Access stages of managing organizations at this link: http://www.sba.gov/smallbusinessplanner/index.html. Describe each stage as it relates to a new small business’s launch. Which stage do you feel is most important to a small business’s success? Why?
Are the chances of success for a small business dependent on the entrepreneur’s personality? What are basic competencies an entrepreneur needs for a successful business? Provide examples to support your answer.
How may an entrepreneur determine a business venture’s success? Explain components of conducting a feasibility analysis. What element do you feel is most important? Provide examples to support your rationale.
Why is it important for an entrepreneur to develop a business plan? What key components must be included in a well-written business plan? Identify components you would include in a business plan for a start-up business. Do differences exist between business plans for start-up and existing businesses? If there are, what may be reasons for those differences?
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