Flexibility - correct answer Ability to adapt, willingness to change
Courage - correct answer Takes risks in spite of possible losses
Empathy -
... [Show More] correct answer Sensitive to thoughts and feelings of others
What are three characteristics of entrepreneurs? - correct answer Creativity, Determination, Enthusiasm
After a self-assessment, a potential entrepreneur has learned that she has a very low risk tolerance. Based upon this finding, which approach might be less stressful for the entrepreneur to have her own business? - correct answer Buy an existing business that is already successful.
An entrepreneur moves into a small town and notices several stores selling guns and ammunition. The entrepreneur loves to compete in competitive shooting events. Based on the scenario provided, what should be emphasized in marketing to attract customers? - correct answer Location
An entrepreneur has been working for a flooring business in a neighboring town. He feels he is ready to open his own flooring business in his local community. Which should be emphasized in marketing to attract customers to his new business? - correct answer Lower Prices
Which is one of the greatest benefits of entrepreneurship? - correct answer Being your own boss
Which are three risks of entrepreneurship? - correct answer Long hours, potential business failure, financial insecurity
Gabe has worked as a journeyman electrician for an employer for the past 16 years. He is paid a good salary. His only dissatisfaction is the hours are long and often when he requests time off he is denied because of customer workload.
Which benefit of entrepreneurship will Gabe most enjoy? - correct answer Autonomy
What is a primary benefit of starting a new business without purchasing a franchise or buying an existing business? - correct answer Developing your own rules
A mechanic just graduated from motorcycle repair school and wants to start a business because there is a lack of motorcycle repair shops in the local town. Given the facts provided, which opportunity would be the best choice for the motorcycle mechanic to open a business? - correct answer Start a new business and invest $50,000 in modern diagnostic tools.
An entrepreneur who has a hobby in leathercraft wants to turn it into a business. She wants to sell purses, belts, and other leathercrafts from her home. Which opportunity for starting a leathercraft business would have the highest probability of success? - correct answer Build an online storefront
Based upon the education and skills gained from the years of vocational training as an auto mechanic, as well as having grown up in a family of entrepreneurs, a young adult decides to open an auto mechanic shop. Which customer group will this new auto mechanic business support? - correct answer Businesses
The owner of a pizza delivery business is seeking new customers. The owner has identified a group of potential customers that have moved into some new housing within reaches of his drivers. Which method of segmentation is the owner using? - correct answer Geographic
A child daycare center needs to identify a value of proposition that will help parents feel secure about using their services. Which two initiatives meets this objective? - correct answer Providing live web cams parents can access from the Internet by using a secure logon. Offering a list of references from other parents
The owner of a pet daycare is presenting a plan to investors to expand the facility and promises the center will meet the needs of customers with a variety of schedules. What is a legitimate value proposition for potential customers? - correct answer Providing extended hours to pickup and drop off pets before and after work
Which two groups benefit most from a well-written business plan? - correct answer Business owner
Investors
Which of the following should be addressed in the description section of a business plan? - correct answer Target Markets
Easy to setup, but has unlimited liability. - correct answer Sole Proprietorship [Show Less]