The Entrepreneur’s Marketing Source Inc Name: Course: Lecturer: Institution: Date: The Entrepreneur’s Marketing Source Inc (EMS) The Workbook Alternative In this strategy Brent, the owner of EMS, intends to create workbooks that he will sell to small and medium enterprises at a lower price.
In this alternative, there are certain advantages and disadvantages. Advantages The first advantage will be that if the business happens to work, Brent will have massive amounts of profits. According to the estimated profit, Brent is likely to make huge amounts of revenues. Additionally, this business does not require many expenses. Hence, Brent will be making enormous profits and at the same time, he will have the capital to expand. The second advantage is that Brent will enjoy the profits of the business alone. In the sole proprietorship, the owner of the business enjoys the profits alone. This means that there is no sharing of profits with partners like a partnership business.
The third advantage of the business is that Brent will be able to run his business the way he wants. In this case, he will not have partners who will make decisions that he does not feel they are good. The third advantage is that Brent is going to save a lot of time and money in the decision making and creating the workbook. This is because he does not need to wait for somebody for approval. Additionally, he does not want people to snoop into the enterprise secret records. Finally, this will be an original creation from what he has learnt. In this situation, he will have the advantage of creating loyal customers before the competitors come into the market. In addition, Brent will have time to modify his workbook with the current technology as the competitors are trying to reach where he would be.
Disadvantages The first disadvantage is that Brent will be devastated if his business of workbook fails to catch up. Despite all the work that he has put in the business, he will become depressed seeing that he has failed. Secondly, the burden of baring losses is left to him because he is the sole owner of the business venture. This will make Brent have a rough time considering that he is going to depend, on this business, to make money and maintain his family. The other disadvantage is that Brent will lose both his image and the company’s image when he fails to make it in the business. Already he has started well with the business.
In the course of running it, he has been able to earn respect of the society when it comes to marketing. However, if the business fails he will lose it all. Finally, by the time Brent is launching his workbooks the business venture might become out dated. As a result, it will be deemed to fail. Partnership with Imagine Alternative Advantages In this case, Brent has been offered by Imagine a design company a partnership proposal. This offer may look lucrative, but it has some advantages and disadvantages. The first advantage is that Brent is not going to bear the losses of the business alone. Such a case would be, as a partner will be bearing some of the losses Brent deals with when he is alone.
The second advantage is that Brent is going to acquire new customers easily because Imagine is an already established company, already with its customers. Therefore, he will not have to struggle looking for customers. The other advantage is that decision and duties are shared in the partnership. In this case, Brent will be helped to do some of the duty like designs that he does not know. In this case, most of his work will be made easier. Lastly, Brent will retain his business name.
This means that he is going to improve the brand name of his business. Disadvantages The first disadvantage of the partnership offer is that Brent will no longer have the privacy of his business. This is because he has partners who will require knowing what he is doing. Secondly, decision making in the business will be slowed down.
This means that some of the decisions that are made in the business will need consultation among the partners. Therefore, before they agree on one decision, some time will be lost. Thirdly, Brent does not have the opportunity to view the financial records of Imagine. This means that he will not have the opportunity of knowing some of the business secrets Imagine has. On the other hand, Imagine might be hiding something from Brent, and as a result, it might ruin his own business.
Finally, Brent will no longer have the opportunity to do what he wants. This means that he will not have much time to create the workbook. Recommendations The best alternative to this business would be to take the offer and become a partner with Imagine. The offer with Imagine is more lucrative as compared to the workbook venture because, one he is going to maintain the name of his business, EMS. In this case, the name of the business will continue to grow as he works with Imagine. Secondly, he is going to attain customers from Imagine who will continue to boost his business.
Thirdly, the risks involve are minimum because they are shared by him and Imagine as compared to the workbook where he bears all the risks alone. Finally, Brent can still work on the workbook during his free time while he is still in partnership with Imagine. On the other hand, it will slow him down in the workbook venture. However, that does not mean that he will not finish his workbook project. Therefore, based on the above analysis, the offer by Imagine is going to be the best alternative because it is going to improve both the brand and the name of Brent.
Secondly, this opportunity looks more promising in the sense that it will be killing two birds with one stone.