Unit 1 - Entrepreneurship & Business Foundations

What is the "Entrepreneur Trifecta" and what three elements does it include?

• People, Profit, and Planet

• Mindset, Skills, and Work Ethic

• Mission, Vision, and Values

• Product, Service, and Marketing

Which of the following is considered a key mindset for a successful entrepreneur?

• Following the leader

• A fixed mindset

• Risk aversion

• Self-motivation

According to the presentation, which of the following is a key skill for entrepreneurs?

• Micromanagement

• Following instructions without question

• Collaboration

• Avoiding conflict

Which of the following is a key work ethic for entrepreneurs?

• Working only when motivated

• Putting in the minimum effort

• Persistence

• Letting others take responsibility

What is a "limiting belief"?

• A positive thought about your future success

• A negative thought about yourself that holds you back

• A financial constraint on your business

• A legal barrier to starting a business

According to the presentation, what is the key difference between success and "just wishing for it"?

• Having a good idea

• Having a lot of money

• Being well-connected

• Taking action

What is an "agility" as defined in the presentation?

• A physical ability to move quickly

• A business’s ability to change markets

• Work strengths combined with interests

• A type of financial asset

How should successful entrepreneurs approach a big goal?

• Try to achieve it all at once

• Wait for the perfect opportunity to act

• Break it down into small, doable steps

• Delegate the entire goal to others

What is the purpose of a growth mindset for an entrepreneur?

• To believe that talent is innate and unchangeable

• To focus solely on financial growth

• To embrace challenges and learn from setbacks

• To avoid taking any risks

What is the definition of an entrepreneur?

• A person who works for a large corporation

• A person who inherits a business

• A person who starts and runs a business, taking risks to create something new

• A person who manages a team but does not own the company