Many entrepreneurs lack objectivity and have no real insight into the market. Why are these characteristics considered pitfalls of selecting new ventures?
Answer to relevant QuestionsDescribe each of the five critical factors involved in the prestart-up and start-up phases of a new venture.Many entrepreneurs have a poor understanding of the finances associated with their new venture and/or have a venture that lacks uniqueness. Why are these characteristics considered pitfalls of selecting new ventures?In addition to personal and financial issues, what other factors should the prospective owner be concerned with? Describe at least four.Identify the Franchise Disclosure Document. Explain why it is important in franchising.In a new-venture evaluation, what are the four stages through which a proposal typically goes? Describe each in detail.
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