Creating a Proposal for a New Idea--Phase 1 Start Assignment Due Saturday by 11:59pm Points 50 Submitting a file upload o Available Mar 20 at 12am - Mar 30 at 11:59pm Create a three-page business 1 5 : ; . S eRia T e gsg'z; 2l proposal. The cover page is not included in the three-page report. The proposal MUST include all Anew venture: Create a job rather than finding a job: Buildi i ipi i - Lre g a job: Building Great Business Ideas. Entrepreneurship is an option that many people pursue, especially in our expanding freelance and small-business economy. There are some key elements to all successful b{Jsinegses 1. Ensure a clear demand for your product or services. Eve i i i i . Every business idea should have hard and clear evidence of demand in your market or field. 2. Setting SMART goals in the short term will set your business for i isi success in the long term. grow. 4. Work from an idea that motivates you. ) i i e a) Cover Page- should have the name of your business, owner's contact information, business logo, and business information. b). Ex.ecutive Summary- the executive summary is an introduction that su overview of your proposal. The executive summary provides the following: mmarizes your business proposal. Designed to provide a brief target market, and explain what gap in the market it aims to fill or solve. describe the purpose of your business, briefly describe your c) State the problem or need. Provide evidence there is a demand or n potential client. This is your opportunity to show you understand research to show evidence of the problem in the market, an eed. This is where you explain what issues are impacting the their nee: and a reference page. ds and that your business has the solution. This will require d you will need to provide the sources in the body of your proposal d) Proposed Solution- must explain in detail how your business will address the need. different from your competition? What products or services will you offer that are e) Identify your target market (i.e , describe the type of customers that would be interested in your product or service) Provide the demographics, lifestyle, hobbies, and education level of your target market You need to quantify how many potential customers are in your service area. A great resource is Census.gov to get potential data on your target customer f) Indicate how your business would offer a better solution than is currently available to your target market. You will need to d_escrib_e your competition and explain what services they are currently offering your target market and how your business will offer something unique and different. g) Qualifications - describe the skills, experiences, and education you have to operate this business venture. h) Reference page- list the sources you quoted in the body of the proposalminimum of three references. APA format