It has always been a dream of mine to one day open and run a small business. I feel that I know myself well, and that this career field would suit me best. Rather than have one large company that brought in a sufficient income annually, I prefer to have multiple small businesses which in turn lead to large profit margins. I get bored easily, and this variety of work will keep me motivated and happy through the rest of my working life. However in order to achieve my life dreams of running these businesses, there are certain steps I must climb first to accomplish my goals. I realize that education in this field is not a necessity, but will go a long way on my journey to the top. I do however plan on graduating from the Cameron School of Business here at UNCW and making vast amounts of money within seven years of my completion of college. There are certain requirements that are needed to get into the Cameron School of Business, and certain requirements needed to graduate. For one,a completion of a Cameron School of Business Admission Application must be on file. Students must have an earned UNCW GPA of 2.4 in all required classes(shown below).
Students must also attend one session of the Cameron School of Business Admission Orientation. Admission requires registration in the Undergraduate Degree Program Office to attend as well. ACG 201 (3) ACGL 201 (1) ECN 221 (3) ECN 222 (3) ENG 101 (3) (ENG 103 can be substituted.) ENG 201 (3) MAT 151 (3) QMM 280 (3) (MAT 161 can be substituted.) Foreign Lang. (3) (Basic Study Requirement) Two courses that are required for admission, but not calculated into GPA are: ACG 203 (3) MIS 213 (3) (projected new course) (chart taken from the UNCW homepage) Upon entering the Cameroon school of business, there will be further requirements that must be met in order for you to receive your degree. Classes such as basic accounting, economic, statistic, and math classes must be completed before a degree is had. Other more in depth core classes must be taken as well. These classes do not have to be taken simultaneously, but must be concluded.(list of core classes shown below) *Legal Environment of Business *Money and Capital Markets *Business Finance *Principles of Marketing *Principles of Management *Business Policy *Introduction to Management Information Systems *Production and Operations Management On top of the required core classes, you must complete six courses in the general business concentration.
This concentration provides many of the day to day skills needed to run a business. Entrepreneurship, hospitality management, marketing research, services marketing, management, risk management and insurance, are all examples of these classes which will help tremendously in the business world. When all of these requirements are met, you may receive your degree in business. Hopefully the experiences you learned through college will help you on your way to success. Before I started my research on the opening and operation of a small business, I interviewed a young entrepreneur by the name of Ryan Pittman. He is just starting out, and trying to get his DJ business off of the ground. He gave me much insight into the questions I should ask myself before I start my business. I was amazed at the list that he rattled off on the spot. First he said to question your motives for starting the business. *Do you want to be your own boss? *Do you want financial independence? *Do you want creative freedom? Next, he asked me to question wether the business was suitable for me by asking questions like: *What do I like to do with my time?
*What technical skills have I learned or developed? *What do others say I am good at? *How much time do I have to run a successful business? After you answer these questions, Ryan said to think about these further uncertainties to solidify my choice of starting this business: *What business am I interested in starting? *What services or products will I sell? *Is my idea practical? *What is my competition? *What is my business’s advantage over existing ones? *Can I deliver a better quality service? *Can I create a demand for my business? This interview really helped me to see the thought process of how to determine what business I should run. Before our interview ended he told me that it is imperative that I learn how to draw up a business plan. This will be the skeleton of your company he said, and the rest is all of the effort that you put forth. He told me roughly how to write one, but he could not go into detail. I did further research and learned the skill of writing a business plan.
A business plan is an descriptive and complete outline of the company. The business plan can be divided into four distinct sections: the description of the business, the marketing plan, the financial management plan, and the management plan. I have attached an outline of a business plan on the back of this packet. In it you can find the strengths and the weaknesses to your vocation. With all the paper work said and gone, I believe that this job will be profitable and exciting. I do not have a one specific business idea that I would want to start upon graduation. However, I think about this non stop and I know that I will one day have my â€œbig idea.â€ Just the thought of being my own boss, and calling the shots for the good of the entire business is enough motivation for me to enter into this field of work. There is no dress code, I make my own hours, and work in the environment that I choose.
There is honestly no other job that can give me these benefits. I firmly believe that if I do not work for myself, then I will be miserable every working day of my life. In closing, I really enjoyed this assignment. As much as I dreaded writing it and setting up interview appointments, I learned a tremendous amount about the business. I think the biggest learning experience about the whole thing was the constant questioning process that I must go through in order to succeed. I am still confident however in the fact that I will be a success. I still plan on making a lot of money seven years after graduating, and supporting my family on the back of the business that I built from scratch.