Entrepreneurship

Front

What have we discussed being the most important thing for an entrepreneur to have?

Back

A great idea (and a passion for it)

Front

In order to be an entrepreneur, you must start a new business from scratch.

Back

False - you can buy an already established business

Front

Which of the following MUST an entrepreneur accept when starting his/her own business? Visa or Mastercard, Working weekends, Small business taxes, Risks

Back

Risks

Front

What does an entrepreneur want as soon as possible from her/his business (most important thing)?

Back

Profit

Front

A good leader can positively influence his/her co-workers to achieve a _____?

Back

goal

Front

Which of the following is a reason a small business might go out of business? The product is in very high demand, Employees stick around and learn the business, Revenues exceed costs, Not enough revenues to pay overhead costs, such as rent

Back

Not enough revenues to pay overhead costs, such as rent

Front

"A vision for something that appeals to a lot of potential customers" applies to:

Back

a great product idea

Front

What could be an advantage to keeping existing employees when buying a business that has already been established?

Back

They know the business and can possibly keep things running smoothly

Front

A new company's business plan contains its goals and objectives - and the strategies to achieve them. It is like a:

Back

roadmap

Front

If an entrepreneur understands the life cycle of his/her product, and manages this efficiently, she/he will have solid:

Back

inventory control