A colleague recently told you about an exciting business idea that he is starting with his life
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Question:
A colleague recently told you about an exciting “business idea” that he is starting with his life savings as initial capital.
What advice might you give that would help him understand the difference between a business idea and a business opportunity?
What are the key conditions necessary for an idea to represent a business opportunity?
What specific tools or processes could he use to help evaluate the potential of his business idea before investing his life savings?
Related Book For
Data Analysis and Decision Making
ISBN: 978-0538476126
4th edition
Authors: Christian Albright, Wayne Winston, Christopher Zappe
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