WorksheetsStartup 101
Total questions: 8
Worksheet time: 4mins
What is the definition of a startup?
An unincorporated business where the owner pays own income tax from profits
Founded to develop a product/service that entrepreneurs believe has demand
Buys goods/services from merchants with the purpose of reselling for profit
Which is NOT a fact of startups?
Most startups’ success is not guaranteed
Competitive advantage is based on differentiation
Ideas will always go as planned
What is the failure rate of startups?
More than 10%
More than 30%
More than 50%
The key objective of a business is to solve a problem in the society to earn a value proposition in the market.
True
False
Which is NOT the main reason that most startups fail?
Poor management
Outrun by competition
Reckless spending on personal interests
What is one of the alarming signs that the startup is going to fail?
Losing passion for the business
Focused on objectives
Ability to pivot
Which of the following is one of the solutions startups can carry through to overcome failures?
Use personal funds for more capital
Only focus on the internal business environment
Have a sustainable business model
Startups should pay attention on the following, except:
The target market’s wants and needs
Remaining on the exact same product and business plan
Understanding their competition
