Conducting an Entrepreneurial Audit

Discuss the specific path taken for this business and the appropriateness of the legal form. (whether this is a high tech, global, franchise, family, acquired, or started from scratch, etc.; and whether this is a sole proprietorship, corporation, etc.).

Did the company start with a formal business plan? Did they commit or avoid the common mistakes? Discuss the implications

How effectively does the company manage its employees, management, systems and processes? Is the company proactive/reactive in responding to change and innovation?

Have they ever experienced failure? If so, what did they learn from it?

Discuss and evaluate their business model and competitive strategy.

Identify the life cycle stage of the company and its current profitability.