# -*- coding: utf-8 -*- """IndAttr_quiz.ipynb Automatically generated by Colaboratory. Original file is located at https://colab.research.google.com/drive/1GtdGdyvY0v2qFjhY3XX30EUWL86PCrVN """ # quiz using forms as template# # Attractiveness of Industry# q1="""Are there opportunities for you to gain more market share? a. No b.Yes""" q2="""The growth rates in our industry are a.Poor b.Excellent""" q3="""If you weren't already invested would you enter this industry? a.No b.Yes""" q31="""Are the gross margins in this industry high? a.No b.Yes""" q4="""What is the level of competition within your market area? a. Highly competitive b. Not competitive""" q5="""What is the likelihood of new competitors entering your market? a.Very likely b. Not likely""" q6="""Do you have a clear competitive advantage (like a lower cost structure or a clearly differentiated offering)? a. No b.Yes""" q7="""Is your major customer segment going through growth or contraction? a.Contarction b.Growth""" q8="""Are changes in consumer preferences moving customers toward or away from your business? a.Away b.Towards""" q9="""How strongly is your pricing influenced by customer expectations/ability to pay? a.Very b.Not very much""" q10="""Are there alternative products that your customer could buy? a.Yes b.No""" q11="""What degree of bargaining power do you have with suppliers? a.Not much b.Very much""" q12="""Is there a significant cost in keeping up with technological developments in the industry? a.Yes b.No""" q13="""What impact is technology having on your industry? a.Disruptive b.Positive""" q14="""On a business life scale rate the industry as a.Declining b.Mature
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How To Make A Business Case For Starting the Business

Jul 26

2 min read

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Businesses get started for many reasons. Some of them are not very valid. Far too often it’s to provide a job for the owner. At other times it is an entrepreneurial seizure (see M Gerber ,”The E Myth”). The future owner simply decides that enough is enough. The scenario may look like this:

  • The owner has a skill, a trade , or a profession and thinks this is enough to go into business on their own

  • The individual wants to be independent and not have a boss to deal with

  • The individual sees how much money the owner makes and wants the same. Why be an employee? Have it all.

  • The individual is unable to hold down a job. Constantly getting fired or quitting

  • The individual is unable to find a job so being self employed becomes a necessity

  • It may search for a better lifestyle with more free time

  • There is the personal satisfaction of taking on a challenge

  • It may be an attempt to build a future for the family

Some of the above are tempting to most of us and we may have all been there at one time. However the above are all the wrong reasons for starting a business.

They all center on the business owners and their needs. Instead valid reasons should be concerned with the customers that the business owner wants to serve.

What are valid reasons for starting a business? The focus must be on the customer and not on the owner. By this I mean that the business must provide value for the prospective customers.

There are only 2 valid reasons for starting a business:

  1. We have identified a market need not being filled and we can fill that need

  2. We can provide a solution that is more effective than what currently exists in the market place. We are faster, cheaper, in general better in some way.

It must never be that of satisfying the owner’s needs.



Jul 26

2 min read

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11

0

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