Identifying Who the Potential Customer Is Will Help the Entrepreneur

question 4

Multiple Choice

Identifying who the potential customer is will help the entrepreneur

• A) conclude that their product is really a product for everyone, everywhere.
• B) devise a strategy which will get the product to each and every person, regardless of cost.
• C) identify serious customers who are actively looking for solutions in the early stages of the business.
• D) discourage momentum in the later stages of business.

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Definitions:

Chapter 11

A provision of the United States Bankruptcy Code that allows businesses to reorganize and restructure their debts under the supervision of the court.

Automatic Stay

A legal provision that halts actions by creditors, with certain exceptions, to collect debts from a debtor who has declared bankruptcy.

Collection Proceedings

The legal process initiated by creditors to recover debts from borrowers through formal legal actions, including lawsuits, garnishments, and property liens.

Order for Relief

A court order in bankruptcy proceedings that gives the petitioner protection from creditors and approves the commencement of bankruptcy processes.