Being an Entrepreneur (Unit 1)

Which is an example of information you would find in researching the wants and needs of potential customers for a food-service business?

• Pink is a popular color among adolescent girls

• People like their cats and feed them expensive foods

• Most people don't like to go to the grocery store

• 1 in 133 people suffer from Celiac Disease and need to eat gluten free foods

What might be a motivation to become an entrepreneur?

• Doing paperwork

• Lack of responsibility

• Risk of financial ruin

• Be your own boss

A person doing medical billing from their den is an example of a/an

• Franchise

• Internet-based business

• Home-based business

• Corporate freelance business

You should seek the advice of a trained professional to

• Get accurate and specialized information relevant to your situation

• Provide funding for your idea

• Write off their services on your income taxes

• Help you when you don't feel smart enough on your own

The definition of an entrepreneur is a person who

• Works for a large company creating new products

• Is willing to take a risk in the hunt for new business opportunities

• Is active in their community and encourages business owners

• Provides entertainment to people in a variety of ways

A good entrepreneur will

• Put on a great show

• Change the world

• Be willing to sell their soul for success

• Find a new or unusual way of doing business

Bigger risks can mean

• Certain failure

• Bigger need for cash investment

• More people will get involved

• Bigger opportunities for success

What kind of business opportunity is like buying a business kit?

• Buying a franchise

• Buy an existing business

• Starting a new business from scratch

What kind of business opportunity is started from scratch?

• A franchise

• An existing business

• A new business

• Corporate freelance business

What is important for entrepreneurs with home-based businesses to remember?

• You should schedule lunches out of the house as a tax write-off

• You need to clearly define your "work" time and your "home" time

• You shouldn't wear your pajamas all day just because you can

• You need to work hard to build your business and make it successful