TUTORIAL 8

Research has confirmed that entrepreneurs are motivated intrinsically by such things as the desire for _

• wealth

• independence

• growth

• power

When it comes to the Inc. 500 Fastest Growing Private Companies, the ____ is not a predictor of ultimate success.

• size of the team

• size of the market

• amount of startup capital

• degree of risk

• desire for independence

Most of the great businesses that have been successful for at least 50 years (companies such as Walt Disney, Sony, and Merck) did not start with a/an

• lot of money

• need for independence

• great idea

• great team

• original idea

The goal of most entrepreneurs is to reduce the level of ____ in any venture.

• investment

• independence

• planning

• risk

• resources

In general, venture capitalists say that they will take a ____ and a large market opportunity in a fast-growing area over a great idea any day

• big risk

• strong business plan

• passionate entrepreneur

• strong leader

• great team

An entrepreneur who owns a minority or majority stake in several ventures is called a ____ entrepreneur.

• portfolio

• traditional

• serial

• nonprofit

A very specific task that an entrepreneur can undertake to prepare for success is to find/be a ____.

• network

• mentor

• self-starter

• leader

____ is the exchange of information and resources among individuals, groups, or organizations whose common goals are to mutually benefit and create value for the members.

• Business planning

• Marketing

• Mentoring

• Networking

Which of the following is not a barrier to becoming self-employed?

• Lack of confidence

• Financial needs

• Family issues

• Time constraints

• Lack of training

____ is a critical part of the everyday life of an entrepreneur and is a skill that must be developed and exercised carefully.

• Making effective decisions

• Paying attention to details

• Comparing potential outcomes

• Critical thinking