It is about business ideas. Take a look at some business ideas on this site and consider what type of company you would like to begin. Suggest an idea for the team and provide some rationale for why this company might be a great idea such as an estimate of a TAM, or a listing of the market competitors and why they aren’t providing sufficiently for consumers, or identify and unaddressed market need by describing something that consumers say they would like to have but cannot find with some supporting evidence.Describe the following for your idea:1. Problem you will solve with your company2. business definition3. Target customer and market size4. Service or product portfolioWork will be a minimum of 300-400 words or 3 paragraphs and should include insights and concepts from the week’s reading. While you may be asked to provide an opinion, your position must be supported by evidence. Each initial post will have at least 2 references (textbook and another independent source). Also, cite your sources (APA 7.0 ed).PROFESSOR’S GUIDANCE FOR THIS WORK:Keep in mind that you are about to embark on a journey of composing a business plan that provides business services to its clients. Be aware that your company must be expandable to large volumes to be of interest to future investors. Try to avoid a company that could be a “lifestyle” company with small or little growth potential.