MGMT 4A Lecture Notes - Lecture 9: Coursera
Document Summary
You will need a banker, insurance agent, accountant, and a lawyer to help you with your business. Don"t choose the one down the street! Consider going to local chamber of commerce meetings. Instead, find a business mentor who can introduce you to the local networks. Always keep a close eye out for incompetence and scam artists! When starting a business, there always a chance your work won"t go over well. When things go wrong, you can be sued! All businesses generate some liability, but the amount and type vary. Example: someone can be injured while on a delivery. Important to establish a culture of safety and adopt policies to reduce accidents but accidents do happen and you are responsible! You can also be liable if your product or service doesn"t live up to expectations. Sometimes the liability exceeds the cost of the good or service your provide!
