Lauren Mitchell is achieving some success with the real estate firm she launched two years ago. A rebounding local economy has helped as has the fact that she is well connected with those heading the chamber of commerce in the city in which her firm is located. She feels, however, that she is having to cover too many of the tasks required for her firm to keep running herself. She has asked you for your advice given that she knows you are taking an entrepreneurship course. Use your knowledge about a skills profile to help Lauren understand how to proceed with her labor-related challenges.
Answer to relevant QuestionsWhat is liability of newness? What criteria did Gold establish and use when forming a board of directors? What are the difference between a heterogeneous and a homogeneous founding team? If you worked for an entrepreneurial venture, what would you want to know about a large company before recommending that your firm form a partnership with that large, established company? Describe the nature of business angel funding. What types of people typically become business angels, and what is the unique role that business angels play in the process of funding entrepreneurial firms?
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