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WorksheetsFoundations of Entrepreneurship-Module 4
Total questions: 31
Worksheet time: 16mins
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%
Writing down your goals will do what for you?
Hold you accountable
Help you remember them
Keep them in front of you
All of these
In addition to being yours and written down, strong goals must have what three qualities?
Specific, meaningful, and have a common thread
Singular, measurable, and have a foundation
Singular, meets a need, and have a time limit
Specific, measurable, and have a time limit
Which of the following questions is NOT something to be concerned about when hiring an employee?
Is this a part-time or full-time position?
How will you handle overtime, holidays, sick time, and vacations?
How often will you pay an employee?
How often will you provide a free lunch?
Starting small in your business means you may NOT be able to:
Build a loyal customer base
Establish your business name
Hire more people right away
Develop a good reputation
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
"I will create three jewelry pieces to sell each week for the next month for a total of twelve new pieces," is an example of a strong goal.
True
False
Military-grade encryption means that only someone in the military can read it.
True
False
Social media contests can help increase your sales.
True
False
When you grow slowly, you are more likely to make mistakes or waste resources.
True
False
Anytime you're working with, handling, and selling food, you have to be aware of health and safety matters.
True
False
Brick-and-mortar refers to a permanent building.
True
False
Every business should have a written business plan.
True
False
The description of the purpose of your business.
Mission statement
Vision statement
Marketing strategy
Business plan
A detailed description of how you will do business.
Business plan
Executive summary
Mission statement
Marketing strategy
This will keep electronic copies of all your important paperwork.
Accounting system
Document management system
Internet
Business plan
Insurance that protects you in the event you harm someone or damage any of their stuff.
Health insurance
Professional insurance
Property insurance
Liability insurance
This will keep track of all your business money.
Accounting system
Document management system
Internet
Business plan
What is so great about setting goals?
They help you manage your money
They help make your dream, vision and mission actually possible
They do all the work for you
All of these
What do your goals say?
"I exist to"
"I want"
"I am"
"I will"
Which of the following items is NOT something good business policies do?
Communicate your hours of operation
Keep track of your sales figures
Teach customers how to do business with you
Explain how you will hande returns and cancellations
Generosity is often described as...
The most fun you can have with money
A hard thing to do because we like money
Giving away your hard-earned money
The most painful thing you can do with money
When you're generous for the benefit of others...
People want more of your money
You have less money
People notice
You aren't recognized
Being generous allows others to see ________.
There's more to you than just your good looks
There's more to you than just your athletic ability
There's more to you than just making music
There's more to you than just making money
