Business Management Entrepreneurship Quiz

A ___________ is a written document that outlines your goals and how you plan to reach those goals.

• Business plan
• Business summary
• Business description
• Business marketing

What type of business insurance protects you from damage to your equipment?

• Liability insurance

• Property insurance

• Health Insurance

• Professional insurance

What does it mean to figure out what your platform will be?

• Identify what your specific policies will be

• Identify how you will take payment

• Identify where your business will live online

• Identify how you will ship your product

Why is it important to have a time limit on your goals?

• You have to be able to measure your goals

• You don’t want to use someone else’s goals

• It gives you a definite date to work toward

• It helps you increase your profits by 15%

When hiring staff, what is a good trial period to make sure they are the right person for the job?

• 30-day

• 90-day

• 60-day

• 100-day

What is the best advice to keep in mind as you grow your business?

• Grow at the speed of cash

• Grow as quickly as you can

• Hire extra help so you can make more money

• Use debt to help you grow faster

You need goals that you set specifically for your business, rather than using someone else’s goals as yours.

• True

• False

Strong goals do not need to have a time limit.

• True

• False

Keeping your receipts in a shoebox is a great way to handle accounting for your business.

• True

• False

Social media contests can help increase your sales.

• True

• False