Bus 200 - Business Fundamentals

BUS200

Business Fundamentals

Professor: Sam Thiara

Topic: Business I wanted to start

Student Name: Rajansahb Singh Khinda

Student ID: KHIRD1601

Khird1601@learning.fraseric.com

Date: July 13, 2016

It was great experience doing the presentation on “the business I would like to start” and the topic that I selected was “an event organising company” and the name of my company is “The C Company”. Basically, the reason I selected this topic was my passion towards parties, anchoring and stuff like that and a person can only be successful in his profession if he/she likes what he/she do. The other reason for starting this business is that my cousin and his friend were already in this business and for me it was easy to start with them as they were experienced and there was less risk factor for me. Doing presentations like the one I did last week is best way to be a good leader as you need to convince people to invest in your business and to market your product. In my business of event organising one need to have widespread links with people of all age groups because then only you can attract people to come to your events. This business is easy to start as you don’t need to have tonnes of money and you can even start it with no money because you can barter for the things you need, for example, in event organising you can provide free tickets in exchange of service provided by other enterprises. Other best thing about this business is that you can use your personal knowledge and experience and can market your stuff on social media. The most complex task for an event organiser is to set adequate price for the tickets because this will make you different from other competitors. The reason why I selected doing event organising instead of club parties is because these parties are organised in party halls where there is less competition but in clubs, competition is immense and you can’t survive in that environment because to survive in clubbing business you need to have goodwill and reputation. So, starting in this kind of business is more relevant and is best for the starters. For all these relevant reasons I find this business interesting and better than any other business as this can be even started by a person new to business industry. The other thing I learnt by giving this presentation is that you need to be in good relation with the society to do good in any kind of business as it increases your goodwill and helps you to get better name than your competitors. I also learnt to respect your partners even if they are not doing so well, the thing you can do is motivate them and help them to bring good outcomes for your company as APJ Abdul Kalam rightly said, “A good friend is not who tells that you are wrong, a good friend is that who corrects you and help you to succeed in your life”. To conclude, I would only like to say that it was a great experience as a whole and will help me a lot in my life as this practically applies to our day to day life.