• LOOKKING AHEAD After studying this chapter, you should be able to 1. Identify five factors that determine whether an idea is a good investment opportunity. 2. Give three reasons for starting a new business rather than buying an existing firm or acquiring a franchise. 3. Distinguish among the different types and sources of startup ideas. 4. List some reasons for buying an existing business. 5. Summarize three basic approaches for determining a fair value for a business. 6. Describe the characteristics of highly successful startups.