Entrepreneur Basics
Famous Entrepreneurs
Skills and Qualities
Business Ideas
Risks and Rewards
100
What is an entrepreneur?
A person who starts and operates a business.
100
Which Australian entrepreneur founded Boost Juice?
Janine Allis.
100
What quality helps an entrepreneur continue after experiencing failure?
Resilience or persistence.
100
A lawn-mowing business provides a good or a service?
A service.
100
What financial risk does an entrepreneur take when starting a business?
They may lose the money they invested.
200
What does an entrepreneur usually hope to earn from a successful business?
A profit.
200
Which entrepreneur helped create Microsoft?
Bill Gates.
200
What skill helps an entrepreneur explain and promote a business idea?
Communication.
200
A person notices students want affordable phone chargers at school. What have they identified?
A customer need or business opportunity.
200
Name one possible reward of owning a successful business.
Profit, independence, flexibility, achievement or personal satisfaction.
300
Explain entrepreneurship?
The process of developing, starting and running a business.
300
Which entrepreneur is associated with Tesla and SpaceX?
Elon Musk
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300
What quality involves creating new ideas or better ways of doing things?
Creativity or innovation.
300
What is a target market?
The particular group of customers a business wants to sell to.
300
What is a calculated risk?
A risk that has been researched and carefully considered before a decision is made.
400
Explain the difference between an entrepreneur and an employee?
An entrepreneur owns or starts a business, while an employee works for a business.
400
Which Australian entrepreneur founded the online design company Canva with Cliff Obrecht and Cameron Adams?
Melanie Perkins.
400
Why is problem-solving important for an entrepreneur?
Entrepreneurs regularly need to overcome business problems and make decisions.
400
What is a unique selling point?
A feature that makes a business or product different from its competitors.
400
Why might a new business fail?
Poor planning, lack of customers, high costs, strong competition or poor money management.
500
Why do entrepreneurs research their customers before starting a business?
To understand what customers want and whether they will buy the product or service.
500
Which entrepreneur started Amazon as an online bookstore?
Jeff Bezos
500
Name three qualities of a successful entrepreneur.
#confidence, #creativity, #resilience, #organisation, #motivation, #leadership, #risk taker
500
Why should an entrepreneur test a product before selling large quantities?
To receive feedback, identify problems and avoid wasting money.
500
An entrepreneur’s first business idea fails, but they learn from the experience, improve the idea and try again. Which important entrepreneurial quality are they demonstrating?
Resilience.