If you are thinking about starting a business after graduation, what are the six factors that should be considered in addition to your own personal values and philosophy?
What will be an ideal response?
The six factors are:
1. capital requirements: How much money will be necessary to fund the operation?
2. risk: How do you feel about the possibility of losing everything?
3. control: How important is authority and control to you?
4. managerial abilities: Do you possess the skills needed to plan, organize, and control the business?
5. time requirements: How much time are you willing to devote to operating the business and leading employees?
6. tax liability: How important will proper and effective tax management be to you?
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