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Entrepreneurship ch. 3 Flashcards | StudBud

Explore/Entrepreneurship ch. 3

Should you include competitors in your industry in your business plan?

What does SBA stand for?

Entrepreneurship ch. 3

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Questions 10

Answers

1
What does SBA stand for?
Small Business Association
Small Business Administration
2
Should you include competitors in your industry in your business plan?
No
Yes
3
Why is a business plan important?
all the above
makes you think about all aspects of your business
helps you plan for the future
communicating your ideas
4
Which of the following should be forgotten in your business plan?
none of the above
how you will make a profit
Competitors
potential problems you may run into
5
what is a pro forma financial plan?
financial statement based on projected revenue and expenses
a guess of revenue earned
don't know
6
What is a harvest or exit strategy?
how you will get your crops
how you will leave your business
how you will get your money from your business
none of the above
7
Most investors DO NOT require a business plan before they will invest.
True
False
8
What is a business plan?
don't know
a plan for your business
document stating steps for opening and operating a business
9
What is ROI?
Revenge of Indigestion
Return of Ink
Return on Investment
10
When marketing which of the following acronyms should you be using?
OWCA
SHIELD
USA
4 p's