BU121 Study Guide - Midterm Guide: Elevator Pitch, Intelligence Quotient, Chiropractic
Document Summary
A formal written document that explains the entrepreneur"s vision and how it will be converted into a profitable, viable business. Price cutting by competitor, who refuse to roll over and play dead for the new venture. Unforeseen industry trends that make the new venture"s product/service less desirable or less marketable. Sales projections that are not achieved for a variety of reasons, thus reducing cash flow. Design, manufacturing, or shipping costs that exceed estimates. Product development or production schedules that are not met. Useful for the project/not for exam purposes . The most important things an entrepreneur must accomplish are: make meaning, make mantra, get going, define a business model, weave a mat , milestones, assumptions, tasks (day to day tasks ie. buying furniture) Forces the founding team to work together. Makes the team consider issues it glossed over in the euphoria. The process is more important than the destination. Write deliberate, act emergent (act as if experienced)
