please answer Q1,2,3

4on4 Play! - Market Size Up - Business Partner Issues Jamal had to figure out what his next move was. He had just graduated from school and was tom about a major life choice and potential opportunity he had before him. A recent University Graduate with a degree in business, he had the unlucky circumstance to graduate during a severe economic downturn. Firms weren't only not hiring, but they were laying people off in record numbers. For the past 6 months he had been working with two fellow classmates on a business they were putting together. He was getting paid a very small salary to help make ends meet. but was promised a piece of the business if it took off. The concept was simple, and the brain child of his class mates Jordan and Eric. Jordan and Eric wanted to implement a cross Canada 4-on-4 street hockey tournament similar to what the NBA did in the US. Canadians are extremely passionate about hockey and every city in the country regularly has children playing ball hockey on the streets, school yards and parking lots. The goal was to develop a large tournament, hopefully with NHL sponsorship and many endorsements Elite teams paid $300 to compete and youth teams competed for $150. Each team was guaranteed three games on the event day, incorporating a round robin and playoff format Things weren't going quite as well as planned. Meetings were difficult to arrange with sponsors and NHL executives. It seemed they weren't too interested in meeting individuals who only had an idea to present The beginning of the first tournament was about 6 weeks away to be played in 6 cities across Canada (Halifax, Montreal. London, Winnipeg, Calgary and Victoria). Each event would cost approximately $10,000 to run (things were being kept quite small) and flight costs for the business were expected to be about $15.000 this year. Jamal wasti't sure of the actual ownership of the structure of the company. He knew that they raised $50,000 from Angel investors giving up 15% of the company He knew some of this money came from classmates in $5000 increments. To date there was only one sponsor (a sports drink) which amounted to about $5.000 and 30 Elite and 30 Youth teams registered to compete. Things were really tight. Last week while working in a small office the fim was using (space from a parent's law firm), he witnessed a fight breaking out between Eric and Jordan. It seemed Eric was going to be accepting a job offer with a consulting firm but still wanted to run 4-01-4 Play with Jordan Jordan felt that Eric would not have the time required to put into the company. Jordan seemed much more confident that the idea would work and more passionate about the company. He used to be a very good hockey player but suffered an injury when he was young which prevented him from playing professionally Jamal was concemed about what the future held for the company as well as what position he may have it in 1) What are your thoughts on the potential of this company? How many teams and how much potential money is there? List 5 (or more) steps you would take to make it the company or event a success. 2) What is the company's financial position look like at this stage? Should they proceed with the tournament, or pull out and get full time jobs? 3) What would you do as Jamal right now? What exit strategies might exist for this company