The
purpose of Task 6 is to re-assess our project from the feedback which was given
from the investors. This feedback was critical in assessing our business to see
where we could improve and it also highlighted the strengths and our
weaknesses. The overview feedback for our business outlined that we only
briefly explained what its function was that our business was selling and that
we did not explain why we had advantages over our competitors.
The
SWOT analysis review showed that we did not explain how we could overcome our
weaknesses or threats to the business; also we didn't show how our strengths
would benefit to the business, which would encourage investors to invest in our
project.
Our
budget could have been a lot more realistic where it did not show the proper
figures and the cost of our business legitimately. One part that we our
business left out were that we didn't take into consideration of the other
costs that will incur and how they will generate revenue for the company.
Our
promotional campaign however did not show any new exciting ideas, which would
grab people's attention over other businesses, which this would lead to a
failure of investors investing in our business. The ways we were going to
promote our business was through the media, brochures and our own website, however
this wasn't appealing to the business investors and it seemed that it wasn't
going to promote the business the way it should be.
After
reading the feedback from the investors we were able to change information
regarding the above headings so we could create a more sufficient and viable
business to the public. This was a good way to learn from our mistakes and to
take into consideration of what others thought of our project proposal. It also
highlighted our limits and where we did not do enough research on presenting
our business to the investors.
