Lotus Chips Case Study

Question #1- After evaluating the idea of these entrepreneurs against the seven rules of thumb insinuate in Chapter 14 of the textbook, what do you believe is the level of date for their credit line Any person who is venturing out to tack together his or her induce business will always be at gamble. in that respect is always a destiny that the business will not succeed. burn and Kinard had minimal risk when they decided to open their suffer business. Their lack of companionship and brighten 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 regaining their ingredients and their pots and go home. They did not take on to they took the risk and with the assistant form professionals, family and friends they are now successfully running their admit business for four years. Based on their innovative efforts, ruin was a creative cook and love to entertain. She enjoyed experi menting with recipes. One twenty-four hour period she stumbled upon a recipe for pieces and after she tasted the chips she knew she could increase her own ingredients to falsify them taste better. She took her chips to a bridge nine-spot meeting and everyone enjoyed them prodding her to start her own business.

Considering their business brook round, neither burn down or Kinard have had much experience or knowledge for running a business. This was one drawback that they would encounter. Burns and Kinard focused by and large on the individuals who would be willing to apply more for a bag of chips that had an in teresting flavor. There are many types of ch! ips 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 investigate by using specialty stores to chatter how many connatural products sold for and asked the store owners to carry their product. By investigating the rivalry and interviewing store owners they determined that the market already exists for their product. They packaged each flavor of...If you want to get a full essay, club it on our website: BestEssayCheap.com

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