Small Business Discussion
Discussing ideas and plans for starting a small business
Situations
Choose from 6 conversations to practice
Brainstorming Initial Business Ideas
Participants are freely sharing and discussing a wide range of potential small business concepts, exploring different industries and niches.
Discussing Target Market and Customer Needs
The group focuses on identifying potential target customers for a chosen business idea, analyzing their needs, pain points, and preferences.
Evaluating Startup Costs and Funding Options
Participants estimate the initial capital required for a chosen business idea and discuss various funding sources like personal savings, loans, or crowdfunding.
Developing a Marketing and Sales Strategy
The discussion shifts to how to reach customers and generate sales, including online presence, social media, pricing strategies, and promotional activities.
Defining Roles and Responsibilities
If multiple individuals are involved, this situation focuses on assigning specific tasks, roles, and outlining the division of labor within the potential small business.
Addressing Potential Challenges and Risks
The group discusses foreseeable obstacles, market risks, legal considerations, and how to mitigate them to ensure the business's sustainability.