Exam 17: Entrepreneurship

You work as an advisor at the Small Business Administration. Sally Sheridan has come to you seeking your advice. She is an aesthetician who is just thinking about starting her own business. She wants to own a beauty-services salon that provides manicures, pedicures, massages, hair styling, make-up, and other services. What is the best piece of advice you can give her?

Marvella has created a high-frequency buzzer that prevents dogs from barking. The moment dogs hear the buzzer's high-pitched squeal, they stop barking. Extensive market testing has shown Marvella that the buzzer works across all breeds and on dogs of all ages. This product can be a lifesaver for people who live in apartment buildings and whose neighbors complain about barking dogs! Marvella should immediately apply for a

In general, a company that starts with a business plan is ________ to succeed than a company that does not start with a business plan.