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 doub...
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
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