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Question
week 1
Business Planning (graded)
Why should small business owners and entrepreneurs spend time planning for their business when creating the business takes so much effort? Does failing to plan mean that one plans to fail?
From Concept to a Business (graded)
What is the necessary requirement to turn a business idea into a business? If you don't have customers willing to buy your new product or service at a price that gives you a profit, do you really have a business?
week 2
The 60 Second Elevator Pitch (graded)
Peter Lynch (a legendary investment fund manager) once said that he wouldn't invest in a company unless he could explain its business in five minutes or less to his 12 year old son. Why is the 60 second elevator pitch so important?
How might you explain a high-tech idea to someone who is not tech savvy?
Identifying the Competition (graded)
Is there any business that has no competitors?
If your business is so attractive, why aren't others already in it?
week 3
Inducing Your Customers to Buy (graded)
What are the differences between products and services that are needs rather than wants?
How do you know if a potential customer is ready to buy?
Promoting a New Business (graded)
How do high tech companies (e.g. Apple, Microsoft, Dell, and HP) promote new products to generate maximum customer interest?
Can you promote the scarcity of initial products as a sales gimmick?
