ESB Questions and Answers with
Verified Solutions
Online Networking ✔✔Each day, Donnie posts the progress of her new building to Facebook as
a countdown to opening her business. What type of networking is Donnie using?
Increase of service ✔✔Ophelia discovers her competitor's turnaround time is double her
turnaround time. What should Ophelia's new marketing strategy be to woo back her customers?
Which three things are defined when doing a self-assessment? ✔✔Risk tolerance, strengths, and
weaknesses
Which description best fits an entrepreneur? ✔✔Willing to take risks
After a self assessment, Julie realizes she has no clue how to figure out whether her restaurant is
profitable. What should Julie
do? ✔✔Get some basic accounting knowledge
Which is considered to be the largest risk of being an entrepreneur? ✔✔loss of money
,Which two characteristics best describe entrepreneurs? ✔✔Creative and adaptable
Which is considered to be a great immediate benefit of being an entrepreneur? ✔✔More
schedule control
Courage ✔✔A willingness to take risks despite possible losses
Value achievement ✔✔The desire to succeed over the desire of money
Tenacious ✔✔A willingness to see things through
Self-reliant ✔✔The ability to consistently believe in the entrepreneurial dream
Attending a Chamber of Commerce event ✔✔Sharing information with local businesses
Talking to people in a store ✔✔Face-to-face conversations
,Posting information to Facebook ✔✔Marketing to online communities
Going to a trade show ✔✔Sharing information with others in your industry
Many of Fran's customers complain about a lack of available flooring companies in the area and
that of those companies, the prices are too high. what can be a good marketing strategy?
✔✔Lower prices
Which are traits of a successful entrepreneur? There's three. ✔✔patient, confident, enthusiastic
Which entrepreneurial trait best deals with ambiguity? ✔✔patience
Todd is rejected for lack of collateral. Todd then turns to private investors in an effort to get the
business started. What entrepreneurial characteristic is Todd exhibiting? ✔✔Flexibility
In the last 10 years, Ronnie has moved five times to five different states. What about Ronnie
could hamper potential success for this business? ✔✔A lack of patience
, Besides defining strengths and weaknesses, what is the other main factor determined during a
self-assessment? ✔✔risk tolerance
After a self-assessment, Peter realizes he wants to start a plumbing business, but doesn't want to
risk a lot of his own money. What would be his best option? ✔✔Purchase an existing business
Upon researching the situation, Donnie decides to open a doggie daycare facility. Which
marketing option for this new business should be a point of emphasis? ✔✔Location
Which are considered risks of being an entrepreneur? (Three) ✔✔Long hours, financial
instability, and possibility of failure
Which are considered rewards of being an entrepreneur? (Three) ✔✔Bigger community asset,
Working the way one chooses, Better earnings
George wants to take his passion for gold and open a golf academy. What would be benefits
George could enjoy from this experience? (Two) ✔✔Financial gain and satisfaction of pursuing
his passion
Verified Solutions
Online Networking ✔✔Each day, Donnie posts the progress of her new building to Facebook as
a countdown to opening her business. What type of networking is Donnie using?
Increase of service ✔✔Ophelia discovers her competitor's turnaround time is double her
turnaround time. What should Ophelia's new marketing strategy be to woo back her customers?
Which three things are defined when doing a self-assessment? ✔✔Risk tolerance, strengths, and
weaknesses
Which description best fits an entrepreneur? ✔✔Willing to take risks
After a self assessment, Julie realizes she has no clue how to figure out whether her restaurant is
profitable. What should Julie
do? ✔✔Get some basic accounting knowledge
Which is considered to be the largest risk of being an entrepreneur? ✔✔loss of money
,Which two characteristics best describe entrepreneurs? ✔✔Creative and adaptable
Which is considered to be a great immediate benefit of being an entrepreneur? ✔✔More
schedule control
Courage ✔✔A willingness to take risks despite possible losses
Value achievement ✔✔The desire to succeed over the desire of money
Tenacious ✔✔A willingness to see things through
Self-reliant ✔✔The ability to consistently believe in the entrepreneurial dream
Attending a Chamber of Commerce event ✔✔Sharing information with local businesses
Talking to people in a store ✔✔Face-to-face conversations
,Posting information to Facebook ✔✔Marketing to online communities
Going to a trade show ✔✔Sharing information with others in your industry
Many of Fran's customers complain about a lack of available flooring companies in the area and
that of those companies, the prices are too high. what can be a good marketing strategy?
✔✔Lower prices
Which are traits of a successful entrepreneur? There's three. ✔✔patient, confident, enthusiastic
Which entrepreneurial trait best deals with ambiguity? ✔✔patience
Todd is rejected for lack of collateral. Todd then turns to private investors in an effort to get the
business started. What entrepreneurial characteristic is Todd exhibiting? ✔✔Flexibility
In the last 10 years, Ronnie has moved five times to five different states. What about Ronnie
could hamper potential success for this business? ✔✔A lack of patience
, Besides defining strengths and weaknesses, what is the other main factor determined during a
self-assessment? ✔✔risk tolerance
After a self-assessment, Peter realizes he wants to start a plumbing business, but doesn't want to
risk a lot of his own money. What would be his best option? ✔✔Purchase an existing business
Upon researching the situation, Donnie decides to open a doggie daycare facility. Which
marketing option for this new business should be a point of emphasis? ✔✔Location
Which are considered risks of being an entrepreneur? (Three) ✔✔Long hours, financial
instability, and possibility of failure
Which are considered rewards of being an entrepreneur? (Three) ✔✔Bigger community asset,
Working the way one chooses, Better earnings
George wants to take his passion for gold and open a golf academy. What would be benefits
George could enjoy from this experience? (Two) ✔✔Financial gain and satisfaction of pursuing
his passion
