Why is a legal system so critical to a new business?
> How can an entrepreneur be a millionaire on paper yet have no money in the bank?
> Why would an entrepreneur seek to exit a business?
> What techniques would you recommend for identifying competitors within an industry?
> Explain some key time management techniques that will benefit any new entrepreneur.
> Should all new companies open as soon as they are physically ready? Why or why not?
> How can quality be built into any product or service?
> What is equity funding? Discuss how businesses make equity investments in other start-up firms. Be specific.
> Why is a detailed chart of how business operations are conducted important to the new business?
> What would you recommend that a new business do to improve its acceptance and legitimacy in the market?
> What elements should be considered when leasing a new business location?
> Are all locations equal?
> Why is a critical path chart useful to potential investors?
> How is a contract sales force used in new businesses?
> In what context might independent sales agents be used?
> Why should a potential entrepreneur research the industry personally?
> What promotions might a new business use and why?
> 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?
> 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?
> What are the pros of having angel investors in 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?
