What are the pros of having angel investors in a new business?
> How can a new business leverage free promotions?
> What is non-equity funding? Summarize the different types of funding that new small business owners can consider for their funding needs.
> What are the means by which products or services may be priced?
> How is a target customer profile used in the operation of a new business?
> What elements are necessary for a target customer profile?
> What advice would you provide to a potential new business owner about establishing a marketing plan?
> Explain how the web is used by businesses for advertising.
> Describe the basics of a marketing plan.
> What legal issues are related to the retaining and the termination of employees?
> How does compensation impact the ability to retain an employee?
> How should a new business develop a profile for its potential customers?
> What is the best method for making an offer to a candidate?
> Summarize the key issues associated with new small business financing. Why is the appropriate amount of funding important to the new small business owner?
> How can testing be used to improve the hiring decision?
> What techniques improve the interviewing process?
> What means would you suggest to help avoid job discrimination?
> What are the various ways to advertise a job opening?
> What elements should a good job description contain?
> What is the impact on hiring decisions when the business is family owned and run?
> How does ADA affect retail organizations?
> Describe the impact that OSHA could have on a new restaurant operation.
> How are performance reviews related to employee retention?
> How would you advise a potential entrepreneur define the industry for a new business?
> What is the importance of proper accounting when starting a business?
> What benefits might be offered to new employees?
> What means would you suggest to improve the process of hiring the right people for a new business?
> What are the major differences between a Board of Directors and a Board of Advisors?
> What are the impacts on a business that chooses to form as an LLC?
> What are the impacts on a business that chooses to form as a C Corporation?
> What are the impacts on a business that chooses to form as an S Corporation?
> What are the impacts on a business that chooses to form as a partnership?
> What are the impacts on a business that chooses to form as a sole proprietorship?
> Do you think such legal protections are more or less important to a new business than to an established business?
> Why is a legal system so critical to a new business?
> What are equity investments? Discuss how they assist the new entrepreneurial business owner with the costs related to the new business start-up.
> Compare and contrast the behavior of entrepreneurs versus the behavior of large corporate executives. Why are entrepreneurs more dedicated to their businesses?
> How is sensitivity analysis used to protect a business?
> How is a deviation analysis used by a business?
> List two performance measures and explain their significance. (Any two of the three)
> What do performance ratios seek to measure? What are the major types of performance ratios?
> What do leverage ratios seek to measure? What are the major types of liquidity ratios?
> What do activity ratios seem to measure? What are the major types of activity ratios?
> Why are industry averages important to the interpretation of ratios?
> What do liquidity ratios seek to measure? What are the major types of liquidity ratios?
> What are the four means to evaluate the firm, its activities, and its performance?
> Summarize the categories of expenses in a cash flow statement. Provide specific examples.
> Why might a business choose to factor its accounts?
> Explain the advantages and disadvantages of new business entrepreneurship?
> How can asset leases be used to improve the income generation of a new business?
> How will venture capital impact a growing business?
> Why should a new businessperson be wary of equity investments by other companies?
> How can a new business take advantage of grants?
> What are the negative impacts of supplier credit on the new business start-up?
> Explain the best use of credit cards in a new business operation.
> Why should a new business spend time setting up a chart of accounts?
> Why do resources or capabilities have to meet all four requirements of the resource-based analysis to provide the company with a competitive advantage?
> How does a new businessperson use a P&L statement?
> What factors impact how much equity a new business gives away for a set dollar investment?
> What is due diligence? Why is it important?
> How might an entrepreneur find out how much a business is worth?
> How can using loans help the new business grow?
> How is an income statement used by a new business?
> What elements make up a break-even analysis?
> Why is break-even analysis so important to a new business?
> Why is it important for potential entrepreneurs to have a personality that compliments their interest in a potential new business opportunity? Why should entrepreneurs enjoy their work?
> How does the balance sheet relate to a cash flow statement?
> What is deviation analysis? When is it used? Discuss how it is useful to a new small business owner.
> Summarize the key characteristics that drive the new business founder to design an effective mission statement?
> What is the difference between a tangible and an intangible asset?
> Who is Michael Porter? What is his argument as it relates to business strategy?
> What is a firm’s strategy? What is the foundation on which the firm’s strategy is built? Why is an effective strategy important for the new small business?
> Discuss how the firm’s mission helps the new business venture. What does it target? Why?
> What is a mission statement? When should it be developed? How does it compare to the strategy of the new small business?
> What are economic rents? What do they imply?
> What is a first mover advantage? What are some advantages to an entrepreneur who has a first mover advantage?
> What is a sustainable competitive advantage? Why is it important for a new entrepreneurial business owner to gain it? Be specific.
> Summarize why entrepreneurs utilize the technique known as resource-based analysis.
> Explain why new entrepreneurial business owners select or target their customers. What are the disadvantages associated with not choosing the customers?
> Discuss how industry trends shape the long-term perspective of the industry. Why?
> What makes a good mission statement?
> What is an exit barrier? Discuss why small business owners include them in their entrepreneurial business planning.
> New business owners learn to assess the external environment. List the eight critical steps that new business owners use to assess the external environment.
> What is a substitute? Why do new entrepreneurial business owners evaluate substitutes and the potential impact they have in the market?
> Define a fragmented market. Why is it important for entrepreneurs to understand them?
> Summarize the similarities and differences between usual and unique parts of businesses. Provide an example for each term.
> Describe how unique products can develop into competitive advantages.
> Explain why it is important for entrepreneurs to evaluate their competitors.
> What is a deficit analysis?
> How can new small business owners finance their new entrepreneurial businesses? What do they do if they do not have enough money to initiate their business operations? List at least three ways individuals can acquire the money they require to start a new
> What is business risk? What are the three threats that impede entrepreneurial venture success? Discuss why potential entrepreneurs should be concerned about business risk.
> How should a mission statement guide the actions of employees?
> Summarize the five important headings that a potential entrepreneurial owner should consider when completing a gap analysis. Can you think of additional items to consider?
> Summarize the six ways that new potential entrepreneurs identify business opportunities in the marketplace.
> What is brainstorming? Why is it important to the new entrepreneurial owner?
> What is a harvest plan? Why is it important to consider a harvest plan?
> What do new entrepreneurs plan prior to the establishment of their new small business?
> Describe the differences between entrepreneurial businesses and venture capital-backed firms.
> Discuss the characteristics of an entrepreneurial business start-up.
> What does the government do to enhance the success of SMEs? Why?
> In reference to the timeline of business in the United States, why was the period of the Great Depression harder on smaller business than on larger businesses?
