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You are a consultant that Carlos Rodriguez is considering hiring to guide him through the process of starting his business. Since you have a broad business background, you are going to write a business memo to Carlos Rodriquez outlining the different areas of business that he would need to consider to successfully open the business. Use the following business memo format to Carlos and not about Carlos. Thoroughly answer the ten (10) elements below the format using the course materials and the case scenario facts. Do not use external sources to complete this project.
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Business Summary– This is a one paragraph overview of the current situation of the client as you see it. This is the foundation of the memo to make sure you and your client are both viewing the situation the same. Make sure to provide an overview of the main topics.
Situation Analysis and Recommendations – This is where you address the following requirements using the course materials and the information from the case scenario. No external sources can be used.
- Discuss how Carlos can determine if he is an entrepreneur or should be a small business owner.
- Explain how Carlos should decide how much capital is needed to start the business.
- Assuming Carlos will eventually need financing, discuss the financial statements Carlos will need.
- Discuss the best form of business Carlos should set up and explain why.
- Explain why the other business forms would not work well.
- Discuss the role Julio should assume in the business and explain whether this decision affects the form of business Carlos sets up and explain how so.
- Explain specific types of marketing the business should pursue.
- Discuss whether Carlos should hire help and if so, what position(s).
- If help is hired, explain who will manage them.
- Explain the best ways for Carlos to motivate his employees if he chooses to hire employees.