Will Bury
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Running head: Will Bury Scenario
Will Bury Scenario
ECO/561
8 March 2010
Jack Karczewski
Abstract
Will Bury wants to quit his current job and own his own business. Will wants to digitize books because he thinks this is the direction technology is leading books. He has several decisions to make on how to complete this business venture and make it successful. Will is trying to do this and still holding down a full time job to provide for his family. Doing all the work alone is causing Will to miss out on a great deal of family functions. This is causing Will to wonder if the business is actually worth all his time. Other decisions that Will must make about his business are whether or not to hire someone, what books should he digitize, how much should the books cost, and how will he make a profit. I will use this paper to discuss how Will Bury can accomplish his goal of becoming an entrepreneur.
Will Bury, an enterprising inventor thinks that everyone will be reading or listening to everything digitally especially books. Will has developed and patented technology that would make this process faster. Will knows he will have to pay a royalty fee of $5 per title for copyrighted books. Will is trying to run his business while maintaining his job at High Tech Digital Industries. He recognizes at this present time he needs this income and his benefits to keep his family comfortable until his business improves. He knows that he will eventually have to quit his job so that he can devote more time to his business as well as his family. Will has been doing all the work himself and knows this is can be done faster if he would hire someone to help. He also knows this is a waste of his time. Will knows this and is struggling with how to run his business effectively. Will must decide how to increase revenue, achieve ideal production levels, how fixed and variable costs should be adjusted to maximize profit, and identify methods to reduce...
Will Bury Scenario
ECO/561
8 March 2010
Jack Karczewski
Abstract
Will Bury wants to quit his current job and own his own business. Will wants to digitize books because he thinks this is the direction technology is leading books. He has several decisions to make on how to complete this business venture and make it successful. Will is trying to do this and still holding down a full time job to provide for his family. Doing all the work alone is causing Will to miss out on a great deal of family functions. This is causing Will to wonder if the business is actually worth all his time. Other decisions that Will must make about his business are whether or not to hire someone, what books should he digitize, how much should the books cost, and how will he make a profit. I will use this paper to discuss how Will Bury can accomplish his goal of becoming an entrepreneur.
Will Bury, an enterprising inventor thinks that everyone will be reading or listening to everything digitally especially books. Will has developed and patented technology that would make this process faster. Will knows he will have to pay a royalty fee of $5 per title for copyrighted books. Will is trying to run his business while maintaining his job at High Tech Digital Industries. He recognizes at this present time he needs this income and his benefits to keep his family comfortable until his business improves. He knows that he will eventually have to quit his job so that he can devote more time to his business as well as his family. Will has been doing all the work himself and knows this is can be done faster if he would hire someone to help. He also knows this is a waste of his time. Will knows this and is struggling with how to run his business effectively. Will must decide how to increase revenue, achieve ideal production levels, how fixed and variable costs should be adjusted to maximize profit, and identify methods to reduce...