Online Networking - CORRECT ANSWER-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 - CORRECT ANSWER-Ophelia discovers her competitor's turnaround time is double her turnaround...
ESB Quiz with Answers 100% Correct ( 167 sets)
Online Networking - CORRECT ANSWER-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 - CORRECT ANSWER-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? - CORRECT
ANSWER-Risk tolerance, strengths, and weaknesses
Which description best fits an entrepreneur? - CORRECT ANSWER-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? - CORRECT ANSWER-Get some basic accounting knowledge
Which is considered to be the largest risk of being an entrepreneur? - CORRECT
ANSWER-loss of money
Which two characteristics best describe entrepreneurs? - CORRECT ANSWER-
Creative and adaptable
Which is considered to be a great immediate benefit of being an entrepreneur? -
CORRECT ANSWER-More schedule control
Courage - CORRECT ANSWER-A willingness to take risks despite possible losses
Value achievement - CORRECT ANSWER-The desire to succeed over the desire of
money
Tenacious - CORRECT ANSWER-A willingness to see things through
Self-reliant - CORRECT ANSWER-The ability to consistently believe in the
entrepreneurial dream
Attending a Chamber of Commerce event - CORRECT ANSWER-Sharing
information with local businesses
Talking to people in a store - CORRECT ANSWER-Face-to-face conversations
Posting information to Facebook - CORRECT ANSWER-Marketing to online
communities
Going to a trade show - CORRECT ANSWER-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? - CORRECT ANSWER-Lower prices
Which are traits of a successful entrepreneur? There's three. - CORRECT
ANSWER-patient, confident, enthusiastic
Which entrepreneurial trait best deals with ambiguity? - CORRECT ANSWER-
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? -
CORRECT ANSWER-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? - CORRECT ANSWER-A
lack of patience
Besides defining strengths and weaknesses, what is the other main factor
determined during a self-assessment? - CORRECT ANSWER-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? -
CORRECT ANSWER-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? -
CORRECT ANSWER-Location
Which are considered risks of being an entrepreneur? (Three) - CORRECT
ANSWER-Long hours, financial instability, and possibility of failure
Which are considered rewards of being an entrepreneur? (Three) - CORRECT
ANSWER-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) - CORRECT ANSWER-
Financial gain and satisfaction of pursuing his passion
Phyllis opens a new pet store in a growing area of town but the new store fails and
closes after a year. How should Phyllis best handle this? - CORRECT ANSWER-
Evaluate why the business failed and use the knowledge for the future
Rey often is dissatisfied with the stagnation of her job and wants to open her own
transportation service. Which benefit of entrepreneurship will be the biggest one for
Rey? - CORRECT ANSWER-Autonomy
Which are the three reasons to buy a franchise instead of starting a new business? -
CORRECT ANSWER-Proven business model, guaranteed income, easier to finance
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