1
Entrepreneurs have many unique character traits that distinguish them from regular employees.
a) how do these character traits help entrepreneurs navigate the challenges in starting a business? Be specific in discussing.
b) how do the different motivators of entrepreneurs help them in starting their business? Be specific in discussing.
2
Value creation is one of the most important aspects of owning a successful small business. What benefits accrue to businesses using a focused value proposition? What is the result of not having this well-defined? How does total customer experience help create value both perceptionally and realistically?
3
Why is having an effective business model so important in the success of a new business?
4
Many businesses have several different versions of their business plans. Explain the rationale behind this and why it is important to the entrepreneur to do so. Please give a couple of specific examples
5
Business location is one of the most important aspects of starting a business. Discuss a local business with a good location and one with a bad location.
6
Why is it especially important for a small business to operate with integrity? How does the internet and social media influence integrity in small businesses?
7
Compare and contrast starting a business versus buying an existing business. What is your perspective on using a franchise model for the business?
8
In what ways does market segmentation benefit small businesses? How does the intersection of the marketing budget – and how we arrive at that budget – and market segmentation affect our marketing plan and approach?
9
How do the results of the SWOT and PESTLE analysis inform our marketing approach? Give some specific examples from each to illustrate your point.
Sample Solution
