Case Study #1 (Pge. 35)
1. Prior to starting EET, what types of things did Michael and Sheena do to help themselves build entrepreneurial knowledge/skills? - Everything grew from their small actions. They started seeking bulk purchases from schools and other youth organizations. They also started talking to groups of students when they school purchased books. They then realized that people would pay them to speak whether they purchased a book or not. They started charging for their speaking appearances. Michael and Sheena started building relationships with people in the market and helped them understand their customers’ needs and wants. 2. What motivated Michael and Sheen to start EET?- What motivated them to start EET was that they needed to get more profits to support them full time. They thought by selling more books to schools and youth groups will help them get more income. At the end, they started speaking as guest speakers and eventually EET was launched. 3. How did they determine that EET was a sound idea? Did they use a feasibility analysis? What ideas did they discard before deciding on EET?- They tried selling their ideas in a market place whether they could sell it. - Michael and Sheena used the “Economic of one unit”. - They started slowly, with scaled down version of the program. - They applied the entrepreneurial mindset to varieties of career book lines. 4. What are the key messages that the EET delivers to prospective entrepreneurs? - Entrepreneurships
- Dream action (the entrepreneurial mindset).5. Is the EET a business model that would be conductive to franchising? Why or why not? - I think yes because, EET is still growing and I think the two owners of EET has great ideas and I think EET will keep on growing and expand globally. The franchise will not be as expensive because their business plans are mostly the use of PowerPoint’s presentation slides and they make it simpler and easy to adjust their plans. 6. EET is a family business....
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