Quiz 1 – Getting Started

1. Question

What are some commonly held beliefs about new businesses that are not 100% accurate? (Chose all that apply)

It takes a lot of cash to start a business.
Over 80% of businesses fail in the first 5 years.
Owning a business takes hard work
You need special skills or degrees.
You will be in a higher tax bracket.

2. Question

The calling exercise is a chance to explore where your natural gifts and talents can be used in the marketplace.

True
False

3. Question

Which two of these are the best tools to use to find people who are doing what you would like to be doing (living your dream)?

LinkedIn
Web (Google) searches
At a ballgame
Going door to door in your neighborhood
Waiting for someone to just ask you what you want to do

4. Question

The process of reaching out and connecting with those who are already doing what you might want to do and asking key questions is called _____________.

reverse interview
interrogating the competition
becoming a used car salesman
door-to-door sales

5. Question

Many thinking about starting a business will say, “The field is crowded, and there is too much competition, so I need to find another idea.” Why is this wrong thinking?

If others are making money at it – there is demand.
It is not wrong. I need to find something that has never been done before.
Entrepreneurship is about finding truly new ideas and blazing a new trail.
Everyone is better than me.

6. Question

Write down your pitch in the format of lesson 7 – which is “I serve X by doing Y so they can Z.” If you have not done this yet and do not have your own pitch, create an example from pitch for some idea that you have been considereing.

This response will be awarded full points automatically, but it can be reviewed and adjusted after submission.