Entrepreneurship - Chapter 1 - Sections 1.3 & 1.4

An opportunity is a thought or concept that comes from creative thinking.

• True

• False

Analyzing past experiences and jobs is a good way to come up with a business idea.

• True

• False

You can learn about business opportunities by talking to other entrepreneurs.

• True

• False

Assessing different business opportunities helps you identify those that have the best chance for success.

• True

• False

It is not necessary to determine how much money it will take to start a business because you will be able to borrow the money you need.

• True

• False

To decide whether or not a business opportunity is realistic for you, compare your background and experience with the experience of people who own that kind of business.

• True

• False

A SMART goal is specific, measurable, attainable, realistic, and timely.

• True

• False

Financial goals may include how quickly you can pay off your debts.

• True

• False

Nonfinancial goals are only for entrepreneurs who are solely interested in financial gain.

• True

• False

The best entrepreneurs use a formal problem-solving model to make decisions.

• True

• False