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entrepreneurship theory process practice

Questions and Answers of Entrepreneurship Theory Process Practice

Describe the features of each product listed below and then create a benefit statement for each that you would use as selling points.Product wristwatch with daily-events calendar milk-free chocolate
Contact your telephone company-either by phone or through I nternet resea rch-to find o ut how to set up an 800 number for your b usiness, so customers can call toll free. Some long-d istance
Provide superior c ustomer service.
Explain the importance of selling based u pon benefits.
Perform each of the tasks d escribed below and record the i nformation on a separate piece of paper.C a rry out a search o nline for the name you intend to use for your business. What did you
Why do you think people might enjoy working for Salomon in the corporate office?
Why would an inventor sell the rights to an idea?
How was FASTSIGNS's growth financed?
How did the founders finance the start-up of FASTSIGNS?
What are some of the keys to Salomon's success with FASTSIGNS?
How did Gary Salomon exploit an opportunity to start FASTSIGNS?
What challenges and set-backs has Sandra overcome?
When, if ever would you advise Sandra to approach mainstream lenders?
What factors made Sandra's company a business that did not qualify for mainstream financing (specifically discuss the C's of credit)?
Why did Sandra Nieto tum to microlending as a source of capital for his business?
Visit a local bank and ask about its commercial lines of credit.Have the banker explain the terms to you and what a small start-up venture would have to show to qualify for a line of credit. Report
Visit the SBA Web site at http://www.sba.gov. Find four possible funding sources for a computer rental and repair company. Describe the pros and cons of each and create a proposed financing mix,
Visit http://www.privacyrights.org/fs/fs6-crdt.htm to learn about your rights to financial privacy, and then answer the following:• Who has access to your credit reports?• What information cannot
If you currently subscribe to or use an online service, BBS (bulletin board service), or ISP (Internet Service Provider), discuss what you like and dislike about the service and why you chose it.
Calculate the annual amount of interest (assuming no principal repayment) for each of the following:Term loan of $ 122,000 over 15 years at 6.5%.Line of credit for $50,000 drawn 50% in one year at 1
Identify sources of ca pital for your business.
What would you ask the Holter family about the cash-managing aspect of Halterholm Farms?
Search for Community Support Agriculture on the Internet. Why might it be good for Holterholm Farms to have a CSA? What are the risks involved? Why would consumers be willing to pay for their produce
How can adding beef, eggs, and produce be beneficial from a cash flow perspective?
Why did switching to entirely grass-fed dairy cows improve Holterholm Farms'cash flow?
Visit www Business Owners Idea Cafe online and use the tool at http://.businessownersideacafe.com/financing/index.htm to figure out how much capital you will need to get your business off the ground.
Print the tax documents list available at http://www.ideacafe.com/bizforms/tax.html and highlight the forms that a C corporation producing glass bottles would need.
Figure out how much income tax each of the following individuals owes. The marginal tax rates are structured as follows:• income up to $42,350 is taxed at 15 percent;• income from $42,351 to
Describe what you think the seasonality scenario would be for one year for a business you can imagine starting. Explain how you think the cash flow would be affected over the course of the year.
Name three kinds of b usinesses that b ring in a lot of cash during part of the year and not much the rest of the time
Review the cafe's balance sheet. Explain why the net value of the cafe's property and equipment has decreased from$80,000 in month one to $64,000 by year's end.
Look at each section of the cafe's cash flow statement. Based on what you see, write a memo highlighting three reasons why this business is not succeeding.
What is the debt-to-equity ratio of the Portland Freelancers' Cafe?
Evaluate Amy and Steve's income statement for their first month of operation:a. Is the cafe operating at a profit or a loss?b. How many units above or below breakeven were sold?
List three things that Amy and Steve should have considered doing to adapt to the changes in the environment after their customers no longer wanted to pay for Internet services and expected the cafe
What do you think about the word boss?Would you rather be supervised by a person who is more of a teacher or mentor or coach than one who simply tells you what to do?
What is the risk in teaching employees how to read the company financial statements?
Why did Lorraine decide to involve her employees in the financial aspects of her business?
How do we know what others think of Lorraine and her business?
How did Lorraine finance the start-up of her business?
How can a person's life experience affect the way he or she manages people? Use Lorraine Miller's story to illustrate one example.
Use the Internet to find the balance sheets of two companies with which you are familiar. Use percentages to analyze these balance sheets, and compare how well each is doing against the restaurant
What would the profit margin for the year be in that case?
What would the profit before taxes be if the owner found a paper supplier that charged only $ 1 00,000 for the year?
Calculate the financial ratios (ROI and ROS) for the monthly and the yearly income statement. What do the financial ratios tell you about this business?
Given the following data, on a separate sheet of paper create monthly and yearly income statements for this fast-food restaurant in New York City:a. Sales for the month of June were $300,000. Sales
Using the restaurant balance sheet in Exhibits 8-7 and 8-8, answer the following:• What are the debt-to-equity ratios at the beginning and end of the 201 1 fiscal (business) year? Has this ratio
Using Exhibit 8-12, the balance sheet of Angelina's Jewelry Company at the end of July shown below, calculate all four financial ratios (quick, current, debt, and debt-to-equity) for the business.
