Starting A Small Business

Which section of the business plan identifies a target market?

• A. Marketing and sales

• B. Organization and management

• C. Market analysis

• D. Service and/or product line

The phenomenon demonstrating individuals desire to get along and avoid conflict is known as which of the following?

• A. Crowd concept

• B. Groupthink

• C. Dissonance repression

• D. Controversy avoidance

Which section of the business plan should be the bulk of the plan?

• A. Marketing and sales

• B. Organization and management

• C. Market analysis

• D. Service and/or product line

Which type of market test engages the snowball effect?

• A. Focus groups

• B. Surveys

• C. Networking

• D. Interviewing

Which section of the business plan discusses how owner(s) plan to enter the industry and grow the business?

• A. Marketing and sales

• B. Organization and management

• C. Market analysis

• D. Service and/or product line

What is the first and primary question you should ask yourself before starting a small business?

• A. Am I business savvy

• B. Where will I get the money

• C. Where should my business be located

• D. Do I have what it takes

When starting a new business, you should be prepared for which of the following?

• A. Six-hour workdays four to five days each week

• B. Eight-hour workdays five to six days each week

• C. Ten-hour workdays five to six days each week

• D. Twelve-hour workdays six to seven days each week

According to the segment, which of the following is NOT a question asked in the strategy and development process?

• A. Who will the business serve

• B. What is the businesses vision and mission

• C. Where will we buy equipment

• D. How is the brand going to be developed

According to the segment, which of the following was NOT an issue in taking over a business?

• A. Market share

• B. Discretion

• C. Selling price

• D. Financing

Money needed to expand for additional inventory, equipment, marketing cost, employees, etc. is known as which of the following?

• A. Competitive risk

• B. Market analysis

• C. Marketing

• D. Expansion capital