Self Reflection Lesson 2

The most valuable thing I learned from lesson 2 is there is so much to consider when you are beginning to come up with a business plan. Many people in the discussion board commented that there has to be a passion or at least an interest in the product you are selling. I think that to an extent this is true.If you have no real commitment to your product beyond making a profit you may not have as much motivation to be successful as someone who really cares about their product. On the other hand there have been a lot of people whose only investment was the profit be successful while people who were cared a lot about the product they were selling not find success.

Other things to consider when starting a business is your audience. Is your targeted audience going to have money or interest in investing in your product. You should also consider the competition. Low competition products might not have competition because there aren’t many options in the market for the product you are selling. It could also mean that very few businesses felt like it was a market they should even pursue because the demand or profit isn’t there. You should also be aware that if you are selling a seasonal product you may not bring in money year round and decide if that is the type of product you really want to sell.

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