Risks For An Entrepreneur Who Becomes Emotionally Attached...

4-3: There are many risks for an entrepreneur who becomes emotionally attached to an idea to a new business. One of risk is that it might waste the entrepreneur a lot of time and money. Another risk is that new idea can destroy the achievement they have got before. 4-10: Tools for conducting primary research: 1. Customer surveys and questionnaires: Creating a surveys or questionnaires for collecting customer’s ideas. 2. Focus groups: Focus group refers a form of qualitative research that a group of people are asked about their perceptions, opinions, beliefs, etc. 3. Prototypes: Prototype means early samples, models, or forms. 4. Trade associations and business directories: 5. Industry databases: The database has many research reports about various industries. 6. Demographic data: Demographic data is about the Decennial Census and other surveys of individuals and households administered by the Census Bureau. 7. Forecasts: Forecasts means the process if making prediction if the future base on the past or present data. 8. Articles: Making researches by reading articles. 9. Internet: Searching information by using internet. 4-13: Developing a business model before writing business plan is essential because it adds more details to the evaluation of a new business begun during the feasibility analysis by graphically depicting the â€Å"moving paths† of the business and ensuring that they are all working together. Also, when building a business model, the entrepreneur addressShow MoreRelatedCharacteristics Of An Entrepreneur From The Sbo1859 Words   |  8 PagesDifferentiating the Entrepreneur from the SBO †¯Ã¢â‚¬ ¯ Differentiating a SBO (small business owner) and an entrepreneur can be difficult as most people would instinctively view them as one in the same. 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