Small Business Management Chapter 5
moonlighting
working a separate job after your full time job
covenants
the limitations imposed on an individual's property by their neighborhood group
Hybrid entrepreneurship
the process of initiating a business while simultaneously remaining employed for wages or salary
Which of the following are valid ways for one to keep his or her business a home-based business?
Reinvesting profits into home additions. Increasing prices for goods or services. Limiting sales to stay small.
Which of the following statements about home-based businesses are correct?
Zoning and other restrictions sometimes require moving the business out of the home. Some owners find that family situations make home-based business impractical. Many business owners keep their business in their home.
The fundamental success factor in door-to-door selling is _____.
closing a sale
poisoning the well
creating a negative impression among your employer's customers
Inventors or makers use _____ for idea generation and refinement or funding to bring their products, figuratively and literally, together.
crowdsourcing
part-time business
one in which the owner either participates fewer than 35 hours per week or operates on a temporary or seasonal basis
Two important financial issues for companies that have an e-commerce website are _____ & _____
payment / chargebacks
variance
permission from a government organization to act differently that the laws state
cannibalizing
taking business away from your employer
Episodic business
temporary, project-based or sporadically operating business
In the context of the situations where a part-time business makes sense, pursuing such a business is usually the only profitable way to seize an opportunity when _____.
the business situation restricts the time in hand to create a business plan
reserve price
the minimum acceptable selling price in an auction
Which of the following are situations that may be apt for starting a business on a part-time basis?
When an entrepreneur is uncertain of the requirements of a full-time business When an entrepreneur wishes to gain basic experience
home party
A business model in which the entrepreneur arranges a customer to host a party, inviting friends, family, and neighbors
incubator
A facility that offers subsidized space and business advice to companies in their earliest stages of operation