Entrepreneurship -- Start Up

Kumar is starting a business and decides to use bootstrapping for his funding. His funding is both startup and growth. What is Kumar doing?

using his own savings and profits to start up and grow

What is the best tip to help you avoid being seen as a nuisance by potential customers?

Always have a meaningful reason for contacting customers.

You are considering seeking funding from friends and family for your startup business. What best practice should you follow?

Be clear about your expectations regarding the likelihood that you will be successful

Cami is starting her own business canning homemade gourmet sauces. If she begins with a side hustle, what can Cami do?

Cami can sell her sauces at a local farmers' market.

How are business coaches different than mentors?

Your success is a full-time job for business coaches, while it is only part of a mentor's unpaid job.

When considering a product partnership, which key questions should you ask?

Does the potential party share the same audience, and can the partner help grow my business?

You have the financial resources to start your own business. Before proceeding, what question should you ask yourself?

Have I assessed my worst-case scenario?

Jaime decides to use the Myers-Briggs personality assessment to identify pitfalls within himself. Why should Jaime do this?

Jaime can develop strategies to overcome his personal weaknesses.

You are an entrepreneur looking for a mentor. What advice should you follow?

Make the time you spend with mentors count.

Portia wants to be an entrepreneur. What should she do first?

Portia needs to find her why.

You are having difficulty coming up with a company name that is catchy and memorable. Which tried-and-true method can help you?

Refer to history or fiction.

Which strategy should you start with when seeking publicity for your personal brand?

Start small and work your way up

There are a number of myths about venture capital. What is actually true about venture capital and venture capitalists?

Venture capitalists provide both money and advice to a startup business.

Which type of financing product provides you and unlimited credit line as long as the balance is paid within 30 days?

charge cards

You implemented a marketing strategy for a product that ended up being costly because customers were not buying it. Which approach would have helped you avoid this situation?

being flexible in the early stages of a marketing plan

Jackson is looking to grow revenue but needs to buy inventory and equipment. Which type of capital will help with this?

financial

If you are growing your network of connections with friends and family, what do you want to AVOID?

showing you are in control of all aspect of your business

Who is the ideal partner to bring into your new business?

someone who has strengths where you have weaknesses

In using the "three W's" marketing strategy, what should you focus on first?

the who

Why should you engage with the early adopters of your product or service?

they become a walking billboard for your business.