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Chapter 7 Questions
The benefit that is most appealing to me is the opportunity to make money. This is the most appealing to me because I have always wanted to make money ever since I was a little kid.
The most obvious entrepreneurial characteristic that I have the willingness to work long hours and spend my time on a project. I have no qualms with investing the man hours into a project if it may mean success. I do think it is possible to obtain characteristics someone originally lacks but it will take hard work and time.
Failure plays an important role in entrepreneurial success. Most often an entrepreneur will not be successful on their first try and will have to try again. If an entrepreneur can not recover from failure he will never succeed.
To convince family and friends to support your idea it needs to be good and appeal to your family and friends. If they do not feel like they would use your product they are less likely to support it. In my opinion it would be impossible to keep the relationships professional because you are too close to them. I would buy a franchise to get used to running and managing a business before starting from scratch.
Other funding options aside from personal assets would be a small loan from a bank or family member. I think that they do not tap into more resources because no one who is starting a business wants to start it with substantial debt.
The opportunity that is most compelling is the ability to infiltrate a niche market that the big corporations can not adapt to quickly. The most intimidating threat is big corporations undercutting you by price and stealing your customers.
A niche marketer is someone who does business in a niche market where there is not alot of competition. Three examples of niche marketers are exotic car makers, private airplane makers and high end cookware manufacturers.
I would buy a

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