Answer 1

1. Kind of Bakery I Would Like to Open

The kind of shop that I want to open is one of the first decisions I'll have to make. I'll want to
analyse my skills, budget, and priorities in order to achieve this.
To find out how national currents can impact my unique position and population, it is equally
important to do local market research. From there: I will look at the following list and
determine which one is correct for me.

 Counter Service
For a small business room, clients can walk in from an employee-managed counter and pick
up baked goods.

 Speciality Service
If I plan on specialising in a certain form of baked good, the best choice is a specialty service.
It is up to me whether I run the company from my home or rent a room.

 Sit Down
More owners are seeking to capitalise on the chance to sit down and dine. It's a rising
development right now in the bakery industry. Imagine a room with both an area for ordering
baked goods and a place to relax and eat them.

2. Make a Business Plan

I need to build a marketing strategy until I know what type of bakery I want to run. This will
push me to analyse the enterprise from any perspective. It will help me identify my business,
set targets, find ways to raise sales, list costs, identify my customer base, and analyse my
rivalry.

Asses Start-Up Funds

I'll be diving into finance as part of my business strategy. Start-up cost is one of the figures I
would need to produce. A list of facilities must be compiled, from machines such as ovens
and refrigerators to smaller products such as utensils and pans. Be sure that I create a
comprehensive tool list. The equipment will be a one-time hit, but as the company gets
formed, I will still need money to survive on.

3. Shop for Space

Be picky, whatever my desires are. To ensure that I find the right space, shop around,
compare costs, chat with neighbouring firms, and study the region. It's never a bad thing to
look at incubator services for small companies that could provide room and company
preparation or mentorship at a discounted rate. Do not fail to consider the legal provisions
that vary from state to state, such as getting a baking licence from my own kitchen.
 4. Price My Baked Goods
Stuff like washing time, wrapping, and time spent advertising my company on social media
should be included in my costs. In a bakery, the greatest hidden expense is time.

5. Hiring Staff
To oversee the actual baking process, the bakery should have at least one or two workers who
have advanced training or bakery experience. In addition, I will also choose to recruit certain
unskilled staff to wash dishes, blend recipes, package items, and perform other duties that
may not require previous training or skills.

6. Marketing Strategies
I might spend the entire day and night in the kitchen baking the next best cake, but if nobody
thinks about it, it doesn't matter. That's why I've got to put aside time and resources to market
my brand.
Being a successful baker doesn't guarantee results. I will have to be a fantastic marketer, too.

Hosting a Grand Opening

Hosting my grand opening and inviting clients to my shop is the last step in opening a bakery.
A great grand opening will give a positive start to my new bakery and help build some loyal
customers. To generate anticipation and ensure that buyers know when my bakery is opening,
I can announce my grand opening.

Answer 2
Income Statement VS Balance Sheet VS Cashflow Statement?
The declaration of sales and the balance sheet analysis is associated with the financial
position of a company on various accounting metrics. You can better understand how they
differ from each other by getting to know the purpose behind each of the documents.

What Goes on an Income Statement?

For a particular amount of time, a financial tax, also called a benefit and loss tax, records the
sales, costs and net profit or loss of a corporation. The following line items are listed from an
income statement:
 Sales: Revenue created by the selling of goods and services
 Cost of Goods Sold: Both prices of labour and supplies
 Gross Profit: Subtracted from sales, the expense of products sold
 General and Administrative Expenses: Leasing, electricity, salary, etc. are
included.
 Earning Before Tax: The pre-tax profits of your corporation
 Net Income: Total profits minus total expenditure, resulting in benefit or loss
The ultimate aim of the sales statement is to display a company's net sales over a
given reporting period. If the net profits are a positive amount, the company claims a
profit. If it is an unfavourable number, a loss is declared by the organisation.
What’s Going on a Balance Sheet?
At a certain point in time, a balance sheet lists the assets, liabilities and equity of a company.
A balance sheet is split into two main components: assets on one side and liabilities and
equity on the other. It is important for both sides to level out, which means they can be equal
to each other. On the line, it lists the following things:
 Current Assets: Properties that can be converted to cash within a year, including
receivable balances, inventory and expenditures prepaid
 Long-Term Assets: Properties, including property, buildings and facilities, that will
not be converted to cash within a year
 Current Liabilities: Within a year, debts due, including rent, electricity, taxes and
payroll
 Long-Term Liabilities: Long term corporate debt, liabilities of mutual funds
 Shareholders’ Equity: Net assets of a corporation, including income created by the
company and resources donated
The balance sheet for a given date tells you what the organisation owns and what it owes to
others. It gives a snapshot of the overall business value.

What Goes on a Cash-Flow Statement?

