ENT 350 9:15:16 class notes PDF

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Williams class. Class notes taken. highly recommend studying for exam. ...

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ENT 350 9/15/16 class notes 

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Management Prowess: o Do you as the managers do you have all the things you need to make this organization creative and skills needed to survive. Resource sufficiency o Non-financial resources needed. o List 6-12 resources you need. Knowledge? Skills? Technological? Physical capital? What is that you need to be successful. o Human resources: how many people do you need. (focus on this for FA) o Physical assets: do you need office space o Emotional resources: do not need this is FA. Financial feasibility analysis o Do the financial ultimately make sense Total start up cash needed o You are going to write a budget. What you need. Things you need to be able to accomplish Financial performance of similar businesses o Look at what other similar businesses did. Revenue drivers o Some are going to have one source of revenue. o Other going to have more than one revenue source. o Usually better if you have more than one source of revenue. Overall financial attractiveness of the proposed venture o A simple financial statement. Does it make money? Does it make enough money? o Recurring revenue—think about if your customers will keep coming back or will you get new consumers. o...