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Diversity in Entrepreneurship

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Imagine you are a consultant providing advice to small business owners. There are two different customers, a woman and a veteran, who come to you for advice.

Read the two scenarios provided below. For each of the scenarios, summarize the information you must provide to help your customer:

* Imagine you are a consultant providing advice to a woman who wants to start a Web-based business. Help your client identify legal, financial, and other resources she can use for starting up her business. Also, help her analyze the advantages and disadvantages of starting a Web-based business as a woman.

* Imagine you are a consultant providing advice to a veteran who wants to start a home-based business. Help your client identify legal, financial, and other resources available for starting up the business. Also, help the client analyze the advantages and disadvantages of starting a home-based business as a veteran.

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Solution Preview

Hello, here are some suggestions to help you develop a solid answer to this question:

A) A woman starting a Web-based business.
1. Legal resources: There are a number of online resources for people interested in starting web-based companies. She should visit http://www.yourlegalcorner.com/articles.asp?cat=comp&id=130. Be sure to point out to the customer that she needs to consider selecting the correct legal entity so that she can get the best tax rate.
2. Financial resources: Strong financial management is key to any business. There are a number of ways to diversify revenue streams with an online business, including ad sales, Google ad words and ad sense, pay-per-click programs, and online merchandising. The client should look into all these areas. Read more about these areas here: http://fusionbrand.blogs.com/fusionbrand/2004/08/secrets_of_onli.html. Also inform the client that she will need to find a reliable and honest financial manager or accountant not only for day-to-day operations but for an independent audit and for filing taxes.
3. Resources for women business owners: Womanbusinessowners.org is a non-profit that ...

Solution Summary

Discusses entrepreneurial issues for two clients: a woman and a veteran.

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Please look up this Case Study called "Dream Deferred: The Story of a High-Tech Entrepreneur in a Low-Tech World" and provide your thoughts on these questions below, also provide APA references and in text citations if necessary.

1. What are the infrastructure-related challenges faced by Adesemi?
2. What are the political/governmental challenges?
3. What are the problems third-world entrepreneurs have in raising capital?
4. What is the role of non-governmental organizations (NGOs) in developing a country's entrepreneurship? (You may need to so some additional research for this question.)
5. What is the author's take on workforce and managerial diversity?
6. What is the effectiveness of local partner relationships?
7. How important were connections, i.e., the Harvard "Old Boy Network", to Adesemi?

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