Lotus Chips Case Study

Question #1- After evaluating the idea of these entrepreneurs against the seven rules of thumb describe in Chapter 14 of the textbook, what do you believe is the level of resonate for their credit line Any person who is venturing out to pull in his or her induce business will always be at run a risk. in that respect is always a dislodge that the business will not succeed. burn and Kinard had minimal risk when they decided to open their suffer business. Their lack of experience and pull with starting a business would be their largest risk. The start up fees was relatively inexpensive and they knew if it did not work out they could get into their ingredients and their pots and go home. They did not take on to they took the risk and with the function form professionals, family and friends they are now successfully running their experience business for four years. Based on their innovative efforts, burn down was a creative cook and love to entertain. She enjoyed ex perimenting with recipes. One daylight she stumbled upon a recipe for knaps and after she tasted the chips she knew she could increase her own ingredients to crap them taste better. She took her chips to a bridge nine-spot meeting and everyone enjoyed them goad her to start her own business.

Considering their business brook round, neither ruin or Kinard have had much experience or knowledge for running a business. This was one drawback that they would encounter. Burns and Kinard focused more often than not on the individuals who would be willing to apply more for a bag of chips that had an interesting flavor . There are many types of chips on the marke! t, but Lotus Chips was invented to be a gourmet chip that would satisfy anyones pallet. Burns and Kinard showtime started their marketing seek by using specialty stores to chatter how many kindred products sold for and asked the store owners to carry their product. By investigating the challenger and interviewing store owners they determined that the market already exists for their product. They packaged apiece flavor of...If you want to get a full essay, order of magnitude it on our website: BestEssayCheap.com

If you want to get a full essay, visit our page: cheap essay