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Question
When an entrepreneur bootstraps the purchase of a company, the entrepreneur usually puts down 10-20% in cash and then financing the remainder of the price with long-term debt paid back through the company's earnings.Answer
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First movers suffer a cost disadvantage as they are not able to move down the experience curve.
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The knowledge needed to generate innovation cannot be easily learned from a textbook.
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The U.S. Chamber of Commerce and Small Business Development Centers are good places to get information and assistance in starting a new business.
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