(6 pages of text)
In 2014, the co-founder of a new business needs to develop a solid business case for the value of her new software application, Bridgit. Focused on reducing construction delays due to poor deficiency management, Bridgit's software enables project managers to eliminate wasted resources (e.g., time, money, relationship capital) by delivering an easy-to-use software solution. Determining the value of Bridgit in the absence of meaningful numbers creates a challenge: ask for too much and lose your investment; ask for too little and appear naive or give up too much.
This case reflects how the financing of a small business occasionally works. It provides students with an effective window into various important aspects of entrepreneurship, including the following:
- The imperfect art and science of business valuation.
- Key behaviours of entrepreneurs.
- How to best approach the development of a viable business idea.
- The reality making critical financial decisions without proper information.
- Many of the risks faced when deciding to start up a business.
- Market-entry protection.
Canada, Small, 2014
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