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Bus 521

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Description of MyVideoTalk

Dr. Craig Maddron
BUS 521: Entrepreneurship and Innovation
April 24, 2011

Description of MyVideoTalk
Hisrich, Peters and Shepherd (2010) define an entrepreneur as “an individual who takes initiative to bundle resources in innovative ways and is willing to bear the risk and/or uncertainty to act” (p. 6). An entrepreneur’s objective is to create a business opportunity for profit. An entrepreneur must identify and evaluate the opportunity, develop a business plan, determine the resources required, and manage the enterprise (Hisrich, Peters, & Shepherd, 2010). The purpose of this paper is to describe a new business venture, MyVideoTalk. This paper will introduce MyVideoTalk, discuss the market opportunity for MyVideoTalk, and discuss the market entry strategy to a foreign or domestic market for MyVideoTalk. The paper will also discuss the strategies for minimizing personal risk with MyVideoTalk.

Introduction of MyVideoTalk
The act of introducing a new business venture and its product and/or service is to unveil, debut, or launch it and summarize its purpose. MyVideoTalk is a division of Team Effort International, LLC. Team Effort International, LLC is a privately held, debt-free company with global offices in San Ramon, CA – USA, Northern India, Southern India, Dubai, and the Philippines. Team Effort International, LLC was founded in October 2002 by entrepreneurs, Mel and Amie Gill and the MyVideoTalk (MVT) division was created in April 2004. MVT has been extremely successful overseas in over 40 countries. MVT is brand new to the USA. MVT was pre-launched in the USA eight months ago and was officially launched in the USA at its national conference on April 16, 2011 in Las Vegas, Nevada. MyVideoTalk is an Internet focused company using its proprietary and state-of-the-art software for individuals and businesses to communicate…...

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