Eco561 Will Bury Business Proposal
- Submitted by: hardlylooking
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- Category: Politics: Economics
- Date Submitted: 10/18/2010 10:06 AM
- Pages: 5
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As a visionary, Will Bury is convinced that people will be primarily reading and listening to everything by means of a digital format in the very near future. As an inventor with a promising outlook, Will knows he is on the verge of success and substantial wealth. He has developed and patented a proprietary technology that increases the amount of time it takes to transfer printed word into audio. This technology digitizes words and creates a file which offers options for reading material digitally or listening to a synthetic, inhuman sounding voice.
Will currently holds a full time job at High Tech Digital Industries that pays him $200,000 per year salary plus a benefits package. He makes a good living and is able to sufficiently support his family with his earnings. After working all day Will goes home and immediately goes into his garage to work on his digitizer. Unfortunately, he has been spending so much time on the invention that he has been neglecting his family’s needs. Including missing multiple soccer games his daughter has played in. He understands that his family’s needs come first but also knows the earning potential of his invention would make the family very comfortable. With that in the forefront of his mind, Will must make an important decision as to whether or not to leave his employer in order to pursue his dream full time.
When beginning a new business, an entrepreneur needs to make sacrifices. Unfortunately his family happens to be that sacrifice. Assuming his wife is not working, he should employ her help in getting the business started. She can begin by simply digitizing the books while he is working at his full-time job. That will free up some much needed time to spend with his family.
Revenue
Will has set up a website to sell his small catalog of digitized books. He has access to free books that are out of copyright and charges $10 for those books. Books still in copyright go for $15 on his website which includes a $5 royalty fee...
Will currently holds a full time job at High Tech Digital Industries that pays him $200,000 per year salary plus a benefits package. He makes a good living and is able to sufficiently support his family with his earnings. After working all day Will goes home and immediately goes into his garage to work on his digitizer. Unfortunately, he has been spending so much time on the invention that he has been neglecting his family’s needs. Including missing multiple soccer games his daughter has played in. He understands that his family’s needs come first but also knows the earning potential of his invention would make the family very comfortable. With that in the forefront of his mind, Will must make an important decision as to whether or not to leave his employer in order to pursue his dream full time.
When beginning a new business, an entrepreneur needs to make sacrifices. Unfortunately his family happens to be that sacrifice. Assuming his wife is not working, he should employ her help in getting the business started. She can begin by simply digitizing the books while he is working at his full-time job. That will free up some much needed time to spend with his family.
Revenue
Will has set up a website to sell his small catalog of digitized books. He has access to free books that are out of copyright and charges $10 for those books. Books still in copyright go for $15 on his website which includes a $5 royalty fee...