Questions and Answers of Entrepreneurial Small Business

2. What are the advantages and disadvantages of renting and not buying equipment, owning facilities, and employing staff? Are there other advantages to being a virtual business?
1. What are the costs of inventory that Cameron Hughes is and is not incurring?
What types of other financing are available for small businesses?
What other programs are available for women or other underrepresented groups of entrepreneurs? For entrepreneurs in general?
Why do you suspect that few women entrepreneurs are reaching the $1 million mark?
3. What can small businesses do to protect their cash when lending is tight?
2. What incentives could be used by small businesses to prevent cash flow problems?
1. Why is cash flow important to a small business?
How important is the factor of location to this type of business?
2. What other components should HomeMade Pizza consider when selecting a location other than a high traffic area?
1. Would HomeMade Pizza be as successful in an area that had little to no foot traffic? Explain your answer.
3. How can Radioparadise.com and MooShoes use publicity?
2. How can antipreneurs use contemporary marketing approaches to reach their target audience?
1. What is MooShoes’ value proposition?
Why would branding be important for Captain Lawrence and Samuel Adams?
Using Exhibit 9.1, how would a small brewery such as Captain Lawrence rank versus a large brewery like Anheuser-Busch with the developing craft beers?
Where would beer be on the product life cycle? How about craft beers?
In terms of focusing the business plan, what would be the focus of Greenware’s business plan out of the four situations?
3. Write a potential elevator pitch for Greenware. (You may invent details not given in the video.)
2. Why would a business need an elevator pitch?
1. Why are business plans important?
5. Can you envision another type of service that could work using the Blue MauMau model?
4. How can a site like Blue MauMau be beneficial to those already in business and those looking to enter a franchise business? Could the site also be beneficial to start-ups and existing businesses?
3. What is the difference between a start-up business and a franchising business?
2. When researching a potential franchising opportunity, what should the researcher do to determine if the opportunity is good?
1. What are the advantages and disadvantages to franchising?
3. Assuming Magno-Grip started as a part-time venture, which of the five major categories do you feel Magno-Grip would best start in? Why?
2. What recommendations would you make to balance the day-to-day business with the fund-raising?
1. What bootstrapping techniques did Andre Woolery use? What other ones could he use?
5. Use SCAMPER to help Fraser come up with spin-off ideas for Super Jam.
4. Should the commercial buyers of Super Jam have conducted a pilot test before purchasing a large inventory? What would be the advantages and disadvantages?
3. How did Fraser test the feasibility of Super Jam?
2. Do you think Fraser Doherty displayed entrepreneurial alertness? Explain.
1. What method of coming up with an idea did Fraser Doherty use? How did he use SCAMPER to come up with a particular niche?
What elements of charitable team building differ from traditional team building exercises such as games?
Should a small business with only two people invest time in team building activities? Explain.
Why is team building important?
Give an example of a company that could integrate social responsibility.
3. Would the Greyston model work well for other companies?Explain.
2. What key concepts make Greyston Bakery socially responsible?
1. Name the ways that Greyston Bakery is important to the economy and its community.
4. Some folks would say the solution to balancing the four bottom lines is to never sleep. How do you think Joe Shaughnessy would respond? Do you agree with that approach for yourself?
3. How did Joe use the business to promote beliefs he felt were important?
2. Did Joe balance with the four bottom lines at the same time, or did some come before others?
1. How did Joe Shaughnessy seem to do in achieving the four bottom lines?
What additional recommendations would you make to Hoessle if he needed to bring in new employees, especially as the adventure travel industry begins to heat up?
In what ways has Hoessle been able to reward employees despite slower growth and having to cut costs throughout the small business?
How do you think this style motivates and retains key staff and employees?
How would you characterize Hoessle’s open-book management style?
3. What would be the arguments, pro and con, for hiring a professional roofer to do the roof repairs on the house?
2. If one of Theresa’s employees causes damage to Elmer’s property while doing his job, would it matter what business structure Theresa has in terms of what Theresa could lose?
1. If Theresa’s personal negligence, not that of an employee, causes damage to Elmer’s property, will it make any difference what her business structure is in terms of her personal liability and
5. Will the House of Wine face much in the way of accounts receivable problems? Why or why not?
When thinking about the House of Wine’s inventory, will it make any difference that some inventory is time-limited (i.e., can spoil), other parts of it are seasonal, and some can be sold or held
What milestones in the House of Wine’s operations do you think should occur in order to signal when a different approach to inventory might make sense?
How would you recommend they pay for the inventory?
Use the information from this case, Case 9, and your classroom discussions to create a detailed inventory management program for the proprietors.
From this experience, what recommendations would you make to Richard Harris to do an even better job of preparing for future hurricanes?
What actions can Richard take now to manage the risks you mentioned above?
What do you think are the two greatest risks facing Richard Harris’s business? Why?
Many real estate investments or projects are of a much greater magnitude than those in this case. How would you go about organizing and financing a project that required an investment of say $300 to
What are the typical cash flow problems that people in real estate rentals face? How can Greg, Chris, and Nancy prepare themselves to meet these?
