Chapter 21 Flashcards
1
Q
What is the average time of business plan development
A
200 hours avg
2
Q
What are best sources of inputs for business
A
- Internet
- SBAA (small business association in America)
- AMA (American management association)
- Consumer points
3
Q
What are 3 levels of needs of a person
A
1- Basic Needs
2- Psychological needs
3- Wants
4
Q
What are 2 characters in entrepreneurship
A
1- Entrepreneur
2- Venture capitalist
5
Q
What is backbone of business
A
Business plan
6
Q
Who reads business plan
A
- Technical mentor
- Family and friends
- Financial stakeholder
- marketing people
7
Q
What are 3 important things in a business plan
A
1- Viability
2- Security
3- Financial calculations
8
Q
What are 4C’s of evaluation for lenders
A
1- Character
2- Cost
3- Collateral (money guarantee)
4- Contribution
