ESB Questions with correct answers
Online Networking - 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 - 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? - Answer Risk
tolerance, strengths, and weaknesses
Which description best fits an entrepreneur? - 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? - Answer Get some basic accounting knowledge
Which is considered to be the largest risk of being an entrepreneur? - Answer loss
of money
Which two characteristics best describe entrepreneurs? - Answer Creative and
adaptable
Which is considered to be a great immediate benefit of being an entrepreneur? -
Answer More schedule control
Courage - Answer A willingness to take risks despite possible losses
,Value achievement - Answer The desire to succeed over the desire of money
Tenacious - Answer A willingness to see things through
Self-reliant - Answer The ability to consistently believe in the entrepreneurial
dream
Attending a Chamber of Commerce event - Answer Sharing information with local
businesses
Talking to people in a store - Answer Face-to-face conversations
Posting information to Facebook - Answer Marketing to online communities
Going to a trade show - 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? - Answer Lower prices
Which are traits of a successful entrepreneur? There's three. - Answer patient,
confident, enthusiastic
Which entrepreneurial trait best deals with ambiguity? - 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? - 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? - Answer A lack of
patience
Besides defining strengths and weaknesses, what is the other main factor
determined during a self-assessment? - 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? -
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? -
Answer Location
Which are considered risks of being an entrepreneur? (Three) - Answer Long
hours, financial instability, and possibility of failure
Which are considered rewards of being an entrepreneur? (Three) - 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) - Answer Financial
gain and satisfaction of pursuing his passion
Online Networking - 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 - 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? - Answer Risk
tolerance, strengths, and weaknesses
Which description best fits an entrepreneur? - 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? - Answer Get some basic accounting knowledge
Which is considered to be the largest risk of being an entrepreneur? - Answer loss
of money
Which two characteristics best describe entrepreneurs? - Answer Creative and
adaptable
Which is considered to be a great immediate benefit of being an entrepreneur? -
Answer More schedule control
Courage - Answer A willingness to take risks despite possible losses
,Value achievement - Answer The desire to succeed over the desire of money
Tenacious - Answer A willingness to see things through
Self-reliant - Answer The ability to consistently believe in the entrepreneurial
dream
Attending a Chamber of Commerce event - Answer Sharing information with local
businesses
Talking to people in a store - Answer Face-to-face conversations
Posting information to Facebook - Answer Marketing to online communities
Going to a trade show - 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? - Answer Lower prices
Which are traits of a successful entrepreneur? There's three. - Answer patient,
confident, enthusiastic
Which entrepreneurial trait best deals with ambiguity? - 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? - 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? - Answer A lack of
patience
Besides defining strengths and weaknesses, what is the other main factor
determined during a self-assessment? - 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? -
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? -
Answer Location
Which are considered risks of being an entrepreneur? (Three) - Answer Long
hours, financial instability, and possibility of failure
Which are considered rewards of being an entrepreneur? (Three) - 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) - Answer Financial
gain and satisfaction of pursuing his passion
