- This question answer should contain at least 250 words. If you feel you have a great idea, but you lack funding to get the business off the ground, how would you convince investors that your idea will be viable? Describe the types of lenders you feel would be most accepting of your venture.
- This question answer should contain at least 250 words. Choose two similar companies and analyze the two as competitors. (ex: McDonald’s and Burger King). Share your analysis with the class. Did anything stand out to you as a result of your analysis?
Some guidance questions for analysis:
What do customers expect the business to do for them?What needs are they satisfying when they buy from the company?How often do customers buy?Do they buy in seasonal patterns?How loyal are present customers? How many similar businesses have entered the market in the last five years?How many similar businesses have closed in the past five years? What caused them to fail?