Ch.8

Which of the following is a founding team problem that can lead to business failure? (Select all that apply.)

A formal hierarchy A lot of opportunities A lack of technical talent

Every founder needs to be able to tap people he or she respects and trusts on a personal level who can guide the founder's growth as a leader. According to the chapter, this is accomplished through what vehicle?

A mentor board

Which of the following satisfy the 20-point IRS test for classifying workers as independent contractors? (Select all that apply.)

Does not receive training from the entrepreneur. Is responsible only for the results. Hires, supervises, and pays her own employees.

About 35 percent of a team's performance is accounted for by which of the following?

Face-to-face conversations

True or False? In a two-person company, it's not as important to designate areas of responsibility.

False

Which of the following are considered professional advisors to your business? (Select all that apply.)

Insurance agents Bankers Attorneys Accountants

Which of the following is correct regarding an advisory board?

It is a less costly alternative to a board of directors

While diversity is important, which of the following is something that teams need to be in synch on? (Select all that apply.)

Risk preference Values Work ethic

True or False? It's a good idea to hold off decisions on equity splits in the first few months.

True

Research has found that the most important predictor of a founding team's success is:

communication