ESB Questions AND ANSWERS ALL CORRECT

Document Content and Description Below

ESB Questions Online Networking Correct Answer: Each day, Donnie posts the progress of her new building to Facebook as a countdown to opening her business. What type of networking is Donnie using?... Increase of service Correct Answer: Ophelia discovers her competitor's turnaround time is double her turnaround time. What should Ophelia's new marketing strategy be to woo back her customers? Which three things are defined when doing a self-assessment? Correct Answer: Risk tolerance, strengths, and weaknesses Which description best fits an entrepreneur? Correct Answer: Willing to take risks After a self assessment, Julie realizes she has no clue how to figure out whether her restaurant is profitable. What should Julie do? Correct Answer: Get some basic accounting knowledge Which is considered to be the largest risk of being an entrepreneur? Correct Answer: loss of money Which two characteristics best describe entrepreneurs? Correct Answer: Creative and adaptable Which is considered to be a great immediate benefit of being an entrepreneur? Correct Answer: More schedule control Courage Correct Answer: A willingness to take risks despite possible losses Value achievement Correct Answer: The desire to succeed over the desire of money Tenacious Correct Answer: A willingness to see things through Self-reliant Correct Answer: The ability to consistently believe in the entrepreneurial dream Attending a Chamber of Commerce event Correct Answer: Sharing information with local businesses Talking to people in a store Correct Answer: Face-to-face conversations Posting information to Facebook Correct Answer: Marketing to online communities Going to a trade show Correct Answer: Sharing information with others in your industry Many of Fran's customers complain about a lack of available flooring companies in the area and that of those companies, the prices are too high. what can be a good marketing strategy? Correct Answer: Lower prices Which are traits of a successful entrepreneur? There's three. Correct Answer: patient, confident, enthusiastic Which entrepreneurial trait best deals with ambiguity? Correct Answer: patience Todd is rejected for lack of collateral. Todd then turns to private investors in an effort to get the business started. What entrepreneurial characteristic is Todd exhibiting? Correct Answer: Flexibility In the last 10 years, Ronnie has moved five times to five different states. What about Ronnie could hamper potential success for this business? Correct Answer: A lack of patience Besides defining strengths and weaknesses, what is the other main factor determined during a self-assessment? Correct Answer: risk tolerance After a self-assessment, Peter realizes he wants to start a plumbing business, but doesn't want to risk a lot of his own money. What would be his best option? Correct Answer: Purchase an existing business Upon researching the situation, Donnie decides to open a doggie daycare facility. Which marketing option for this new business should be a point of emphasis? Correct Answer: Location Which are considered risks of being an entrepreneur? (Three) Correct Answer: Long hours, financial instability, and possibility of failure Which are considered rewards of being an entrepreneur? (Three) Correct Answer: Bigger community asset, Working the way one chooses, Better earnings George wants to take his passion for gold and open a golf academy. What would be benefits George could enjoy from this experience? (Two) Correct Answer: Financial gain and satisfaction of pursuing his passion Phyllis opens a new pet store in a growing area of town but the new store fails and closes after a year. How should Phyllis best handle this? Correct Answer: Evaluate why the business failed and use the knowledge for the future [Show More]

Last updated: 1 year ago

Preview 1 out of 13 pages