Chaz has an idea for a service business. It has worked well in other markets, and Chaz sees

no reason why it should not work locally. The service involves renting DVDs about colleges

and universities to high school students. The colleges Chaz has contacted are all for it, and

the students he has talked to are excited about the idea as well. However, the three banks

from which he has tried to borrow money to set up his business are skeptical. They have all

turned him down for a loan.

What entrepreneurial characteristic should kick in here if Chaz's business is going to

become a reality? Why is that characteristic so important in this situation? Why is it impor-

tant to entrepreneurs in general?

Networking will lead Chaz to other sources of finance for his business idea. It will open avenues for financial support at this crucial stage of his business. Entrepreneurs cannot succeed without networking. However, careful choice of people to network with must be exercised at all times.

Explanation:

Since the banks are not willing to support his business with loans, Chaz should deploy his networking ability to seek for finance elsewhere. Finance can come from family and friends. It can also come from venture capitalists and angel investors, when the idea is presented to them.

rowboatontario rowboatontario · Answer 2 · 2022-03-24T14:38:55+01:00

The Entrepreneurial characteristic which should kick in, if Chaz's business is going to become a reality is the Networking skills.

Networking Skills

Network skill are very important skills for an Entrepreneur, as it helps him/her in making better financial decisions and attract best of investors. In this question, Chaz has all the characterstics of an Entrepreneur but he lacks the networking with people.

It is important beause it helps in attracting investors and have secure sources of finance. It is important for an Entrepreneur because investment is the backbone of any business, and this comes when Entrepreneur has great skills of networking.

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