Reference no: EM133057320

1. Entrepreneurs have many unique character traits that distinguish them from regular employees.

a) how do these character traits help entrepreneurs navigate the challenges in starting a business? Be specific in discussing.

b) how do the different motivators of entrepreneurs help them in starting their business? Be specific in discussing.

2. Value creation is one of the most important aspects of owning a successful small business. What benefits accrue to businesses using a focused value proposition? What is the result of not having this well-defined? How does total customer experience help create value both perceptionally and realistically?

3. Why is having an effective business model so important in the success of a new business?

4. Many businesses have several different versions of their business plans. Explain the rationale behind this and why it is important to the entrepreneur to do so. Please give a couple of specific examples.

5. Business location is one of the most important aspects of starting a business. Discuss a local business with a good location and one with a bad location.

6. Why is it especially important for a small business to operate with integrity? How does the internet and social media influence integrity in small businesses?

7. Compare and contrast starting a business versus buying an existing business. What is your perspective on using a franchise model for the business?

8. In what ways does market segmentation benefit small businesses? How does the intersection of the marketing budget - and how we arrive at that budget - and market segmentation affect our marketing plan and approach?

9. How do the results of the SWOT and PESTLE analysis inform our marketing approach? Give some specific examples from each to illustrate your point.