ESB Exam Study Guide

Which is one of the greatest benefits of entrepreneurship?

• Working in an enterprise you're passionate about

• Meeting new people

• Paying less taxes

• Quick return on investment

Which are three risks of entrepreneurship? (Choose three)

• Lack of motivation

• Isolation from meeting people

• Financial insecurity

• Potential business failure

• Long hours

The type of entrepreneurial behavior that Toni has been exhibiting can best be described as:

• computer literacy

• determination

• comfort engaging with team members

• pessimism

A child daycare center needs to identify a value proposition that will help parents feel secure about using their services. Which two initiatives meets this objective? (Choose two.)

• Offering free snacks to the children

• Providing parents access to the activity schedule

• Responding to email inquiries within 24 hours.

• Offering a list of references from other parents

• Providing live web cams parents can access from the Internet by using a secure logon

The owner of a pet daycare is presenting a plan to investors to expand the facility and promises the center will meet the needs of customers with a variety of schedules. What is a compelling value proposition directly related to customers with different schedules?

• Providing extended hours to pickup and drop off pets before and after work

• Adding live web cams so customers can view their pets from work

• Providing a variety of organic pet foods during their stay

• Developing interactive website for customers

Which two groups benefit most from a well-written business plan? (Choose two)

• Distributors

• Suppliers

• Business owner

• Potential customers

• Investors

The government agency that helps start-ups will small business advice and resources is:

• the Secretary of State

• the Small Business Administration

• the Franchise Board

• the Internal Revenue Service

What is the amount of start-up capital the partners will need to open the new awning repair business?

• $29,200

• $32,120

• $84,920

• $85,920

Partners of a small web-site development company are identifying milestones that will measure growth of their business during its first year. What should the partners measure to help track the growth of the business during the first year?

• Revenue

• Expenses

• Assets

• Liability

An HVAC repairman has been operating his own business for three years. Demand for his services is growing and he is finding it difficult to keep up with customer visits. He decides to hire an assistant who can successfully meet the additional work load. The assistant must be dependable and able to work independently. The HVAC repairman has identified the skills required for the assistant position, written a job description, and has posted the ad. Response to the ad is strong and several candidates have applied for the position. Which factor will help the HVAC repairman choose the best candidate that meets his human capital need?

• Whether the candidate can relocate

• Whether the candidate shows a "mission-driven" mentality during the job interview

• Whether the candidate agrees to stay on the job for more than a year

• Whether there is enough business income to pay for an assistant