Entrepreneurship - Fall 2019

Question 1

The process of creating something new that makes life better is called...

Accepted Answer

Innovation

Question 2

Roasted is a community-driven coffee shop that opened locally. They have 10 employees. They are

Accepted Answer

an example of a small business

Question 3

A target market is

Accepted Answer

a group of consumers at which a product/service is aimed

Question 4

Which is a way to advertise your business or product?

Accepted Answer

Broadcast Media, The Internet, Product Placement, Support Media

Question 5

True or False: A standard business plan is one page in length.

Accepted Answer

False

Question 6

Why do you need a business plan?

Accepted Answer

To raise capital, Gets everyone involved to focus on the same goals, Gives an objective look at what you are doing and why

Question 7

Which is NOT one of the reasons startups typically fail?

Accepted Answer

Market demand

Question 8

Who is this?

Accepted Answer

Nely Galan

Question 9

What is a disadvantage of being an entrepreneur?

Accepted Answer

You do not always receive a regular paycheck

Question 10

What is the purpose of a business plan?

Accepted Answer

States the amount of capital you need to run the company, States the purpose and vision of your company

Question 11

Which is a characteristic of a successful entrepreneur?

Accepted Answer

Hard-working, Passionate, Motivated

Question 12

What information should NOT be included in a business plan?

Accepted Answer

Your assets and liabilities

Question 13

This round of funding helps a company add a few employees & launch an early product.

Accepted Answer

Seed Funding

Question 14

What perspective or behavior is more likely not to help you succeed as an entrepreneur?

Accepted Answer

Not willing to loose your investment

Questions 14