Author: Anonymous

A principal advantage of buying an existing business is the purchaser’s ability to rely on the previous owner’s experience.

The reason an entrepreneur should conduct a self-audit of her/his skills, abilities, and interests is to help focus on those businesses that will best “fit.”

During a brainstorming session, company rank and department affiliation are irrelevant.

If an entrepreneur has a good enough product or service to sell, a business plan is not really necessary since the product or service will sell itself.

Maria Sanchez is the owner of the Main Street Café and a new restaurant opens a few blocks away. From Maria’s perspective, this new restaurant constitutes a(n) ________.

The ideal size of a focus group is 20-25.

One hallmark of successful entrepreneurs is the ability to ________.

With an existing business, the new owner can depend on employees to help him make money while he is learning the business.

The three principles (three Rs) of rapid prototyping are ________.

Which of the following is a disadvantage of the corporation form of ownership?