Be your own boss
Set your own hours
Less expensive to start.
100
What is the most popular type of marketing?
Direct marketing
100
What are three challenges that young entrepreneurs face?
Keeping up with innovation, taking on too much, and earning trust.
100
Is a business plan necessary to start-up a business? True or false.
True
100
A cost such as rent, that is the same every month regardless of how much the venture sells or produces is the definition of...?
What is a fixed cost.
200
Unlimited liability and Disagreements are an example of?
2 disadvantages of partnership.
200
Trying to get your small business online or into a newspaper/ magazine is an example of...?
Press release
200
How does keeping up with innovation affect entrepreneurs?
New technology can always threaten young entrepreneurs campaign to success
200
What does a venture plan provide? (list at least 2)
Detailed description of what products and services your business will offer
Where the venture will operate
When the venture will start
What resources are needed for the venture
200
What is an executive summary?
A one page summary of the most important points in your plan, intended to introduce the business venture and capture the attention of the reader.
300
What type of liability is it when the owner is responsibly for any business losses?
Unlimited liability
300
What is word of mouth?
When clients or your customers talk about your business.
300
How does taking on too much affect young entrepreneurs?
Young entrepreneurs always take on too much and don't know how to say no.
300
A written summary of what the venture can accomplish and how.
What is a venture plan?
300
A cost such as labour, that fluctuates every month depending on the demand for, and output of, the product or service is the definition of...?
What are variable costs?
400
What is the difference between a corporation and a franchise?
Corporate is operated by an actual company while a franchise is owned by an independent party.
400
Define cold calling.
Contacting any business that could use your service.
400
How does trust affect young entrepreneurs?
It is very hard to trust an incomer to the industry
400
What is a business plan?
A formal statement of a set of business goals. Reasons are believed to be attainable and the plan for reaching those goals. The plan may contain information about the organization.
400
What are the 4 P's of marketing?
Product, Price, Place and Promotion
500
What are 3 advantages of starting up a franchise?
Brand recognition, marketing costs are shared among all of the franchise and corporate training.
500
What is a business card?
A small piece of information of your business.
500
How does funding affect young entrepreneurs?
Paying off loans as well as finding a bank or investors that will invest in you.
500
A venture plan must include (name at least two)
Detailed description of what products and services your business will offer
Where the venture will operate
When the venture will start
What resources are needed for the venture
500
Amount Returned – Amount Invested x100
Amount Invested