quiz 2 chapter 6 Flashcards
1
Q
What in it me if I launch a new venture
A
- great financial success
- independence
- flexibility
- challenge
- survival
2
Q
Funding options for small business
A
- personal resources
- loans
- angle investors
- venture capital
3
Q
Opportunities for small businesses
A
- market niches
- personal customer service
- lower overhead cost
- technology
4
Q
threats for small businesses
A
- high risk of failure
- lack of knowledge and experience
- too little money
- bigger regulatory burden
5
Q
3 Launch options
A
- starting from scratch
- buying an established business
- buying a franchise
6
Q
Pros to starting a business from scratch
A
- its all you: your concept, your decisions, your structure
- you don’t have to deal with the prior owner’s bad decisions
7
Q
cons to starting a business from scratch
A
- pressure
- hard to get credit
- logistics of starting are challenging
- time, money, and sheer sweat
8
Q
pros to buying an established business
A
- concept, structure and operating practices are in place
- relationships are established
- obtaining financing is less challenging
9
Q
cons to buying an established business
A
- working with someone else’s idea may not be fun
- you may inherit old mistakes
