Analyze the opportunities and challenges that James and Jennifer face in creating this business.

James Prosek, 23, is not going into business for himself; he’s going into business as himself. At least that’s how his big sister Jennifer, 30, sees the plan. Jennifer is part owner of Jacobs & Prosek, a $1.5 million public relations firm based in Stamford, Connecticut. As an MBA candidate at Columbia University’s School of Business, Jennifer and her classmates developed a 67-page business plan to turn “James Prosek” into a profit-making concern.