Running Head: You Are An Entrepreneur! 1
Assignment 1: You Are An Entrepreneur!
Ashley A. Simmons
Strayer University
Alfred Greenfield
August, 2015
You Are An Entrepreneur! 2
Introduction
A business should be owned and operated with passion. Choosing to create a
business from passion of a hobby will create a business with clarity, with a purpose. By
turning a hobby in to a business, this can create positive goals, and ultimately turn those
goals into positive achievements.
Business Goals
The business form selected is a custom events business. The individuals involved in the
business have the passion for design, creativity, and the goal to make everyone’s events…
memorable. The business is known as, “The Dragonfly Custom Events”. The main focus
of this business is to create custom even center pieces, décor and party favors, small even
planning, and small event photography. The individuals who are a part of this business
look forward to working with their clients to provide the best possible service. The
products will include all custom theme decorations, including water bottles, candies,
center pieces, and favors. The stars are the limit to what this business and its design team
can create for any type of event.
Staffing Plan
The business is a very small business and has less than 10 employees. Elena
Boldu is considered the CEO. She was the main reason this business was created. She is
also over customer service, due to her previous experience in the field. Sandra Lowery is
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over the sales and finance. She has a degree in financial accounting and small business
management. Ashley Cox is over marketing and human resources. She is currently a
master student and perusing her educational goals as well as helping with this small
business. Aislin Anderson is over design, fashion, and is currently the company
model/spokesperson. Together, they run, organize, and customize each job and out
sourcing as little as possible.
The employees work together to ensure that the business works in a proper
manner in order to achieve business goals. Since the opening of “The Dragonfly” in early
spring; the organization has created and put on several financing activities, marketing
activities and various other kinds of activities such as fund raisers and pro bono custom
events.
Marketing activities and pro bono custom events are very important to the
business’ growth and prosperity. The success of these need to be as high as possible to
achieve business goals and achievements. The success of these activities are important to
ensure the organizations profitability continues to increase.
Form of Business
This is a small business with very few employees. The form of business as of right
now is partnership form of business. In this business, there are two individuals, Elena
Boldu and Sandra Lowery, who are involved in all business activities. If the business
form were to change it would be because of profit and employee count increase. In this
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form of business there are not very many legal compliances that need to be followed or
that are required. The partners provide the capital for the business.
Chart of Accounts
As of right now, there are several accounts that will be prepared by the business.
The accounts are income and deprecation accounts, balance sheet, a capital account with
ratio of expense, for the business. The capital account of this partnership business
consists of the partners profit credits, any remuneration paid to the partners, any addition
the partners’ capital accounts and any decrease in their capital accounts. This will help
