WebXam Study Set

An entrepreneur's life has few challenges, few risks, and minimal rewards.

F

Location is not important for a business.

F

Entrepreneurs are self-motivated and recognize opportunities around them.

T

Buying an existing business _____.

allows the owner to build upon the goodwill of previous customerse

A business' success depends on four key factors: financing, location, management, and _____.

competition

Buying a franchise might be a good decision for someone who _____.

doesn't have experience developing management systems

A disadvantage to joining a family business is that _____.

family relationships may be negatively affected

In order for a teen to have a successful business, they must to do all of the following EXCEPT _____.

ignore customer satisfaction

The three traits an entrepreneur must possess to be successful are _____.

sight & foresight, decision making, and motivation

In order for a person to recognize needs that are not being met and make a career out of fulfilling unmet needs, that person must have _____.

sight and foresight