Networking
Why is professional networking critical for new entrepreneurs?
It builds valuable industry connections for growth and opportunities
Which business structure is controlled and owned by a single individual only?
Sole proprietorship
Which method do corporations primarily use to obtain capital (money) for expansion?
Selling stocks and shares
How is a joint venture best defined?
A partnership of two businesses for a specific project
What is an advantage of a sole proprietorship?
Full control by the owner
What is the key difference between a business incubator and accelerator?
Accelerators are short competitive programs; incubators offer long-term support.
Accelerators also want equity.
Which option is not a core basic business structure?:
Partnership, sole proprietorship, franchise, corporation, joint venture
franchise
Who holds ownership in a corporate business structure?
shareholders
What defines a general partnership?
Two or more owners with unlimited personal liability
The break-even point is best described as:
The sales needed to cover all business expenses.
Which is not a typical university campus networking opportunity?
Alumni professional groups
Honor societies
Student gaming club
Professional trade associations
Professional trade associations
What is the core mission of a nonprofit organization?
Serve public and social community needs
Which group oversees major decisions and management of a corporation?
Board of Directors
BONUS
Why is Elon Musk sooooooooooo rich?
Why would an entrepreneur pivot?
many reasons, it could be; no market need, poor feedback, continued low revenue, changing market
What is the main function of industry trade associations?
Set industry standards, offer training, networking, and advocate for the industry.
Which business type has the legal right to sell stock to investors?
corporation
What is the biggest downside of a sole proprietorship?
Unlimited personal liability for business debts
BONUS
Ask a question to the group with the lowest points
????
A go-or-no-go business decision mainly comes from where?
A feasibility analysis
Even if you don't like talking to or meeting people, why is it important to network?
Building professional relationships to gain opportunities, advice, and support.
Which business structure is legally separate from its owners?
corporation
What is a key advantage of forming a corporation?
Limits liability for the founders
Which type of partnership has one or more investors who only invest money and do not manage the business?
Limited partnership
What does business liability mean?
Legal responsibility for business debts, obligations, and actions