Unit 2 assignment – analyze a new business

Instructions

Find the “You Be the Consultant” exercise in Chapter 4; “When to Call It Quits on a New Business”

• Read the exercise carefully after having read the required resources for units 1 and 2, and apply what you have learned in answering the three questions using no less than 600 words.
• Your answers should be submitted in a Microsoft Word doc or docx.
• Ensure that you answer the questions thoroughly and completely, providing solid support for your rationale (a minimum of 200 words minimum for each question).

YOU BE THE CONSULTANT – When to Call It Quits on a New Business

1. Why was it hard for Jake to admit his newest venture was not going to work?
2. What would you recommend that entrepreneurs do to ensure that they don’t hang on too long to a failed business concept?
3. A failed business concept does not mean the entrepreneur has failed. How would you explain this to an entrepreneur facing a failed business concept?

Scarborough, N. M. (2019). Essentials of entrepreneurship and small business management (9th ed.). Upper Saddle River, NJ: Pearson. ISBN 13: 9780136879664