Professor Elam

Thursday Nov 11 2010

Here are some great off the wall ideas! Yept start your own business in an off beat niche. The key here is of course to find a business where

there is a real demand

the demand is not currently being met

the business has some longevity (for example, the fiero business is probably a ten year deal at best but he should find other niche cars in the mean time)

The ideas we study in managerial accounting are the foundation for such an enterprise, like break even and budgeting and standard costing.