COMM 103 Chapter Notes - Chapter 15: Organic Growth, Profit Margin, Skill
12 Feb 2015
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Document Summary
Entrepreneur refer to a person who starts a business and is willing to accept the risk associated with investing money in order to make money. Six phases associated with venture analysis: market, value, financial, operations, management competency, and exit options analysis. A key to this assessment lies in the identification of fatal flaws that could derail a venture in its early stages. Inadequate pricing under-capitalization: weak management competencies insufficient marketing research poor industry assessment absence of well-focused execution strategy. The less an existing business and its structure can be leveraged in support of the new opportunity, the higher the uncertainty. A franchise is a business model under which business owners share a common brand and operate through a defined business framework. Business plan: rules of the road: know your customer, know why you will win, know how you will win, know what it will take to win, demonstrate why others should believe in you.
