Being an Entrepreneur

Which is an advantage of owning a franchise?

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

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

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

• The company has wide-spread name and brand recognition

Which of these people are examples of entrepreneurs?

• Steve Jobs, Sean "Diddy" Combs, Oprah Winfrey

• Angelina Jolie, Channing Tatum, Bob Barker

• Beyonce, Justin Beiber, Zendaya

• James T. Kirk, Mr. Spock, Dr. Leonard McCoy

Why is it important for entrepreneurs to identify customers' wants and needs as they plan their businesses?

• To better obtain start-up funding from an investor

• To tell their customers what they really want and need

• To create something no other business has ever created

• To understand how to make money fulfilling those wants and needs

You should seek the advice of a trained professional to

• Get accurate and specialized information relevant to your situation.

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

• Provide funding for your idea.

• Write off their services on your income taxes.

What kind of business opportunity is started from scratch?

• A new business

• A franchise

• An existing business

• Corporate freelance business

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

• Franchise

• Internet-based business

• Home-based business

• Corporate freelance business

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

• Starting a new business from scratch

• Buying a franchise

• Buying an existing business

A successful entrepreneur is

• A troublemaker.

• A leader.

• Annoying.

• A loser.

The definition of an entrepreneur is a person who

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

• Works for a large company creating new products.

• Is active in their community and encourages business owners.

• Provides entertainment to people in a variety of ways.

Which of these is NOT a characteristic of an entrepreneur?

• Self-starter

• Risk taker

• Fearful

• Good communicator