Being an Entrepreneur

1. Which of the following would NOT be a place to go to get good business advice?

• A. The Better Business Bureau

• B. An Embezzlers Anonymous Meeting

• C. A Community Workshop

• D. The Chamber of Commerce

2. Which of these is NOT a benefit of buying an existing business?

• A. Existing customers

• B. Tax debt

• C. Trained and experienced staff

• D. Existing location(s)

3. What kind of business opportunity is started from scratch?

• A. A new business

• B. An existing business

• C. Corporate freelance business

• D. A franchise

4. Which of these is NOT a characteristic of an entrepreneur?

• A. Good communicator

• B. Self-starter

• C. Fearful

• D. Risk taker

5. You should seek the advice of a trained professional to

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

• B. Get accurate and specialized information relevant to your situation.

• C. Provide funding for your idea.

• D. Write off their services on your income taxes.

6. Bigger risks can mean

• A. Bigger opportunities for success.

• B. More people will get involved.

• C. Certain failure.

• D. Bigger need for cash investment.

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

• A. Corporate freelance business

• B. Home-based business

• C. Internet-based business

• D. Franchise

8. Which is an advantage of owning a franchise?

• A. Owners spend a lot of time in the beginning getting things up and running

• B. Owners pay a large franchise fee up-front to "buy-in"

• C. Owners are locked into franchise rules, food, menu, uniforms, etc

• D. The company has wide-spread name and brand recognition

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

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

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

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

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

10. A successful entrepreneur is

• A. A leader.

• B. Annoying.

• C. A troublemaker.

• D. A loser