1. two of the most important things to do when considering a business idea are to figure out how your…

1. two of the most important things to do when considering a business idea are to figure out how your business will make money and who will be competing with you for customers.\ntrue\nfalse\n2. according to the video, which step is most important to do first when developing a business idea?\nworkshopping the idea with potential customers and with experienced advisors, such as college professors in entrepreneurship, entrepreneurial networking groups, and small business development centers\nasking for seed money\nkeeping it secret, so no one can steal your idea

1. two of the most important things to do when considering a business idea are to figure out how your business will make money and who will be competing with you for customers.\ntrue\nfalse\n2. according to the video, which step is most important to do first when developing a business idea?\nworkshopping the idea with potential customers and with experienced advisors, such as college professors in entrepreneurship, entrepreneurial networking groups, and small business development centers\nasking for seed money\nkeeping it secret, so no one can steal your idea

Answer

Brief Explanations:

  1. When considering a business idea, understanding revenue - generation (how to make money) and competition (who the competitors are) are crucial, so the first statement is True. For the second question, workshopping the idea with potential customers and experienced advisors helps in validating and improving the idea early on, which is a fundamental first - step compared to asking for seed money or keeping it secret.
  2. Workshopping the idea allows for feedback and refinement, which is essential before seeking funding or being overly concerned about idea - theft.

Answer:

  1. True
  2. Workshopping the idea with potential customers and with experienced advisors, such as college professors in entrepreneurship, entrepreneurial networking groups, and small business development centers