At a campus party, four friends were discussing their projects for the Business Start-Up class they were attending. “I think it’s great that Dr. Bockhorn wants us to come up with actual businesses a college student could start and run,” Tiffany stated. “The eBay store Tracey and I intend to start will capture customers from all around the world.”

Tracey added, “It took us a while to come up with the idea of baby clothing and equipment resale, but I think it’s viable.”
 Tom said, “Well, there’s nothing too unique about the coffee shop Todd and I are starting other than it’ll be on campus and open 24 hours a day.”
 “Don’t forget, we’re open only for students, faculty and staff of the university,” Todd remarked.
 Between the four friends, they touched on the four basic decisions a potential new business should consider. What were they?