Risky VentureCheri did not give up. She eventually found a developer who would help get her business off the ground if she was able to raise $38,000. But as a 23 years old, it wasn't easy coming up with $38,000 for inventory. She was able to borrow money for a new idea can be super risky. Cheri remembers, "I had to take the risk of borrowing $20,000 from two different people, when I didn't even make that much in a year." However, the extra pressure to succeed made sure made sure that she that took that risk head on. "Some people say, 'the greater the risk, the greater the return.' I don't believe that. I say, 'the greater the risk, the harder you should work.'"What risks did Cheri Garcia face with trying to launch Luminous Envy? Select all that apply.a. She saw a valid opportunity in the tanning market.b. She needed a large sum of startup funding.c. She got national media exposure.d. She borrowed money from family. Inspiration StrikesAt 21, Cheri Garcia was originally planning to pursue a career in newsbroadcasting, but her entrepreneurial spirit pulled her to become an Inventor.She first drew inspiration while swimming with her family. While hoping toget a suntan that day, she wished there was a way she could acceleratethe tanning process, without having to use suntan oil. This lead Cheri toher invention: the first-ever tanning bedyou can inflate, deflate, and take withyou. By 23, Cheri had started, and wasoperating her business, Luminous Envy(www.luminousenvy.com). LuminousEnvy has since been picked up by "AsSeen On TV", Leslie's Pool, and manyother pool supply retailers. However,her quick path to success was not freeof challenges.Cheri Garcia.After inspiration for her portable tan-ning bed struck, Cheri started sketchingthe vision for her product. From thesesketches, she came up with the designfor the Luminous Envy tanning bed,making it inflatable, and with a reflective material on the bottom andangled side panels to maximize results. She was extremely excited abouther idea and was ready to market it to developers who would make it forher. However, there was one problem, "I called every factory in America,"Cheri said. "Nobody would touch it without $100,000 up front." Cheri's risk paid off. After making a first batch of 1,000 beds, shequickly gained national attention and media buzz for her invention. Withthe exposure to a larger customer and investor base, her business tookoff. She continued to grow her business and obtained the patent rights in2013. Her $38,000 risk paid off, allowing her to make ten times whatshe did as an employee of a business.Risk with Unexpected RewardsCheri's experience with Luminous Envy has given her credability to pursuenumerous other opportunities. Since then, she has started several otherbusinesses. This has included inventing an apartment evaluation app calledRentEval (http://www.renteval.com/). Her new inventions have given hermedia buzz, including a segment on the Steve Harvey show. She has alsoused her new ventures to help her on the path to her ultimate goal of becom-ing a motivational speaker and invention consultant. Cheri said of her goals,"I not only want to motivate, but INSPIRE others to realize their passionand take risks to achieve their goals. It is my personal challenge to be apart of helping others make their wildest entrepreneur dreams come true!"

Question

Risky VentureCheri did not give up. She eventually found a developer who would help get her business off the ground if she was able to raise $38,000. But as a 23 years old, it wasn't easy coming up with $38,000 for inventory. She was able to borrow money for a new idea can be super risky. Cheri remembers, &#34;I had to take the risk of borrowing $20,000 from two different people, when I didn't even make that much in a year.&#34; However, the extra pressure to succeed made sure made sure that she that took that risk head on. &#34;Some people say, 'the greater the risk, the greater the return.' I don't believe that. I say, 'the greater the risk, the harder you should work.'&#34;What risks did Cheri Garcia face with trying to launch Luminous Envy? Select all that apply.a. She saw a valid opportunity in the tanning market.b. She needed a large sum of startup funding.c. She got national media exposure.d. She borrowed money from family. Inspiration StrikesAt 21, Cheri Garcia was originally planning to pursue a career in newsbroadcasting, but her entrepreneurial spirit pulled her to become an Inventor.She first drew inspiration while swimming with her family. While hoping toget a suntan that day, she wished there was a way she could acceleratethe tanning process, without having to use suntan oil. This lead Cheri toher invention: the first-ever tanning bedyou can inflate, deflate, and take withyou. By 23, Cheri had started, and wasoperating her business, Luminous Envy(www.luminousenvy.com). LuminousEnvy has since been picked up by &#34;AsSeen On TV&#34;, Leslie's Pool, and manyother pool supply retailers. However,her quick path to success was not freeof challenges.Cheri Garcia.After inspiration for her portable tan-ning bed struck, Cheri started sketchingthe vision for her product. From thesesketches, she came up with the designfor the Luminous Envy tanning bed,making it inflatable, and with a reflective material on the bottom andangled side panels to maximize results. She was extremely excited abouther idea and was ready to market it to developers who would make it forher. However, there was one problem, &#34;I called every factory in America,&#34;Cheri said. &#34;Nobody would touch it without $100,000 up front.&#34; Cheri's risk paid off. After making a first batch of 1,000 beds, shequickly gained national attention and media buzz for her invention. Withthe exposure to a larger customer and investor base, her business tookoff. She continued to grow her business and obtained the patent rights in2013. Her $38,000 risk paid off, allowing her to make ten times whatshe did as an employee of a business.Risk with Unexpected RewardsCheri's experience with Luminous Envy has given her credability to pursuenumerous other opportunities. Since then, she has started several otherbusinesses. This has included inventing an apartment evaluation app calledRentEval (http://www.renteval.com/). Her new inventions have given hermedia buzz, including a segment on the Steve Harvey show. She has alsoused her new ventures to help her on the path to her ultimate goal of becom-ing a motivational speaker and invention consultant. Cheri said of her goals,&#34;I not only want to motivate, but INSPIRE others to realize their passionand take risks to achieve their goals. It is my personal challenge to be apart of helping others make their wildest entrepreneur dreams come true!&#34;

Accepted Answer

Since Cheri opened a luminous envy store to solve the tanning process. Where people just use the bed…

What risks did Cheri Garcia face with trying to launch Luminous Envy? Select all that apply. a. She saw a valid opportunity in the tanning market. b. She needed a large sum of startup funding. c. She got national media exposure. d. She borrowed money from family.