Generating Business Ideas

Most entrepreneurial ventures will be very small and:

• are planned to remain that way.

• will grow to be worth billions of dollars.

Some new businesses are designed to expand rapidly and:

• will require almost no startup capital. 
• might require millions of dollars in startup capital. 

Lonnie Johnson invented the Super Soaker and licensed the product to the Hasbro toy company. He earned over $200 million from his invention because he was able to obtain a:

• patent
• coupon

Evan Spiegel co-founder of Snapchat made $272 million on the day of his company’s IPO in 2017. This is an example of a:

• harvest plan
• consumer plan

Rapidly expanding entrepreneurial ventures are:

• far more risky than the average small business. 
• less risky than the average small business.

Most small businesses require little startup capital and will be:

• funded by venture capitalists.       
• funded by the owner.

This is issued a government agency for a new invention will protect the invention from competition for a period of 20 years.

• patent
• copyright

Most businesses are designed to be

• large businesses with more than 100 employees.
• small businesses with fewer than 20 employees. 

When generating ideas for entrepreneurship, you should consider which of the following:

• your hobbies
• your skills
• your work experience
• all of these should be considered

Millions of tons of harmful electronic waste enters landfills each year, if you are passionate about preserving the environment, you might be interested in starting a:

• recycling business. 
• pet care business
• lawn care business
• cabinet making business