Entrepreneurship

A good entrepreneur will

• Be willing to sell their soul for success

• Change the world

• Put on a great show

• Find a new or unusual way of doing business

Which is an advantage of owning a franchise?

• Owners pay a large franchise fee up-front to "buy-in"

• Owners spend a lot of in the beginning getting things up and running

• The company has wide-spread name and brand recognition

• Owners are locked into franchise rules, food, menu, uniforms, etc

Which of the following would NOT be a good place to go to get advice?

• A Community Workshop

• The Better Business Bureau

• An Embezzlers Anonymous Meeting

• The Chamber of Commerce

A successful entrepreneur is

• A loser

• A troublemaker

• Annoying

• A leader

Bigger risks can mean

• Bigger need for cash investment

• More people will get involved

• Bigger opportunities for success

• Certain failure

Why is it important for entrepreneurs to identify customers' wants and needs as they plan their businesses?

• To better obtain start-up funding from an investor

• To create something no other business has ever created

• To tell their customers what they really want and need

• To understand how to make money fulfilling those wants and needs

Which kind of business opportunity is like buying a business kit?

• Starting a new business from scratch

• Buying a franchise

• Buying an existing business

You should seek the advice of a trained professional to

• Write off their services on your income taxes

• Help you when you don't feel smart enough on your own

• Provide funding for your idea

• Get accurate and specialized information relevant to your situation

What might be a motivation to become an entrepreneur?

• Risk of financial ruin

• Be your own boss

• Doing paperwork

• Lack of responsibility

Which of these is NOT a characteristic of an entrepreneur?

• Risk taker

• Self-starter

• Fearful

• Good communicator