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Entrepreneurship RSmith Flashcards | StudBud
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Entrepreneurship RSmith
Entrepreneurship RSmith
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Questions
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Answers
1
What is a disadvantage of being an entrepreneur?
You have more control over your work
You do not always receive a regular paycheck
Your work schedule is always predictable
You have a more flexible schedule
2
This round of funding helps a company add a few employees & launch an early product.
Series B Funding
Series A Funding
Seed Funding
Series C Funding
3
An elevator pitch is a way to convey information about your business. How long should it be?
3 minutes
5 minutes
30 seconds
60 seconds
4
True or False: A standard business plan is one page in length.
False
True
5
What information should NOT be included in a business plan?
Your marketing plan
Your basic business concept
Your assets and liabilities
Your financing needs
6
Elon Musk is one of the greatest innovators. What did he NOT do?
Co-founded Paypal
Founded the company Tesla
Co-founded Google
Founded the company SpaceX
7
Which is a way to advertise your business or product? Select all that apply..
Word of mouth
Broadcast Media
Product Placement
The Internet
8
An
entrepreneur
is an innovative person who takes the risk and creates a new business.
True
False
9
"Roasted" is a coffee shop that opened locally. They have 10 employees. They are
a major corporation
an example of a small business
10
Which is NOT part of the procedure of developing an advertising campaign?
Define your market/target audience
Establish your budget
Prototype your product
Create an advertising strategy
11
The process of creating something new that makes life better is called...
Technology
Brand recognition
Innovation
Opportunity cost
12
What is the purpose of a business plan?
Legal document to be filed with the Green Bay school district
To document your financial activity during one year
States the purpose and vision of your company
13
A target market is
a group of investors willing to put capital/money into a business
a group of consumers at which a product/service is aimed for
an industry willing to sell your product
an uninterested group of individuals that don't want your product
14
Which is NOT a characteristic of a successful entrepreneur?
Passionate
Motivated
Takes very little risk
Hard-working
15
This famous innovator & entrepreneur was a scientist, printer, inventor, author, & businessman.
John D. Rockefeller
Henry Ford
Thomas Edison
Benjamin Franklin
16
Why do you need a business plan? Click all that apply...
To raise capital/money
Gets everyone involved to focus on the same goals
Gives an objective look at what you are doing and why
It is required by law
