Test 3: Creating a Business Plan

What is a business plan?

A document outlining your business goals and strategies
A book on how to become a millionaire
A recipe for chicken tikka masala

Why is a business plan important?

It helps you clarify your business goals and strategies
It's just a formality that banks require
It's a good way to show off your writing skills

Who should write a business plan?

The founder of the business
The founder's cat
The founder's neighbor's dog

What are the main components of a business plan?

Executive summary, company description, market analysis, financial projections, and more
A funny joke, a picture of a cat, and a recipe for chicken tikka masala
Just a list of products you want to sell

What is an executive summary?

A brief overview of the key points in your business plan
A fancy way of saying "introduction"
A summary of your favorite books and movies

What is a company description?

A detailed description of your business and what it does
A fictional story about a magical kingdom
A list of your favorite foods

What is market analysis?

Research on your target market and competitors
A study of how to perform magic tricks
A recipe for chicken tikka masala

What are financial projections?

Estimates of your future revenue, expenses, and profits
A list of your favorite TV shows
A detailed plan for a trip around the world

What is a SWOT analysis?

An analysis of your business's strengths, weaknesses, opportunities, and threats
A type of martial art
A recipe for chicken tikka masala

What is a competitive analysis?

An analysis of your competitors and how your business compares to them
A study of the best way to win a race
A list of your favorite animals

What is a marketing plan?

A plan for how you will promote and advertise your business
A plan for how to make the perfect cup of coffee
A list of your favorite songs

What is a sales strategy?

A plan for how you will sell your products or services
A strategy for winning a game of chess
A list of your favorite movies

What is a management plan?

A plan for how you will manage your business operations and employees
A plan for how to train a puppy
A list of your favorite books

What is an exit strategy?

A plan for how you will exit your business in the future
A strategy for leaving a party early
A list of your favorite foods

What is NOT a good reason to skip writing a business plan?

You already know everything about your business
You're too busy binge-watching Netflix
You don't have any competition

What is a tagline?

A piece of clothing with a slogan on it
A short phrase that sums up your company's message
A type of fishing lure

What is a trademark?

A tool used to brand cattle
A legally protected symbol or word that represents your brand
A type of patent used for inventions

Which of the following is NOT a good way to come up with a business name?

Using a name generator online
Brainstorming with friends and family
Choosing a name that is hard to spell or pronounce

What is a brand voice?

A type of singing style used in commercials
The tone and personality of your brand's communication
A way to talk to your brand manager remotely

What is brand identity?

A way to identify counterfeit products
The visual elements that represent your brand
The way your brand is perceived by customers

What is a logo?

A small truck used for delivering goods
A visual symbol that represents your brand
A type of dance popular in the 80s

Which of the following is NOT a good practice when designing a logo?

Using too many colors or fonts
Making it too complicated
Making it too simple and unmemorable

What is a brand style guide?

A set of rules and guidelines for how your brand should look and sound
A recipe book for your brand's signature dish
A travel guide for your brand ambassadors

What is a brand ambassador?

A person who represents your brand and promotes it to others
A type of energy drink
A type of fish commonly used in sushi

Which of the following is NOT an effective way to build brand awareness?

Networking and attending events
Creating a strong social media presence
Keeping your brand a secret and not telling anyone about it

Quiz Summary

Information

Results

Results

Categories

1. Question

2. Question

3. Question

4. Question

5. Question

6. Question

7. Question

8. Question

9. Question

10. Question

11. Question

12. Question

13. Question

14. Question

15. Question

16. Question

17. Question

18. Question

19. Question

20. Question

21. Question

22. Question

23. Question

24. Question

25. Question