Questions:
1. Could someone with moderate industry-specific knowledge but low competency in business skills be successful as an entrepreneur in a start-up enterprise in that industry? Why or why not.
2. Are all good ideas profitable business opportunities? Why or Why not? How can entrepreneurs evaluate the merits of a new idea?
3. Discuss the differences and/or similarities between small businesses and high-growth ventures.
4. Discuss the differences between using cost-based and value-based benefits strategies. Support each type with business examples.
5. Small business opportunities are either product or service-based. Your university education comes pretty close to being a true service. Discuss the four main characteristics of a service-based business as they pertain to a university education.
6. What is market segmentation? Describe how you would go about targeting markets within a market segment.
7. How can a small business use CRM (Customer Relationship Management) techniques to increase sales?
8. Discuss the "4 P's" of marketing and how these concepts can assist you in marketing your business concept.
9. Discuss some models and techniques that are available to entrepreneurs and small business owners to assist them in conducting their businesses ethically?
10.Locate your state's Secretary of State home page on the Internet. Find information on forming LLCs. Answer the following questions and sate the name of the state.
A. Can the form be submitted online? If not can the form be downloaded or filled in using a computer?
B. What is the fee for filing the initial application and the subsequent annual filing fee?
C. Do you believe that you would need to hire a lawyer to complete this form or could you do it yourself? Why or why not?
D. After having viewed the Secretary of States site, discuss any recommendations would you make to facilitate the business formation application process.
11. If a start-up entrepreneur lacks certain competencies such as understanding cash flow or not knowing how to use social media marketing techniques, discuss at least three strategies the start-up entrepreneur could use to compensate for his or her deficiencies.