Lotus Chips Case Study

Question #1- After evaluating the idea of these entrepreneurs against the seven rules of thumb delineate in Chapter 14 of the textbook, what do you believe is the level of besiege for their credit line Any person who is venturing out to shew his or her induce business will always be at jeopardy. in that respect is always a put on the line that the business will not succeed. burn and Kinard had minimal risk when they decided to open their suffer business. Their lack of familiarity and get wind 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 send their ingredients and their pots and go home. They did not take on to they took the risk and with the dish form professionals, family and friends they are now successfully running their declare business for four years. Based on their innovative efforts, burn was a creative cook and love to entertain. She enjoyed experimentin g with recipes. One twenty-four hour period she stumbled upon a recipe for maculations and after she tasted the chips she knew she could increase her own ingredients to work up them taste better. She took her chips to a bridge nine-spot meeting and everyone enjoyed them urge on her to start her own business.

Considering their business brook round, neither destroy or Kinard have had much experience or knowledge for running a business. This was one drawback that they would encounter. Burns and Kinard focused for the most part on the individuals who would be willing to apply more for a bag of chips that had an interesti ng flavor. There are many types of chips on ! the market, but Lotus Chips was invented to be a gourmet chip that would satisfy anyones pallet. Burns and Kinard showtime started their marketing query by using specialty stores to chatter how many standardised products sold for and asked the store owners to carry their product. By investigating the rival and interviewing store owners they determined that the market already exists for their product. They packaged from each one flavor of...If you want to get a full essay, assemble it on our website: OrderCustomPaper.com

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