Entrepreneurship Traits Quiz

Successful entrepreneurs share __________ as a common trait; they do it for the love of the game, for the journey.

• balance sheets

• strategy

• passion

• fear

Teresa is being very resourceful when she starts her business by finding ways to build it with limited funds and resources. She is ____________.

• bootstrapping

• taking risk

• multi-tasker

• relaxing

Successful entrepreneurs are problem solvers. They use the following trait, which involves the creation of new, unique products or services:

• bootstrapping

• self-awareness

• innovation

• mission

Geraldo has a personal budget that he has stayed disciplined to now for five years. He invested $300 per month at 6% compounded monthly and now has a little over $21,000. He wants to start a business but is scared that he will lose the money he worked so hard to save. Based on this information, it’s possible Geraldo doesn’t possess a certain entrepreneurial trait. Which one?

• Bootstrapping

• Multi-tasker

• Life-long-learner

• Willingness to take risks

Delegation is an important responsibility of a leader/manager: Delegation occurs when certain ________ are assigned to others:

• seats

• passwords

• tasks and/or responsibilities

• user names

Improper delegation, without enough direction or management, can cause employees to become:

• frustrated and confused

• empowered

• developed

• promoted and rewarded

Micromanagement occurs when a manager:

• creates a spreadsheet

• over-manages, providing too much direction

• under-manages, providing too little direction

• hires too many people

Entrepreneurs are known for having ___________, a view and belief of what their company can become, and if successful, what impact it can have on society, and the world.

• vision

• vocation

• career

• profession

You buy socks for $3 and sell them for $8, what’s your gross margin percentage?

• 62.5%

• 58.3%

• 50.0%

• 67.5%

Your cost for one coat is $12 and sell it for $24, what’s your gross margin percentage?

• 62.5%

• 55.0%

• 50.0%

• 70.0%