Question 1

Planning is the same as a plan.

Accepted Answer

A) True 
 B)False

Question 2

The feasibility study should be shared with ______.

Accepted Answer

A)  no one,it is for the entrepreneur's eyes only
B)  potential investors
C)  trusted friends
D)  the competitionE) B) and D)
F) A) and B)

Question 3

Imagine that you are thinking of starting a home care business for those recovering from illness or requiring home assistance.What research would be appropriate when preparing a feasibility study?

Accepted Answer

A pitch deck is advisable when...

Question 4

The purpose of a pitch deck is to help the entrepreneur determine if a venture is viable.

Accepted Answer

A) True 
 B)False

Question 5

What question are you answering in your plan when you compare a competitive analysis?

Accepted Answer

A)  Who is your customer?
B)  How big is the market?
C)  How will you enter the market?
D)  Who is your competition?E) A) and D)
F) A) and B)

Question 6

What important fact did the founders of Blue River Technology find out during the feasibility study?

Accepted Answer

A)  The target market did not thinking their solution was viable.
B)  The manufacturing plant could not make their product.
C)  The team members were exaggerating their skills.
D)  The product was too much.E) A) and C)
F) A) and B)

Question 7

What type of plan are traditional investors and bankers likely to require?

Accepted Answer

A)  a pitch deck
B)  a traditional business plan
C)  a business brief
D)  a feasibility studyE) All of the above
F) C) and D)

Question 8

It is important to remember that only a business plan can be used to obtain funding.

Accepted Answer

A) True 
 B)False

Question 9

What is the traditional length of a business plan?

Accepted Answer

A)  less than 5 pages
B)  5-10 pages
C)  20-40 pages
D)  over 40 pagesE) A) and B)
F) C) and D)

Question 10

Killian decides that he needs a few days away from it all to think out his ideas.He takes up an offer from a friend to spend a few days in his mountain cabin.During this time,Killian imagines what his business will look like in 3 years.He pictures his customers using his product and coming into his facility.Killian is engaging in a practice called ______.

Accepted Answer

A)  strategic planning
B)  Vivid Vision
C)  detailing
D)  Business Model CanvasE) All of the above
F) C) and D)

Question 11

What question are you answering in your plan when you describe the needs your product or service fulfills for your customer,the problems you are solving for them,and any evidence you have to show that your potential customers will want to buy your offering?

Accepted Answer

A)  Who is your customer?
B)  How big is the market?
C)  How will you enter the market?
D)  Who is your competition?E) A) and C)
F) None of the above

Question 12

When preparing financial projections for a business plan,be ______ in your estimates.

Accepted Answer

A)  bullish
B)  neutral
C)  conservative
D)  realisticE) A) and B)
F) A) and C)

Question 13

Of the following,what is the best time to write a business plan?

Accepted Answer

A)  when you have the data to prove your concept
B)  when you have the founder team
C)  when you have adequate time
D)  at any time in the formation of the businessE) B) and C)
F) A) and B)

Question 14

The key to a feasibility study is ______.

Accepted Answer

A)  formality
B)  completeness
C)  complexity
D)  speedE) B) and D)
F) A) and B)

Question 15

A type of visual plan that is especially useful for identifying gaps in the business idea is called a ______.

Accepted Answer

A)  pitch deck
B)  Business Model Canvas
C)  Vivid Vision
D)  feasibility studyE) B) and D)
F) None of the above

Question 16

The planning exercise that involves getting out of your usual working environment and imagining what the business could look like in three years is called ______.

Accepted Answer

A)  the Business Model Canvas
B)  Vivid Vision
C)  a back of a napkin sketch
D)  a business briefE) B) and C)
F) B) and D)

Question 17

When writing a business plan,what is the most effective way to incorporate visuals?

Accepted Answer

A)  Include a robust number of charts,graphs,and images on each page to support your plan.
B)  Avoid using visuals if possible.
C)  Include visuals to bring your idea to life but be careful not to crowd the plan with too many charts,graphs,and images.
D)  Reduce the amount of white space as much as possible by using visuals.E) B) and C)
F) None of the above

Question 18

All businesses,regardless of size,need a formal business plan.

Accepted Answer

A) True 
 B)False

Question 19

Dr.Emmet (Tom) Thompson believes ______ is the key to success.

