The entrepreneurship class you are taking meets for four hours once per week. A break of 10 minutes or so takes place after the first two hours of each class. During a recent break, you overheard one of your classmates say to another person that in her opinion, the teacher is overselling the importance to potential investors of a start-up’s management team. “After all,” the classmate says, “a good product outweighs any deficiency a firm may have in terms of managers and their abilities.” Given what you have learned about business plans, what would you say to your classmate to convince her that she needs to rethink her view about potential investors’ views about the quality of a proposed venture’s management team?
Answer to relevant Questionsd.light, which operates as a for-profit social enterprise, is the focus of Case 6.2. What, if any, special factors should be kept in mind when writing a business plan for a for-profit social enterprise? In what ways is Birchbox’s business approach a win-win for both its suppliers and its customers? If you were one of d.light’s founders, what would your marketing strategy be? How would you go about educating people in remote areas of the world about your product and the benefits associated with purchasing it? Why do you think start-ups launch and distribute stock to founders and others members of their new-venture team without vesting schedules? What are the differences between a general partnership and a limited partnership?
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