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Paul Olsen

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Write-Up Assignment – Paul Olsen (A)
What do we learn from our discussion of the case?
There were multiple things that we have learned from our discussion of the case. First of all, there were a variety of things that Paul Olsen should consider before he proceeded. As we realized later in class that Paul Olsen was successful with raising the $250,000 and opened a piano bar and restaurant in Station Square on schedule and with sales and profits exceeding Paul's projections. We learned that Paul took risk at opening this business. Back in the day, people probably didn't have as much money to go to a bar in Station Square. Also, we learned that they weren't as experienced in the bar or restaurant business but, they still choose to move forward with the bar. Couple other points that we learned from the discussion is that this case didn't really have basis of the projected profits. We didn't know how competitive is the bar and restaurant business that the area. We weren't given any information about what really makes some establishments more profitable than others, but Paul still proceeded.
Also, have the correct partnership is very important as well. The investor pool is large and only includes one person with any restaurant experience. From the case, we found out that Rose was the general partner and Paul had decided to be a special limited partner. As an entrepreneur, this is important to make sure your legal form of the organization is correct. This decision is driven by the objectives of the entrepreneur and the firm’s investors. A limited partnership is a partnership which has both limited and general partners. We learned that Rose was going to be the general partner who was going to assume the management responsibility and unlimited liability for the business. It does seem that Paul did choose the correct legal form.
Also, Paul decision to go ahead and

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