BUSI603DB Response 1b

BUSI603DB Response 1b - DB Response While there are several...

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DB Response While there are several threats that an entrepreneur faces in starting a business, there are also considerable threats that are posed concerning managing a business, and dealing with the possibility of failure. An entrepreneur must have a logical approach to starting a business. The approach should be well founded and not based upon mere dreams. However, several studies have concluded that many start-up businesses and actions of entrepreneurs are influenced heavily by bias, arrogance, and overconfidence Further, entrepreneurs who begin out of necessity--that is, after a long period of unemployment—are less satisfied with their start-up business than those entrepreneurs who are able to start their business because of opportunity, ability, or convenience (Block & Koellinger, 2009). The costs of start-up businesses add up quickly—salaries, supplies, postage, insurance, licensing fees, taxes, maintenance—and can catch the entrepreneur off guard, especially if he does not an expert on his own personal finances (Dirubbo,
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This note was uploaded on 03/11/2010 for the course BUSI 603 taught by Professor Dr.ellis during the Spring '10 term at Liberty.

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BUSI603DB Response 1b - DB Response While there are several...

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