Starting a business

Which of the following are characteristics of successful entrepreneurs?

• Creative, work hard, self-confident
• Goal-oriented, will to work while others play, highly motivated to succeed
• Strong desire to have control, high energy levels
• All of the Answers

The 3 basic ways to start a business are to?

• analyze the competition, buy a building, or join a professional association
• buy an existing business, buy a franchise, start a business from scratch
• work for parents, get ideas from friends, join chamber of commerce
• All of the Answers

The purpose of a business plan is to?

• describe how a business will operate
• guide development of the business
• obtain a loan
• All of the Answers

Market segmentation is NOT important when planning a new business

• True
• False

An advantage of entrepreneurship is that you determine your work schedule

• True
•  False

Entrepreneurship sometimes experiences large financial losses

• True
•  False

Has the unemployment rate been going up or down over the last 4 years?

• Up

• Down

What is the prime interest rate in the US

• 4%

• 6%

• 12%

• 2.5%

How many small businesses are in the US in 2018?

• 16 Million

• 30.2 Million

• 5 Million

• 68 Million

What is a great way to come up with ideas

• Barnstorming

• Brainstorming

• Brain games