ch1-G10

•Explains what the business does.

•Includes products/services, structure, and purpose.

•Shows how the business will attract customers.

•Covers market research, target market, competition, and the 4Ps.

•Explains how goods/services are produced or delivered.

•Includes suppliers, equipment, location, and quality control.

•Covers business registration, licenses, permits, and legal protection.

•Includes compliance with regulations and intellectual property.

•Outlines startup costs, revenue, profits, and funding needs.

•Includes financial forecasts and break-even analysis.

•Describes the team and their roles.

•Shows skills, experience, and organizational structure.

Dany lives in the Chicago suburbs and uses her hoverboard wherever she goes. She is frustrated

whenever she goes to Chicago and is forced to walk or use a bicycle to get around. She decides to create

a company called Chicago-go Hoverboards, which will place kiosks around the city where users can rent a

hoverboard and use it for an allotted time before dropping it off at a different kiosk. Dany is best classified

as a(n)

Shobha is a creative writer. She is self-employed and earns her living by using her knowledge and abilities

to create social media content and blog posts for customers who hire her for her skills. Shobha works as

Zardarious was given the opportunity to buy his friend’s well-established gastropub. Zardarious is ready to

own a business but isn’t sure he should buy the business. What would be the most compelling argument

for Zardarious to buy the gastropub?

Zardarious was given the opportunity to buy his friend’s well-established gastropub. Zardarious is ready to

own a business but isn’t sure he should buy the business. What would be the most compelling argument

for Zardarious to buy the gastropub?

Which of the following is a psychological characteristic of entrepreneurs?

Wilson states, “Culture is important to me. Our culture is based on accountability, camaraderie,

and results. I’ve moved from finding the best person for the job to finding the best fit for our

culture.” The attribute of a successful entrepreneur represents

A side hustle is a main full-time business that replaces employment completely.

Papa Johns strategy to pursue breakfast pizza is an example

Keith works as an actuary for a large insurance company. Because he loves math so much, he also

tutors high school students on the weekends.

Josh (a computer programmer), Dylan (a data engineer), and Zeke (an accountant) are working together to develop a new

mobile application that will allow independent authors to sell their written works without having to go through a publisher..

Tahlia is a stay-at-home mom. When her children are at school, she works out of her house transcribing medical records.

She uses the website Upwork to find clients in need of her skills.

Danielle works as a photographer for weddings and special events. She operates her business alone and takes care of all

aspects of the business herself.

Naveen is fluent in several languages. He runs a small business out of his house where he works via zoom as an interpreter

for companies that have international clients that do not speak English. He chose to work from home rather than join a

professional interpreter company, because working from home allows him to do the work he loves but have a more flexible

schedule.

Mateo works at a local café that is popular with morning commuters. He

notices that many customers who buy coffee in the morning transfer the

coffee into their own insulated “to-go” mugs. Mateo comes up with the

idea of having the café’s own insulated mug with the company logo on it

as a way to promote the café. As a bonus—and to increase customer

loyalty—customers who buy the mug will receive a discount every time they present their mug to buy a drink.