One adviser mentioned putting aside a portion of their money for working capital. How much would you recommend they put aside? On what do you base your suggestion?
Given their starting funds and loan opportunities, how large a real estate deal can they handle their first time out if they go the bank loan route?
Greg, Chris, and Nancy could do their real estate rental business strictly self-financed or with bank loans.Which do you recommend and why? What are the monthly financial obligations under each
Given the history of the company, is it possible for Brett to come on board, earn a living, and successfully grow the company? If so, how?
Using the above statements, provide specific recommendations that will alleviate Nate’s cash flow problems.
What specific goals and standards of performance would you recommend for the new managers? What control process or audit system would you include for follow-up purposes?
Use the information provided along with any assumptions you wish to make and construct a balance sheet and cash flow statement. Analyze those data.
As a first step, conduct a financial analysis of current operations by reformatting the income statement to include individual product lines as well as the total company. Analyze those data.
Given the particulars of this case, develop a list of the five best target market groups and the distinct features of the “4Ps” for each of those groups.
Develop a complete short marketing plan for this company. The goal of the plan is to increase capacity to as close to 100 percent as possible.
Select a specific business or industry that you may become a part of; how would you incorporate the technological aspects described in the text into your day-to-day operations?
How can the principals use technology to achieve success in their new venture? Be sure to address each of the major categories presented, i.e., purchasing, transportation, operations, distribution,
How should Herbie and Mei go about figuring the right mix of using their own trucks and using independent trucking companies?
Does its site selection make sense for the kind of business S & Z plans to pursue?
What model for distribution does S & Z plan to pursue?What does its distribution channel chain look like?
How can Donald entice his customers at the big textbook publishers to use Carter instead of cutting their own deals with Asian typesetters?
What strategy would you recommend Donald take to solve this business problem? Why?
How would you describe the problem the Carter Company is facing? What is causing it?
Prepare a time line of strategies and actions that will help the principals achieve their short-, medium-, and long-term goals.Fred and Larry Butts are excited and a bit nervous about their new wine
Given the market and product line options for this new business, what kind of pricing strategy do you think makes the most sense for the business?Fred and Larry Butts are excited and a bit nervous
Fred and Larry raised several issues regarding the product mix for their business. What product strategy do you think makes the most sense for The House of Wine? Why?Fred and Larry Butts are excited
Would this pitch be equally effective with the four audiences mentioned (investors, suppliers, customers,Randy Bunge grew up in his grandfather’s family business, inspecting paint jobs for a market
Using the description of the elevator pitch given in Chapter 8’s “How to Write Your Elevator Pitch,” evaluate this pitch. How does it do on the four parts of the pitch? How could it do
Having now developed a tactical plan, what are the major challenges facing Juan if he were to go forward with your plan? Include a SWOT analysis as part of your assessment.Juan De Jesus, of San
Using that best plan, return to your original group and develop a tactical plan for Juan.Juan De Jesus, of San Antonio, Texas, earned a computer science degree from The University of Texas in
Form small groups and brainstorm and develop a strategic plan for Juan. Compare and contrast each group’s plan and gain consensus as to the best.Juan De Jesus, of San Antonio, Texas, earned a
Given the economic outlook in the Denver area, the land and physical plant, and the competition, what short- and long-term operational and growth strategies would you consider?Three generations of
Use your entrepreneurial skills to evaluate this investment opportunity. Is this a business worth buying? If so, why? How much would you be willing to invest? Why?Three generations of Grandes have
Do you see yourself taking a route similar to Lyle’s?Could you do it? Will you do it?Lyle Wong has been carrying a briefcase everywhere he goes since the age of 12 and has always been glad to let
Trying to start up a part-time business while being a full-time student in college could pose some problems for Lyle. What are the ones you think are most likely? How could he minimize their
Help your colleague. You are familiar with the resources available to students on a typical college campus. Consider those resources and Lyle’s goals, and develop a short list of the best products
Do you believe that Lyle can achieve his goal of earning $1,000,000 by graduation? Why or why not?Lyle Wong has been carrying a briefcase everywhere he goes since the age of 12 and has always been
Business ideas are easy to come by. The more difficult task is determining the feasibility of business success.How would you go about doing that? What kind of information does Bud need in order to
Should Bud consider purchasing the printing and stationery business, and if so, what do you see as his goal for the business, especially how could he expand production and sales given the limited
Use your imagination and creativity along with the information provided to identify a short list of the best opportunities for Bud to consider.Bud Collier grew up “smack in the middle of a 100
Are there any conclusions you can draw about there being an entrepreneurial personality type for the real estate business? What does it say about the kind of entrepreneur you can become with the
What kinds of competencies do you see these real estate entrepreneurs bringing to their business?The one sure way to make money in Memphis, Tennessee, has always been through real estate, but the
What role in their development as entrepreneurs would you think special conditions had—for example, Abe being African American, Lee being a female in a male-dominated industry or working within a

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