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WorksheetsBizInnovator Startup - Intro
Total questions: 13
Worksheet time: 8mins
Name
Class
Date
1.
Pick the best definition for: Entrepreneur
a)
an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
b)
a temporary organization that searches for a repeatable and scalable business model
c)
Started to fill a gap or provide a service, be your own boss
d)
a formally educated individual who invests in small businesses
2.
Pick the best definition for: Startup
a)
a temporary organization that searches for a repeatable and scalable business model
b)
an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
c)
Started to fill a gap or provide a service, be your own boss
d)
a formally educated individual who invests in small businesses
3.
Pick the best definition for: Small Business
a)
Started to fill a gap or provide a service, be your own boss
b)
an individual who creates a new business, bearing most of the risks and enjoying most of the rewards.
c)
a temporary organization that searches for a repeatable and scalable business model
d)
a formally educated individual who invests in small businesses
4.
Pick two essential characteristics of successful entrepreneurs.
a)
Passionate and Determined
b)
Profit-Oriented and Independent
c)
Formally Educated and Driven
d)
Extroverted and Aggressive
5.
Dante's business is called Sock Nation. He and his team sell customized socks and slippers and donate a pair of shoes for every ten pairs of socks sold. Their priorities are satisfying an unmet need in the marketplace for custom socks and improving society. Their goals or vision includes expanding their product lines and customer segments as well as the magnitude of their social improvements. What type of entrepreneur would best describe Dante?
a)
Social Entrepreneur
b)
Hobby Entrepreneur
c)
Climate/Green Entrepreneur
d)
Generic Entrepreneur
6.
Keira's business is called Sustainable Slabs. She and her team sell cutting boards and decorative wood products from reclaimed or recycled wood. Their priorities are creating beautiful home products through sustainable methods. Their goals or vision includes expanding to other products sourced from reclaimed natural resources. What type of business would best describe Keira's Sustainable Slabs?
a)
Climate/Green Entrepreneur
b)
Social Entrepreneur
c)
Hobby Entrepreneur
d)
Generic Entrepreneur
7.
True or False: The Business Plan and Business Model Canvas are static documents that are written early in the planning phase.
a)
false
b)
true
8.
True or False: The Business Plan is a visual summary of the business model, often on one page.
a)
false
b)
true
9.
The ______________________ is/are often required by potential investors, lenders, and other financial stakeholders prior to investing money or other assets into the new business venture.
a)
Business Plan
b)
Business Model Canvas
c)
Business Plan & Business Model Canvas
d)
Executive Summary
10.
Select all of the following that are NOT part of a Business Model Canvas:
i. Executive Summary
ii. Advertising Strategy
iii. Value Proposition
iv. Profit Analysis
v. Customer Relationships
a)
i, ii, iv
b)
i, iii, v
c)
i, iv, v
d)
ii, iv, v
11.
Select all of the following that are NOT part of a formal business plan:
i. Executive Summary
ii. Marketing Plan
iii. Owner Resume
iv. SWOT Analysis
v. Individual Credit Report
a)
iii, v
b)
ii, iii
c)
i, iv
d)
iii, iv
12.
Which of the following is the primary objective of the early stage entrepreneurial pitch?
a)
All of the above
b)
Information sharing
c)
To measure interest
d)
To gather feedback
13.
Early stage startups spend significant time doing the following (select all that apply):
i. Finding the customer(s)
ii. Understanding the problem
iii. Selling
iv. Going to the bank/seeking investors
v. Creating partnership agreements
a)
i, ii
b)
i, iii
c)
ii, iv
d)
i, v
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