MGTA05H3 Lecture Notes - Lecture 7: Risk-Seeking, Sole Proprietorship, General Partnership
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MGTA05H3 Full Course Notes
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Anyone may start a business, no fees, no paperwork, no permission necessary. You (cid:272)a(cid:374) roll out of (cid:271)ed o(cid:374)e fi(cid:374)e day a(cid:374)d start a (cid:271)usi(cid:374)ess, (cid:271)ut if you do(cid:374)"t do so(cid:373)e pla(cid:374)(cid:374)i(cid:374)g, that"s just du(cid:373)(cid:271)! All you need to do, all that has to happen, how much 12302 you will need. You are not risk seeking, you are risk tolerant. Lay out all facts, assumptions, tasks, resources needed, timelines, do your homework, road map- to do list. Everything takes longer that you think it does, and everything costs more than you think it does . Better to fail o(cid:374) paper, tha(cid:374) fail i(cid:374) real life. Audience 2 (others who can help you succeed) More of a marketing audience, you need to convince them. Shows that the entrepreneur is serious, is willing to work. All models or templates suggest a plan to address 3 key issues: Market (opportunity, need to know your market, explain who will buy the product, why will.
