Starting a Small Business
Goal
"To increase our brand recognition" is an example of
The decision to buy or lease equipment should be
A team decision
Is NOT suggested to prevent groupthink
Avoid members with dominant personalities
What is the first and primary question you should ask yourself before starting a small business?
Do I have what it takes?
Experience
NOT one of the considerations to determine if you "have what it takes" to start a business
Development calendar
NOT one of the key elements of a business plan
Increase
Site locators do this to your ability to promote your business and be successful
Mission statement
The clear, broad statement describing the purpose of a business is known as
Groupthink
The phenomenon demonstrating individuals' desire to get along and avoid conflict
When conducting a market analysis, you should forecast the next
Three to five years
When starting a new business, you should be prepared for?
Twelve-hour workdays six to seven days each week
Learning-based
business structure that works great for small businesses
description of family
not a management profile
Secretary of State
office where you register your business name
Objectives
term for specific, time-sensitive accomplishments used to measure the short-term progress of an organization
Marketing and sales
the section of the business plan that discusses how you plan to enter the industry and grow your business
Market analysis
the section of the business plan that identifies a target market
Service and/or product line
the section of the business plan that should be the bulk of the plan
Networking
the type of market test engages the snowball effect
Hierarchical
this structure adopts the chain-of-command methodology
