Miller hopes to start his own business someday. He should not talk to other small business owners about his plans because they might steal his ideas True or False True False
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- Note the quotation from the extract below and discuss the various methods of generating ideas entrepreneurs who have closed their start up can utilise to "Bounce back" using your OWNexample to support you discussion. “The pain of closing a business can overwhelm founders, whose identity is intertwined with that of their venture. Failedfounders wonder what they’ll do next—are they employable? Adding to their worries, their personal finances may be inshambles. Most entrepreneurs cut their own salaries as their venture goes into decline, and many have invested theirlife savings in the startup—along with funds from friends and family.It is more likely that an entrepreneur will get new business ideas through weak-tie rather than strong-tie relationships. Select one: OTrue FalseTrue or false?
- To make a “bulletproof” business plan, some mistakes must be avoided, and the following must be done:❖ Think through the business idea. You might have a great idea, but have you carefully mapped out all the steps you'll need to take to make the business a reality.❖ Do your research. Investigate everything you can about your proposed business before you start writing your business plan--and long before you start the business.❖ Research your potential customers and competitors. Is your product or service something people really want or need, or is it just "cool"? Study your market. Is it growing or shrinking? Could some sort of disruptive technology or regulatory change alter the market in fundamental ways? Why do you think people will buy your product or service? If you don't have any customers or clients yet, you'll need to convince investors that you have something people really want or need, and more important, that they'll buy it at the price you expect.❖ Get feedback. Obtain as…1. Could writing a conventional business plan ever cause more harm than good? Explain your answer?2. If you wanted some assistance in setting up and running a new business, you might look at business incubators as a solution. What kind of assistance would you consider the most valuable?3. Given the risks involved in starting any company, should an aspiring entrepreneur investigate all possible failure scenarios and develop action plans to avoid these potential outcomes? Explain your answer.4. How do autocratic, democratic, and laissez-faire leadership styles differ?5. Ethical considerations. Apart from meeting the company’s future talent needs, do managers have a personal ethical obligation to help their employees develop and advance in their careers? Explain your answer.6. What are the advantages and disadvantages of the unstructured organizational model?7. Suppose you are the marketing manager of the credit-card department of a financial institution. Your objective is to support the…Evaluate Xhale’s idea and Vestagen’s idea on all four dimensions of an opportunity. Rank each idea on a scale of 1 to 5 (5 is high) regarding how strongly it satisfies the four dimensions.
- What is an MVP? Why developing an MVP is a very important activity for a startup? For your proposed business idea, what is the MVP that you need to develop? What are the success factors of the MVP?Tony is a whiz in the kitchen. Not only does he make great food but he has invented about a dozen time-saving kitchen gadgets along the way. These are all home-made inventions made either by using new materials or by modifying existing gadgets to work in new, better ways. He has made duplicate gadgets for friends and some say they use the gadget every day. Tony quit his construction job to concentrate on his kitchen gadgets-he started his own company, Kitchen Helpers. When deciding on your target customer, try to minimize customers is usually more valuable than trying to find and attract new ones. churn pivot because keeping existing segmentation inseparabilityAnswer the following questions, thoroughly. 1. What is the disadvantage of unanticipated means of generating business ideas?2. How may the best business idea be determined? 3. List down at least three business ideas which you think has the potential to succeed, if adapted. Why do you think it has the potential to succeed?
- Is starting a buisness a good idea?Like Nzambi Matee, think of a business idea that has the potential to succeed. Provide a detailed explanation of this business idea, including details of how the idea was generated and how the feasibility of the idea was determined.Can you assist me with this problem. If possible can you write it out it is easirer to follow along. Thank you