With the aging of our U.S. population, you have decided that you would like to start a business that combines home health care services and non-medical services to assist senior citizens. Often times, senior citizens desire to remain in their homes as long as possible and many seniors do not have adult children who live nearby. You believe that this type of service is greatly needed in your local community.

If you are going to become an entrepreneur, you must first give some thought to a few things.

1. Research effective mission statements that would accurately reflect the goals of your new business.
2. Create Individual SWOT Analysis and list between four and six items in each category of the SWOT. You may look on the Internet for a SWOT template or create your own. A SWOT analysis allows you to identify your personal Strengths and Weaknesses as well as look at the external Opportunities and Threats in the environment. Give some serious thought to yourself as an individual so that you conduct a fair assessment of what your strengths are, as well as what areas you may need to improve upon.
3. Addresses how you plan to manage the items you identified in the SWOT analysis. How can you play up your strengths in the new business? How will you manage your weaknesses so they do not interfere with your success as a new entrepreneur? What opportunities exist externally that you can pursue? How will you minimize any external threats to your new business?
4. Last, you will need to consider the budget that will soon have to be prepared for your business. Discuss the three most important decisions managers must make regarding the budgeting process? You will also need to closely analyze your budget on a regular basis. What is meant by the term "variance analysis" and how will you use this in your new senior-related business?