Exercise: Preparing your business plan.

You are considering the possibility of operating a small business or practice in some activity related to health care, either as a provider of some sort of care or as a service intended to support various provider organizations in their care-delivery activities. a. First describe the kind of entity you plan to establish, by stating the service or services you propose to deliver and the kinds of clients or customers you would be serving. b. Next, write a paragraph offering compelling reasons for your proposed venture, explaining why you believe it is needed and by whom it is needed. Incorporate in this narrative a description of the kind and extent of competition you might face in your intended service area, and delineate how your services would be sufficiently different to enable you to compete successfully. c. Develop a crude estimate of how much money you will require to become established in business and up and running, and state how you would consider trying to finance your venture. d. Finally, create a rough outline of your business plan, describing each step in the plan and stating the purpose of each step.

Found in Chapter 12 on page 402 of your book, Seventh edition. Your response should be 1-2 pages and you should include references from your textbook.

Chosen entity: Respiratory Therapy