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ESB - Domain 1 Lesson 1 & 2 Questions and Answers 100% correct
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ESB - Domain 1 Lesson 1 & 2__________ is the amount of loss one is willing to take when making an investment
decision. - answer Risk Tolerance
Having a __________ mindset means believing that one can accomplish anything
through hard work. - answer Growth
An example of an __________ risk is a natural disaster. - answer Environmental
A business opportunity is an __________ that lets a buyer start a business. - answer
Investment
A __________ needs to be obtained to use a brand name on products. - answer
License
The five factors that determine the viability of a business opportunity are __________,
relationships, cash flow management, management skillsets, and passion. - answer
Market size
A business plan helps a business achieve short-term and long-term __________. -
answer Goals
A lean canvas should only be __________ long. - answer One page
The __________ summary creates the first impression of a business plan. - answer
Executive
The __________ plan should specifically be directed to investors and lenders. - answer
Financial
A pitch deck is most commonly presented in the form of a __________ presentation. -
answer Slide
A __________ and value proposition provides a brief overview of a business where one
talks about the company's mission and the value provided to customers. - answer
Vision
A patent protects an __________ from being copied. - answer Invention
Trade secrets protect a company's formulas from being shared with __________. -
answer Competitors
, To license a product, one must obtain __________ from the author or creator. - answer
Authorization
Confidentiality or __________ agreements are signed by employees, agreeing not to
share trade secrets. - answer Non-disclosure
Name three characteristics of a successful entrepreneur and explain why that skill
would be helpful when starting a business. - answer Empathy
Dedication
Critical thinking
Name one example of a political risk that an entrepreneur might face. - answer
Increased tax rates
Name one example of an environmental risk that an entrepreneur might face. - answer
Natural disaster
Name one example of a financial risk that an entrepreneur might face. - answer
Bankruptcy
Which business opportunity involves recruiting marketers to join a team? - answer
network marketing
Which business opportunity involves higher start-up costs? - answer franchise
Which business opportunity obtains licenses to use a brand name? - answer
licensing
Which viability factor involves the potential funding of a business opportunity? - answer
managing cash flow
Which viability factor involves building relationships with experienced professionals? -
answer relationships
Which viability factor can help an entrepreneur make up for a lack of skills? - answer
passion
Which viability factor analyzes the skills of employees? - answer Management
skillset
Which viability factor researches the demand for products or services? - answer
market size
What is the purpose of a pitch deck? - answer attracting investors, getting them
excited, and getting another meeting with them
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