Overview of Entrepreneur

Which of the following is not a persistent myth about entrepreneurs? 

• Leaders are born, not made 
• Entrepreneurs are gamblers 
• Solo entrepreneurs limit their potential for growth 
• Entrepreneurs should be young and energetic 

Successful entrepreneurs are not gamblers; they take

• Calculated risks
• Risk
• Major risks

Failure is part of the dynamics of innovation and economic renewal. 

• True
• False

Which of the following is NOT true

• Entrepreneurship is the process of getting into and operating a business of one’s own.
• Entrepreneurship is the process of starting, opening and growing a business.
• Entrepreneurs are the mechanism by which our economy turns supply into demand. 
• Most entrepreneurs find themselves working long hours, especially during the start-up period of the business.

Entrepreneurs who continually look for new ways to solve problems are 

• Persistent
• Creative
• Self-demanding
• Independent

Which is NOT a characteristic of entrepreneurs?

• Motivation to excel
• Strong self-reliance (locus of control)
• Creative and adaptable
• Domineering manager

What is the criteria for a small business?

• Under 200 employees
• Under 100 employees
• Under 50 employees

What is a microbusiness?

• Has great prospects for growth
• Provides substantial profits to its owner
• Provides minimal profits to its owner
• Permits the owner to follow a desired pattern of living

What percentage of overall employees to small business employ?

• 99.7%
• 50%
• 43%
• 97.3%

Which of the following questions is NOT a good one to ask if you are trying to determine of owning a small business is a good fit for you?

• Am I passionate about my product or service?
• Am I willing to take on numerous responsibilities?
• Will I be able to avoid burnout?
• Am I excited about managing a lot of people?