Textbook Notes (290,000)
CA (170,000)
McMaster (10,000)
COMMERCE (2,000)
Chapter 7

COMMERCE 1B03 Chapter Notes - Chapter 7: Angel Investor, Crowdfunding


Department
Commerce
Course Code
COMMERCE 1B03
Professor
Rita Cossa
Chapter
7

This preview shows half of the first page. to view the full 2 pages of the document.
Changes in the marketplace (e.g. economic conditions, number and size of
competitors and new entrants)
Many businesses with the lowest failure rates require advanced training to start --
dental practices, medical practices, so on, however, they don’t tend to produce much
growth
A business idea is a good business opportunity if
You have the skills and resources to start a business
You can sell the product at a price customers are willing and able to pay, and still make a
profit
You can get your product or service to customers before your window of opportunity
closes
You can keep the business going
Learning About Small-Business Operations
1. Learn from others
2. Get some experience
3. Buy an existing business
4. Buy a franchise
5. inherit/take over a family business
Managing a Small Business
1. Planning your business
2. Financing your business (finance)
3. Knowing your customers (marketing)
4. Managing your employees (human resource)
5. Keeping records (accounting)
Planning
You're Reading a Preview

Unlock to view full version