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Assignment Content This morning you received an email from a new potential investor, requesting a preliminary meeting for later this week. This is your chance! You decide the best course of action is...

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  1. This morning you received an email from a new potential investor, requesting a preliminary meeting for later this week. This is your chance! You decide the best course of action is to begin compiling all of your previous research in writing. For this assignment, you will develop an action plan for your business idea.

    Reflect on your Week 1 Apply assignment, Business Plan Outline. This is your “big” idea that could make you the next Bill Gates. Your idea sounds good and looks great on paper. Now it’s time to determine if this idea is feasible. Remember, it’s better to identify challenges early than to put time and effort into a business that is destined to fail. Regardless of the outcome, you will now have the knowledge and skills to begin a business plan and determine if the idea will work.

    Review Sections 4.2, 4.3, 4.4, 4.6, and 4.7 of Ch. 4.

    Develop a 1,050- to 1,400-word business action plan.

    Identify your business idea and your product or service. Include details about your product or service and the customer experience that you want to provide for your customers.

    Choose your industry. Briefly, identify market size and trends, strengths and weaknesses of competitors, and your customers and their needs.

    Identify your perceived competitive advantages, including any unique benefits, and any limitations of your product or service.

    Identify funding needs. Determine why funding is needed and which sources of funding to consider. Consider self-funding, borrowing, equity, venture capital, etc.

    Determine the feasibility of your business idea. Identify if you need more information to determine feasibility and what additional resources and support you need, such as help from attorneys, accountants, and other business advisers.

    Develop a timeline for your business and business planning. Include major tasks or milestones that must be accomplished. Assume that you determined your business idea is feasible for the purposes of this step in the assignment.

    Cite any sources using APA format.

    Submit your assignment.


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Answered Same Day Aug 04, 2021


Moumita answered on Aug 07 2021
132 Votes
Table of Contents
3Identifying the Business Idea and Service
4Choosing the market and explaining the market
5Identifying the Competitive advantages, benefits and limitations
8Funding Parameters
8Determining the feasibility of the Business Idea, Resources and support
9Developing timeline tasks and milestones
The idea of the new business that has been chosen here is a skilled nursing facility that offers long-term care along with short-term care; it will also be providing OT, PT and ST therapy (Mlodnicka et al., 2016). In Australia, the medical system and its services are quite advanced. However, the reality is the skilled nursing facilities and services in Australia, is not much significant. Hence, this proposed new business that is chosen here can be very much substantial in Australia. A detail new business proposal will be provided for the new business that includes its market, competitive advantages, limitations and benefits. Apart from this funding parameter and a detailed timeline will also be described in this business proposal.
Identifying the Business Idea and Service
The skilled nursing facility is a medical service to ill patients who need medical assistance for being cured. Many functions cannot provide from medical centres like hospital or nursing homes. Hence, the patients especially those who are elderly or suffering from any sort of health-related severe ailments intend to avail home services from skilled nursing professionals (Willis, Ca
yer, Harvey, Pearson & Henderson, 2017). Hence, the industry of skilled nursing facility is a new business conception in Australia, and it is awaited that this industry can soon emerge as a potential industry in Australia. In Australia, the nursing service is quite an old concept, and several organisations assist ill patients so that they can recuperate soon (Nagaratnam & Nagaratnam, 2019). However, the proposed skilled nursing industry that is going to be introduced here is quite different from the general nursing services. The main idea that is going to the recommended for this new Australian business is, it is aimed to provide 24*7 services to the patients. Apart from this, this new nursing facility is skilled and is not intended to address only the particular illness that has been inflicted to a patient.
Apart from providing the nursing service to the patient, it is another aim to OT, PT and ST therapy. The OT or occupational treatment primarily focuses on the issues so that the patient can recuperate soon from the illness the patient is suffering. Its main motive is to attend the primary disease of the patient. Under the PT or Physical Therapy, the patient will be provided therapy on different physical exercises, orthopaedic treatment and initiate the client's good body movement and physical functioning. Finally, it is a common trend that when any patient suffers from any critical disease, then some speech problem grips the patient. Hence, under the ST or Speech Therapy, the client will be helped and encouraged to talk more so that the ill person feels mind relaxation and does not confront any speech problem. If any nursing service organisation of Australia can
ing all these services under one roof, then it will be beneficial for the client and the family of the client to feel more confident and trustworthy also.
Apart from this, as various services for the recuperation of the client or the patient will be provided from one shelter thus, it will become more comfortable for the families of the patients to provide best health care treatment to their dear ones who are ill. It is awaited that this, a new idea of the business will be a grand success in Australia. If all these services with best and talented nursing staffs, then the recuperation of the patients can be quickly initiated.
Choosing the market and...

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