FORTUNE 500 ENTREPRENEURS QUIZ QUESTIONS

What is the primary purpose of a Business Model Canvas?

• To track customer feedback

• To outline a business's structure and strategy

• To analyze market competition

• To raise funds for the business

Which of the following is NOT a key component of the Business Model Canvas?

• Customer Segments

• Key Partners

• Advertising Strategy

• Revenue Streams

Which of these is a critical characteristic of a successful entrepreneur?

• Ignoring failure

• Stubbornness

• Risk tolerance and adaptability

• Disregarding feedback

What does the term ‘bootstrapping’ mean in entrepreneurship?

• Raising funds through external investors

• Using personal savings to finance the business

• Borrowing money from family and friends

• Selling equity to raise funds

Which of the following is the key focus of ‘market penetration’ strategy?

• Entering new international markets

• Increasing sales and market share in existing markets

• Reducing product prices

• Introducing new products to existing markets

Which of these best defines ‘disruptive technology’?

• Technology that improves existing products

• Technology that creates new industries or markets

• Technology that focuses on user experience

• Technology that improves employee productivity

What is the ‘burn rate’ of a business?

• The rate at which a business acquires customers

• The rate at which a company spends its cash reserves

• The rate at which a company generates profits

• The rate at which a business grows its market share

Which is a key principle in scaling a startup business?

• Expand to as many markets as possible immediately

• Focus on customer feedback to refine products and services

• Hire as many employees as possible

• Spend all capital on marketing

Which of the following describes an ‘angel investor’?

• A venture capitalist who invests in public companies

• A wealthy individual who provides seed capital to startups

• A government entity that funds small businesses

• A bank that offers loans to entrepreneurs

In which of these cases would an entrepreneur likely seek funding from a venture capital firm?

• When the business is in its ideation phase

• When the business requires a small loan for operational costs

• When the business needs substantial capital to scale rapidly

• When the business is struggling to pay off personal debts