Risks For An Entrepreneur Who Becomes Emotionally Attached

936 Words Sep 29th, 2015 4 Pages
4-3: There are many risks for an entrepreneur who becomes emotionally attached to an idea to a new business. One of risk is that it might waste the entrepreneur a lot of time and money. Another risk is that new idea can destroy the achievement they have got before.
4-10: Tools for conducting primary research:
1. Customer surveys and questionnaires: Creating a surveys or questionnaires for collecting customer’s ideas.
2. Focus groups: Focus group refers a form of qualitative research that a group of people are asked about their perceptions, opinions, beliefs, etc.
3. Prototypes: Prototype means early samples, models, or forms.
4. Trade associations and business directories:
5. Industry databases: The database has many research reports about various industries.
6. Demographic data: Demographic data is about the Decennial Census and other surveys of individuals and households administered by the Census Bureau.
7. Forecasts: Forecasts means the process if making prediction if the future base on the past or present data.
8. Articles: Making researches by reading articles.
9. Internet: Searching information by using internet.
4-13: Developing a business model before writing business plan is essential because it adds more details to the evaluation of a new business begun during the feasibility analysis by graphically depicting the “moving paths” of the business and ensuring that they are all working together. Also, when building a business model, the entrepreneur address…

More about Risks For An Entrepreneur Who Becomes Emotionally Attached

Open Document