Repeat the exercise from Key Concept Questions using accounting software. Then run the following what-if scenarios and create graphs or other visuals showing how each would affect the business's
Using the balance sheet for the restaurant in Exhib it 8-7, calculate the quick, d ebt, and debt-to-equity ratios. Write your a nswers on a sepa rate sheet of paper. What do the ratios tell you a
Perform same-size (common-sized) analysis of an income statement.
Calculate return on investment.
Perform a financial ratio analysis of an income statement.
Understa nd an income statement.
At the end of the case, Richard describes how he profited as an individual from the experience of throwing the Halloween party. What do you think he meant by this?Is it possible to profit from
Brainstorm three things Richard might have done differently in planning his party to increase his sales revenue.
One of the reasons why Richard earned a substantial profit is because he convinced his personal contacts to provide their services at a discounted rate. If Richard decides to grow his party-planning
Assume that Richard decides to start a party-planning business:• Identify two ways he could assess the cost of goods or services sold for this business.• Which costs, described in the case, would
What was the mix of funds used by MooBella to get started?
It took nearly 20 years from idea to market for MooBella. Clearly, it had a long development and start-up period. Reflect on the emotional and other nonmonetary factors that were likely involved for
Last month, Sue, of Sue's Sandwiches, sold $3,000 worth of product (sandwiches and sodas) from her sidewalk cart to 300 customers. She spent $600 on the sandwich ingredients and buying the sodas
For a business you would like to start, estimate what you think the fixed and variable costs would be. Choose a category for each cost from USAIIRD: utilities, salaries, advertising, insurance,
Imagine that you have invented a guitar strap that goes over both shoulders, thereby reducing shoulder strain for the guitarist. This item could be a big seller, but, before you can apply for a
Describe the record-keeping system you intend to set up for your business.
How does Done extend his brand?
What was Done's first marketing effort?
Discuss the company's global marketing.
Take a look at Done's retail stores on the Internet. Set the pricing to USD and browse through the Web site. What pricing strategy is employed by the company?
How are his products distributed (through what channels)?
What is the product mix that Ken Done's enterprises have developed?
How does Ken Done incorporate the Four P's into a creative, effective, integrated marketing effort?
How can growth cause issues in customer service? How did DFH address this?
What is the relationship between the sales strategy for DFH and its pricing strategy?
Why is sampling an important part of the sales process for DFH?
How do members of the sales force participate in goal setting?
What are the roles of the customers of DFH?
According to Sam Calagione, what does education have to do with sales?
Through which channels does Dogfish Head sell its products?
How do Kay and Steve support their customers and colleagues, and utilize customer referrals?
What principles of selling do Kay and Steve employ to sell Conversation on Networking?
List three things that Kay and Steve have done that you could adopt to help build business relationships.
How does Conversation on Networking reinforce the importance of selling based upon benefits?
Interview an entrepreneur about the type of CRM he or she uses.Discuss customer service and complaint handling in particular. Summarize the interview in a short paper.
Visit three businesses in your community and take notes on your experience as a shopper. Write a memo comparing the customer service at each. Include such information as the following: Were you
Arrange to receive a sales pitch from a competitor in the business field that you intend to enter. After the presentation, write down your objections to purchasing the product or service. Use Brian
Write a memo to your partner discussing his or her sales calls and how they could be improved. Use the eight steps of a sales call in the text as your guide when analyzing your partner's efforts.
Develop a one-minute sales pitch for three items that you are wearing. Try out the pitch for each on a partner. Have your partner help you time the pitches to one minute. Do the same for your partner.
What do you expect your personal look to be when you start selling your product or service, and why?
Give three reasons why it is important to keep collecting market research even after you have opened your business.
Write a one-minute sales call for the product or service your business will be selling. Try your pitch out on a partner and write down his or her objections. Rewrite your pitch to incorporate those
Have you created any marketing materials for your business? If so, have three friends and a mentor (someone older whom you respect and who can give you good business advice) look at your materials
Identify five specific sales call prospects for your business. Prequalify them using these questions: (1) Is the prospect in my market? (2)Does he or she need my product or service? (3) Will my
List five things you intend to do in your business or in the home and office delivery-and-pickup dry cleaning company to offer superior customer service.
Describe a business that you deal with as a customer. Describe the customer service at this business. What do you like or dislike about it? How could it be improved?
Create a customer profile database for your own business or a home and office delivery-and-pickup dry cleaning service containing at least 20 data fields. Which five questions would you ask every
Describe the features of each product listed below and then create a benefit statement for each that you would use as selling points.Product wristwatch with daily-events calendar milk-free chocolate
Provide superior c ustomer service.
Explain the importance of selling based u pon benefits.
Imagine a scenario in which Malia Mills Swimwear hired you as a media consultant.Answer the following:• Come up with a cause-related marketing strategy for the company.• Describe three strategies
Why was the "Polaroid project" a successful promotional venture?

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