the brand. When people see my logo they might get curious and want to check out my business.
Management- Being in-charge of my very own physical therapy business would be very difficult and I would have to make sure to find employees that I can trust and that would be able to help me keep the company running. I would set out to find experienced physical therapists that would be sure to give me their very best. I would keep myself motivated by knowing that what I am doing is helping people get better and back to where they want to be. I would set business goals yearly like obtaining a certain amount of new customers, making sure each and every customer is satisfied with their visits, and not overcharging any customers for my services. I would be a fair and understanding business owner and try to give back to my customers and my community in every way possible.
Marketing- I would be very involved when promoting my company. I would want to get my brand out there and make sure everyone has heard of it. I would rent billboards and put up flyers around town to spread awareness of my business. Also I would create t-shirts and hats that would be given to my customers as another way to spread brand awareness. My potential customers could be anyone of any age who need help after an injury where they require some sort of rehabilitation. I would promote my business as a caring small town physical therapy shop that is all about helping others. I wouldn't want anyone to think I am a selfish business owner who only cares about money. I would also create a website for my business so it is more likely to get seen by people of all ages. An online website would be a great way of promoting my business.
Accounting and Finance- Finances and keeping track of my business incomes would be a very important aspect of my business. I would want to be sure of what is happening to the money my business is making at all times. I would have very well taken care of balance sheets and ledger books to keep track of my income. I would also have a very defined system of how I would pay all of my employees. I would also have to take account of how much I would be spending to promote my brand as well as how much it would cost to rent out a building and handle all of the bills that would go along with that. I would make sure to subtract that cost from my total earnings to ensure I know how much my company is making per month.
Information systems and Operations- Information systems and operations would be a very vital part of keeping my business running. I would use them to track how my business is doing and how it is projected to do in the future by using data that I will collect while running the business. Other thing I will use it for is to see how my local competition is doing. I will use that information to come up with ways to improve my business. The final thing I would use information systems for is to help keep track of my financial accounts to make sure my business doesn't go bankrupt. I would use this data very carefully to help make my business the very best that it can be.
Articles Cited:
(n.d.). Retrieved from http://www.naceweb.org/job-market/trends-and-predictions/job-outlook-the-degrees-and-majors-most-in-demand/
(n.d.). Retrieved from http://www.naceweb.org/job-market/compensation/projected-top-paid-business-bachelors-masters-grads/
Drucker, P. F. (2016, October 17). Managing Oneself. Retrieved from https://hbr.org/2005/01/managing-oneself
Business Enviroment- I will be competing in the Health Sciences field as a Physical therapist. In the overall global environment this field is pretty big because of the numerous jobs that this field includes. Some of the factors that cause supply and demand in this field are the number of people who are inflicted with injuries and also the age of the people that are affected by these injuries. If everyone is healthy and uninjured then there would be no need for physical therapists or anyone in the health sciences field.
Entrepreneurship and Strategy- I plan to be an entrepreneur and open my own physical therapy shop in my home town. I want to do this because I want to be my own boss and be in control of what I am doing at all times. Starting up my company I'm sure I'll face many challenges early such as lack of customers, building a brand, and overall trust of customers. Most businesses early on have a lack of customers because no-one is familiar with the business or it's employees. However overtime I plan to build a relationship with my customers so they can be sure they are able to trust me. Another strategy I have to build by brand is to create t-shirts with my logo on it to spread brand awareness and help build the brand. When people see my logo they might get curious and want to check out my business.
Management- Being in-charge of my very own physical therapy business would be very difficult and I would have to make sure to find employees that I can trust and that would be able to help me keep the company running. I would set out to find experienced physical therapists that would be sure to give me their very best. I would keep myself motivated by knowing that what I am doing is helping people get better and back to where they want to be. I would set business goals yearly like obtaining a certain amount of new customers, making sure each and every customer is satisfied with their visits, and not overcharging any customers for my services. I would be a fair and understanding business owner and try to give back to my customers and my community in every way possible.
Marketing- I would be very involved when promoting my company. I would want to get my brand out there and make sure everyone has heard of it. I would rent billboards and put up flyers around town to spread awareness of my business. Also I would create t-shirts and hats that would be given to my customers as another way to spread brand awareness. My potential customers could be anyone of any age who need help after an injury where they require some sort of rehabilitation. I would promote my business as a caring small town physical therapy shop that is all about helping others. I wouldn't want anyone to think I am a selfish business owner who only cares about money. I would also create a website for my business so it is more likely to get seen by people of all ages. An online website would be a great way of promoting my business.
Accounting and Finance- Finances and keeping track of my business incomes would be a very important aspect of my business. I would want to be sure of what is happening to the money my business is making at all times. I would have very well taken care of balance sheets and ledger books to keep track of my income. I would also have a very defined system of how I would pay all of my employees. I would also have to take account of how much I would be spending to promote my brand as well as how much it would cost to rent out a building and handle all of the bills that would go along with that. I would make sure to subtract that cost from my total earnings to ensure I know how much my company is making per month.
Information systems and Operations- Information systems and operations would be a very vital part of keeping my business running. I would use them to track how my business is doing and how it is projected to do in the future by using data that I will collect while running the business. Other thing I will use it for is to see how my local competition is doing. I will use that information to come up with ways to improve my business. The final thing I would use information systems for is to help keep track of my financial accounts to make sure my business doesn't go bankrupt. I would use this data very carefully to help make my business the very best that it can be.
Articles Cited:
(n.d.). Retrieved from http://www.naceweb.org/job-market/trends-and-predictions/job-outlook-the-degrees-and-majors-most-in-demand/
(n.d.). Retrieved from http://www.naceweb.org/job-market/compensation/projected-top-paid-business-bachelors-masters-grads/
Drucker, P. F. (2016, October 17). Managing Oneself. Retrieved from https://hbr.org/2005/01/managing-oneself
How to Manage Your Career. (n.d.). Retrieved from https://www.nytimes.com/guides/business/manage-your-career?smid=fb-nytimes&smtyp=pay&smvar=guides
Folkman, J. Z. (2018, July 08). 7 Traits of Super-Productive People. Retrieved from https://hbr.org/2018/04/7-traits-of-super-productive-people?utm_medium=email&utm_source=newsletter_weekly&utm_campaign=weeklyhotlist&referral=00202&deliveryName=DM4392
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