Answer the following questions located in the Study Questions area at the end of Chapter 3:

4. What are the most important determinants of success and failure in new businesses? Who has the best and worst chances for success, and why?

6. What criteria and characteristics do high growth entrepreneurs, venture capitalists, and private investors seek in evaluating business opportunities? How can these make a difference?

8. What are the most important skills, values, talents, abilities, and mind-sets one needs to cultivate as an entrepreneur?

Answer the following questions located in the Study Questions area at the end of Chapter 8:

1. What is a business plan, for whom is it prepared, and why?

2. What should a complete business plan include?

3. Who should prepare the business plan?

4. How is the plan used by potential investors, and what are the four anchors they are attempting to validate?

7. How can entrepreneurs use the business plan process to identify the best team members, directors, and value-added investors?

8. Prepare an outline of a business plan tailored to the specific venture you have in mind. (Please tailor this to a logistics/shipping company.)