WorksheetsModule 1: Generate Business Ideas
Total questions: 15
Worksheet time: 10mins
Which of the following is NOT a good reason why people become entrepreneurs?
Financial gain
Creating change
Freedom and lifestyle
Being an entrepreneur is an easy career path
Which of the following things is most likely to make two people good business partners?
They have complementary skill sets
They both enjoy the same hobbies
They live in the same city
They have the same educational background
What is the most important part of starting a business?
Creating a business plan
Securing funding
Conducting market research
Coming up with an idea
According to the video, how is Chipotle different from other Mexican restaurants?
It uses organic ingredients.
It offers high quality food quickly
It has a drive-thru service.
It serves traditional Mexican dishes.
What is the fundamental premise of a good business idea?
Innovation
It solves a problem
Profitability
Scalability
What are the other 2 rules for starting a business?
There are enough people with the problem and they will pay to solve it
Secure funding and choose a business location
Register your business and obtain necessary licenses
Develop a marketing strategy and build a team
What is the most important factor which determines a new business' success?
The execution of the idea
Business plan
Funding
Location
What is the primary motivation for entrepreneurs to start a business?
To become billionaires
To fill a need or satisfy a want in the community
To gain fame
Explain why personal savings might be a preferred funding source for some entrepreneurs.
It involves no financial risk.
It allows for complete control without external influence.
It guarantees business success.
It requires no financial planning.
The process of starting a new business is known as:
Diversification
Entrepreneurship
Liquidation
Amortization
The primary reason for a business to pursue entrepreneurship is to:
Avoid taxes
Create new markets or products
Follow government regulations
Reduce the number of employees
How does technology impact a business?
This is a concept that can be used to start a business that solves a problem or improves society.
Business Idea
The degree to which the revenues of a business exceed its expenses
Organize these options into the right categories
car
hair cut
cleaning
plumbing
catering
consulting
tutoring
delivery
landscaping
