Which of the following would an entrepreneur typically not need to start a new company:Question 1Select one:a.Product or service likely to be profitable and sustainableb.Previous business experiencec.Source of start-up moneyd.A board of directors
Question
Which of the following would an entrepreneur typically not need to start a new company:Question 1Select one:a.Product or service likely to be profitable and sustainableb.Previous business experiencec.Source of start-up moneyd.A board of directors
Solution
The answer is d. A board of directors. While having a board of directors can be beneficial in providing guidance and making key decisions, it is not typically necessary to start a new company. An entrepreneur would definitely need a product or service that is likely to be profitable and sustainable (option a), some source of start-up money (option c), and while previous business experience (option b) is not absolutely necessary, it can greatly increase the chances of success. However, a board of directors (option d) is not a requirement to start a new company.
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