Are you ready to be an entrepreneur?
Are You Ready to Be an Entrepreneur?
Discover whether you have what it takes to dive into the exciting world of entrepreneurship! This quiz will challenge your knowledge about business plans, target markets, and the essential traits of successful entrepreneurs.
- Test your understanding of entrepreneurship
- Learn about key concepts and characteristics
- Get insights into the entrepreneurial mindset
Which is NOT a characteristic of a successful entrepreneur?
Motivated
Passionate
Hard-working
Takes very little risk
What are the purposes of a business plan? (Hint: choose 2 correct answers)
States the purpose and vision of your company
To document your financial activity during one year
States the amount of capital you need to run the company
Legal document to be filled with the SEC
Why do you need a business plan? (choose 3 answers)
To raise capital
It is required by law
Gets everyone involved to focus on the same goals
Gets an objective look at what you are doing and why
Target market is
An industry willing to sell and market your product
A generational group of individuals
A group of consumers at which a product/service is aimed
A group of investors willing to put capital into a business
What makes a “small business owner” different from an “entrepreneur”?
Business owners do not use technology and entrepreneurs are using the newest and best technology
Small business owners think big and entrepreneurs think bigger
Small business owners are content and want to make a living and entrepreneurs want to change the world
Small business owners are not risk takers and entrepreneurs are risk takers
How do entrepreneurs develop their skills?
By seeking little or no advice from others
By training and continuous practise
By reducing their flexibility
By becoming an autocratic leader
Which is NOT one of the reasons startups typically fail?
Poor marketing
Run out of cash
No business model
Market demand
Why are Entrepreneurs important?
An important engine of growth in the economy
An important way to increase traffic
An important money maker
An important business model
Why do we need Entrepreneurship
To make people happy
To take down big box stores
Create social change and community development
Create new business and raise taxes
Why do people want to become entrepreneurs?
To be their own boss and make decisions
Make a guaranteed amount of money
To show off how talented they are
To work longer hours
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