Accepted Answer

A)  learning about the competition
B)  creating a basic team
C)  planning
D)  implementingE) C) and D)
F) A) and C)

Question 20

______ help(s) you get out of your head and see your idea for what it really is.

Accepted Answer

A)  Plans
B)  Brainstorming sessions
C)  Surveys
D)  White-boardingE) None of the above
F) A) and C)

Exam 10: Planning for Entrepreneurs

A type of visual plan that is especially useful for identifying gaps in the business idea is called a ______.

Correct Answer
verified

What is the traditional length of a business plan?

Correct Answer
verified

What important fact did the founders of Blue River Technology find out during the feasibility study?

Correct Answer
verified

All businesses,regardless of size,need a formal business plan.

Correct Answer
verified

Correct Answer
verified

Imagine that you are thinking of starting a home care business for those recovering from illness or requiring home assistance.What research would be appropriate when preparing a feasibility study?

Correct Answer
verified
A pitch deck is advisable when...
View Answer

The purpose of a pitch deck is to help the entrepreneur determine if a venture is viable.

Correct Answer
verified

When writing a business plan,what is the most effective way to incorporate visuals?

Correct Answer
verified

The key to a feasibility study is ______.

Correct Answer
verified

What question are you answering in your plan when you compare a competitive analysis?

Correct Answer
verified

______ help(s) you get out of your head and see your idea for what it really is.

Correct Answer
verified

What question are you answering in your plan when you describe the needs your product or service fulfills for your customer,the problems you are solving for them,and any evidence you have to show that your potential customers will want to buy your offering?

Correct Answer
verified

It is important to remember that only a business plan can be used to obtain funding.

Correct Answer
verified

Planning is the same as a plan.

Correct Answer
verified

The feasibility study should be shared with ______.

Correct Answer
verified

When preparing financial projections for a business plan,be ______ in your estimates.

Correct Answer
verified

What type of plan are traditional investors and bankers likely to require?

Correct Answer
verified

Of the following,what is the best time to write a business plan?

Correct Answer
verified

The planning exercise that involves getting out of your usual working environment and imagining what the business could look like in three years is called ______.

Correct Answer
verified

Dr.Emmet (Tom) Thompson believes ______ is the key to success.

Correct Answer
verified

Exam 10: Planning for Entrepreneurs

A type of visual plan that is especially useful for identifying gaps in the business idea is called a ______.

Correct AnswerverifiedShow Answer

What is the traditional length of a business plan?

Correct AnswerverifiedShow Answer

What important fact did the founders of Blue River Technology find out during the feasibility study?

Correct AnswerverifiedShow Answer

All businesses,regardless of size,need a formal business plan.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Imagine that you are thinking of starting a home care business for those recovering from illness or requiring home assistance.What research would be appropriate when preparing a feasibility study?

Correct AnswerverifiedA pitch deck is advisable when...View AnswerShow Answer

The purpose of a pitch deck is to help the entrepreneur determine if a venture is viable.

Correct AnswerverifiedShow Answer

When writing a business plan,what is the most effective way to incorporate visuals?

Correct AnswerverifiedShow Answer

The key to a feasibility study is ______.

Correct AnswerverifiedShow Answer

What question are you answering in your plan when you compare a competitive analysis?

Correct AnswerverifiedShow Answer

______ help(s) you get out of your head and see your idea for what it really is.

Correct AnswerverifiedShow Answer

What question are you answering in your plan when you describe the needs your product or service fulfills for your customer,the problems you are solving for them,and any evidence you have to show that your potential customers will want to buy your offering?

Correct AnswerverifiedShow Answer

It is important to remember that only a business plan can be used to obtain funding.

Correct AnswerverifiedShow Answer

Planning is the same as a plan.

Correct AnswerverifiedShow Answer

The feasibility study should be shared with ______.

Correct AnswerverifiedShow Answer

When preparing financial projections for a business plan,be ______ in your estimates.

Correct AnswerverifiedShow Answer

What type of plan are traditional investors and bankers likely to require?

Correct AnswerverifiedShow Answer

Of the following,what is the best time to write a business plan?

Correct AnswerverifiedShow Answer

The planning exercise that involves getting out of your usual working environment and imagining what the business could look like in three years is called ______.

Correct AnswerverifiedShow Answer

Dr.Emmet (Tom) Thompson believes ______ is the key to success.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified
A pitch deck is advisable when...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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