Business Essentials, 12/e

Building a Business: Continuing Team Exercise

Assignment

Meet with your team members and discuss your new business venture within the context of this chapter. Develop specific responses to the following:

1. 3-11. To what extent do each of you really want to be an entrepreneur?

2. 3-12. For the specific business you are starting (in this exercise), does it make more sense to start from scratch, to buy an existing business, or to buy a franchise? Why?

3. 3-13. How will you most likely finance your new venture?

4. 3-14. What factors will most likely contribute to your success? What factors might cause your business to fail? Is there a way to minimize or eliminate these risk factors?

5. 3-15. What form of ownership will your group use? What are the advantages ...