Test 1. Business Ownership Basics

What’s the best way to start a business?

Close your eyes and hope for the best
Write a detailed business plan and follow it closely
Ask your magic eight-ball for guidance

Who’s responsible for making all the decisions in a business?

The business owner
The customers
The government

What’s the best way to finance your business?

Borrow as much money as you can
Use your personal savings
Create a crowdfunding campaign

What’s the most important thing to consider when choosing a business location?

The price of the rent
The proximity to your favorite coffee shop
The target market and competition in the area

What’s the most important thing to include in a business plan?

A list of all the things you want to buy with your profits
A detailed marketing strategy
A recipe for your favorite cake

What’s the biggest risk of starting your own business?

Losing all your money
Making too much money and not knowing what to do with it
Your friends and family getting jealous of your success

What’s the best way to attract customers to your business?

Posting flyers around town
Creating a social media presence
Praying for customers to magically appear

How important is it to have a business partner?

Not important at all
It's essential for success
Only if they're willing to do all the work

What’s the best way to handle difficult customers?

Yell at them until they leave
Ignore them completely
Listen to their concerns and try to find a solution

What’s the difference between a business and a hobby?

A business is something you do for fun, a hobby is something you do for money
A business generates income, a hobby does not
There's no difference, they're the same thing

What’s the most important thing to consider when hiring employees?

Their experience and qualifications
Their favorite TV show
Whether they like the same kind of music as you do

How often should you review your business plan?

Every day
Every week
Every year

What’s the biggest benefit of being a business owner?

The unlimited earning potential
The ability to work in your pajamas
The free office supplies

How do you know if your business is successful?How do you know if your business is successful?

When you're able to retire early and live on a yacht
When your customers are happy and you're making a profit
When your business is featured on a reality TV show

What’s the best way to learn more about running a successful business?

Reading books and attending seminars
Asking your friends and family for advice
Watching reality TV shows about business

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