OMX 1-5 - OMX What are 6 of the qualities and factors one should aim for when setting goals Ch 2 o o o o Specificity Optimism Realism Short and Long

OMX 1-5 - OMX What are 6 of the qualities and factors one...

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OMX What are 6 of the qualities and factors one should aim for when setting goals? Ch 2 o Specificity o Optimism o Realism o Short and Long term o Income o Lifestyle o Type of Work o Ego Gratification What are 4 “part-time pointers” to consider in helping to make your part-time business a success? Ch 4 o Involve your family in the business whenever possible o Be ready to give up personal time o Focus on the task in front of you o Make the most of every minute o Take advantage of time zone differences and technology o Be honest and don’t overstep your boundaries What are 4 “other issues you should focus on” in determining whether to buy a business? Ch 5 o Excessive or insufficient inventory o The lowest level of inventory the business can carry o Accounts Receivable and Net Income What are 4 things you can do to create a professional image? Ch 18 o Logo, Business Card, Signage, Stationary What are 4 things you would do to identify who your target market is and where they are? Ch 6 Pg78 o Describe the idea o What will the data be used for o Where are similar concepts used and sold o What places do my prospects go for recreation What is primary research? Ch 7 o Primary research is information that comes directly from the source – that is potential customers What is secondary research? Ch 7 o Secondary research involves gathering statistics, reports, studies, and other data from organizations such as government agencies, trade associations and your local chamber of commerce What are 5 “dos” and “don’ts” in choosing a business name? Ch 8 o Don’t pick a name that is too long or confusing o Stay away from cute puns that only you understand o
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