Law 531 Week 2 Reaction Paper

Question 1: In order for Ted and Mike to acquire the amount of $10,000, they need to know where to obtain the money. Some ways that Ted and Mike can gather money is by taking out loans from the bank, putting a mortgage on their houses, start a part time job, take out small business loans, grants, funding, and look for investors to support their idea. There are many variations in which Ted and Mike can get money to start their business those are just a few. Ted and Mike will face a lot of complications with starting their own business. When someone starts their own business they need to know how to secure those funds. Securing funds in a business has many problems. A few of those problems are not knowing your financial situation, misunderstanding that success happens over time not overnight, and understanding where the idea being made is going to be in the current marketplace. For a successful business a person’s
Mike and Ted could start convincing me for investing in their business by explaining their business and how much profit it would create. I would like to know this because it would give me a better understanding as to if I would get my full investment back. Another thing I would like to know is if there is a place for their business in the marketplace. This is based on supply and demand. If there is a demand for a business like Mike and Ted than it would make sense to invest my money into their business. However, Mike and Ted need to convince me that their business would be different, and show how it’s better than all the other businesses just like theirs. An additional way to persuade me into investing my $10,000 would be to explain how they would manage their business. Overall, Mike and Ted would have to present how they would bring in venture capital for the business. Just selling their pitch in an interesting way would suffice my