Include a checklist with each factor of production listed and described: Labor: Name the people who will work with you in the shop. Capital: Identify the funds needed or secured to start up the shop. Entrepreneur ownership: Indicate whether you will start up and operate the shop alone or have a partner. Natural resources: Name the tangible resources needed to operate your shop. Determine if you will only serve ice cream or also serve grilled food such as burgers and hot dogs. Information resources: Describe the knowledge or expertise possessed by the people involved in your business, along with any relevant market data you might use to help determine expenses, pricing of products, and pay for employees.
Checklist:
1. Labor:
- Name the people who will work with you in the shop.
2. Capital:
- Identify the funds needed or secured to start up the shop.
3. Entrepreneur ownership:
- Indicate whether you will start up and operate the shop alone or have a partner.
4. Natural resources:
- Name the tangible resources needed to operate your shop.
- Determine if you will only serve ice cream or also serve grilled food such as burgers and hot dogs.
5. Information resources:
- Describe the knowledge or expertise possessed by the people involved in your business.
- Identify any relevant market data you might use to help determine expenses, pricing of products, and pay for employees.