Starting a Business
1. The gap in the market that KieAnn Brownell discovered was that nobody used to sell cakes online, and after some research she came to the conclusion that cakes were in high demand. She then opened up a business. She created a website which allowed people to order cakes online. Her pages views went from 600 62000 viewers, which means that by discovering this gap, she created a succesful organization.
2. Not 100% recession proof means that during a recession the company has a high percentage of failing or their sales drop drastically because the bank is more hesitant in giving money to companies which are considered to be luxuries, such as high fashion clothing companies. The bank during a recession only gives money to companies that produce useful things (things we need everyday ), like food ecc. In this case the system that is GoCakeGo uses is not essential in our lifes and it is also luxurious, this is why the money won't give any money. The costumers during the recession. One of the problems that would occure if a recession takes place is that the costumers worried because of this factor buy only they need and not what they want. So markets that concentrate on wants risk a drop.
3. There are various steps that KieAnn Brownwell had to take to make her business succesful and some of them are quite important.
The fisrt step is having the idea, in this case she knew that there was a already a market sending cakes to kids at school and she also had the knowledge that 5000 people searched on the internet for birthday cakes every day. A good idea is supported by data, everybody has a bithday every year and everyone likes cakes because it insipres celebration. This is why she found out that the potential of this market is enormous. Step three is that she didn't invest on the product but found someone that produced for her, she looked for wholesale bakers that could bake the cakes for her. A smart thing is that the business runs the...