The declaration of cash flow is broken into three sections
 Operating Activities: This section of the cash flow statement documents the cash
flow from normal economic transactions, such as sales and acquisitions of goods /
services.
 Investing Activities: This portion of the cash flow statement is commonly made up
of all activities related to the sale / purchase of long-term properties.
 Financing Activities: This segment will include everything from stockholder trades
(this does not extend to many start-ups), borrowers, treasury stock acquisitions, etc.
A declaration of cash flow combines all three components into a single structure that counts
the company's net income.

Answer 3
Intrapreneurship
The term intrapreneurship refers to a structure that allows an person to act as an entrepreneur
within a company or other entity. Intrapreneurs who join the effort to pursue a creative
product or service are self-motivated, positive, and action-oriented people. An intrapreneur
recognises that loss does not have a personal expense, as it does for an entrepreneur, while
the business absorbs costs resulting from failure.

An intrapreneurship offers an entrepreneurial ecosystem by promoting staff to exploit their

entrepreneurial skills for the benefit of both the business and the worker. This gives
employees the freedom to innovate, as well as the potential for change within an organisation.

When trying to find the best solution, intrapreneurship promotes autonomy and
independence. For example, an intrapreneurship may encourage an employee to research and
recommend a more productive workflow map for a company's brand within a target group or
incorporate a way to benefit the company's culture.
Advantages
 Unlike many founders, intrapreneurs have stable work promoting their
entrepreneurship activities. And all the advantages that go along with a corporate job,
they operate within a company: a stable salary, health insurance, etc. This gives the
intrapreneur a degree of ease absents from many entrepreneurs.
 The company in which they work is funded by intrapreneurs and their innovations.
Build a prototype? Oh, no problem! Testing fields? Not a problem! Corporate
developers ought to support their ideas and protect them, but they don't have to pay
for them. Moreover, in the form of partners and senior personnel, companies have
built-in mentorship and activism.

Disadvantages
 Entrepreneurship is always fuelled by a fire in the gut, and the fire is stoked by need
in many situations. In their confidence in themselves and their concept, the
entrepreneur is motivated to succeed, but also because they have no safety net. In the
face of adversity, the absence of economic distress enjoyed by the corporate
entrepreneur will restrict the determination to step ahead merely because there is not
so much adversity.
 If you're a businessman and the name struggles, it hurts-that’s not sugar-coating. But
from the mistake, you can learn and pivot or step on. Sure, you took a blow, a big one,
maybe, but you're so much wiser. You've already probably made contacts with other
founders, a system of encouragement that can help you propel a new idea ahead.
When the definition of an intrapreneur fails, it can be a blot on their jobs and can lead
to potential proposals being discarded.

Answer 4
3 Components of Value Propositions
In a nutshell, a value proposition is a straightforward argument that gives three things:

Relevancy: Explain how the item fixes the problems of consumers or changes their
condition.
Quantified Value: Provide unique advantages.
Differentiation: Tell the ideal consumer why they should buy from you and not from the
competition.

Uber’s Value Proposition

 The “exact ride” that the user needs (i.e. pick-up and drop-off point without transit on
either side)
 On-demand from the App, no need to schedule a pre-order (though possible). Uber
aims to provide reliable rides in that people don’t have to plan trips ahead of time
 Typically, lower prices than a comparable taxi ride (exception: surge pricing); an
estimated fare is provided prior to the ride
 Rider sees the driver’s name, license plate number, photo, rating before entering the
car; sharing of trip with friends/family prior, if desired; real-time tracking during the
ride; emergency button and reporting function.
Answer 6
Desire to Achieve
There aren't entrepreneurs in it for money. Although that could be an extra advantage, doing
what they enjoy is the real gain. It takes a lot of time and resources to develop a business.
This suggests putting in extra hours and undertaking more jobs. You're not going to continue
to do what it takes to reach success if you don't enjoy what you do.
Since they are so focused on their dream and goal, entrepreneurs are not scared of hard work.
When an obstacle emerges, they don't give up. They stick to their affection and see it through.

Opportunity Orientation
Opportunity orientation is able to see the future overflowing with potential, how you can
build and/or access prospects and learning excitement that flips obstacles and "failures" into
prospects and opportunities through multi-purpose creativity and creativity to make a
difference as a Changemaker.

Initiative
The sense of initiative and entrepreneurship relates to the capacity of an individual to
translate ideas into motion. Which requires ingenuity, imagination and risk-taking, as well as
the ability to organise and execute projects to accomplish targets. This allows people to be
aware of the context of their jobs and to be able to exploit resources, not just in their daily life
at home and in society, but also in the workplace. It is the basis for more specialised skills
and expertise that are required by those who create or contribute to social or commercial
enterprise. This should require understanding of ethical principles and good government
should be promoted.

Responsibility
As an entrepreneur, you are responsible for attracting the right jobs for your business. You
are responsible, as an entrepreneur, for setting up the business team.
Due to the market mistakes, you should not assume your rivals are guilty. Competitors expect
you to be the same. It reflects a greater market share and higher revenues and profitability.
Why do they excel and you fail to excel? Your success in company is not their duty. It's all
yours.