Question

quiz
sharon is thinking about opening
a bakery. she knows she wants to
set her own hours, reduce her
stress and make a profit. but she
still has a lot to think through.
which of the following would
not be a good early step?
immediately finding a storefront property for her business, putting
down a deposit, and signing a lease.
contacting a mentor who has experience in the restaurant industry.
creating an initial elevator pitch with her limited information and
starting to ask around for advice.
beginning to estimate her target market for her business.

Explanation:

• Finding a storefront, putting down a deposit, and signing a lease immediately is premature. Sharon has not yet fully planned her business, such as finalizing her business model, financial projections, etc.
• Contacting a mentor is a good step as they can provide valuable industry - specific advice.
• Creating an initial elevator pitch (even with limited information) and asking for advice helps in getting feedback and refining the business idea.
• Estimating the target market is an essential early - stage market research activity.

Answer:

Immediately finding a storefront property for her business, putting down a deposit, and signing a lease.